Multi-strategy real estate development firm Kaplan Residential and New York City-based real estate investment firm Dune Real Estate Partners have broken ground on a new build-to-rent (BTR) townhome development in metro Atlanta. On 20 acres, Avondale East will offer 239 one-, two-, and three-bedroom townhomes ranging from 1,050 to 1,613 square feet with personal garages.
Amenities will include an 8,000-square-foot clubhouse, a state-of-the-art fitness center, co-working space, a lounge area, a pool, fire pits, ample green space, walking trails, and pocket parks. Avondale East’s amenity program has been curated to enhance wellness, community, and connectivity of residents.
Partnering with Brock Built Homes as general contractor, the homes are slated for completion in the summer of 2023. “In response to unparalleled rental demand throughout Atlanta and the Southeast, partnering with Dune Real Estate Partners allows us to usher an enhanced build-to-rent product to the market,” says Morris Kaplan, founder and president of Kaplan Residential.
“Our firm was one of the first developers to introduce timely, vibrant build-to-rent concepts to Metro Atlanta more than 20 years ago through Townhouse Atlanta, and Avondale East brings this evolution full circle.”
Avondale East is steps away from the Indian Creek MARTA station and Electric Owl Studios, an environmentally friendly movie studio currently under construction. The BTR project’s location will provide residents with convenient access to Avondale Estates and downtown Decatur neighborhoods as well as Atlanta attractions such as the Mercedes-Benz Stadium, Centennial Olympic Park, and Georgia Aquarium.
“We are pleased to partner with Kaplan Residential, a leader in the Southeast market, to bring this differentiated project to life,” says Daniel Neidich, CEO of Dune Real Estate Partners.
Kaplan Residential acquired the land parcel from The Paideia School for $6.5 million in June 2021. To develop the townhome community, Niles Bolton Associates will serve as architect, Focus Design Interiors as interior designer, and J Lancaster Associates as civil engineer.
