ATLANTA-Wood Partners, one of the largest multifamily builders in the US, plans to break ground on a 168-unit, upscale apartment building in Atlanta’s Central Perimeter submarket. The $30 million project is scheduled for completion in 18 months, but the first residents are expected to begin moving in in about a year from today, says Bennett Sands, director of development for Wood Partners in the Southeast.

The apartment project, which will be called Alta Glenridge Springs, will be part of a larger 205,000-square-foot development, which will include 175,000 square feet of residential space and 20,000 square feet of retail. It will complement an existing office building adjacent to the site.

Alta Glenridge Springs will be located near the intersection of I-285 and Glenridge Drive in the city of Sandy Springs, an affluent Atlanta suburb. The site is in the heart of what is locally known as Pill Hill, a cluster of hospital and medical offices anchored by St. Joseph’s Hospital, Northside Hospital and Children’s Healthcare of Atlanta. Sandy Springs is also home to a number of Fortune 500 companies including United Parcel Service and Newell Rubbermaid, Inc.