Construction begins on Roswell luxury apartments despite limitations
The development plan was approved by the city’s previous administration and was inherited by the administration of current Roswell Mayor Kurt Wilson.
ROSWELL, Georgia – A Georgia real estate development company has begun construction on several apartments despite restrictions imposed by the City of Roswell on the construction of such self-contained units.
According to the Atlanta Business Chronicle, ECI Group has begun demolition of the derelict SuperTarget off Holcomb Road. This will become the new site of what will be known as Averly East Village in East Roswell. A press release from the development company says the building will contain 355 apartments and 74 townhouses with an estimated completion date of 2024.
“The development of Averly East Village comes at a particularly opportune time, with North Atlanta experiencing explosive growth in jobs and residents. We are excited to play our part in helping to address the shortage of new housing by building luxury residential units on what was a mostly vacant strip center in the middle of the affluent Roswell area,” Jimmy Baugnon, chief investment officer at ECI Group, said in a press release.
The build, however, doesn’t come without consideration. Earlier this year, the City of Roswell imposed restrictions on self-contained apartment development to reduce population density and provide more mixed-use housing and commercial space.
RELATED: City of Roswell votes to ban new self-contained apartment complexes
“We have some pretty specific goals and dreams for Roswell, and it’s not to increase the population by leaps and bounds, which self-contained apartments tend to do. It adds high density very quickly and we’re not looking to grow our city to that level of population. »
Lee Hills is a Roswell City Council member and said the current Roswell administration has not approved the construction of Averly East Village. The development plan was approved by the previous Roswell City Council and was inherited by the administration of current Roswell Mayor Kurt Wilson.
According to Hills, more than 33% of Roswell residents live in apartments, which she says is an “overwhelming” number. However, when the city voted on restricting self-contained apartments, several developers, realtors, and Roswell residents spoke out against passing the amendment.
Their concerns aligned with the idea that these restrictions would allow current residents to be overpriced by contributing to rising rental costs in the city. Many have argued that with more mixed-use developments and commercial space, population growth is inevitable and with not enough housing being built – amid apartment limits and Atlanta’s housing shortage – the city will see a limited number of housing units for residents.
CEO of Redmond Realty Group with Village Premier Collection, Johunna Redmond knows this question well.
“Roswell was one of the fastest growing cities in the 2020 census, so if you’re looking to stop growing, then you’re not building those properties – you’re building something that’s going to attract more business,” did he declare. . “On the other side of the coin, once you introduce all these businesses, where do your business owners live?”
Hills said the solution to this problem lies in diversifying development opportunities. She outlined eight other options that developers could potentially pursue in lieu of stand-alone apartments, which include Mixed-Use Neighborhood, Mixed-Use Commercial, Commercial Corridor, Promenade Village, Heavy Commercial, Center- residential city, mixed-use downtown and residential office.
“Many of our sister cities have a lot more single-family residents, so we’d like to be very responsible and deliberate when developing with apartments. Again, not against apartments, but we want to be sure we’re thinking about the whole the picture,” Hills said.
Hills said that ultimately the goal is to slowly evolve Roswell’s landscape over time without sacrificing its identity.
“We just want to keep the uniqueness and the charm where it is, and then where we have vacancies, improve it well so that our residents are happy and can continue to have a good quality of life,” a- she added.