Mixed-use community adjacent to Mall of Georgia to break ground in July 2019
ATLANTA (July 16, 2019) – Multifamily developer and investment firm Pollack Shores Real Estate Group announced today that it is proceeding with plans for Ariston, a 16-acre, mixed-use destination featuring Class A apartments, dining, shopping, hotel and unique, walkable community gathering space along the Ivy Creek Greenway near the Mall of Georgia in Buford.
Ariston Group LLC, the project owner and sponsor – led by principal investors Jon Guven, manager, and Julio Jones, Atlanta Falcons star wide receiver– is being advised by Atlanta-based real estate development consulting and advisory firm, Ra Co Real Estate Advisors, LLC.
“We’re excited to partner with Pollack Shores, Peachtree Hotel Group and Stream Realty in an effort to start to bring our vision to life,” Guven said. “Ariston reflects our commitment to creating a pedestrian-friendly community that will encompass luxury apartment living, brand-name hospitality, dining and entertainment immediately adjacent to the dominant retail node in Gwinnett County.”
Groundbreaking for the multi-million-dollar project is slated for July 2019. The property is strategically located at the intersection of Mall of Georgia Boulevard and Woodward Crossing. Plans call for 285 Class A luxury apartments, dining and retail space, as well as a 110 room Hilton Garden Inn.
“Ariston will breathe new life into Gwinnett County, providing something for locals and visitors, alike,” said Mitul Patel, managing partner and COO, Peachtree Hotel Group. “In addition to elite dining and residential options, the mixed-use development is ideally suited for an upscale hotel such as the soon-to-break-ground Hilton Garden Inn.”
The project will offer a variety of street-level experiences that resonate with the market.Residents, guests and visitors will be encouraged to interact in a sophisticated setting. In addition, the project will provide a pedestrian connection to the existing Ivy Creek Greenway, a 3.6-mile-long walking and biking trail that runs through a wooded nature preserve along the scenic waters of Ivy Creek.
The residential component of Ariston will consist of 171 one-bedroom apartments, 104 two-bedroom apartments and 10 three-bedroom apartments. The first apartments are scheduled to deliver in May 2020. Each unit will feature granite countertops, stainless steel appliances, a mixture of luxury vinyl-plank flooring and carpet flooring and spacious walk-in closets. Residential amenities will include a resort-style pool with outdoor lounge area, a state-of-the-art fitness center and a dog park.
Ariston selected Pollack Shores as the multi-family developer, as well as the master site developer in 2018 after reviewing the firm’s track record in major mixed-use projects such as The Battery Atlanta, where it successfully developed three award-winning apartment communities in conjunction with the Atlanta Braves. Matrix Residential managed the lease-up and will be involved intimately in Ariston’s multi-family strategy.
“Our team has experience in delivering walkable, unique mixed-use communities,” said Steven Shores, president and CEO of Pollack Shores. “The collaborative partnership with Ariston Group, Ra Co Real Estate Advisors, Peachtree Hotel Group and Stream Realty has been incredibly rewarding, and we look forward to opening this Gwinnett County destination soon.”
A recent report from the Atlanta Regional Commission found that Gwinnett County’s population is growing at a faster rate than metro Atlanta as a whole. More than 600 international businesses are located in the county.
“We look forward to Ariston becoming a community destination that attracts new jobs and investment dollars to Gwinnett County,” said Nick Masino, President and CEO of Gwinnett Chamber of Commerce. “Pollack Shores has a reputation for delivering best-in-class development to strong suburban locations like Gwinnett, and we are eager to see this development come to life.”
About Pollack Shores Real Estate Group, LLC
Pollack Shores is an award-winning full-service real estate company creating value through multifamily investment opportunities throughout the Sun Belt. Founded in 2006, the Atlanta-based company currently owns $1.6 billion in total assets. Pollack Shores also owns and operates Matrix Residential, an innovative property management firm dedicated to creating exceptional experiences for every resident, property and client. Matrix Residential manages a balanced portfolio of nearly 31,000 multifamily units across eight states.
Together, Pollack Shores and Matrix Residential are rooted in their mission of maximizing the value and living experience for every community. For more information about Pollack Shores, visit pollackshores.com/. For more information about Matrix Residential, visit matrixresidential.com/.
About Peachtree Hotel Group
Peachtree Hotel Group operates, develops and invests in premium-branded, select- and limited-service and extended-stay hotel assets under the Marriott, Hilton, Hyatt, Choice and InterContinental Hotels Group flags. Since its inception, Peachtree has invested in more than $2.4 billion of hotel properties and first mortgage notes. Peachtree’s current portfolio is comprised of 104 hotel assets totaling 12,767 rooms, including 46 real estate assets and 58 notes. For more information, please visit www.peachtreehotelgroup.com.
About Stream Realty
Stream Realty Partners provides a multi-platform array of services to include Landlord and Tenant representation, marketing, property management, construction and development services, investment sales.
About Ra Co Real Estate Advisors
Atlanta, Georgia based Ra Co Real Estate Advisors, founded in 2009, provides multi-platform real estate advisory, consulting and development services to institutional and private owners. For more information about Ra Co, please visit www.racoadvisors.com