South Florida Real Estate Firm PointOne Holdings has partnered with Atlanta's Brand Properties to develop a 194-unit class-A multifamily community near the city of Lawrenceville, located in Gwinnett County, a high growth suburb of Metro Atlanta.
The to-be-developed property, currently branded Sugarloaf Marketplace, will be constructed on 8.5 acres and include three residential buildings which will feature best-in-class finishes. The community will include a resort-style saltwater pool with an expansive pool deck featuring pergolas and grilling areas, a fully equipped fitness facility, a large co-working/business center including a cybercafé, and dog park with dog wash facility. Apartment homes will feature 9 ft ceilings, granite countertops, stainless steel appliances, ceiling fans, and walk-in closets.
Located on Duluth Highway, the property boasts excellent access to I-85 and enjoys a daily traffic count in excess of 35,000 vehicles per day. Residents will benefit from strong public schools and adjacent retail with tenants such as L.A. Fitness, Massage Envy, and Cupcake People. Furthermore, the property is located directly across the street from the 1.2 million square foot super-regional mall, Sugarloaf Mills, which provides entertainment (Dave Busters, AMC Theater, Lunar Golf and Bass Pro Shops), retail (Foot Locker, Forever 21, Nike Store), as well as a variety of food concepts (Starbucks, Subway, Cold Stone Creamery.)
"We are privileged to work with the leadership team at Brand Properties for the development of our newest multifamily property in Atlanta, Sugarloaf Marketplace," said Ben Colonomos, PointOne Holdings' managing partner. "With great partners, a high-employment, high-growth, and high-barrier-to-entry location, we are very confident that this will be a great investment to our family of investors."
Gwinnett County is presently the second largest county in the state of Georgia with an estimated population of 920,260 according to the most recent United States census data. It has led the nine-county Atlanta MSA over the past 46 years in population growth and is projected to continue that trend through 2020. Gwinnett County has approved a limited number of multifamily developments over the past several years resulting in a shortage of Class-A multifamily communities.
"We are excited to be breaking ground on our latest development, Sugarloaf Marketplace," said R. Brand Morgan, CEO of Brand Properties. "Our developments in this area of Gwinnett have been our most successful, and we expect that trend to continue with Sugarloaf Marketplace. The team at PointOne approaches developments in the same manner that we do - build a quality product in the right location and you will be positioned well for success."