Atlanta-based Avila Real Estate and Hedgewood Homes are moving dirt on a $350 million, two-site development that will add close to 800 homes around downtown Avondale Estates. On 13 acres behind the Town Green, the Oak Street/City Park section will bring about 475 apartments and 75 for-sale homes; a five-acre Maple Street site nearby adds roughly 290 apartments and 36 for-sale cottages and townhomes.
Hedgewood is starting with the for-sale homes on Maple Street while Avila builds a stormwater pond and extends a street on the Oak Street side, land it has held since 2014 as former industrial and warehouse property, ahead of a first apartment building.
The city is putting in $7.2 million from its own tax allocation district for infrastructure and public space, with full build-out expected to take about five years.
Why it matters
It's one of the largest single redevelopment bets in DeKalb's inner suburbs, and the city is subsidizing it directly through its own tax district.
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