An Augusta-based developer is gearing up to start construction on 321 apartments over ground-floor retail in two buildings on the Westside of Midtown Atlanta once spring weather arrives.
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Southeastern completed two parking decks on its 7-acre site at 480 17th St. last month, ending the first phase of construction on the Urba ATL mixed-use building. The developer is now preparing to go vertical on the $90M apartment and retail component of the project, Southeastern President Mark Senn told Bisnow.
Once finished, Urba ATL will consist of 321 market-rate apartments and nearly 30K SF of retail on the ground floor of two mid-rise buildings.
Southeastern has so far self-funded construction, Senn said, so it can pause work until the spring to start building the wood-framed apartments in the Loring Heights neighborhood, just west of Atlantic Station.
It has been a long journey to get to this point in Urba ATL’s construction.
Originally, Kroger was expected to anchor a mixed-use project at the site with Fuqua Development. Fuqua built the retail surrounding the site, including the McAlister's Deli and the shopping center anchored by Blaze Pizza.
Senn said Kroger partnered with Southeastern to develop its mixed-use project on the site, but the grocery chain ultimately decided to pull out of the project, and instead it sold the land to Southeastern for $10.9M in 2021.
“Because [Kroger] opted to stay in their store where they have it and not come here, we had to go back through redesign and go back through the communities and seek a variance from what was approved. So we basically had to start over with our plans,” he said. “It’s been a struggle to get to where we are.”
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Southeastern encountered another bump in the road when two subcontractors filed liens against the general contractor of the project last summer over a dispute, Senn said. Both liens have since been satisfied, according to Fulton County records.
Southeastern has developed several other multifamily projects, including Urba Arlington in Virginia, The Hammocks at Long Point in Savannah and One Riverside in Chattanooga, Tennessee.
Urba ATL is planned to include amenities like coworking spaces, an outdoor zen and activity garden, a library, an e-sports gaming room and lounge, a dog park, a gym and a rooftop pool and clubroom, according to Southeastern’s website.
The developer has had conversations with lenders about a construction loan, but it is first focused on getting a picture of construction costs before securing a mortgage.
“We like the market and we love the location,” he said. “Obviously, we have a lot invested, so we’re going to finish it.”
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