NAP Breaks Ground on 276-Unit Gen Y Community in Historic Fourth Ward
- Oct 09, 2012
October 3 marked the official groundbreaking for Atlanta’s newest luxury multifamily project—North American Properties’ $35 million BOHO development.
BOHO—a 276-unit multi-rise that will front Atlanta’s Historic Fourth Ward Park—illustrates North American Properties’ new multifamily strategy of creating communities in walkable, urban neighborhoods destined to appeal to the unique needs and wants of Gen Y.
NAP is focusing its efforts on walkable locations that have a “cool factor” because sites are within walking distance of good restaurants, parks, coffee shops and other amenities. NAP is committed to designing and operating multifamily projects that provide a special experience for residents, who will take part in outdoor yoga, concerts and movies on the lawn and a number of other planned activities. NAP’s multifamily teams are borrowing from its retail operations, creating an experience similar to the one provided at Town Center at Atlantic Station and planned for Avalon, a $600 million mixed-use development underway in Alpharetta.
Located steps away from Atlanta Beltline’s Eastside Trail and a short walk from the future Ponce City Market mixed-use development, BOHO has a Walk Score of 82—a number that measures the walkability of an address, giving it a score of “very walkable.” BOHO will be set to welcome its first residents in fall 2013.
“This is one of the best apartment sites in the city of Atlanta,” said Richard Munger, vice president of development at NAP, who oversees the multifamily platform in the Southeast. “It is exciting to now see BOHO—and the overall strategy—come out of the ground.”
North American Properties, a privately held, multi-regional real estate company, has developed more than 13,000 units. NAP recently completed projects in Austin and Cincinnati and has more than 3,000 units in the pipeline in Dallas, Nashville, Atlanta, Alpharetta, Ga. and Tallahassee, Fla.
Images Courtesy of BOHO Twitter