With proximity to major employers and retail offerings, the area is attractive to multifamily developers are increasingly looking to the suburbs for new opportunities, said Bo Flurry, senior managing director Newmark’s Birmingham office. Atlanta-based Novare Group is also building a new luxury apartment community across from The Summit as well (zoned in Birmingham city limits). The project is significant as it will be one of the first major new apartment construction projects in the 280-459 area since Vestavia Reserve, according to multifamily experts. Amenities will include a swimming pool with Wi-Fi sundeck and fitness center along with a top floor amenity area with outdoor deck, according to Davis Development’s website.Īrchitecture firm Geheber Lewis Associates is involved in the project, according to information from its website. It’s estimated to be a $50 million to $60 million project.Ī rendering shows a five-story development with one-, two- and three-bedroom apartments. In August 2020, the firm secured a $40 million construction loan from the Birmingham office of Renasant Bank, and Morrow Construction filed three building permits totaling more than $45.9 million in November, according to Jefferson County public records. The Stockbridge, Georgia-based company acquired the 9.75-acre site located at 3560 Grandview Parkway from Crowne Partners in 2019, as we reported. 280.ĭavis Development and its construction arm Morrow Construction is developing Inkwell on Grandview, a new luxury apartment community with about 274 units across from Grandview Medical Center.ĭavis Development did not immediately respond to request for comment. Another Atlanta developer is building new luxury apartments off U.S.
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