ECI Group and its joint venture partner Phoenix Capital have commenced construction of the $101m luxury apartment and townhome development, Averly East Village, in Roswell, Georgia, US.
This development has been designed by Rule Joy Trammell Rubio Architects.
Truist is offering construction financing for the development.
Construction of Averly East Village is anticipated to be finished in late 2024.
ECI Group chief investment officer Jimmy Baugnon said: “The development of Averly East Village comes at a particularly opportune time, with North Atlanta experiencing explosive growth in jobs and residents.
“We are excited to play our part in helping to address the shortage of new housing by building luxury residential units on what was a mostly vacant strip center in the middle of the affluent Roswell area.”
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The redevelopment plan for the East Village Shopping Center has drawn inputs from neighbours and other local stakeholders.
The inclusion of live-work units in the multifamily development will help in the integration of the residential component with the nearby retail elements.
Furthermore, the community green and amenity pavilion to be built will be made accessible for public use.
Demolition of the current vacant commercial buildings and construction of the project infrastructure form the first stage of the project.
The demolition process has already started.
Averly East Village will feature 335 one-, two-, and three-bedroom apartments as part of the larger East Village mixed use development.
The development will include 74 townhomes, 75,000ft2 of retail space, and a large public central green with pavilion.
The project will offer resort quality landscaping, architecture, and interior finishes.
It will also provide expansive pool with sun shelf, pool deck with cabanas, two outdoor kitchens, a clubroom with gourmet chef’s kitchen, synthetic turf dog park, dog spa, two-storied fitness centre, outdoor gym, café-style coffee lounge with individual work from home spaces, bicycle storage, central green with pavilion.
Image: Averly East Village will provide expansive pool with sun shelf, and pool deck with cabanas. Credit: Richard Mcall from Pixabay