The real estate investment firm Kennedy Wilson has partnered with the Japanese construction company Shimizu Corp. to develop Caldwell, a 382-unit luxury multifamily community in the Atlanta suburb of Sandy Springs, Georgia.
The community, which is being built on the 6.9-acre former site of a UPS office, will feature 382 residences averaging 937 square feet, along with more than 17,500 square feet of indoor and outdoor amenities. The approximately $139 million development is expected to welcome its first residents in 2028.
New South Construction will serve as general contractor, Dynamik Design as architect and PEC+ as civil engineer. The project marks Kennedy Wilson’s first multifamily development in Georgia and the first partnership with Shimizu.
“Our acquisition of Caldwell is an exciting milestone for Kennedy Wilson as we expand our multifamily development platform in Georgia and establish our first partnership with Shimizu,” said John McCullough, president of the multifamily development group at Kennedy Wilson. “Caldwell offers exceptional long-term fundamentals, driven by strong employment growth and an affluent resident base with limited new multifamily supply. By transforming an underused office site into a thoughtfully designed residential community, we are maximizing the utility of the land and creating much-needed housing in one of Atlanta’s most desirable metros.”
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