NAP Breaks Ground on $600M Avalon Mixed-Use Development in Alpharetta
By Georgiana Mihaila, Associate Editor
Nine months after the ambitious Avalon mixed-use development finally got the approval of the Alpharetta City Council, developer North American Properties is now one step closer to deliver what it fondly calls “the Southeast’s preeminent experiential development.”
Celebrating the groundbreaking of the 86-acre, resort-inspired Avalon development on January 28, NAP Managing Partner Mark Toro said, “Today is the culmination of a lot of hard work and countless wins during the past six months.” He added, “We are excited to share all our progress today and to start demolition and construction. I know the residents of Alpharetta are as eager as we are to begin moving dirt. The wait is over.”
Located in the heart of Alpharetta, the Avalon mixed-use development is being marketed as a place where specialty retail, entertainment, restaurant, residential, office, hotel and public spaces come together to create a unique destination. Designed with sustainability in mind, the 86-acre development will consist of 500,000 square feet of retail, a 14-screen theater, four-star boutique hotel, Class A office, single-family residences and luxury rental homes.
Avalon is now 50 percent leased with another 30 percent in negotiations. The leasing team has recent commitments from Pinkberry, Dry Bar, C. Wonder, lululemon, Luxury Nail Spa, Kona Grill, Mitchell Gold + Bob Williams, L’Occitane, Fly Wheel, Savor Boulanger (a new concept from restaurateur Chris Sedgwick), Destination Maternity, Gap and White House Black Market. These brands join already announced tenants including Regal Cinemas, Whole Foods, Anthropologie, Marlow’s Tavern, Orvis, Ted’s Montana Grill, Fab’rik, Athleta, Arhaus, Paper Source, Banana Republic, Cru Wine Bar, a concept from chef Ford Fry, Yeah! Burger, Van Michael Salon and Marmi Shoes.
Construction, development and leasing partners list Wakefield Beasley as the principal architect and Site Solutions as the landscape architect. Hoar Construction has been named the project’s general contractor while Greenstone Properties has been engaged to lease the professional office lofts. NAP has also signed an agreement with Monte Hewett Homes to build 101 luxury homes and townhomes in a community designed by Lew Oliver Inc.
Image courtesy of North American Properties
Tags: Alpharetta, Architecture/Design, Atlanta Lead Story, Avalon, Commercial, Conventional - Market Rate, Developers, Development, Finance/Investment, Financiers, Green, Investors, leasing, Local, mixed-use, mixed-use development, multi-family, NAP, National, Office, Professional, Regional, Residential, retail, single-family