Unique multifamily project a go in jobs hotspot east of Atlanta Josh Green Tue, 08/08/2023 - 13:29 Developers expect to break ground soon on an 11-building rental community with design elements that aim to reflect the historic character of its eastern-OTP setting, capitalizing on a growing market partially fueled by Georgia’s TV and film industry.
Brook Farm Group officials announced today a 37-acre project called The Sinclair at Callaway Farm has secured funding to proceed in a Covington location developers described as a “dynamic growth corridor.”
The site is just north of Interstate 20 about eight miles southeast of Georgia International Horse Park, between Covington and Social Circle where Alcovy Road meets City Pond Road. It’s adjacent to a 180-acre mixed-use development called Covington Town Center.
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According to the tabulations of Brook Farm Group and its co-development partners, Emory Equity and SilverCap Partners, the area is expected to attract 10,000 new jobs by 2026.
The Sinclair project will see two “Town and Country” neighborhoods rise with 11 different residential buildings, offering 388 Class A multifamily rentals total, per developers.
Other aspects will include a 9,000-square-foot clubhouse (pictured below), a resort-style pool, a dog park and pet spa, coworking space, two-story gym, and what’s described as the market’s first rooftop lounge. Four of the buildings will feature elevators, developers note.
Courtesy of Brook Farm Group
The development team aims to break ground on The Sinclair in the third quarter of this year. First Horizon Bank and TrustMark Bank have provided construction financing.
The Sinclair’s location is about 30 miles from both downtown Atlanta and, to the west, Lake Oconee, considered one of the metro’s premier recreation attractions.
Developers cited growing major employers in the eastern suburbs around Covington—Takeda, SKC, and Cinelease’s 160-acre Three Ring Studio, along with new companies Rivian Automotive, 80 Acres Farms, Archer Aviation, and Ascend Elements—as a reason for investing in the area.
Covington's TV and film history tracing from The Dukes of Hazzard and In the Heat of the Night to Vampire Diaries has earned the city the nickname "The Hollywood of the South," which developers pointed to as additional cachet.
The Sinclair at Callaway Farm's location east of Atlanta where Alcovy Road meets City Pond Road in Newton County. Google Maps
The Sinclair project “is designed to address the growing demand for high quality rental communities outside of Atlanta’s urban core,” said Peter DiCorpo, Brook Farm Group’s chief operating officer, in a project announcement today.
Brook Farm Group is bullish that Atlanta and other growing markets will exceed “historical [multifamily] deliveries by a significant margin” for the foreseeable future to dampen demand. Since 2010, developers have added between 200,000 and 300,000 multifamily units per year nationally, according to the company.
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Alcovy Road and City Pond Road The Sinclair at Callaway Farm Brook Farm Group Emory Equity SilverCap Partners OTP Interstate 20 First Horizon Bank TrustMark Bank Atlanta apartments Newton County Georgia International Horse Park 30014 Multifamily Development Atlanta Suburbs Covington Town Center
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The Sinclair at Callaway Farm's location east of Atlanta where Alcovy Road meets City Pond Road in Newton County. Google Maps
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Courtesy of Brook Farm Group
Subtitle 11-building The Sinclair at Callaway Farm aims to capitalize on Covington growth
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