$60M Savannah Mixed-Use Project Breaks Ground
The developer is in the midst of a $3 billion plan to grow its investment and lending platforms.
ECI Group has broken ground on a mixed-use project with retail space in Richmond Hill, Ga., a Savannah suburb. This $60 million project, dubbed The Averly Richmond Hill, will bring 291 residential units and 3.5 acres of retail space to the area by the first quarter of 2026.
The project is being developed on a 30-acre site on Ford Avenue, a major local corridor, about 18 miles southwest of Savannah. Synovus and CIBC provided construction financing, and ECI Construction serves as the project’s general contractor.
The Averly will offer 243 rental apartment units as well as 48 townhomes. Apartments will range from 770 square feet in a one-bedroom to 1,449 square feet for a three-bedroom. Townhomes will range between 1,851 to 1,984 square feet.
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Each unit will feature an open-concept design with in-unit laundry as well as walk-in closets, kitchen islands and private balconies or patios. Community amenities include an 8,400 square-foot clubhouse with a packing facility and co-working area, a pool, a dog park and two courtyards.
Project plans call 3.5 acres for ground-level retail space on two separate parcels. According to Yardi Matrix, more than 15,000 cars pass the property per day.
ECI Group portfolio investments
ECI Group’s portfolio spans more than 7,000 units across the Southeast and Texas region. The company has had a presence in the Savannah metro for more than a decade and is represented by The Ellis and The Columns at Coldbrook.
Last October, the company received a $350 million equity infusion from Almanac Realty Partners. This investment is central to ECI’s $3 billion plan to expand its investment and lending platforms over the next three to five years. This capital investment funded ECI Group’s acquisition of Ardmore at Flowers, now branded The Averly at Flowers, a 396-unit community in Clayton, N.C. The community is located on the Waterfront District of the Flowers Plantation, a 3,000-acre mixed-use property.
