It can be difficult to find many apartments to rent in the popular Reynoldstown section of Atlanta, but a pair of development proposals may bring 350 new possibilities.
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The Allen Morris Co. is seeking to build two apartment complexes with a total of 350 apartments at 930 Mauldin St. and 205 Holtzclaw St., both along the Eastside Atlanta BeltLine. Allen Morris is working in partnership with Metzger & Co. and Morrison Properties, Atlanta Business Chronicle reported.
The projects received approval last week from neighborhood community improvement organization Reynoldstown Civic Improvement League, the ABC reported.
Allen Morris will next seek approval from the city to entitle the 205 Holtzclaw property for a 208-unit apartment complex. The property at 930 Mauldin already is entitled for multifamily.
“This project is strengthened by the deep neighborhood insights that Morrison Properties brings to the table, and the trailblazing entitlement success that Metzger & Co. has forged with the Holtzclaw property,” Allen Morris Development Associate William Bell said in an email.
The properties sit next door to one another just north of the Madison Yards mixed-use development and the Metalwork Lofts townhome project along Holtzclaw Street. Both projects will set aside units as affordable, following BeltLine overlay district guidelines, Bell said.
Reynoldstown is part of the Atlanta East submarket, which commands some of the highest rents in the city, according to Haddow & Co. With 576 units underway in the third quarter and more than 3,100 in the pipeline, Atlanta East apartments also exhibited some of the strongest occupancy rates at over 97%.
Bell declined to say what market-rate rents the projects would seek, but said the firm is bullish on the Reynoldstown market in the long term.
“I believe that the fundamentals in the City of Atlanta are still very strong. We just need to build more housing,” he said. “Sure, there are some softer submarkets in the larger [Interstate] 285 area, but we feel Reynoldstown is a very strong market.”
Allen Morris obtained common equity for the project and is in the process of taking out a construction loan, the ABC reported. Both an existing single-story warehouse and apartment complex on the properties would be razed to make way for the projects, Bell said, with the first phase delivering in 2028.
“Our partnership is working toward putting a shovel into the ground in Q4 2026,” he said.
The new project comes after Allen Morris opened the 22-story Stella at the Star Metals apartment tower in West Midtown last month.
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