TPA Residential plans to develop Kennesaw Apartments, a 318-unit community in Kennesaw, Ga. McShane Construction Co. was chosen to build the property, while Niles Bolton Associates is leading the architectural efforts for the project. Completion is expected in August 2024.
Located along South Main Street, the community will take shape within a 19-acre mixed-use development in downtown Kennesaw that will also include 44 townhomes, a retail outparcel and a linear park space. Public records show TPA paid $13.8 million for the development site in July, also taking out a $58.3 million construction loan from Citizens Bank.
Upon its completion, the three- and four-story building will feature one- to three-bedroom floorplans, as well as 10,000 square feet of ground-floor commercial space. Common-area amenities are set to include an outdoor pool, a fitness room, a gaming/club room, two courtyards, grilling stations, outdoor dining and lounge areas, among others.
The property is roughly 26 miles north of downtown Atlanta, east of U.S. Highway 41. The surrounding area has several shopping and entertainment venues.
Atlanta remains a strong market for multifamily development, with more than 31,500 units under construction as of September, according to Yardi Matrix information. One of the current developments, a 214-unit property in Gainesville, Ga., broke ground in August, with delivery expected in 2024.