The Allen Morris Company Closes on $90 Million Construction Loan for Star Metals Residences in West Midtown
Construction on the residential component of the mixed-use community has begun
The Allen Morris Company proudly announced today that they have closed on a $90 million construction loan for Star Metals Residences, the residential component of the comprehensive and highly-anticipated mixed-use community, Star Metals Atlanta, in West Midtown Atlanta. Construction has begun on the residential phase of the project and site work is expected to commence on the office phase during the first week of August.
Square Mile Capital Management LLC and Pacific Western Bank provided $90 million in financing on the 409-unit luxury rental apartment building that will also include 16,300 square feet of retail.
Juneau Construction is the contractor for Star Metals Residences and Brasfield & Gorrie is the contractor for Star Metals Offices.
“We are proud to have secured the construction financing with Square Mile Capital and Pacific Western Bank as it is a significant milestone in delivering a project that truly celebrates the history of West Midtown while offering exceptional living spaces,” said W. Allen Morris, Chairman and CEO of The Allen Morris Company. “Today’s closing speaks to the strength and value of the development as we continue our forward momentum in building an impactful project that enhances West Midtown’s unique character.”
Located at 1050 Howell Mill Road and designed by Oppenheim Architecture and Dwell Design Studio, with interior design by Square Feet Studio, Star Metals Residences offers its residents modern living spaces and impressive double height, curtainwall glass lobby activated with high-end F&B concept. Residents will also enjoy an unparalleled array of ground floor amenities including a private outdoor dog run, interior dog wash area, Uber drop-off room for residents, package delivery to the resident’s door, and resident library with fireplace. Additional amenities on the Level 9 Rooftop include lounge/meeting rooms, indoor/outdoor activated rooftop bar & lounge, game room area with pool table, gaming systems and arcade games, outdoor ping-pong and bocce ball, a glass-box fitness center opening onto the pool terrace, outdoor grilling area, outdoor movie projection area, outdoor fire pits and seating groups.
The visionary Star Metals Residences is part of the transformative 4.75-acre Star Metals Atlanta development that also includes Star Metals Offices, the 14-story, Class-A office tower totaling 260,000 square feet that includes 35,000 square feet of retail and restaurants.
The significant project milestone comes on the heels of the signing of new tenant, Spaces, a pioneer in creative and flexible workspaces. Signing 56,121 square feet of space at Star Metals Offices, Spaces will occupy the building’s 7th and 8th floors and includes a 5,642 square foot ground floor reception area and private Business Club fronting Howell Mill Road, along with more than 8,000 square feet of amenity-rich, outdoor landscaped private terrace collaboration and meeting areas for Spaces clients.
With a 60 year history in the real estate industry, including 19 projects in the Atlanta area, The Allen Morris Company is excited to deliver Star Metals Residences which will become the Company’s 83rd overall development. Star Metals Residences is slated for delivery in Spring 2020.
