Alliance Residential acquires 8.28 acres for 280-unit Prose 5420 in Norcross

Staff Report

Wednesday, November 30th, 2022

 Alliance Residential Company, one of the largest multifamily developers in the nation, announced today the acquisition of 8.28 acres of land for the development of Prose 5420. Located at 5420 Buford Highway in Norcross, Prose 5420 will feature 280 units ranging in size from 724 square feet to 1,161 square feet. 
The City of Norcross and Gwinnett County offer a highly diverse job market which residents will benefit greatly from. The Metro Atlanta-based, Prose 5420 is near major employers including NanoLumens, EMS Technologies and Waffle House headquarters. The property will also offer residents easy access to Interstate 85 and Interstate 285, as well as downtown Atlanta. Nearby attractions include public green spaces like Thrasher Park and Pinckneyville Park, both within ten minutes from the property, and recreation areas such as the Chattahoochee River National Recreation Area and Southeastern Railway Museum.  
"We are big believers in the fundamentals in Gwinnett County. Strong job growth has led to growing demand for high quality rental housing at attainable rates and we’re excited to get started on our 2nd project in the City of Norcross,” said Noah Randall, managing director at Alliance Residential. “Prose 5420 offers future residents’ easy access to major employers in the area and has both Interstate 85 and Interstate 285 accessible within 20 minutes of the property.”  
Designed by architect Dynamik Design, Prose 5420 apartments will feature wood-look flooring throughout, granite countertops, stainless steel appliances, side-by-side washer and dryers, and walk-in closets. Community amenities will include a saltwater pool and pet park, a clubroom with a lounge area and entertainment kitchen, fitness center, business center, and mailroom adjacent to the leasing office.  
"Norcross has been the beneficiary of significant growth across a variety of industries, while maintaining their unique downtown feel with antique shops, coffee shops, and restaurants,” said Andrew Butcher, development associate at Alliance Residential. “Prose 5420 represents a unique opportunity to offer an attainable new product that will serve the robust base of jobs throughout Gwinnett County.”