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Crescent Communities is starting a new apartment project in the heart of Atlanta's Old Fourth Ward neighborhood.
Crescent, in a joint venture with State Farm and Transwestern Investment Group, has broken ground on NOVEL O4W, a 233-unit apartment project at 525 North Ave., within walking distance of Ponce City Market and the BeltLine's Eastside Trail. The project is slated to include 10,500 SF of creative office space as well, according to Crescent officials. Costs of the project were not disclosed.
Earlier this year, Crescent picked up the 2.2-acre site at the southwest corner of North Avenue and Arnold Street in Midtown from Seven Oaks Co., which originally intended to develop a 172K SF loft-styled office building. Crescent plans to add amenities to the project, such as a coffee bar, air-conditioned bike storage and an indoor and outdoor yoga terrace. The project is expected to deliver by the middle of 2019, officials said.
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