The Averly Collins Hill will Kick Off Lawrenceville Gateway Project
ATLANTA, Jan. 30, 2024 /PRNewswire/ -- ECI Group (ECI), with joint venture partner, The Griffin Fund, has started construction on The Averly Collins Hill, a $76 million, eight-building, 300-unit, Class A apartment development on 22 acres at 700 Collins Road in Lawrenceville, GA. ECI Construction is the general contractor and construction financing was provided by Synovus.
The three-story, garden-style residences will complement a planned 55+ active adult housing and a commercial component to be developed by others in the Lawrenceville Gateway development. The Averly Collins Hill will deliver concurrently with the nearby 15-story Northside Hospital Gwinnett tower that is bringing 3,000-5,000 jobs to its location.
"ECI is excited to partner once again with The Griffin Fund to build premier housing near downtown Lawrenceville," said ECI Vice President of Development, Stephen Stover. "We very much appreciate the collaboration and support we received from the City of Lawrenceville, particularly Mayor David Still, City Manager Chuck Warbington, and Planning and Development Director, Todd Hargrave. With their perspective and vision, The Averly Collins Hill will provide residents coming to the City for its jobs, amenities, schools, and resources with convenient and quality housing in a mixed-use neighborhood."
The $46 million construction loan provided by Synovus comes amidst a challenging financing environment. Seth Greenberg, ECI Group CEO, added, "We are particularly appreciative of the confidence that Synovus demonstrated in this well-located and thoughtfully conceived development, providing ECI with the construction financing needed to start this project immediately and in the best window for delivery."
The Averly Collins Hill will feature:
One, two, and three-bedroom floor plans feature open-concept design, with full-size washers and dryers as well as:
The Averly Collins Hill is located adjacent to University Parkway (SR-316) and Collins Hill Road and within walking distance of an existing Walmart Supercenter-anchored shopping center. Major local employers include Northside Hospital Gwinnett, Georgia Gwinnett College, and the 2,000-acre Rowan technology and research project.
About ECI Group
For more than 50 years, ECI Group has been one of the most highly regarded, privately owned real estate organizations in the United States. The firm is fully integrated, with development, construction, brokerage, and management groups that have garnered national recognition for innovation and performance in the multifamily industry. With a portfolio of more than 7,500 units located throughout the Southeast, ECI is strategically positioned to continue to be a leader in the multifamily industry. For more information, visit www.ecigroups.com.
About The Griffin Fund
The Griffin Fund is a leading Real Estate investment fund focused on acquisitions, development, management and financing for Real Estate projects predominantly in the Multifamily sector. Working with Real Estate owners, developers and top global institutional partners, The Griffin Fund has achieved success and unparalleled returns for its investors over the past decade and recently completed fundraising for its fourth Real Estate investment fund.
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SOURCE ECI Group
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