Kennedy Wilson and Shimizu Corporation have partnered to develop Caldwell, a 382-unit luxury apartment community in Sandy Springs. It is part of Kennedy Wilson’s strategy to expand its multifamily development platform in high-growth markets.
Kennedy Wilson and Shimizu Announce Caldwell Development
Kennedy Wilson and Shimizu Corporation have announced a partnership to develop Caldwell. The project marks Kennedy Wilson’s first ground-up multifamily development in Georgia and the first partnership between the two companies.
The $139 million development will be built at 35 Glenlake Parkway NE on a 6.9-acre site that previously housed a UPS office. Kennedy Wilson acquired the property in late 2025 and began demolition this summer.
The project is part of Kennedy Wilson’s expansion strategy for its multifamily development platform.
John McCullough, President, Multifamily Development Group at Kennedy Wilson said, “Caldwell offers exceptional long-term fundamentals, driven by strong employment growth and an affluent resident base with limited new multifamily supply. By transforming an underused office site into a thoughtfully designed residential community, we are maximizing the utility of the land and creating much-needed housing in one of Atlanta’s most desirable metros.”
Kennedy Wilson is a real estate investment company. It has $38 billion in assets under management across the U.S., U.K., and Ireland. The company invests in, operates, and develops real estate in high-growth markets.
Shimizu Corporation is a Japanese construction company. It works across construction, civil engineering, and real estate development in markets around the world.
“We’re incredibly proud to begin our first partnership with Shimizu. What makes this venture especially meaningful is the friendship and trust we’ve built along the way, and we’re honored to be their partner and steward of this investment,” said Robert Miyajima, Senior Vice President at Kennedy Wilson.
Project Details
Caldwell will be a five-story residential community with 382 apartments averaging 937 square feet. The development will also offer more than 17,500 square feet of indoor and outdoor amenities. Its location will provide access to major employment centers, shopping areas, and transportation routes across Metro Atlanta.
Construction of the project will be handled by New South Construction. Dynamik Design will serve as architect, and PEC+ will serve as civil engineer. The first residents are expected to move in during 2028.
