Once the site of a car-battery factory, this Capitol View site will soon be home to 325 multifamily apartments, including 65 affordable units, according to RangeWater Real Estate. The Atlanta based Real Estate firm, along with their equity partner ParkProperty Capital, announced today (August 13th) that they have broken ground on The Vivian. The project is located on an 8.5 acre site just south of the Atlanta BeltLine Southside Trail, between Metropolitan Parkway and Allene Avenue.
The project will feature 3-to-5 story buildings with studio, one- and two-bedroom apartments starting at $1,200 for a market rate unit. The complex will also feature a pool, fitness center, club house and dog park, according to RangeWater. With two connections to the Southside BeltLine Trail, the project will be in walking distance to the Pittsburgh Yards project, Adair Park I, Atlanta Metropolitan State College, and numerous other destinations in the booming neighborhood.
RangeWater described the project as one that “naturally connects our residents with their respective neighborhoods” according to Steven Shores, President & CEO of RangeWater. Executive Managing Director of development at RangeWater Brian Oates went on to point out that “this is the neighborhood’s first new, market-rate development in recent history… we’re interested in finding more projects along the BeltLine to continue to be part of this
incredible revitalization movement in Atlanta.”
Indeed, this project is the third multifamily development along the BeltLine led by RangeWater, the first two being the Maverick, an apartment and townhome project at 72 Milton, and Skylark, at 1099 Boulevard S.E., in Chosewood Park, both along the Southside trail.
According to property records, the site was purchased by Allene Avenue LLC for $175,000 in 2006, nearly two decades after Exide Technologies closed the battery factory in 1988. According to the Atlanta Business Chronicle, the has been in environmental remediation for much of the time since then. The most recent purchase and development costs for RangeWater have not been made available at press time.
Please correct the spelling of the street at the beginning of the article to Allene Ave. from Alenn Ave.
Purchased 15 years ago for $175,000 & now it is a multi million dollar project. Sound and future looking investment right there.
Allene Avenue is correct. However, it is misspelled as ‘Aleen’ at the end of the first paragraph.
Thanks for the heads up.
Along with the Beltline frontage, this one is only a couple blocks from the southern terminus of the Summerhill BRT, so fast car-free commutes if you work downtown.
Disgusting gentrification!!!