CASTO/MIDCITY JV, with the City of Snellville, close on purchase of land for The Grove at Towne Center

SNELLVILLE — A joint venture between CASTO and MIDCITY is pleased to announce that, with the City of Snellville, it has closed on the purchase of the land for Phase I of The Grove at Towne Center. Construction on the project’s $85 million first phase commenced in March. General contractors Hodges & Hicks, Fortune-Johnson, and Winter Construction, TSW Architects and Place Makers Design, along with architects Dynamik and Smallwood, are leading the construction and design of the town center. The project is expected to deliver late 2022/early 2023.

“Every item we check off the list brings us one day closer to seeing The Grove at Towne Center open to our community,” said Mayor Barbara Bender. “It’s especially exciting to see physical evidence of this long-awaited project now that construction has begun!”

In addition to closing on the land, the CASTO/MIDCITY JV also closed on its loan with US Bank, leaving only the continuation of construction and securing the ideal mix of tenants to fill the new retail, restaurant, and office space – a process that is already well underway.

“Watching a project come to life never gets old,” said Kirk Demetrops, President of MidCity Real Estate Partners. “Closing on the land sale is an exciting milestone that opens up the door for us to continue creating and adding to this project that means so much to the City and its residents.”

In addition to 50,000 square feet of shopping, dining, recreation, and business space, The Grove at Towne Center will also offer residential opportunities, a new Gwinnett County Library, a special use Mercantile Building and significant common areas including The Grove town green. Apartments in The Grove will feature an upscale living experience that will appeal to a wide range of ages and life stages that wish to enjoy the convenience and luxury of an urban lifestyle. Offering walking access to retail, dining, the greenway system, and more, these apartments will combine the best of modern convenience with a quiet, peaceful setting.

For more information and project updates visit The Grove at Towne Center.

 

ABOUT CASTO

CASTO, a fully integrated real estate organization since 1926, is a recognized leader in the ownership, management, acquisition and development of multifamily residences, mix-use properties, commercial shopping centers and office buildings. CASTO’s growing portfolio currently includes more than 26 million square feet of commercial property and more than 5,000 residential units located throughout the midwestern and southeastern United States. CASTO is headquartered in Columbus, Ohio, and serves a variety of clients from five offices in Florida, North Carolina, and Ohio. To learn more about CASTO, visit www.castoinfo.com.  

 

ABOUT MidCity Real Estate Partners

Founded in 2009, Atlanta based MidCity Real Estate Partners acquires, repositions, and develops office, retail, and mixed-use properties. MidCity is known in the Atlanta market for several corporate headquarters and master developer of Alpharetta City Center, a public-private town center and award winner of ULI’s Excellence of Town Center Development, ULI’s People’s Choice of Public Realm and Atlanta Regional Commissions Development of Excellence. Through MidCity Realty Corporation, an affiliate real estate brokerage company, MidCity offers a full range of advisory services. MidCity is the successor company to The Griffin Company, a 35-year-old full service commercial real estate development and construction company headquartered in Atlanta, GA. To learn more about MidCity, visit www.midcitypartners.com.

 

ABOUT SNELLVILLE

Snellville’s convenient Gwinnett County location, approximately 18 miles east of Atlanta and 45 miles west  of Athens, has allowed it to prosper as a hub of commerce and retail in Northeast Georgia. Snellville's roots extend to 19th century London when two friends traveled to America and later started Snellville’s rich history of commerce with stores of their own. Snellville is home to the award-winning Snellville Farmers’ Market, a world class Veterans Memorial and one of the most decorated police departments in the state. Snellville is known for its dedicated volunteers and its celebrated diversity.

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