Redevelopment Project Coming to Acworth
Multifamily developer and investment firm Pollack Shores Real Estate Group closed on the land purchase March 1, and began demolition March 6, for its newest development on Cherokee Street in Acworth.
The redevelopment project taking place on the old Kmart/Ingles property, called The Logan, is half a mile from Acworth’s Logan Farm Park. It is a two-phase mixed-use project that will include residential, retail, restaurant space and more.
Phase I of The Logan will be luxury apartments built by Pollack Shores, while Phase II will include opportunities for shopping, dining, etc. The 315-unit community will offer convenient access to I-75, and is expected to open in March, 2020.
Phase I of the development will consist of 12 buildings anchored by a 2.5-acre park. The community uniquely was designed at a 14-unit-per-acre density, substantially lower than the average 25-unit-per-acre density commonly seen in suburban developments. Each apartment home also will have granite countertops, stainless steel appliances, and a mixture of luxury vinyl-plank, wood and carpet flooring.
The project is expected to benefit from the area’s rapid job growth, and a lack of competitive multifamily product in the immediate vicinity.
“We see this area as underserved, because Acworth has not seen a new apartment development in 12 years,” said Steven Shores, CEO of Pollack Shores. “Strong market dynamics and pent-up demand motivated our team to pursue this opportunity. It’s a continuation of our strategy to bring best-in-class new development to strong suburban locations with demonstrated job and population growth.”
A report issued by the Atlanta Regional Commission earlier this year found that Cobb County has grown by more than 70,000 residents since 2010, with jobs, schools, arts, parks and more recreational activities serving as a magnet for those migrating to the suburbs.
“We look forward to partnering with the city of Acworth, which has created a vision for smart growth that will attract new residents and create opportunities for future retail, top-rated dining and entertainment nearby,” said Brian Oates, managing director of Pollack Shores. “Abundant greenspace and other public gathering areas will allow our future residents to enjoy a wide variety of outdoor activities and ensure that the community makes a positive impact on the growing city.”
Amenities will include a fitness center, a swimming pool with pool deck, and a clubhouse. In addition, the community will capitalize on Acworth’s desirable location near Lake Acworth and Lake Allatoona, which offers outdoor activities that serve millions of visitors throughout the year.
For project updates visit, www.the-logan.com.