Holder Properties Develops Auburn Student Housing
Construction is underway at the 719-bed community, which the developers first broke ground on last fall.
A new student housing project is coming to the Auburn University community. Holder Properties, an Atlanta-based student housing and commercial real estate developer, is the firm behind 320 West Mag, a six-story student housing property rising near the Auburn campus.
The news comes a year after Holder Properties purchased Peachtree Palisades, a 129,386-square-foot office building in Midtown Atlanta, for $23.3 million. The deal marked the firm’s first value-add buy in the office sector.
The mixed-use community will house 719 beds within 201 apartment units along West Magnolia Avenue, just across from Auburn University’s College of Business and College of Engineering Schools. The property will offer a mix of one-, two-, three-, four- and five-bedroom apartments, each fully furnished with private adjoining bathroom suites. Unit interiors will feature smart TVs, full-size washers and dryers, stainless-steel appliances and private balconies.
320 West Mag will feature 13,500 square feet of amenity space for residents, including a six-level parking deck, three outdoor courtyards, a swimming pool, hot tub, outdoor movie screen and sun terrace. Also included among the amenity offerings will be a two-story fitness center, a clubroom, private and group study rooms, bike storage, package delivery lockers and dedicated ride-share pickup locations.
The retail portion of the property will feature 11,500 square feet of space and will be anchored by a Chick-fil-a restaurant. Also included in the retail component will be a locally owned coffee shop and roastery.
Holder Properties first broke ground on the housing community in September 2019 and is anticipating a fall 2021 completion date. Atlanta-based firm Niles Bolton Associates designed the property. The same firm also led the design for Foundry Yards, a recently built 268-unit luxury residential community in Birmingham, Ala., as well as Trellis House, a 319-unit property in Washington, D.C.