COVINGTON, GA - Landmark Properties announced it has started leasing The Cove at Covington Town Center, its luxury Class-A apartment community in Covington, Georgia. The 350-unit, market-rate property was developed in partnership with ACRE, a global real estate private equity firm, and is part of Covington’s 131-acre mixed-use master planned community, Covington Town Center.
Located at 12301 Town Center Boulevard, The Cove consists of 14 residential buildings featuring a mix of one-, two- and three-bedroom floor plans ranging between 620 and 1,945 square feet. It includes a rich amenities package including a luxury clubhouse, resort-style pool, coworking spaces, state-of-the-art fitness center, linear park, dog park and pet spa. In-unit amenities include washer and dryer machines in every apartment, modern light fixtures, and durable quartz solid-surface countertops.
ACRE and Landmark broke ground on The Cove at Covington in December 2020, and will begin welcoming residents into the first building in July. The pet-friendly community is being managed by Greystar, and pre-leasing and application review are already underway.
“Like so many other fast-growing areas of the Sun Belt, the need for more upscale rental housing options in Covington is extremely high. The area has gone without new, well-amenitized multifamily development for two decades, and a combination of significant population growth and a wealth of new jobs in the area have created a market sorely in need of new supply,” said David Tracht, Landmark Properties Senior Developer. “After more than two years of development in partnership with Landmark Properties, we are excited to finally deliver this amenity-rich community to help accommodate the continued growth of Covington and the rest of the Greater Atlanta region.”
Major population growth in Covington has been fueled by the relocation of a number of corporations and other major employers to the area in recent years. These include the expansion of Cineleases’s 90-acre film studio, Three Ring Studio, which is set to expand by an additional 276,000 square feet of stage space, 100,000 square feet of office space and 72,800 square feet of flexible space – making it one of the largest studios in the country upon completion in 2023. In addition to Three Ring, other major employers in the area include General Mills, Facebook, Oxford College of Emory Bard, Pactiv, Mannington Mills, Clarion Metals, Bridgestone and Michelin.
Located less than an hour away from Atlanta via I-20 West, Covington’s proximity to one of the Southeast’s most vibrant and fast-growing metropolitan areas has also been a key contributor to its growth. In addition, the community is adjacent to a five-acre park complete with walking trails, and residents have access to ample shopping, entertainment and dining options within walking distance.
“We are pleased to partner with Landmark Properties to bring this dynamic multifamily community to market during a time of unprecedented growth and revitalization in the City of Covington,” said Melanie Gersper, ACRE Chief Operating Officer. “Resident interest in this premium community has already proven to be high, and we are actively fielding applications with plans to begin move-ins on July 1.”
Through a series of equity and debt funds, ACRE manages more than $3 billion in assets across private real estate investments and loans. The firm specializes in multifamily development and investment opportunities across Class A, B and C assets in strategic growth markets. ACRE’s unique approach to managing its diverse portfolio of multifamily properties includes an intentional focus on creating added value for residents that extends beyond the four walls of their homes. By establishing a sense of community among residents through socially impactful investments and sustainable green measures, ACRE effectively improves tenant retention and generates stable, cash-flowing properties.