News
1st Southside Transit Oriented Development in Atlanta: Lakewood Site to Become a Mixed-Use Facility
Atlanta, GA. - Marking the first Transit Oriented Development (TOD) on Atlanta’s Southside, site excavation and construction of the two phase project is officially underway at the Lakewood-Fort McPherson MARTA station. This 13.6 acre mixed-use TOD is set to provide workforce housing, market rate housing, and office and retail space adjacent to the Lakewood-Fort McPherson transit facility in southwest Atlanta.
“We are proud to be a part of this pioneering development project,” said Pam Smith, owner and founder of Smith Real Estate Services (SRES), one of the two private firms who will be heading up the two phase development project in conjunction with the Atlanta Development Authority. “This is an important development opportunity that will be an impetus for the growth and revitalization of the area south of the West End MARTA station.”
The project is expected to increase MARTA ridership, and significantly transform the area surrounding the station. Conceptual plans for this development call for a mixed-income urban community, which will offer spacious, residential apartments, condos, live/work units, and office space. Phase I consists of a residential development which will offer 181 units of affordable and market rate units. Phase II will consist of a mix of office and residential uses with a small retail component.
The project developer is the Atlanta Development Authority (ADA), an agency which represents a consolidation of the City’s economic and community development efforts in real estate, finance, marketing and employment, for the purpose of providing a focal point for improving Atlanta’s neighborhoods and the quality of life for all its citizens. In support of its mission, ADA is able to issue bonds for financing residential development projects. As the official development arm for the City of Atlanta, ADA is also able to mobilize and access public resources typically not available to private sector developers.
The ADA has assembled an experienced team to manage the Lakewood-Fort McPherson TOD development process with a strong track record in forging successful partnership with government authorities. The Lakewood development team includes Smith Real Estate Services, Inc., who initially conceived the development concept and vision for Lakewood-Fort McPherson, and Columbia Residential. This team is committed to making the Lakewood-Fort McPherson TOD development a great asset to the MARTA transit system and the residents of the surrounding neighborhoods.
Smith Real Estate Services is a full service real estate consulting firm located in Atlanta, Georgia, that concentrates on development management, project management, construction management, land acquisition services, and commercial brokerage. Capitalizing on 23 years of expertise, Smith Real Estate Services provides clients with comprehensive real estate consulting offerings that include tenant representation, real estate due diligence services, right of way acquisition services and agency construction management.
