Company builds vibrant, highly amenitized, best-in-class communities
Vida, the Atlanta-based multifamily and build-to-rent (BTR) real estate development firm, has completed its seed funding round on Vida Opportunities Fund I, LLC, a $47 million fund. The fund is now open to qualified investors, registered investment advisors and broker-dealers, and has a subsidiary that accepts Roth IRA conversions. It will fund construction of two multifamily projects and one BTR project, located in Atlanta’s Upper Westside and in fast-growing Buford, Georgia, north of Atlanta.
“Our vision is to build up our communities, fulfilling lives” said Joe Martinez, President of Vida. “Our mission is to be a leading developer in the sunbelt, exceed our investor expectations, create purposeful, joyful places, and serve our community. We consider the resident experience in every decision, resulting in highly valued communities with a sense of place.”
Vida has looked at the supply and demand of apartments over the past several years. “Peak supply of apartments in Atlanta hit in the third quarter of last year, and there is a lack of new deliveries in the next three years to handle the absorption we’ve historically had. We think this presents a tremendous investment opportunity,” said Martinez.
GuildHouse at Upper Westside
At 2085 Marietta Boulevard in the Upper Westside neighborhood of Atlanta, Vida is developing GuildHouse. Located on seven acres, it will include BTR townhomes, traditional multifamily apartments, and neighborhood commercial space built around a pocket park.
Just a stone’s throw from a long-time favorite hangout for Atlantans, Nuevo Laredo Restaurant, GuildHouse will have 39, 3-story, 3-bedroom, 2-car garage BTR townhomes and 354 apartments ranging from 550 to 1350 square feet with a structured parking deck. Shared amenities will include a coffee bar, coworking space, saltwater pool, pet spa, sky lounge, two courtyards, and a pocket park. “We are working with Edie Weintraub from Terra Alma to identify a restaurateur and other retail for the commercial space,” said Joe Martinez.
The 7,200 square feet of commercial space will face the property’s pocket park. GuildHouse is also located near other neighborhood features: The next phase of the Woodall Rail Trail by the PATH Foundation will connect to the north of the site down to The Works, a mixed-use retail, food hall, and entertainment destination, and also to the Atlanta Beltline trail.
Carrena at Mall of Georgia
In Buford, Georgia, at 3172 Financial Center Way, Vida will build Carrena Apartments, with 332 units, ranging from alcove studios to larger 1-, 2- and 3-bedroom residences.
“The rooftop deck with sunset views and elevator buildings with conditioned corridors will be something new to this market,” Martinez said. “We strive to build best-in-class projects, and this property will be unique for the area with a saltwater pool, dog run, pet spa, walking trail and coworking space, not to mention beautiful architecture.”
Vida is led by an experienced commercial real estate team, including Martinez, who for over nearly two decades has developed more than 7,000 housing units totaling over $1.7 billion in total capitalization, along with large-scale retail and office projects. He holds an MDES in Real Estate from Harvard University, an MBA from Georgia State University and a BA in Architecture from UNC Charlotte.
Vida’s other current projects across Georgia include Verona in Fairburn and Solara in Powder Springs.
To learn more about Vida and the Vida Opportunities Fund, visit www.vidacompanies.com.
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About Vida
Vida Companies is a best-in-class multifamily, build-to-rent (BTR), and mixed-use property developer, known for innovation, quality and stewardship of the communities where it works. The company is headquartered in Atlanta and is active throughout the Southeast. Vida’s well-designed, well-crafted and differentiated residences create a sense of place, making for highly valued assets. For more information, visit https://www.vidacompanies.com/.
