ATLANTA, GA - National multifamily developer Wood Partners announced the start of construction of Altera Union City near Atlanta and Altera Land O' Lakes near Tampa, Florida. The multifamily communities are part of the firm's Altera brand, a new attainable housing initiative offering upscale living at cost-effective rates.
Altera communities are built with upscale finishes such as granite countertops and stainless-steel appliances and top-of-the line amenities. The developer saves on costs by selecting well-located suburban sites rather than more expensive urban locations, executing an efficient and consistent design and embracing minimal, yet well-done, landscaping. These savings allow for a lower price point for the renter.
"There continues to be a shortage of reasonably priced rental options in this country," said Joe Keough, Chairman and CEO at Wood Partners. "As a responsible member of the housing industry, we believe it is our obligation to offer a solution to this problem by creating a product that falls within our high standards of excellence at an attainable price. We look forward to expanding our Altera product offering across the country."
Altera Union City: Altera Union City is located at 7105 Hall Road in Union City, Georgia, outside of Atlanta. The 320-unit apartments will feature an expansive ground floor amenity level with resort-style pool, fully equipped gym and yoga studio. However, its greatest amenity is its location. Altera Union City is walkable to Starbucks, Dunkin' Donuts and the Publix Super Market at Parkway Village. Bennett Sands, Managing Director of Wood Partners' Atlanta office, is the development lead for the project.
Altera Land O'Lakes: Located at 18722 Grand Live Oak Boulevard in Land O' Lakes, FL, Altera Land O' Lakes encompasses five 4-story buildings and one 3-story building totaling 305 apartment units with one-, two- and three-bedroom options. The site fronts US-41 and has excellent access offering convenient commutes throughout the Tampa MSA. The community is located in Pasco County, which is ranked as one of Florida's fastest growing submarkets.
Amenities at Altera Land O' Lakes will include an attractive leasing, fitness and clubhouse building with co-working space, day office and package room. The community will also feature a resort-style pool, sundeck with shade sails, grilling areas, fire pits, outdoor gaming, dog park and pet wash.
The project is estimated to be completed by December 2025. Tyler Hurd, Managing Director of Wood Partners' Tampa office, is the development lead for the project.