Southeast Real Estate Business

OCT 2016

Southeast Real Estate Business magazine covers the multifamily, retail, office, healthcare, industrial and hospitality sectors in the Southeast United States.

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Page 46 of 56

46 • October 2016 • Southeast Real Estate Business THERE'S A SEA CHANGE IN SANDY SPRINGS MULTIFAMILY from page 1 feature 28,000 square feet of retail space, a 1,000-seat performing arts center, central park, underground parking deck, studio theater and 294 upscale apartment residences. Within a 1.5-mile radius, City Springs will be joined by five other major developments that will col- lectively add 1,500 single-family and multifamily residential units and 60,000 square feet of complimentary retail to the corridor straddling Ro- swell Road. Altogether, the projects are set to be worth nearly $1 billion and be a boom to Sandy Springs as a whole. "What amazes me is that there hasn't been a construction crane over Sandy Springs in maybe 40 years. And between our projects alone, there are six construction cranes over Sandy Springs at the same time," said Steven Cadranel, president of Arris Realty Partners, whose company is develop- ing The Cliftwood, a 250-unit multi- family community, and an adjacent 27,000 square foot retail and restau- rant center known as The Plaza At City Springs. "We're reinventing the City Springs corridor district." Arris Realty Partners is co-devel- oping The Cliftwood with ECI Group. Also in the corridor is Atwood, Pulte- Group's gated community featuring 45 detached single-family homes and 43 townhomes. Other developments in the corri- dor include Square One, a 200-unit multifamily development at the cor- ner of Roswell and Hammond roads that Kaplan Residential and George S. Morgan Development have teamed up to develop. The project will also feature 10,000 square feet of retail and restaurant space. Mill Creek Residential is underway on Modera Sandy Springs, which will offer 340 apartment residences atop 25,000 square feet of retail. Davis De- velopment is also planning a 291-unit apartment community at an old Post Office location at 6075-6077 Roswell Road. To focus in on this burgeoning cor- ridor in Sandy Springs, Southeast Real Estate Business conducted a round- table with representatives of each project, as well as Bryant Poole, Sandy Springs' assistant city manager. Held on Wednesday, Aug. 31, the round- table was hosted by Atlanta account- ing firm Babush Neiman Kornman & Johnson (BNKJ). The attendees included Cadranel of Arris Realty Partners; Michelle Hors- temeyer of PulteGroup, formerly John Wieland Homes and Neighborhoods; Jo Ann Chitty, senior vice president of development, acquisition and finance at Selig Enterprises; Jerome Hagley, executive vice president of Carter USA; Oz Friedmann, development associate with Mill Creek Residential Trust; Nathan Kaplan, development associate with Kaplan Residential; Bryant Poole, assistant city manager of Sandy Springs, spoke to the group about the public-private City Springs development underway. From left, Steve West of Halpern Enterprises and George Morgan of Morgan Cos. listen during the Sandy Springs roundtable discussion held Aug. 31. GENERAL SER CORPORATION In Real Estate: Management Acquisitions Development Financing entures 2922 Hathaway Road Richmond, Virginia 23225 804-320-7101 804-323-1747 (fax) City Springs will feature an apartment building, civic office building, underground parking deck, performing arts theater and a central park with water features.

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