From left, Harvard University real estate development professor Richard Peiser, his former student Rod Mullice of College Park-based developer Air Realty LLC and Jerome Russell of H.J. Russell and Co. attend the ribbon-cutting ceremony for the $35 million mixed-used residential, dining and retail community ThePad on Harvard on Dec. 13, 2016.
Major Atlanta employer Hartsfield-Jackson Atlanta International Airport is one train stop south of College Park’s MARTA station.
Other major metro Atlanta employers’ headquarters, including Porsche Cars North America and Chick-Fil-A, are also minutes away, developer Rod Mullice of College Park-based Air Realty LLC said.
While 17 homes in sizes ranging from 1,850 to 2,500 square feet will be available, their impact extends beyond the households that will occupy them.
According to Mullice, it will be the first construction to break ground in the city’s Transit-Oriented Development district, officially approved Sept. 17.
The district established guidelines for mixed-use development near public transportation, a concept Mullice said in a statement is intended to “stimulate revitalization of historic downtown College Park.”
The project is from the same team that opened ThePad on Harvard in November 2016, which Mullice said was the first new multifamily community built in College Park in more than 40 years.
Also containing dining and retail tenants, the development 100 yards away from the upcoming Temple Square is at 96 percent occupancy, he said.
Mullice and Jerome Russell, president of H.J. Russell and Co., along with other limited partner investors, are reprising their teamwork in creating the new $4.8 million project, to which Atlantic Capital Bank recently loaned $3.1 million for construction.
It continues his commitment to “effective transit-oriented development and enduring residential allure” principles, Mullice said.
“I am proud that such a strong development team chose to work on turning the vision of Temple Square into a connected lifestyle community,” he said.
Construction will be complete in the second half of 2019, Mullice said.
Home prices will range from the low to high $300,000s.
Mullice said the prices are comparable to others in the neighborhood of nearby private school Woodward Academy, according to a market study.
Sara Joseph and Pauline Miller from Buckhead real estate brokerage firm Brightstar at Compass will handle sales at 404-668-6621 or http://bit.ly/2KUTWpN.
The new community will feature designs crafted by the same creative team that devised ThePad’s “distinctive modern look,” Mullice said.
Rowan Stewart with Buckhead-based Niles Bolton and Associates is the architect.
Ymani Tannis with WB Interiors in Alpharetta will create the indoor environments.
Novin Construction of Sandy Springs is the building contractor.
Eberly and Associates of DeKalb County will provide civil engineering.
Speakers at the Dec. 14 ceremony are slated to include Fulton County Chairman Robb Pitts, MARTA General Manager Jeffrey Parker, College Park City Councilman Tracey Wyatt, Woodward Academy President Stuart Gulley, Ph.D., and Aerotropolis Atlanta Alliance President and CEO Shannon James.
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