JV to Develop $52M Floor-Up Multifamily in GA

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Multifamily Development Rendering

GAINESVILLE, GA – Armada Hoffler Properties Inc. and Terwilliger Pappas have formed a joint venture partnership to develop a basic 223-unit multi-family development in Gainesville, GA.

The new $ 52 million Solis Gainesville project will feature hotel-inspired amenities, a public park, and civic spaces connected to an existing pedestrian bridge for direct access to retail, dining and cultural options.

The building is located in downtown Gainsville, near Gainesville City Hall and historic Gainesville Square, an hour northeast of Atlanta.

The joint venture partners have selected Dynamic Design as the architects for the project.

"I am pleased to announce our partnership in another high-quality multi-family development," said Louis Haddad, President and CEO of Armada Hoffler Properties. “Solis Gainesville is the latest addition to our growing pipeline of housing projects and our second company with Terwilliger Pappas. Solis Gainesville, along with our previously announced acquisitions, continues our rapid strides in achieving portfolio balance in the office, retail and multi-family segments. We look forward to moving the project forward later this month, with expected completion in 2022. "

As a business center in Northeast GA, Gainesville currently has more than 42,000 residents. with an estimated daily population of more than 100,000. Surrounded by Lake Lanier and at the foot of the Buke Ridge Mountains, the city is the 19th largest city in GA.

Solis Gainesville rendering. Photo by Armada Hoffler Properties Inc.

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