Multifamily Community on Future Proctor Creek Trail First for Stratus Construction, a Joint Venture Between Ra-Lin and Novare Group
Co-sponsors Novare Group and Batson-Cook Development Co. (BCDC), in a joint venture with ELV Associates, have broken ground on Populus Westside, a 286-unit multifamily community on the Upper Westside of Atlanta. Pinnacle Bank is the senior lender.
On more than 25 acres at 1315 Northwest Drive, Populus will have eight buildings, a clubhouse and fitness center and a resort-style pool around an open green space with outdoor grills and a pet park. The community will include studio, one, two and three-bedroom residences.
Through an affordability initiative by Invest Atlanta as part of a property tax incentive program, 15% of the residences at Populus will be available at reduced rents to those earning from 60% to 80% of the Atlanta median income.
The Proctor Creek Trail runs along the western side of the property. It will be the ultimate amenity, providing bike and foot access to the city of Atlanta’s newest park, the 280-acre Westside Park, and the Atlanta Beltline.
“BCDC is excited to start another project with our partner Novare Group, this being the 30th project in which we have partnered. We look forward to this Westside project that is close to home for us,” said Litt Glover, President of BCDC.
“Novare Group is excited to again join our long-time JV partner Batson-Cook Development Company on Populus Westside,” said Jim Borders, President and CEO, Novare Group. “We have been patient as the demand on the Westside has caught up to a site we have owned for many years.”
Populus Westside is the first project for Stratus Construction, an Atlanta-based multifamily general contractor launched by Novare Group and Ra-Lin & Associates, Inc., a Carrollton and Atlanta, Georgia based general contractor.
Leveraging Ra-Lin’s five decades in construction and Novare Group’s three decades in multifamily real estate, Stratus offers the multifamily development community a contracting experience that is crafted from the point of view of both the developer and the contractor, from pre-construction services to job close out.
“We are excited to announce Stratus Construction, which will focus on delivering value, efficiency and quality in the construction management process,” said Jim Borders. “Ben Garrett, CEO of Ra-Lin, has been my partner for many years in a number of ventures, and I had been talking with him about forming a JV construction company with Novare Group. He finally agreed, and we have assembled a great team of both new associates and existing Ra-Lin executives to form our new company.”
Populus Westside’s design by Dynamik Design is “mountain-modern,” which complements the surrounding wooded and rolling topography. Planners and Engineers Collaborative is the civil engineer.
The community will serve a resident base of singles, young couples, empty nesters and seniors in Atlanta who want to live in a great community near Westside Park and have 5-minute access to I-285 and major job hubs, including West Midtown, Midtown, Cumberland and Downtown.
Novare Group and BCDC expect delivery of first units in the fourth quarter of 2022.
About Novare Group
Novare Group is a real estate development and investment company headquartered in Atlanta, Ga. Since 1992, Novare Group has developed over 17,000 residential units in 54 communities across a variety of product types across the southern and western United States. Learn more by visiting www.novaregroup.com.
About BCDC
Founded in 1963, Batson-Cook Development Company, BCDC, is a fully integrated real estate organization providing development and capital solutions, primarily through partnerships on commercial real estate projects in the Southeastern United States. Based in Atlanta, Georgia, Batson-Cook Development Company offers a wide variety of real estate services, from development and construction to equity and credit enhancements to brokerage and property management. It is a wholly-owned subsidiary of Kajima USA. Learn more by visiting www.batsoncookdev.com.
