A joint venture between Atlanta-based Imperium Development, Stockbridge Capital Group and Leaven Capital Group announced that they have commenced construction on a 212-unit Class A multifamily community on McGinnis Ferry Road in Suwanee, Georgia, an affluent suburb of Atlanta.
McGinnis Ferry will consist of one five- and six-story residential tower situated on six acres in the immediate vicinity of Suwanee Town Center, a vibrant mixed-use area anchored by a 10-acre urban-style park. The community will feature a market-leading amenities package highlighted by a rooftop terrace and clubhouse with a catering kitchen, a saltwater resort-style pool with cabanas and a hammock garden, a café with gourmet coffee bar, an outdoor kitchen and entertainment area, landscaped courtyards with a fire pit, grilling stations and a bocce court, a fully equipped 24-hour fitness center, EV charging stations, and a dog spa amongst other common area amenities.
“Given our deep ties to the Atlanta MSA, we fully understand the appeal of Suwanee and the need for the type of product we are developing,” stated Greg Power, Co-Founder of Imperium. “The strategic location of this project along McGinnis Ferry Road offers a distinct value proposition, enabling professionals of all ages to live in an upscale setting less than two minutes from Interstate-85 and within walking distance to downtown Suwanee’s shopping, dining, and entertainment. Nothing like this is currently being developed in the market.”
McGinnis Ferry’s floorplans will be comprised of one-, two- and three-bedroom layouts ranging in square feet from 700 to 1,200. All units will be outfitted with high quality interior finishes including, quartz countertops, luxury plank flooring, undercabinet kitchen lighting, stainless steel appliances, full-size washer and dryers, tile/tub showers with frameless doors, keyless entry, smart home technology with LED fixtures and high-speed fiber internet and cable packages.
McGinnis Ferry marks Imperium’s fourth development project in the Atlanta MSA. The company has broken ground on Walker’s Ridge Apartments in Cartersville, South Davis Apartments in LaGrange and Ava Oakwood in Oakwood. Like Suwanee, Cartersville, LaGrange and Oakwood benefit from strong long-term demographic and employment fundamentals and a lack of new supply.
“We are thrilled to partner with Stockbridge and Leaven on the development of McGinnis Ferry,” commented Mike Handza, Co-Founder of Imperium. “McGinnis Ferry marks the second project we have co-developed alongside these institutions, and we appreciate the trust they have in us and our ability to deliver high quality products with strong return potential.”
The JV has partnered with Atlanta-based firms Dynamik Design and New South Construction on the design and development of McGinnis Ferry. Financing for the project was provided by SeaCoast Bank and Trustmark.
Handza added, “Atlanta continues to benefit from strong population and corporate inflows, and we are pleased with the pace at which we have been able to move these projects forward. We look forward to expanding our footprint here as well as in other southeastern markets that exhibit similar growth profiles.”
