Realty News Report

ATLANTA – Hines has begun construction is on @1377, a 215-unit  luxury multifamily complex in Atlanta.  The development represents Hines’ first for-rent residential project in the city and one of several under development in the Southeast region. @1377 is located in the Brookhaven neighborhood on Dresden Drive.  The four-story building will have an attached multi-level parking garage.

Designed by The Preston Partnership of Atlanta, @1377’s architecture evokes a transitional style with buildings clad in brick, with stucco accents, large windows, wrap-around corner balconies and ground-level unit entry stoops at the sidewalk.  The project will offer studios, and one- and two-bedroom units ranging in size from 468 to 1,537 square feet. General Contractor Urban Oaks Builders expects occupancy of the first units in October 2013, with final completion in December 2013.

Alan Patton, senior managing director in charge of the firm’s Multifamily Division, said, “Hines’ multifamily platform is focused on delivering high-quality for-rent residential projects in all of our domestic markets.  We are committed to delivering a superior product with our @1377 project and are excited about its one-of-a-kind location within Atlanta’s well-known Brookhaven submarket.”

In January 2011, Hines formed its Multifamily Division, with a focus to expand the firm’s multifamily development activity throughout the U.S. by working with Hines’ domestic regions on for-rent residential programs.  Currently, the Multifamily Division has more than 5,000 units in projects in various stages of development.  In addition to Atlanta, the company has other multifamily projects that are located in several U.S. cities including: Cambridge, MA; Chicago; Denver; Houston; Miami; Minneapolis; Pasadena, CA; Phoenix; Rockville, MD; and St. Petersburg, FL.