New Apartments in Little Five Points

apartments

Invest Atlanta, Atlanta’s development authority, will vote this week on the possibility of developer Greystar receiving a $54 million revenue bond to develop a new construction project in Little Five Points. Project plans filed with the city by Greystar say that the development will be 268k SF and will include about 15k SF of retail space on the ground level; the development will also feature a five story parking deck. The project, which will sit at 1150 Wade Street, will include 285 units and is expected to receive rents in the $2 PSF range. However, if the project receives the revenue bond from Invest Atlanta, they will be required to offer 10% of the units at 60% of the area’s median income. If developed, the city would collect as much as $480k in property taxes in the first year alone.

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