The building will contain one-, two- and three-bedroom units with an average unit size of 975 sf. The project cost or target rents were not released.
Perseus Realty Partners director T.J. Hofheimer tells GlobeSt.com that the project is located in an area with many demand generators. The 5-acre infill site is located in the North Dekalb submarket adjacent to the Embry Village shopping center, which is currently undergoing renovations. The project will have access to Interstate 85 and Interstate 285.
"Ashton Hills presents a compelling opportunity to take advantage of the strong Atlanta apartment market by building a well-located class A rental community," says Hofheimer. "We expect the property to attract mostly young professionals, but we anticipate a wide variety of tenants."
This is Perseus Realty Partners first investment in Atlanta and its first joint venture with J. Tucker Development Partners. "I am delighted with Perseus Realty Partners' commitment to the project and its confidence in the Atlanta region," says Jeff Tucker, of J. Tucker Development, in a prepared statement.
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