Vista Realty to Develop $41M Multifamily Complex
The 303-unit complex near Atlanta has an expected completion date of September 2020.
ATLANTA, GA – Vista Realty Partners has announced plans to develop a 303-unit multifamily complex in Douglasville, GA. The $41 million project is located in Douglas County near Sweetwater Creek State Park.
The firm’s newest community will feature units ranging from 600 square feet to 1,450 square feet, offering rent options from $850 for a one-bedroom residence to $1,500 for a three-bedroom residence. The property, surrounded by 40 acres of woodlands, will also feature an on-site nature trail and fitness area.
The development is situated on Riverside Parkway with access to I-20 and I-285 corridors, located near Hartsfield-Jackson International Airport and Atlanta’s Midtown district.
Phillips Architects has designed the complex and Synovus Bank has provided $26 million in construction financing for the apartment community. Construction on the project will begin next month and is expected to be completed in September 2020.
The project acts as the submarket’s first new multifamily housing development in the last decade.
Vista Realty Partners is an Atlanta-based real estate investment company that focuses on developing and operating rental and for-sale multifamily housing throughout the Southeast. Founded in 2000, the company’s portfolio consists of more than 60 properties with more than $1.4 billion in value.