This article was written by Diana Firtea for Multi-Housing News.
Atlas Real Estate Partners has obtained a $41 million construction loan for The Hawkins, a 192-unit multifamily community project in Atlanta’s Chamblee suburb. Walker & Dunlop arranged the financing from Santander Bank.
Working together with FIDES Development, Atlas intends to break ground on the project this spring. Nelson Worldwide provided architecture services, while New South Construction will be the general contractor. Completion is expected in early 2024.
The Class A property will encompass one-, two- and three-bedroom apartments. Amenities will include a fitness center, community room, pet spa, dog park, bike storage, swimming pool and rooftop sky lounge. The community will also feature 15,000 square feet of commercial and coworking space.
Situated in a Qualified Opportunity Zone, a few blocks from the Chamblee MARTA Station, the development site is just north of DeKalb-Peachtree Airport at 3300 Burk Drive. The 2.7-acre property is near Route 141 and Route 13, which provide direct access to downtown Atlanta.
Walker & Dunlop’s Keith Kurland, Sean Reimer and Michael Diaz arranged the transaction. Kurland was also part of the brokerage team that recently secured $385 million in construction financing for a 561-unit multifamily development in Brooklyn.
The development will break ground this spring.