Boston – (May 17, 2016) – GID announced today the formation of a joint venture with Pollack Shores Real Estate Group to develop 1270 Spring Street, a luxury multi-family property in the Midtown neighborhood of Atlanta, Georgia. The project will be located on a 1.8 acre site at the southwest corner of 16th and Spring Streets, one block west of the MARTA Arts Center train station and two blocks north of a Whole Foods grocery store.

When completed, the project will be five stories of residential over three levels of parking with 13,000 square feet of ground floor retail. The property will feature a large central courtyard with sundeck and outdoor swimming pool, clubroom, fitness center, and business center. Unit finishes will include nine-foot ceilings, vinyl plank flooring in the kitchens and living rooms, quartz counter tops with under-mount sinks, tile backsplashes, stainless steel appliances, wood cabinets and full size stackable washers and dryers in all units. Bathrooms will be equipped with quartz counter tops, ceramic flooring and tiled tub and shower surrounds.  The unit mix will consist of 73% one-bedrooms, 26% two-bedrooms and 1% live/work units, with an overall average unit size of 833-square feet.

This transaction represents the first joint venture between Pollack Shores and GID. Bill Chiasson, Senior Vice President of Real Estate Acquisitions for GID commented, “GID is pleased to initiate our relationship with Pollack Shores with this development.  This is an excellent opportunity to expand our presence in an exciting urban submarket that offers tremendous proximity to employment, dining, retail, nightlife and public transit.  We hope to further our partnership with Pollack Shores with additional developments in the future.”