BBI Developer Group is planning a sizable mixed-use project in the Atlanta Metro area. The new Town Center, called Town Center at Mansa Park, would be on Old National Highway and Pleasant Hill Road in South Fulton and include a condominium tower, apartments, three hotels, six office buildings, two restaurants and two retail spaces.
In total, the development plan is proposing the construction of 494 condo units and 1,032 workforce apartments, or 1,526 individual residences. Across the various proposed buildings, the overall development would cover more than 1.35 million square feet, or 140 acres.
On its website, BBI says the Old National Highway Corridor is one of the region’s most densely populated areas and serves as the largest commercial corridor within the City’s limits. Only a few miles from Hartsfield-Jackson International Airport, the Corridor is critical to the City’s economic viability. The latest filings are for rezoning permits to move the project forward.
The overall project is expected to be finished by 2030.
Multifamily owners with loans coming due are faced with higher refinancing costs. While this isn’t news, Newmark put numbers to the issue, indicating that loans maturing in Q3 2026 carried an average interest rate of 4.04%, compared to 5.69% on new loans at an average cap rate of 5.5%, resulting in negative leverage. At the...
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An increase in mortgage rates is cooling home sales, with multifamily the biggest beneficiary, according to John Chang, senior vice president at Marcus & Millichap. In a recent video, Chang said that the 10-year Treasury has risen by more than 100 basis points, and the 30-year mortgage rate is up about 130 bps to the...
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The city of Revere is eying a large redevelopment plan that would create 1,700 new affordable and market-rate homes about five miles northeast of downtown Boston. The Revere Housing Authority presented a proposal to the Revere City Council last week requesting a zoning change that would allow for development on a 40-acre site at Cooledge...
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