AHS Residential announces it has closed on financing for AHS Tributary, a 433-unit mixed-use residential community located in Douglasville, a suburb approximately 20 miles west of Atlanta.
PNC Bank provided a $46.5 million loan for construction of AHS Tributary, AHS Residential’s first development outside of Florida. AHS Tributary broke ground in late June and the community will be delivered in the first quarter in 2023.
AHS Tributary will offer studio, one-, and two-bedroom floor plans in seven 5-story buildings. Apartments will feature modern finishes, stainless steel appliances, and in-unit laundry. Built with young professionals and families in mind, AHS Tributary’s well-designed amenities include assigned parking, business center, and a multipurpose clubhouse complete with a swimming pool and fitness center. In addition, the community will feature a two-story, 22,000-square-foot commercial building with 9,000 -square-foot retail space on the first floor and 13 one-bedroom lofts available for leasing on the second floor, as well as a 5,000 square-foot freestanding retail building.
AHS Residential currently controls and operates over 2,500 apartments in Florida, and recently expanded into Georgia and Texas, with the goal of delivering up to 5,000 apartments annually by 2025. The company is on a mission to help solve the U.S. housing crisis by building high-quality apartments in growing metros where many renters are getting priced out by rising rents.