Allen Morris Expands Atlanta Footprint With $100M Development
The company secured $64 million in construction financing for an upscale community in this northern suburb.
The Allen Morris Co. has broken ground on the 337-unit Bryn House project in North Druid Hills, Ga. Truist and PNC provided a $64 million construction loan for the $100 million luxury development. Juneau Construction Co. serves as the general contractor for the five-story project that is slated for delivery in the spring of 2023.
The mixed-use property is slated to have 574,479 square feet of buildable space, and include a mix of one- to three-bedroom floorplans, a 175,000-square-foot parking deck, as well as 2,000 square feet of ground-floor retail space. Plans also call for a pool with private cabanas, grilling areas, a gym, an event space, a game room, and an onsite dog park.
Located at 2490 N. Druid Hills Road on a 6-acre parcel, the community will be some 9 miles northeast of downtown Atlanta. Several retail, dining and entertainment options will be available within a 1-mile radius, while Morningside Nature Preserve will be 3 miles away from the upcoming property.
According to Spencer Morris, CEO of Allen Morris, Bryn House will serve health-care workers and university employees at Children’s Healthcare of Atlanta and Emory University. Both entities are currently expanding, fueling housing demand along the North Druid Hills corridor.
In the past couple of years, Allen Morris was also involved in a West Midtown project. In partnership with Sentral, the company opened Star Metals Residences, the luxury apartment component of a $344 million mixed-use development that includes a 267,000-square-foot office building and a 176-key boutique hotel.