By Curt Yeomans, Gwinnett Daily Post
An apartment complex near Gwinnett Place Mall got new owners this week and is expected to receive a $5 million facelift in the new year.
Atlanta-based Pollack Shores Real Estate Group purchased Menlo Creek on Satellite Boulevard with plans to rename it Howell House in honor of a founding father of nearby Duluth, Evan Howell. The apartment complex opened 10 years years ago and has 372 residences spread across 12 buildings, according to Pollack Shores representatives.
The complex is located about two miles south of the mall and Pollack Shores officials said the nearby retail and trails helped make it an attractive purchase.
“Menlo Creek offers several natural destination advantages that will help drive demand in the years ahead,” Pollack Shores President Steven Shores said in a statement. “We’re pleased to expand our footprint in Gwinnett County, and will continue to target investment opportunities that align with our long-term growth strategy across the Sunbelt.”
The multi-million renovation of the 444,216-square-foot complex is expected to begin in January. Pollack Shores officials said new stainless steel appliances, granite countertops, new kitchen floors and hardware, backsplashes and custom kitchen fixtures will be installed in each apartment during the renovation.
The new owners also plan to make some landscaping improvements and do work on the exteriors of the buildings.
The complex’s location puts it near an area that officials in the county government as well as the Gwinnett Place Community Improvement District are looking to rejuvenate. The Venture Drive Redevelopment Overlay District, which is designed to encourage denser redevelopment, is one mile north of the complex.
Pollack Shores officials also pointed to other nearby amenities, including the Infinite Energy Center, which is further north on Satellite Boulevard, and Studio Movie Grill, which is on the southern edge of the Venture Drive overlay district.
“Menlo Creek is a strong value-add asset that checks all the boxes for accessibility and convenience, and continues to trend upward thanks to a healthy and diverse local economy,” Pollack Shores Vice President of Acquisitions Brendan Whalen said in a statement.
“We look forward to executing our capital improvement plan that will deliver a superior quality of life for residents.”
To read the full story click here.