Toro to Develop Community in Metro Atlanta Mixed-Use District
It will be the first multifamily component within the suburban project.
Toro Development Co. will start construction this month on Overlook, a 301-unit multifamily development taking shape within the 95-acre Cumming City Center mixed-use district in Cumming, Ga. The first units at the suburban Atlanta development are expected to deliver in fall 2027.
TDC announced this week that it closed on the land and secured financing to begin the project, which will be the first multifamily component at Cumming City Center. Pinnacle Financial Partners provided the loan for the Overlook development and EBSCO Real Estate is the sole equity partner. Details about the debt financing and equity investment were not disclosed.
Dwell Design Studio is the project’s architect. Amenities will include a resort-style pool, a fitness center, a courtyard, social courtyard spaces as well as a sky lounge, micro-offices and dog park.
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Based in Alpharetta, Ga., TDC will leverage its decades of experience to integrate Overlook with the mixed-use district. Cumming City Center is a walkable, mixed-use development located in the fast-growing Atlanta suburb located about 40 miles north of downtown Atlanta. The development serves as a community hub with an amphitheater for live music and other events. The neighborhood also includes shops, restaurants, green space, walking trails and a new municipal building.
Cumming’s population has risen 38 percent in the past five years, according to Census Bureau data. The ongoing expansion of GA-400 is expected to increase connectivity to the greater Atlanta region.
A mixed-use and multifamily focus
The TDC team, led by veteran real estate developer Mark Toro, focuses on multifamily and mixed-use developments in the Greater Atlanta region, including Edge on the Beltline, Anthem on Ashley and BOHO4W, now Camden Fourth Ward.
Work is underway on Medley, a $560 million, 43-acre mixed-use community in Johns Creek, Ga., set to open in October of this year. In November 2024, a joint venture between TDC and Ascentris secured financing for the first phase of the 960,000-square-foot development located in northeastern Atlanta. Funding included an equity investment from Ascentris and a $158 million construction loan issued by Banco Inbursa.
Medley will include 883 luxury apartments and townhomes, 164,000 square feet of retail space, 110,000 square feet of office, a 150-key hotel and a 25,000-square-foot plaza. The development is located near a Boston Scientific life science facility and within walking distance of a 300,000-square-foot retail center. The community is about 32 miles southwest of downtown Atlanta.
TDC announced plans in July 2022 to develop The Reid, a 186-unit multifamily property in Tucker, Ga. Approximately 28 of the units, or 15 percent, were designed as affordable for residents earning 80 percent of the area median income. The community is located about 17 miles northeast of downtown Atlanta.
