Armada Hoffler Properties Announces Commencement of Southern Post, a Mixed-Use Project in Roswell, Georgia
Armada Hoffler Properties (NYSE: AHH) announced the upcoming construction of Southern Post in Roswell, Georgia, set to begin by the end of 2021.
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Rhea-AI Summary
Armada Hoffler Properties (NYSE: AHH) announced the upcoming construction of Southern Post in Roswell, Georgia, set to begin by the end of 2021. This mixed-use development will encompass 260,000 square feet, featuring 128 luxury apartments, 9 townhomes, 95,000 square feet of creative office space, and 40,000 square feet of retail. The project aims for a summer 2023 delivery and has an estimated cost of $110 million. The design will reflect Roswell's historical charm, supported by the company's construction subsidiary.
Positive
- Construction of Southern Post to start by end of 2021, enhancing portfolio.
- Projected delivery in summer 2023, indicating timely project completion.
- Estimated development costs of $110 million could boost local economy.
Negative
- None.
Details
News Market Reaction – AHH
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VIRGINIA BEACH, Va., Oct. 27, 2021 (GLOBE NEWSWIRE) -- Armada Hoffler Properties, Inc. (NYSE: AHH) announced today that construction will begin at Southern Post by the end of this year. The 260,000 square foot mixed-use development project, wholly owned by the Company, is in the historic downtown of Roswell, Georgia and scheduled for initial delivery in summer of 2023.
In collaboration with the city, Southern Post is designed to honor Roswell’s historical charm and serve as a gathering spot for residents. Plans for the project include 128 luxury apartment units, 9 exclusive townhomes, 95,000 square feet of creative loft office space, 40,000 square feet of pedestrian-friendly retail and structured parking. The project's architecture will incorporate elements that have been used throughout Roswell's historic district with the addition of modern components. Estimated development and construction costs for the project are expected to total approximately
“We are excited to move forward with this transformative project in the city of Roswell,” said Louis Haddad, President & CEO of Armada Hoffler Properties. “Southern Post will be a true mixed-use development on an intimate scale that brings together the synergies of the urban lifestyle and a close-knit community.”
Armada Hoffler Construction Company, a wholly owned subsidiary of the Company, will serve as general contractor for the project.
For more information visit https://southernpostroswell.com/
About Armada Hoffler Properties, Inc.
Armada Hoffler Properties (NYSE: AHH) is a vertically-integrated, self-managed real estate investment trust with four decades of experience developing, building, acquiring and managing high-quality office, retail and multifamily properties located primarily in the Mid-Atlantic and Southeastern United States. The Company also provides general construction and development services to third-party clients, in addition to developing and building properties to be placed in their stabilized portfolio. Founded in 1979 by Daniel A. Hoffler, Armada Hoffler has elected to be taxed as a REIT for U.S. federal income tax purposes. For more information visit ArmadaHoffler.com.
Investor Relations Contact:
Michael P. O’Hara
Armada Hoffler Properties, Inc.
Chief Financial Officer, Treasurer, and Secretary
Email: MOHara@ArmadaHoffler.com
Phone: (757) 366-6684
Media Relations Contact:
Chelsea D. Forrest
Armada Hoffler Properties, Inc.
Director of Marketing
Email: CForrest@ArmadaHoffler.com
Phone: (757) 612-4248
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