SHR Resi Completes Atlanta Luxury Community
The firm took out a $51 million construction loan for this development.
SHR Resi, a subsidiary of Songy Highroads, has completed The Howell, a 212-unit luxury community in Atlanta.
The company partnered with Walton Street Capital and broke ground on the project in 2022, financing its construction with a $51 million, 4-year loan originated by Ameris Bank, according to Yardi Matrix information.
The development team also included Cooper Carry Architects, Focus Design Interiors and general contractor Reeves Young. Gables Residential serves as property manager.
The seven-story building consists of one-, two- and three-bedroom floorplans ranging between 664 and 1,488 square feet, as well as 3,500 square feet of ground-floor retail space. Apartments feature walk-in closets, washers, dryers and private balconies in select layouts.
READ ALSO: Multifamily Trends in Outdoor Spaces
Common-area amenities include coworking space, swimming pool with deck, clubhouse, pet run and spa, fitness center and business center. Additionally, the seventh floor has an open-air resident lounge.
Located on almost 3 acres at 1850 Howell Mill Road NW, the community is close to a host of dining and retail options, including The District at Howell Mill shopping center, while downtown Atlanta is some 5 miles away. Hartsfield-Jackson Atlanta International Airport is some 15 miles southwest.
Atlanta’s growing multifamily sector
Metro Atlanta’s multifamily sector currently has some 164 communities under construction, which will add nearly 40,200 units to inventory, Yardi Matrix information shows. Additionally, there are 99 planned projects and 471 prospective developments that total almost 130,000 apartments.
Last month, High Street Residential purchased a 4-acre site in Brookhaven, Ga., for Residences at Perimeter Summit. The 350-unit luxury development is scheduled for completion by the end of the year.
In February, ECI Group and The Griffin Fund broke ground on The Averly Collins Hill, a 300-unit community. Slated for delivery next year, the development is part of the larger Lawrenceville Gateway project.
