Novare Group, BCDC and PointOne Holdings Launch Downtown Development in Downtown Powder Springs

The first phase of a vibrant 6.6-acre development in the heart of downtown has begun on a multi-family residential project in downtown Powder Springs, Georgia.

The multi-family community will be within walking distance of the new Thurman Springs Park, restaurants and shops along Marietta Street and the Silver Comet Trail. Additionally, the Powder Springs Downtown Development Authority will own and develop a contiguous commercial development area to complement the residential component of the mixed-use project.

“We are excited to be underway on our latest project with PointOne Holdings and our long-time partners Batson-Cook Development Co.,” said Novare Group President and CEO Jim Borders. “We sincerely enjoyed working with Powder Springs to bring their vision to life and a project that residents will love and that will further enhance the downtown core.”

“Powder Springs couldn’t be more excited and proud to partner with the Downtown Development Authority and the Novara Group-led partnership to create a project that will revitalize and continue to animate the downtown core,” said Mayor Al Thurman. “Novare Group has transformed communities across the country, and their project will bring renewed attention to downtown as the physical and symbolic heart of the community.

“Downtown is a major asset of Powder Springs, and we are thrilled to be part of this team bringing this project to the city,” said Litt Glover, President and CEO of BCDC. “The Novare Group and PointOne Holdings are among the best partners in the industry.”

“We look forward to creating a new residential live-work community strategically placed in this high-quality, walkable suburb of Atlanta,” added David Lewin, Managing Partner of PointOne Holdings. “We are delighted to once again partner with the exceptional professionals of the Novare Group and BCDC.”

The 226-unit multi-family project will span eight buildings – a mix of two-story carriage-style houses and three- and four-story apartments. It will include 16 studios, 119 one-bedroom units, six one-bedroom carriage houses and 85 two-bedroom units. Sizes will range from 438 to 1,269 square feet.

The state-of-the-art apartment community will offer gated buildings, a co-working lounge, private garages and a resort-style swimming pool with a sun shelf and tanning ledge. Outdoor grilling stations, a fitness center with a yoga room, and outdoor entertainment areas are also among the high-end amenities.

The downtown development is adjacent to the future direct connection of the Powder Springs City Trail to the 61.5-mile Silver Comet Trail, one of Georgia’s most sought-after outdoor assets.

Novare Group is leading the project, with co-sponsors BCDC and PointeOne Holdings, which recently completed its $155 million residential development capital raise. Synovus Bank is the lead lender, Humphreys & Partners Architects is the architect and Stratus Construction is the general contractor.

Delivery is scheduled for the fourth quarter of 2023.

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