Standard Communities has initiated a Class A+ multifamily project in downtown Savannah, GA. The project, called The Line, is capitalized at approximately $60 million.
The Line will consist of 32 units in a converted building on East Liberty Street that was constructed in 1926 by Atlantic Coast Line Rail Road. A newly constructed adjacent building will offer an additional 187 apartments.
“Our investment in Savannah is consistent with Standard’s track record in reviving urban areas throughout the United States by creating appealing communities,” said Scott Alter, co-founder and principal of Standard Communities. “This is Standard’s first ground up development in the United States, making it especially noteworthy,” said Mr. Alter.
The community will consist of studio, one-bedroom and two-bedroom unit and amenities such as a co-working space with two conference rooms, lounge with ping pong and billiards, and a terrace level with a pool, sundeck, fitness center and yoga room and grill area.
Photo courtesy Standard Communities
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