High Street Residential (HSR), the residential subsidiary of Trammell Crow Company, has broken ground on the Residences at Perimeter Summit. The seven-story, 350-unit mid-rise multifamily community is located in Brookhaven, Georgia. HSR paid $11.5 million for the property at 1251 Perimeter Summit Pkwy. The project is part of Perimeter Summit, a mixed-use community consisting of 1.7 million square feet of office and retail space across four buildings, a 182-room hotel, and a condo building.

The Residences at Perimeter Summit will include units from 900 square feet to mid-1,400 square feet. Unit amenities will include private balconies in select units. The project will also boast amenities such as an elevated pool, three spacious courtyards, a 1,200-square-foot speakeasy lounge, a fitness center, a clubroom, a coworking center, private conference and study rooms, a tasting room, a pet spa, and a golf simulator.
 
Cooper Carry is leading the design of the project, and New South Construction is providing construction services for the development

Pacific Urban Investors has bought the 412-unit Mount Vernon Flats at the Perimeter in Atlanta for $102.5 million. The complex will be rebranded The Kinsley at Perimeter Center. Pacific’s entry into the Atlanta market is a continuation of broader portfolio expansion efforts throughout the East Coast which includes communities in the New York Metro, Boston, and Mid-Atlantic markets.

The property is in Perimeter Center, one mile from the 1.5 million-square-foot Perimeter Mall. Built in 1997, Mount Vernon Flats is a three-story garden-style community on 24 acres with a density of 17 units per acre. Its floor plans average 1,101 sq ft.

Pacific Urban’s Patrick Freydberg added, “Pacific would like to thank our counterparty, New York Life Investments, for achieving a very smooth transaction, leveraging our preexisting relationship with Walker Dunlop, the broker”.

Pacific Urban Investors has over $8.5 Billion in assets under management and owns and manages a national portfolio of more than 21,900 units.

The Dunwoody City Council will vote later this week to consider KDC‘s request to modify its original plan to build a 700,000-square-foot single-tower office building, first proposed in 2015, in what is called The Perimeter. The building would be replaced with a twin-tower structure containing 300,000 square feet of office space, 22,000 square feet of restaurant/retail space, a 175-room hotel, and 300 apartments. Developers are asking for a modification to the current zoning to allow for the construction of the apartments, which were not in the 2015 plan.

The project, located on 13 acres at Perimeter Center Parkway, already has three of the proposed four buildings constructed, mostly leased to State Farm. These consist of about 1 million square feet of office space, 54,000 square feet of retail/restaurant space, and 4,000 parking spaces.