A $147 Million Student Housing Development in Atlanta Has Finally Cleared a Major Hurdle
Radnor Property Group and the Madrone Community Development Foundation have announced that they’ve reached financial close on a massive $147 million student housing development in Atlanta’s West End neighborhood.
The project will bring a significant amount of new construction to the area, which is expected to provide much-needed housing options for students attending nearby universities. It’s worth mentioning that West End is one of Atlanta’s most rapidly growing neighborhoods, with a strong demand for student housing.
The Development Details
This is a joint project between Radnor Property Group and the Madrone Community Development Foundation. Radnor is a leading developer of student housing communities in the US, and this is one of their largest projects to date. The development will feature a total of 1,200 beds across 600 units, including a mix of shared and private apartments. The project will also include amenities like a fitness center, pool, and lounge spaces.
What this means for Atlanta’s Housing Market
This development will play a significant role in addressing the shortage of affordable housing in Atlanta. The project will provide students with a range of living options, from budget-friendly shared apartments to more luxurious private units. This should help to alleviate some of the pressure on the city’s existing housing market, which has been experiencing a severe shortage of affordable units. By providing students with a place to live, the development will also help to support the local economy and promote community development in the West End neighborhood.
What’s Next for the Project
The development is expected to break ground in the coming weeks, with construction scheduled to last for approximately 18 months. Once completed, the project is expected to be one of the largest student housing developments in the city. With its prime location in the West End neighborhood and extensive amenities, this project has the potential to become a flagship development for Radnor Property Group and the Madrone Community Development Foundation.
