South City Partners Opens 288-Unit Community
The developer took out a $45 million construction loan for this project.
South City Partners has completed OSLO Apartments, a 288-unit multifamily property in Fairburn, Ga., an Atlanta suburb. Partners on the development included general contractor McShane Construction Co. and architect of record Dynamik Design.
The owner funded the development with help from a $45.1 million construction loan originated by SouthState Bank in November 2022, according to Yardi Matrix information. That note is set to expire in 2027.
The 31-acre community encompasses five three- and four-story buildings, along with 4,000 square feet of retail and 7,000 square feet of amenity space. The unit mix consists of one-, two- and three-bedroom layouts, varying from 703 to 1,508 square feet. Select apartments feature private balconies or patios.
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Common-area amenities include a swimming pool, fitness center, clubroom, pet spa and dog park, as well as pickleball courts. Additionally, the property has a walking trail, EV charging stations, social gathering areas, fire pits and gas grills.
Located at 7000 Renaissance Parkway, the community has access to Interstate 85 and is less than 11 miles from Hartsfield-Jackson Atlanta International Airport. Downtown Atlanta is some 21 miles northeast.
Atlanta development projects
Atlanta currently has 155 multifamily developments under construction, expected to create nearly 38,000 units, according to Yardi Matrix information. Additionally, there are almost 560 projects in the prospective and planning stages, slated to add some 126,000 apartments.
In May, SHR Resi, a subsidiary of Songy Highroads, completed The Howell, a 212-unit luxury community in Atlanta. The developer obtained a $51 million loan for the construction of the seven-story building.
A month earlier, High Street Residential acquired a 4-acre land in Brookhaven, Ga., for the development of Residences at Perimeter Summit, a 350-unit project that is expected to come online by the end of the year.
