ATLANTA — A joint venture between Portman Residential and National Real Estate Advisors LLC has broken ground on 10th and Spring, a 29-story multifamily project in Atlanta’s Midtown district. Portman Residential secured a $117 million construction loan for the project, according to the Atlanta Business Chronicle.
Located at the corner of Spring Street and 10th Street NW, 10th and Spring will include 370 residential units, as well as 11,000 square feet of retail space. Community amenities will include a pool, fitness center and a clubroom.
The project will serve as the first phase of a 4.1-acre master-planned mixed-use development led by Portman Residential. The larger development plan will also feature a 525,000-square-foot, Class A office building; about 20,000 square feet of event space; and a hotel that will feature at least 225 guest rooms. As part of the project, the historic site of H.M. Patterson & Son’s Spring Hill Chapel will be transformed into a venue with food and beverage options, as well as the new hotel.
Atlanta-based Cooper Carry will be the architectural firm for the project. Fogarty Finger will do the interior design for the development, and JE Dunn will oversee construction services. National Real Estate Advisors LLC is an investment manager based in Washington, D.C. Portman Residential is a real estate development company affiliated with Atlanta-based Portman Holdings.