13 Jan Novare Group, BCDC, Baltisse Acquire Land for Luxury Apartments in Port Wentworth, Georgia
Novare Group, Batson-Cook Development Co. (BCDC) and Baltisse have acquired roughly 30 acres in the Savannah MSA. The JV will build a 328-unit Class A, garden-style apartment community on the site.
Located on Augusta Road/Highway 21 near the I-95 interchange, the community will offer easy access to all of the area’s major employment centers, including the Port of Savannah, Gulfstream, Savannah/Hilton Head International Airport and downtown Savannah, all within a 20-minute drive.
“Novare Group is excited to begin work on our latest Savannah-area community” said Novare Group CEO Jim Borders. “This site is located in a dynamic and growing area of Georgia with a great quality of life and coastal amenities.”
“BCDC is more than pleased to be starting our 31st community with our longtime partner, Novare Group,” said Litt Glover, President and CEO, BCDC. “This relationship has delivered excellent returns while providing first-class communities in the markets we serve.”
The community will feature a clubhouse, fitness center and a resort-style pool around an open green space with outdoor grills and a pet park. It will include one, two and three-bedroom residences in coastal inspired buildings that will include eight carriage houses
Port Wentworth’s proximity to the Port of Savannah, the fastest growing and third largest port in the nation, has increased the population by 103% since 2010. The growth and outstanding demographics, including average household incomes north of $107,000 within a mile of the community, coupled with a responsive municipal government, drove the joint venture to make the investment in Port Wentworth.
Texas Capital Bank is the senior lender on the community. Dwell Design Studio is the architect, with Classic Plains Construction serving as the general contractor. Thomas & Hutton is the civil engineer.
Novare Group, BCDC and Baltisse expect delivery of the first units in the first quarter of 2023.
About Novare Group
Novare Group is a real estate development and investment company headquartered in Atlanta, Ga. Since 1992, Novare Group has developed over 17,500 residential units in 55 communities across a variety of product types across the southern and western United States. Learn more by visiting www.novaregroup.com.
About BCDC
Founded in 1963, Batson-Cook Development Company, BCDC, is a fully integrated real estate organization providing development and capital solutions, primarily through partnerships on commercial real estate projects in the Southeastern United States. Based in Atlanta, Georgia, Batson-Cook Development Company offers a wide variety of real estate services, from development and construction to equity and credit enhancements to brokerage and property management. It is a wholly-owned subsidiary of Kajima USA. Learn more by visiting www.batsoncookdev.com.