Wood Partners Expands with Three Southeast Developments
The projects are part of a line of cost-conscious communities intended to offer residents lower rents.
Wood Partners has started construction on three multifamily properties totaling 809 units across the Southeast as it expands its attainable housing initiative. The new properties are in the Atlanta, Nashville, Tenn. and Palmetto, Fla. markets.
The Atlanta-based developer is able to offer cost-effective rents by choosing well-located suburban locations rather than more expensive urban sites and executing efficient and consistent designs. The firm’s Southeast expansion is addressing the housing demand in the region’s fastest growing markets.
The communities will be built to include upscale finishes including granite countertops, stainless steel appliances and community amenity spaces. In addition to focusing on suburban locations and design efficiency, the developer also saves on costs by using minimalistic landscaping. These savings on construction will allow Wood Partners to charge lower rents.
Last year, Wood Partners introduced several of these communities including Union City in Atlanta, Conner Park in Tampa, Fla., Mint Hill in Charlotte, N.C., and Rayzor Ranch in the Dallas suburb of Denton, Texas. Wood Partners broke ground on Rayzor Ranch, a 192-unit community, in October and is expected to deliver that property by the third quarter of this year.
New developments, familiar style
Gallatin, located at 1330 Nashville Pike in Nashville, is the largest of the three new planned multifamily communities. It has a 372-unit mix of one- and two-bedroom apartments. The 35-acre property will include 5,000 square feet of commercial space. Amenities will include a clubhouse, fitness center, business hub, pool, dog park, amenity lawn and detached rental garages. Wood Partners broke ground on Gallatin in February and expects to deliver the first units by spring 2026.
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Palmetto, located in the Florida Gulf Coast city of the same name, is a 246-unit, four-story development featuring one-, two- and three-bedroom apartments. Wood Partners broke ground in January on the project and expects to complete it by May of 2026. Amenities will include a pool, sundeck with shade sail, grilling areas, fitness center, clubhouse with pool table and shuffleboards, hospitality kitchen, coworking space, day office and package room.
The property will also have a dog park and outdoor pet wash. Palmetto is centrally located between Tampa, St. Petersburg, Sarasota and Lakewood Ranch, giving residents proximity to beaches, medical facilities as well as shopping and dining destinations.
Ben Hill, a 236-unit community in southwest Atlanta, will include one-, two- and three-bedroom layouts. Amenities will include a clubroom, coworking space, day offices, fitness center, pool and dog park. The community is located near Hartsfield-Jackson Atlanta International Airport, Georgia’s largest employer, as well as major industrial districts in Fulton and along the I-85 South. Wood Partners began construction on Ben Hill in January and expects to complete the property in August 2026.
Growing national portfolio
Wood Partners currently owns more than 80 properties totaling about 25,000 units across the United States. The company has developed and acquired more than 110,000 multifamily units with a combined capitalization of $23 billion.
Earlier this month, Wood Partners broke ground on Alta Nashoba Valley, an all-electric 229-unit community in the Boston suburb of Bolton, Mass. Following its delivery in December, the company plans to set aside about 25 percent of the units as affordable housing. The property will have a mix of one-, two- and three-bedroom apartments across four three-story buildings.
Out West, Wood Partners started construction last month on Alta Visa, a 304-unit development in Lehi, Utah, a Salt Lake City suburb. The property is part of Vistas at the Pointe, a transit-oriented development, and is slated for completion in the second quarter of 2027.
