PENLER Kicks Off Its First Development
- Dec 06, 2019
Atlanta-based real estate firm PENLER has launched construction on The Parker, a 240-unit community in Dawsonville, Ga.
The real estate investment platform partnered with NXT Capital and Synovus Bank on the development. The Parker is PENLER’s first development, following its first multifamily acquisition this fall. In September, the firm was a minority investor in the purchase of a 230-unit luxury property in Charlotte, N.C.
Located at 4754 Dawson Forest Road E., the development site sits directly on the GA 400 corridor. The 40-acre property is near 1 million square feet of shopping, including the North Georgia Premium Outlets, Publix-anchored Dawson Crossroads and Kroger-anchored Dawson Marketplace.
Slated for completion in the first quarter of 2021, the $40 million project will consist of 10 two-story buildings spread across less than half of the property. The unit mix will feature one- to three-bedroom direct-entry apartments. Amenities will include a 1.3-acre lawn, a swimming pool with sundeck and grilling areas, a dog park, walking trails, a fitness center and cybercafé.