Alliance Residential Latest In Suburban Apartment Development Push
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Apartment developer Alliance Residential is the latest to push into the suburbs with an urban-like apartment project.
The firm has secured a 7.5-acre parcel in Downtown Sugar Hill, a city in northern Gwinnett County, more than 35 miles north of Downtown Atlanta. The property, at 5010 West Broad St., is next to Sugar Hill City Hall.
Alliance plans a four-building, 315-unit apartment complex with 4,500 SF of retail, called Broadstone Sugar Hill, in the town center. Despite its suburban locale, the design will be urbanist, with the rest of Sugar Hill's town center as its amenity base.
The city is home to 50K SF of retail, restaurants and office space as well as a 387-seat performing arts theater and a 1,750-seat outdoor amphitheater. Alliance has three other properties in Atlanta, one each in Midtown, Buckhead and Greenbriar.
“Downtown Sugar Hill is creating a unique suburban city-center, and we fully embrace the city's commitment to creating a walkable, livable destination,” Alliance Managing Director Todd Oglesby said in a statement.
Alliance is following other apartment developers looking beyond Atlanta's core to Gwinnett County for new development opportunities, especially as construction and land costs escalate, making urban sites harder to pencil out. Among those developers are Novare Group, which is developing 600 units in Downtown Lawrenceville, and Brand Properties, which is developing 300 apartments in Peachtree Corners.
Most recently, Pollack Shores Real Estate Group proposed developing a 276-unit apartment complex off Suwanee Dam Road in northern Gwinnett County. That project will also be designed with an urban feel, with 18K SF of retail space and trail connections into Suwanee's Town Center, the Atlanta Business Chronicle reported.
“With people choosing to rent more than ever, residents desire a lively atmosphere with a strong sense of community,” Oglesby said.