(Read more on the multifamily market.)

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ATLANTA-Locally based Cortland Partners has begun constructionon the $26.6 million, 222-unit Avalon Ridge Apartments at 183 Mt.Zion Rd. The complex will consist of four, split-level buildingsand will include both market rate and workforce housing.

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Units will be one-, two- or three-bedroom apartments built inthe Craftsman style. Among interiors features are granitecountertops, wood cabinetry and pre-wiring for high-speed Internetaccess. The clubhouse and amenity buildings will wrap around acentral courtyard with a swimming pool, playground and picnicareas.

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"We worked closely with neighbors to plan the community anddevelop programs for the residents, then partnered with neighborsand government officials to properly zone the site--now designatedas a Housing Enterprise Zone--and secure an inducement of taxexempt municipal bonds," says Cortland Partners president StevenDeFrancis, in a prepared statement.

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Cortland Partners development director Colin Edelstein tellsGlobeSt.com that construction began in October with the firstresidents are expected to move in summer 2008, with full completionof the project in winter. Edelstein says that target rents for theproject have not yet been determined. "The property is located insoutheast Atlanta in a rapidly growing urban area with a need forrental units," Edelstein says. "We felt that including workforcehousing was an important part of this project."

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Other project Cortland Partners is developing in Atlanta includeAvalon Park, a project that will include a mid-rise building thatcaters to seniors and a garden-style community that caters to allages, and the 154-unit Ivy Park town home project.

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