PCCP, LLC announced that it formed a joint venture with Middle Street Partners for the site acquisition and construction of BeltLine & Boulevard, a 323-unit Class A multifamily community with 5,000 square feet (sf) of retail situated on 3.1 acres at 1015 Boulevard SE in the Eastside Atlanta submarket of Atlanta, GA. The project is anticipated for completion in the second quarter of 2023.
“PCCP believes this is a compelling opportunity to partner with Middle Street Partners, who has a favorable track record of developing Class A, well-located multifamily units throughout the Southeast,” said Kevin Chin, Managing Director with PCCP.
The project’s unit mix will consist of 15 studios, 252 one-bedroom units, and 56 two-bedroom units with a total of 274 market-rate units and 49 affordable units. Unit interiors will feature quartz countertops, stainless steel and gas appliances, oversized windows, hard surface wood-look flooring, private balconies or patios, and washer/dryers. On-site amenities for BeltLine & Boulevard will feature a fitness center, club room, co-working area, game room, pet spa, and a resort-style pool with outdoor lounge.
The infill project has 350 feet of direct frontage on and direct access to the Atlanta BeltLine, a 22-mile greenway and outdoor amenity that has spurred over $4.6 billion of investment across Atlanta over the last decade. The site also sits just three miles outside of Downtown Atlanta and is within one mile of Interstate 20 which provides access to employment nodes across the metro. Additionally, BeltLine & Boulevard is located within the Grant Park neighborhood of Eastside Atlanta, which has benefited from $600 million of public and private investment to expand the local amenity base, including 422,000 sf of new or redeveloped commercial space, a $50 million renovation to the Grant Park Zoo, and continued expansion of the BeltLine trail. It is also directly across from Boulevard Crossing Park, a five-acre park with regulation sports fields that is undergoing a 20-acre expansion to include greenspace, water parks, and walking paths that connect directly to the BeltLine.
Middle Street Partners is a Charleston, SC-based multifamily development and investment firm with strong ties to the Atlanta MSA. MSP has acquired over 7,800 units and developed over 2,400 units since inception for a total of $1.3 billion in capitalization, and currently has 6,150 units owned or under construction across Florida, Georgia, and the Carolinas.