Source: Atlanta Business Chronicle
MARTA tapped Place Properties/H. J. Russell & Co. to develop the $51.3 million King Memorial Station Transit Oriented Development (TOD).
The development will include about 400 apartments units (with 20 percent earmarked as affordable housing) and 10,000 square feet of retail space. The project breaks ground later in 2017.
The multi-story modular project is the first of its kind in Atlanta to be co-located with a transit hub, MARTA says. The proposed design aligns more closely with the MARTA station and has the potential to enliven Memorial Drive and the surrounding area, it added.
“Redevelopment of the Memorial Drive corridor has accelerated over the past few years, and we are thrilled with the energy and innovative approach that Place Properties/H. J. Russell & Co. has brought to this TOD project,” MARTA GM/CEO Keith T. Parker said, in a statement. “The King Memorial TOD reflects our commitment to the live/work/play experience and our customers who relish a car-free lifestyle.”
The Place Properties/H. J. Russell & Co. joint venture replaces Walton Communities, which was initially awarded the project in 2014.