Novare Group JV Completes Atlanta Luxury Community 

Novare Group and BCDC have completed a 306-unit luxury community in Sugar Hill, Ga. Conclave Sugar Hill came online with the help of a $49.8 million construction loan originated by SouthState Bank in 2022, according to Yardi Matrix data.

Managed by RAM Partners, Conclave Sugar Hill consists of seven buildings with either two or four stories. The units have studio, one-, two- or three-bedroom configurations that range from 597 to 1,456 square feet. Shared amenities at the gated community include a two-story fitness center, club room with library and lounge, swimming pool, coworking space and a dog park. Additionally, the property’s 40-acre site has grade-level parking with 423 spots. 

Conclave Sugar Hill is at 1375 Hillcrest Drive, just off Highway 20. To connect the community to downtown Atlanta, there’s an 11.5-mile greenway circling the city that is integrated into the property, and interstates 985 and 85 are also nearby. Additionally, future residents will have access to several restaurants and retail options, all within 2 miles of their home.

Development activity in Atlanta has been significant lately. In the first half of the year, more than 5,600 units were delivered, most of which were in the upscale segment, a recent Yardi Matrix report shows. This has taken its toll on rents, with the metro posting the second-largest year-over-year rent decline among major U.S. markets—3.6 percent, to an average asking rent of $1,638 as of June.