Search
 

Summitt Properties Starts $41-Mil Intown Multifamily Venture

ATLANTA-The 359-unit apartment project is going up in Brookwood, off 26th Street, at an estimated construction cost of $115,599 per unit. The rent range is $900 to $1,600 per month with penthouse space at $2,000-plus.

By Judith Schonbak | Updated on January 29, 2001

ATLANTA-Summit Properties has joined the slate of developers building intown apartments. The Charlotte-based REIT is making its presence known in the metro market with Summit Brookwood, a $41.5 million, 359-unit apartment development under construction in the Brookwood area off 26th Street, five miles north of Downtown.

The project will have five buildings from three to five stories and one eight-story building. The estimated hard construction cost is $115,599 per unit. Rents will range between $900 and $1,600 per month. Penthouse units will be more than $2,000 per month. The first apartments are scheduled for delivery in late fall. The entire project is expected to be completed in mid-2002.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.