ECI Group and joint venture partner Phoenix Capital have begun the construction of the $101 million luxury apartment and townhome development, Averly East Village, in Roswell, Ga.
The apartment development is designed by Rule Joy Trammell Rubio Architects with Truist providing construction financing. Averly East Village is expected to be completed in late 2024.
“The development of Averly East Village comes at a particularly opportune time, with North Atlanta experiencing explosive growth in jobs and residents. We are excited to play our part in helping to address the shortage of new housing by building luxury residential units on what was a mostly vacant strip center in the middle of the affluent Roswell area,” said Jimmy Baugnon, CIO at ECI Group.
“Phoenix Capital is delighted to continue its long history of successful multifamily investments in the Atlanta MSA,” said Andrew Scott, Phoenix Capital Partner and senior managing director. “Opportunit
