RangeWater Real Estate, a fully integrated multifamily real estate company across the Sunbelt and Mountain West, commemorated the groundbreaking of its new 50-acre residential community composed of both single-family and apartment homes in Lawrenceville, Ga., a fast-growing area located approximately 30 miles northeast of Atlanta. The $140+ million project includes The Mabry, a build-to-rent community with 156 single-family homes and townhomes, along with The Margot, a multifamily community featuring 332 apartment homes.
The official groundbreaking ceremony was held on November 2nd at 2274 Azalea Dr. Lawrenceville, Ga. Local influencers, members of the media, real estate brokers and city officials attended the exclusive launch which culminated with a ceremonial groundbreaking by RangeWater’s executive team, including Steven Shores, Chairman and CEO; Brian Oates, Executive Managing Director of Development; and Alp Kirmizioglu, Director of Construction at RangeWater.
“I am proud of our diligent and resourceful team for seeing the energy and potential in Gwinnett County to build this meticulously designed community of townhomes, detached single-family homes and apartment homes,” said Steven Shores, Chairman and CEO of RangeWater. “Gwinnett is one of America’s fastest-growing counties and now one of the nation’s most diverse. We are excited to expand our footprint in the area and finally bring these projects to life in this dynamic and exciting county, which combines the best of big city living with the comforts of the suburbs.”
RangeWater closed on the acquisition of the property at the corner of Azalea Drive and Buford Drive in June of 2022 and simultaneously launched its new construction division, RangeWater Construction, led by Alp Kirmizioglu. The new division is currently overseeing the construction of 620 multifamily and single-family units, valued at $120 million, across the country, and has another 800 units valued at $140 million planned to start next year.
The Mabry, part of RangeWater’s Storia® build-to-rent platform, will deliver 156 detached single-family homes and townhomes. The homes will offer three- and four-bedroom floor plans ranging from 1,400 to 2,200 square feet, each with its own backyard or patio. Community amenities include a pool, an events lawn, a dog park and a walking trail around a scenic pond.
The Margot will deliver 332 apartment homes featuring one and two-bedroom floor plans ranging from 750 square feet to 1,153 square feet. Amenities will include a terraced English garden and native plant meadow, an infinity pool, an outdoor kitchen, an event space and two dog parks.
Both communities are just minutes away from The Exchange at Gwinnett, a mixed-use development anchored by Top Golf and Andretti Indoor Karting & Games, and a short drive from Minor League Baseball’s Coolray Field, home of the Gwinnett Stripers.
RangeWater plans to offer pre-leasing for The Mabry in Fall 2023 and The Margot in Winter 2023. For more information, please visit LiveRangeWater.com.
About RangeWater Real Estate
RangeWater is a fully integrated multifamily real estate company creating fulfilling experiences for its partners, clients, residents and employees across the Sun Belt and Mountain West. The Atlanta-based company has acquired and developed more than 34,000 multifamily units since its inception in 2006 representing in excess of $6.5 billion in total capitalization. RangeWater currently manages a balanced portfolio of over 93,000 multifamily units across 11 states. With offices in Atlanta, Dallas, Denver, Tampa and Salt Lake City, RangeWater targets high job growth markets with demand for new housing. For more information, visit LiveRangeWater.com.