Kennedy Wilson Makes Georgia Debut
An office building has been demolished to make way for the future community.
Kennedy Wilson has unveiled plans for Caldwell, a 382-unit luxury community in Sandy Springs, Georgia. The $139 million project, the firm’s first in the state, is being developed through a partnership with Japanese construction company Shimizu Corp.
Caldwell is being developed at a former UPS office site. UPS vacated the office in July 2025, relocating approximately 500 employees to other Atlanta-area locations. Kennedy Wilson purchased the 6.9-acre site from the previous owner that December for $16.5 million, according to Yardi Matrix.
New South Construction is acting as the general contractor of the project with Dynamik Design serving as architect and PEC+ as civil engineer. Kennedy Wilson began demolishing the former office property this summer to make way for the five-story multifamily community earlier this summer. Located at 35 Glenlake Parkway NE, Caldwell will be adjacent to U.S. 19 with access to Interstate 285. Perimeter Mall and Perimeter Marketplace are also nearby and downtown Atlanta is 15 miles south.
The community is expected to open in 2028. Apartment sizes will average 937 square feet. Future residents will have access to more than 17,500 square feet of indoor and outdoor amenities.
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John McCullough, president of the Multifamily Development Group at Kennedy Wilson, said in prepared remarks that Sandy Springs’ employment growth, limited new multifamily supply and affluent resident base attracted the company to the development opportunity.
Kennedy Wilson expands multifamily platform
Caldwell represents one of Kennedy Wilson’s latest ventures as it expands its multifamily platform. Throughout 2026, the company has continued to expand through new development partnerships and multifamily acquisitions across the U.S.
Most recently, in a joint venture with Kenedix, Inc. and Hulic Co., Ltd., Kennedy Wilson acquired Carraway, a 421-unit community in West Harrison, N.Y. The partnership paid $237 million for the asset in July.
Prior to Carraway’s acquisition, Kennedy Wilson launched a partnership with Jamison to develop 4,000 affordable units in Los Angeles. The joint venture is expected to encompass approximately 15 projects, comprising a mix of adaptive reuse and ground-up development.
