September 9, 2020

Armada Hoffler, Terwilliger Pappas plan $52M Gainesville apartment project

A new upscale apartment development is planned about an hour northeast of Atlanta in Gainesville, Ga.

Virginia-based Armada Hoffler Properties Inc.(NYSE: AHH) today announced it has entered into a joint venture with Terwilliger Pappas to develop Solis Gainesville, a new 223-unit multifamily development in the city’s downtown.

The developers say the $52 million project will feature boutique hotel-inspired amenities, public park and civic space connecting to an existing pedestrian bridge that provides direct walkable access to upscale retail, dining, green way,performing arts, and cultural offerings as well as Gainesville City Hall and the historic Gainesville Square.“Solis Gainesville is the most recent addition to our growing pipeline of apartment projects and our second venture with Terwilliger Pappas,” said Louis Haddad,president and CEO of Armada Hoffler Properties, in a statement. “Solis Gainesville,along with our previously announced acquisitions, continues our rapid progress toward achieving portfolio equilibrium across the office, retail, and multifamily segments. We look forward to breaking ground on the project later this month with anticipated completion in 2022.”

Dynamik Design is the architect for the project.

Armada Hoffler’s other metro Atlanta projects include Southern Post in Roswell. In November 2019, Armada Hoffler and S.J. Collins Enterprises closed on the land purchase for the former Roswell Plaza site. Southern Post is a 4.28 acre mixed-use development that will offer 40,000 square feet of retail space, 90,000 square feet of loft style, open-concept office space, 128 luxury apartments and an exclusive offering of 10 high-end town homes with garages. Armada Hoffler is the majority partner in the project.

Armada Hoffler is also financially backing the office and retail components of The Interlock, a mixed-use development in West Midtown.

by David Allison
Editor
Atlanta Business Chronicle

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UPDATE AS OF June 1, 2020: At Armada Hoffler, our goal remains the safety and well-being of our employees, their families and all of our stakeholder groups.  In response to the ongoing COVID-19 pandemic, our offices have pivoted to a phased-in approach consisting of remote work and in office work. We are working every day to remain consistent with guidelines and protocol issued by the state authorities. Implementation of contingency plans for unseen circumstances such as this, allow our employees to conduct business as usual, regardless of office location. We are committed to providing the same support to our partners and tenants as well as continued communication for our investors. We have always been dedicated to the communities around us and devoted to do our part to keep them safe. We will continue to monitor the situation as it progresses and provide updates as needed.