A new apartment tower, Momentum Midtown, located in Atlanta, Georgia, has finally topped out after beginning construction in 2021. The 376-unit building is a joint venture between Toll Brothers Apartment Living and PGIM Real Estate. The partners recently celebrated the topping out of the tower, marking a significant milestone in the project.
A growing market
At the ceremony, Toll Brothers’ President, John McCullough, highlighted that Momentum Midtown is the fourth luxury multifamily community developed by the company in Atlanta. He pointed out that the city is becoming a rapidly-growing market for rental properties, with new opportunities to attract highly-skilled workers to the city.
Prime location
Momentum Midtown is a 36-story high-rise rental community situated in the heart of Midtown, one of Atlanta’s vibrant neighborhoods. The site spans 0.83 acres and is conveniently located near I-75/85, MARTA rail stations, GA-400, and Hartsfield Jackson International Airport, making transportation easily accessible for residents and commuters. The location also offers convenient access to employment centers and major employers in the area, such as Google, NCR, AT&T, Coca-Cola, and the neighboring Georgia Institute of Technology.
Upscale amenities
Momentum Midtown will feature a mix of studio, one, two, and three-bedroom floor plans, furnished with stainless-steel appliances, quartz countertops, custom-made cabinetry, and smart home features. The development will offer shared amenities, including an outdoor bar, dining room, exhibition kitchen, theater, and game room. Residents will also have access to a sky lounge, a resort-style rooftop pool and lounge with cabanas, co-working spaces, a club room, fitness center, dog park, and a garage with 435 parking spots.
Financing of the project
A $96 million construction loan facility from Wells Fargo Bank funded the Momentum Midtown project, with financing arranged by Toll Brothers’ in-house Finance Department. Upon completion of the construction, Toll Brothers Apartment Living will take over marketing, leasing, and property management of the development.
Closing Statements
What is Momentum Midtown?
Momentum Midtown is a 376-unit apartment tower located in the heart of Atlanta, Georgia’s vibrant Midtown neighborhood.
What amenities does Momentum Midtown offer?
Momentum Midtown offers residents upscale amenities, such as an outdoor bar, dining room, exhibition kitchen, theater, game room, sky lounge, resort-style rooftop pool and lounge with cabanas, co-working spaces, a club room, fitness center, dog park, and a garage with 435 parking spots.
Who are the partners behind Momentum Midtown?
Toll Brothers Apartment Living and PGIM Real Estate are the joint venture partners behind the construction of Momentum Midtown.
How is the project funded?
The Momentum Midtown project is funded by a $96 million construction loan facility from Wells Fargo Bank, with financing arranged by Toll Brothers’ in-house Finance Department.
