{"id":1004051432,"date":"2012-04-29T19:38:45","date_gmt":"2012-04-30T03:38:45","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=45708"},"modified":"2020-04-08T08:02:23","modified_gmt":"2020-04-08T16:02:23","slug":"nap-wins-approval-for-600m-avalon-development","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/nap-wins-approval-for-600m-avalon-development\/","title":{"rendered":"NAP Wins Approval for $600M Avalon Development"},"content":{"rendered":"<p style=\"text-align: justify\">By Georgiana Mihaila, Associate Editor<\/p>\n<p style=\"text-align: justify\">The Southeast is one step closer to its first &#8220;experience center&#8221;\u2014a place where high-end retail, restaurant, residential, office, hotel, and public spaces come together in order to create a unique destination. North American Properties has received key approvals to move forward with its $600 million Avalon development.<\/p>\n<p style=\"text-align: justify\">The resort-inspired mixed-use project will be developed in Alpharetta, Ga. and will encompass a total of 87 acres. The retail component will include roughly 559,000 square feet of shops, restaurants, a specialty grocery store and a 14-screen movie theater, all developed, leased, owned and managed by NAP. In addition to a line-up of experiential retailers, which currently includes Whole Foods Market and Regal Cinemas, NAP plans to deliver event programming that activates Avalon\u2019s public spaces throughout all four seasons such as<a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/04\/Avalon-Development.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-45711\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/04\/Avalon-Development.jpg\" alt=\"\" width=\"300\" height=\"184\" \/><\/a> outdoor concert series, yoga in the park, pet parades and family camp-outs. NAP will also offer five-star hospitality to visitors and residents through its on-site, hotel-style concierge and valet parking services. A 300-room, full service hotel and a 175-room boutique hotel are also being planned.<\/p>\n<p style=\"text-align: justify\">The office component\u2014consisting of a 350,000-square-foot, 14-story office building; two 200,000-square-foot buildings; 85,000 square feet of office lofts above retail; and a 5,000-square-foot financial institution\u2014will be developed, leased, owned and managed by Greenstone Properties.<\/p>\n<p style=\"text-align: justify\">The residential part of the development has two components, the first is being developed by NAP and consists of 250 luxury residential units above retail, with a rent average of $1,400. Monte Hewett Homes will be in charge of the second residential component\u2014132 townhomes and detached single-family homes with dedicated resident amenities\u2014that will be available for sale.<\/p>\n<p style=\"text-align: justify\">Ten percent of Avalon\u2019s acreage will be dedicated to public space, with signature areas including a plaza, a boulevard and The Commons\u2014a neighborhood park that will feature an all\u00e9e of trees, park benches and lush plantings.<\/p>\n<p style=\"text-align: justify\">According to an official company statement, the Avalon completion date is set for October 2013.<\/p>\n<p style=\"text-align: justify\"><a href=\"https:\/\/www.multihousingnews.com\/news\/market-snapshot-strong-job-growth-and-single-family-woes-to-boost-atlanta-apartment-sector\/1004051620.html\" target=\"_blank\" rel=\"nofollow\">Click here<\/a><a href=\"https:\/\/www.multihousingnews.com\/news\/according-to-market-report-long-island-city-n-y-is-thriving\/1004047937.html\" target=\"_blank\" rel=\"nofollow\">\u00a0<\/a>for more market data on Atlanta.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Georgiana Mihaila, Associate Editor<br \/>\nThe Southeast is one step closer to its first &#8220;experience center&#8221;\u2014a place where high-end retail, restaurant, residential, office, hotel, and public spaces come together in order to create a unique destination. North American Properties has received key approvals to move forward with its $600 million Avalon development.<br \/>\nThe resort-inspired mixed-use project will [&#8230;]<\/p>\n","protected":false},"author":1269,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1489,21742],"tags":[39387],"class_list":["post-1004051432","post","type-post","status-publish","format-standard","hentry","category-atlanta","category-latest","tag-atlanta"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>NAP Wins Approval for $600M Avalon Development - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/nap-wins-approval-for-600m-avalon-development\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NAP Wins Approval for $600M Avalon Development\" \/>\n<meta property=\"og:description\" content=\"By Georgiana Mihaila, Associate Editor The Southeast is one step closer to its first &#8220;experience center&#8221;\u2014a place where high-end retail, restaurant, residential, office, hotel, and public spaces come together in order to create a unique destination. 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