ATLANTA, Feb. 06, 2017 (GLOBE NEWSWIRE) -- Crescent Communities, has secured financing for an upscale for-rent multifamily community now under way in Atlanta’s booming Perimeter neighborhood.
The community, Crescent Perimeter, will consist of 320 apartments units ranging from one to three bedrooms. Situated at 5755 Glenridge Road in Sandy Springs, Georgia, the contemporary community will be four and five stories surrounding a parking deck within the 26-acre Lakeside office park just north of I-285. Crescent Perimeter will pair modern elegance with spa-like serenity to create an oasis for residents within one of Atlanta’s most energetic communities.
Crescent’s equity partner in the development is Bluerock Residential, part of New York-based Bluerock Real Estate, LLC. The general contractor is Fortune-Johnson, Inc. of Norcross, Georgia. Fortune-Johnson currently is grading the site and preparing it for vertical construction.
Crescent Perimeter is rising in the heart of Atlanta’s Central Perimeter business district, a major regional center that has recently attracted several iconic companies - including the headquarters of Mercedes-Benz USA, State Farm, and The Weather Channel. Crescent’s new apartment community will also serve employees of Atlanta’s largest concentration of hospitals and medical offices, affectionately known as Pill Hill.
“The job growth in Atlanta, especially in Central Perimeter, has created strong demand for housing that is proximate to the employment and retail centers,” said Kyle Brock, Managing Director in Crescent’s Atlanta Office. “With great access to both Perimeter and Buckhead jobs, shopping and restaurants, exceptional visibility and a well-appointed community, we anticipate strong demand for the residences when Crescent Perimeter comes online.”
Crescent expects the first residents to move into Crescent Perimeter in the third quarter of 2018.