In conjunction with the launch of RangeWater Construction, RangeWater Real Estate has purchased 50 acres in Atlanta to build a community of 156 build-to-rent (BTR) detached single-family homes and townhomes as well as 332 apartments. Minutes from The Exchange @ Gwinnett and Minor League Baseball’s Coolray Field, the community is expected to begin construction in July with the first units being delivered in October 2023.
“This is our second build-to-rent neighborhood in Gwinnett County and fourth multifamily project, so it’s fair to say RangeWater is bullish about this submarket. This area is reminiscent of The Battery Atlanta, developed by the Atlanta Braves, where we partnered to build several apartments including Home at The Battery and Spectator,” says Brian Oates, executive managing director of development at RangeWater.
“Plans for Gwinnett exhibit that same kind of energy, and we want to contribute with thoughtfully planned housing for its residents. Our ability to launch RangeWater Construction in tandem with the groundbreaking of The Mabry and The Margot makes this project even more exciting.”
Part of RangeWater’s Storia division—a BTR home portfolio that launched in 2020—The Mabry will allow residents to rent a detached single-family home or a townhome. Ranging from three to four bedrooms and two to three-and-a-half baths, the homes will have a backyard or patio and separate amenities from The Margot, including a pool, an events lawn, a dog park, and a walking trail.
With 336 units, The Margot apartment community is being built with work-from-home in mind. The community’s clubhouse will have work pods and study booths with an on-site coffee bar and an 1,000-square-foot retail space that will be open to the public. A terraced English garden, a native plant meadow, an infinity pool, an outdoor kitchen, an event space, and two dog parks add to the development.
“This community combines our build-to-rent and conventional multifamily concepts into one development, showcasing for our home state our signature RangeWater design and vision,” says Steven Shores, chairman and CEO of RangeWater. “I’m proud of our team for seeing the energy and potential in this area. The incredible outdoor amenities will speak to the beauty of Northeast Georgia.”
RangeWater hired Alp Kirmizioglu as the director of construction to oversee projects like The Mabry and The Margot. “We have 11,000 units in active development across eight states, so we started our in-house construction division to support our growth and help our longtime construction partners. And this 50-acre, suburban parcel is where our team excels,” he says.
RangeWater’s Storia division is deploying $800 million in capital across the Sun Belt to build homes for rent, with active developments along the Atlanta BeltLine, in San Antonio, and in North Boulder, Colorado. RangeWater has already built and sold The Beacon BTR community in nearby Flowery Branch, Georgia.
