Middleburg Launches Lakeside Project in Savannah Suburb
- May 11, 2018
Vienna, Va.-based real estate investment, development and management firm Middleburg will commence construction on Mosby Lakeside, a Class A apartment community in Pooler, Ga., a northwestern submarket of metropolitan Savannah.
Situated on a 22-acre site near Pooler Parkway and I-16, the 316-unit, three- and four-story rental property will begin leasing in spring 2019.
Mosby Lakeside will be located across the street from a new hospital campus opening next year. In addition, a variety of retail, restaurant and mixed-use amenities are nearby. Almost 60 percent of Savannah-area jobs are located within a 20-minute drive from Mosby Lakeside.
“Our research-based investment strategy targets high-growth Southeastern markets that are demonstrating existing and continued job growth that translates to increased demand for rental housing,” Middleburg managing partner Chris Finlay told MHN.
“Our research team identified the Pooler market as an area that meets the strict criteria we have for site selection, based upon the proximity to employment, transportation, essential services and quality of life factors. The site combines not just these demographic factors, but also possesses unique features that enhance the resident experience and protect the project from the impact of future market supply.”
In addition to lake views, Mosby Lakeside will provide residents with an assortment of luxury amenities. They include a 7,500-square-foot clubhouse, a fitness center with yoga studio, an outdoor fire pit and kitchen, a resort-style saltwater pool, dog parks and pet spa, electric vehicle charging stations, a community garden, a kayak and canoe boat house and a hammock garden. The community will be built to NAHB Green standards.
The community’s one-, two- and three-bedroom floor plans will range in size from 748 to 1,405 square feet, and elevators will service more than half of all units. Several two-story carriage house homes will be available, each measuring 1,133 square feet in size.
Features and finishes will include nine-foot ceilings, secure keyless entry, stainless steel appliances, granite countertops, patios and balconies, spacious walk-in closets, Nest thermostats, in-unit washers and dryers, wood plank LTV flooring in living areas and USB outlets throughout the homes.
Dallas-based Humphreys & Partners is architect of record is Dallas, Tex.-based , while DEI of Atlanta is providing interior design services. Landscape architecture and civil engineering services are by the Savannah office of Thomas & Hutton.
Growing job base
“There are always challenges in making deals work, but this location and the continued and improving strength of the Savannah market in general allowed this project to work well,” Finlay said.
Added Middleburg partner Austin Knapp: “Middleburg is thrilled to be expanding its Southeast multifamily footprint in this vibrant submarket of Savannah. A rapidly growing job base, increased household income and strong demand for quality apartments were all compelling reasons for developing this very well-positioned community.”