Morris Brown To Anchor Innovation Space At Vine City Development: The Atlanta Deal Sheet
A consortium of developers is spearheading a mixed-use development in Atlanta’s Vine City neighborhood that will be anchored by classroom and innovation space for Morris Brown College.
Resurgence Commercial Partners has targeted an 8-acre site at 50 Sunset Ave. and 41 Griffin St. in Atlanta’s Westside to create a destination that could include a 100-room hotel, retail spaces and a 30K SF learning and innovation facility built in partnership with the historically Black college, according to a press release.
RCP is made up of data center developer ImpactData, The Miles Development Group and Gibraltar Capital Partners.
The innovation facility would support business and tech incubation, workforce development and conference programming for the college. The center, which will include ground-floor retail, will be housed in the former Morris Brown Student Center, Gibraltar Capital founder Keith Mack said.
Prestwick Cos. received approval last year from Invest Atlanta for the affordable housing aspect of the project, which is set to include 200 mixed-income rental units and 15 for-sale homes. Prestwick is working with Mercy Housing and Cityscape Housing to develop the project.
Mack, a veteran hotel and office developer, said his firm has been tapped to develop and identify an operator for the boutique hotel. He said he hopes the group can nab construction financing and begin construction on the commercial portion by year’s end.
Mack said the hotel would likely be designed for both short-term and long-term stays. The operator of the hotel could tap into Morris Brown’s hospitality program for training and staffing with students.
“In order to kind of combat the issues with demand, we’re exploring a flex hotel similar to Scout Living," Mack said. “We’re talking to a couple of flags right now.”
DEVELOPMENT
The Atlantic Cos. broke ground on Hillrose Market, a mixed-use project adjacent to the downtown Roswell City Hall that includes a 75K SF retail village, an office building and the adaptive reuse of the former Roswell Police Department building into ground-floor retail and second-floor workspace.
Atlantic plans on 18K SF of office at 25 Hill St. and 11K SF of office space in the former police station, according to a press release. The developer is also planning 143 luxury apartments and 16 townhomes. The project is set to deliver in the second half of 2027.
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Wisconsin-based Gorman & Co. is moving forward on a 15-story residential tower called The Sanctuary next to Trinity United Methodist Church across from Atlanta City Hall, Urbanize Atlanta reported. Plans include 83 affordable apartment units, retail, a fitness center and an outdoor terrace, according to an application filed with the city of Atlanta. The 93K SF project at 265 Washington St. is slated to cost $26.7M, according to the application.
Urbanize reports the project is part of an overall $41M redo of the Trinity church campus, being done in conjunction with the church.
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Broward Development is aiming to turn a 1960s 29K SF industrial building into a four-story self-storage facility. Broward applied to convert the building at 687 Humphries St. into 93K SF of climate-controlled self-storage.
Broward’s Brandon Weiner told Bisnow it has no operator set up yet for the facility, and the development timeline is still in flux.
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California-based Meniscus Group purchased 5400 Fulton Industrial, a 651K SF cold storage warehouse in Atlanta, for $48M from Austin-based Glen Una Management Co., according to records with the Georgia Superior Court Clerks' Cooperative Authority database.
Glen Una bought the distribution facility in 2016 for $28.4M, according to Fulton County property records.
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An Orlando-based senior housing operator bought another property in Metro Atlanta.
Sentio Investments purchased Village Park Peachtree Corners for $52.1M from Century Bridge Capital, according to records with the Georgia Superior Court Clerks' Cooperative Authority database.
The complex at 5701 Spalding Drive includes both independent and assisted living facilities, according to its website. Earlier this month, Sentio acquired Village Park Senior Living in Alpharetta from Century Bridge for nearly $100M, Bisnow previously reported.
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Maryland-based XSite Capital Investments purchased Park at Arlington, a 188-unit Class-A apartment complex in Covington, from AML LLC for $33M, according to a press release. Denver-based AML previously purchased the property at 30 Gross Lake Parkway in 2021 for $25M, according to Newton County property records.
Global Real Estate Advisors’ John Topping, Taylor Brown and Chandler Brown brokered the sale.
LEASES
Accounting firm giant KPMG has inked a 105K SF lease at the Proscenium building in Midtown with plans to move from its 100K SF office space at Truist Plaza in Downtown and its 22K SF hub at One Atlantic Center in Midtown, the Atlanta Business Chronicle reported.
Cushman & Wakefield’s Kirk Diamond, April Parrish and Erin Smith, along with JLL’s Pat Murphy and Will Yeatman, represented KPMG. Cousins Properties’ Jeff Dils represented his firm, which is the co-owner along with Town Lane, according to the ABC.
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Federal Savings Bank inked a 5,300 SF lease at 2000 Riveredge Parkway, a 12-story, 238K SF office building in the Cumberland/Galleria submarket. Lincoln Property Co.’s Gil Russell brokered the deal for the landlord, Lightstone Capital.
Lightstone also secured a nearly 4K SF lease with Sterling Independent Services in the tower.
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Design and planning firm Kimley-Horn signed a 16,500 SF lease at The Collection at Forsyth, a 561K SF open-air retail center off Peachtree Parkway in Cumming. JLL’s Sherri Wilson brokered the deal for the landlord, CTO Realty Growth Inc.
Kimley-Horn is part of a string of new tenants at The Collection at Forsyth. The Cheesecake Factory plans a new restaurant location off one of the center’s traffic circles. Berkshire Hathaway HomeServices Georgia Properties took a 4K SF spot, and eyewear retailer Warby Parker inked a 1,200 SF storefront location.
