Kaufman Capital Partners and Atlantic Residential Break Ground on a $65M Mixed-Use Redevelopment in Doraville
Thursday, January 28th, 2021
On December 8, 2020, Kaufman Capital Partners and Atlantic Residential broke ground on the $65M Lumen Doraville development located at Peachtree Industrial Boulevard and Tilly Mill Road. The project is the redevelopment of two thirds of a 130,000 square foot retail center, The Village at Tilly Mill Crossing, formerly known as Friday’s Plaza, which was situated on approximately 14 acres. The development plan bifurcates the existing shopping center and will leave approximately 35,000 square feet of retail on five acres. The new development includes two buildings containing 320 apartments, as well as approximately 3,500 square feet of ground floor commercial space.
Representatives from the City of Doraville, the Doraville Downtown Development Authority, Atlantic Residential, Truist Bank and Kaufman Capital Partners were on site for a groundbreaking and demolition ceremony. Following remarks from City of Doraville Mayor Joseph Geierman; Andy Yeoman, District 1 councilmember – Doraville City Council; Harold Shinn, chairman – Doraville Downtown Development Authority; Richard Aaronson, president - Atlantic Residential; Ronald Alston, Atlanta market president – Truist Bank; Craig Kaufman, president – Kaufman Capital Partners; and Garry Sobel, senior vice president – Kaufman Capital Partners, attendees watched as a Komatsu excavator demolished part of the Village at Tilly Mill Crossing shopping center. Dignitaries excitedly participated in the event that will bring new life to the decades old center. Demolition continued throughout the week with construction on the project beginning soon after with an expected completion by 2023.
“Three years ago, we had a vision to transform this underutilized property into a modern development that truly serves the needs of Doraville residents while acting as a catalyst for growth in the corridor,” said Garry Sobel, senior vice president – Kaufman Capital Partners. “This collaborative effort would not have come to life without the support of the City of Doraville, its Mayor, Planning Commission, City Council and the Doraville Downtown Development Authority.”
“It’s been a long road to get here. This lengthy process was further complicated by the challenges we all faced in 2020. Getting to the finish line to finance this project was all about perseverance, partnership and aligning interests,” said Craig Kaufman, president - Kaufman Capital Partners.
“We are excited to continue our longstanding relationships with both Truist Bank and Kaufman Capital Partners,” said Richard Aaronson, president - Atlantic Residential. “Atlantic Residential’s team, led by Ben Curran and Jason Ward, has been working hard for the past two years with the Doraville staff to design a Class-A mixed-use environment. Lumen Doraville will attract new residents to the city by creating a walkable neighborhood that blends new multifamily development with the existing commercial retail buildings,” he added.
“Lumen Doraville marks an exciting opportunity to begin executing on our city's comprehensive plan,” said City of Doraville Mayor Joseph Geierman. “Because of this, Doraville's elected leadership was committed to making sure we had the right people in the right positions: to negotiate on the city's behalf and to streamline any approval processes that could potentially bog the project down. We believe this resulted in a plan that is a win-win for everyone involved, and are excited to see this project get started so quickly. We are grateful for the partnership with Truist, Atlantic Residential and Kaufman Capital Partners.”
At the groundbreaking, Harold Shinn, chairman – Doraville Downtown Development Authority, remarked, “We are all so excited about what starts here today.”
According to Doraville City Councilman and DDA member, Andy Yeoman, “This is, without a doubt, one of the most exciting projects for Doraville. Lumen Doraville is an important investment for our city to attract a new millennial workforce and residents who do not currently have housing options in our city. Congratulations to Kaufman Capital Partners and Atlantic Residential. Thank you for your confidence and investment in the future of our city.”
Kaufman Capital Partners purchased the property in 2016. For the past few years, Kaufman Capital Partners and Atlantic Residential worked collectively to bring the Lumen Doraville project to life. The Kaufman/Atlantic joint venture closed on the deal to purchase the property on November 23, 2020.
The largescale project will transform the western entrance to Doraville and serve as a catalyst for future growth in the corridor. To learn more about the redevelopment, visit the Kaufman Capital Partners website. Click here to view renderings of the project.