Trammell Crow Co. subsidiary High Street Residential has topped out The Grace Residences, a new project in Atlanta that is expected to deliver next year. Preleasing will begin in early 2024, with first move-ins slated for March and the building expected fully online in May.
The Grace Residences will offer 280 one-, two- and three-bedroom units, 28 of which will be designated as affordable. The units will average 931 square feet and include walk-in closets, built-in desk areas, in-unit washers and dryers and smart lock entry systems. The Rule Joy Trammell + Rubio-designed community’s amenities will include a bicyle room, club room, outdoor courtyard and pool, as well as a fitness center, package room, coworking space, pet spa and sky lounge. High Street Residential is also planning to include 2,350 square feet of ground-floor retail space for The Grace Residences and has tapped SRS Real Estate Partners to handle leasing of the property’s retail portion.
The Grace Residences will comprise the residential portion of a larger overall project that High Street Residential and its parent, Trammell Crow Co., are working on alongside Georgia Advanced Technology Ventures, an affiliate of the nearby Georgia Institute of Technology. The full project includes The Grace Residences, as well as Science Square Labs, which will offer 364,740 square feet of Class A lab and office space.
Expanding throughout the South
For High Street Residential, The Grace Residences represents the firm’s first residential development in the Atlanta market. However, Trammell Crow has developed several industrial, retail and office projects in Atlanta.
”High Street Residential is excited to have The Grace as the first multifamily development project in Atlanta for the company,” Scott Kirchhoff, senior vice president at High Street Residential Atlanta, told Multi-Housing News. “Our team is actively working on and pursuing additional multifamily development opportunities with plans to scale throughout the Atlanta metro and the southeast.”
Outside Atlanta, High Street Residential has been working on luxury communities in Texas. Earlier this year, the firm formed a joint venture with Daiwa House Industry Co. and broke ground on River Oaks at Westheimer, a 209-unit community in Houston. A few months prior, High Street Residential began construction on a 377-unit community called 700 River in Austin, Texas, along with joint venture partners MSD Partners and River Street Partners.
