Trammell Crow Residential will begin turning over 3 acres of mostly vacant parking lots in Summerhill into 315 apartments, as a wave of revitalization continues sweeping over the south Atlanta neighborhood where the Braves used to play.
Project details: Trammell Crow completed the purchase of the site for the new apartments two weeks ago, paying $7.6 million for the 3.6-acre property next to the former Turner Field whose name is changing to Center Parc Stadium. The deal closed Nov. 20, according to Fulton County property records. The $70 million project will feature studio, one-bedroom and two-bedroom units with rents ranging from about $1,450 to $2,350 per month. Studios will be as small as 575 square feet.
By Douglas Sams, Commercial Real Estate Editor, Atlanta Business Chronicle