ATLANTA—Carter is planning to develop a $40 million mixed-use project in Decatur, GA. Dubbed 315 West Ponce, the project includes five-story multifamily buildings that will offer 233 apartments and about 10,000 square feet of street-level retail space.

“While Decatur has experienced significant population and retail growth during the last 10 years, no new apartment projects have been delivered since 2001, which makes the timing for this project ideal,” says Conor McNally, chief development officer at Carter. He noted the company is developing the class-A mixed-use project “right in our backyard.”

315 West Ponce will target young professionals with a mix of one-, two- and three-bedroom apartments. The amenity package includes a pool, clubhouse, fitness center, and two outdoor courtyards with green space. The development will also offer a structured parking deck that retail patrons, residents, and tenants and visitors to the existing 10-story office building located on the site will share.