May 1, 2018— Multifamily developer and investment firm Pollack Shores Real Estate Group announced today that it has closed on the land purchase for a future luxury apartment community in Holly Springs, Georgia. Design plans for the development were recently finalized, with the project expected to break ground later this month.
Located in a fast-growth corridor of Cherokee County at the intersection of Holly Springs Parkway and Main Street, the 272,000-square-foot apartment community will feature 282 units and offer convenient access to major employers and several dining and retail destinations. The development represents Pollack Shores’ latest suburban investment – a growing piece of the business strategy that has helped the firm generate record revenue over the last 12 months.
“Our leadership team is highly focused on the suburban investment shift occurring within our industry,” said Steven Shores, CEO of Pollack Shores. “By identifying and securing prime growth locations such as the one in Holly Springs, we will be able to maximize high-yield returns for our partners. There’s a clear demand for luxury multifamily housing in these suburban markets, and we will continue to seek out similar opportunities that strengthen our portfolio and build long-term value.”
The yet-to-be-named community will offer one, two and three-bedroom apartments ranging from 700 to 1,450 square feet. Every residence will feature stainless-steel appliances, granite countertops, shaker-style cabinetry, upgraded lighting and vinyl wood plank flooring. In addition to the interior features, the community will also offer a number of upscale amenities, including detached garages, a resort-style pool, state-of-the-art fitness center and luxurious clubhouse. The project is expected to open in early 2020.
The development is also just three miles from downtown Woodstock and one mile from Old Rope Mill Park, which features over 14 miles of mountain biking and paved running trails alongside the Little River.
NXT Capital has signed on as an equity partner for the Holly Springs project. Poole & Poole Architecture is providing architecture and design services, while McShane Construction is serving as general contractor. Matrix Residential, a subsidiary of Pollack Shores, will add the development to its growing and diverse portfolio of award-winning luxury properties the company manages across the Sunbelt.
Known for acquiring, developing, managing and investing in best-in-class multifamily communities, Pollack Shores is currently active in Atlanta, Orlando, Tampa Bay, South Florida, Jacksonville, Charleston, Raleigh, Charlotte, Dallas, Austin, Nashville and Richmond.