Received this press release from Carter this morning…

Carter to Develop $40 Million Mixed-Use Project in Decatur 

Development to include 233 apartments with street-level retail in one of Atlanta’s most livable cities

ATLANTA (April 24, 2013) – Carter, one of the nation’s leading real estate development, investment and advisory firms, announced today that the company will develop 315 West Ponce, a $40 million mixed-use project in Decatur, Ga. The five-story residential buildings will comprise 233 apartment units and approximately 10,000 square feet of street-level retailspace.

“Carter is incredibly excited to be developing a Class-A mixed-use project right in our backyard,” said Conor McNally, chief development officer at Carter. “While Decatur has experienced significant population and retail growth during the last 10 years, no new apartment projects have beendelivered since 2001, which makes the timing for this project ideal.”

315 West Ponce will target young professionals with a mixture of one-, two- and three-bedroom apartments, as well as a full line of amenities including a pool, clubhouse, fitness center and two outdoor courtyards with green space. The development will also include a structured parking deck to be shared between the new retail and residential buildings and the existing 10-story office building located on the site.

The Decatur Downtown Development Authority has approved the site plan for the project, which is located two blocks from the DecaturSquare and approximately 20 minutes from downtown Atlanta. The Preston Partnership is the architect for the project and Brasfield & Gorrie is the contractor. Construction is anticipated to begin later this summer.

Carter has a rich history of developing multi-family projects and specializes in developing complex, urban mixed-use projects across multiple asset classes. From complicated mixed-use developments to high-rise condominiums, Carter’s leadership brings a depth of experience to a variety of project types.