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Kaplan Residential and George S. Morgan Development Company, Inc. Announce One City Walk

ATLANTA and SANDY SPRINGS, Ga., Feb. 28, 2014 (GLOBE NEWSWIRE) -- Designed to be a focal point of the new Sandy Springs City Center, the Kaplan Morgan Joint Venture plans to break ground on One City Walk in June 2014, and welcome the first residents in August 2015. The 203-unit luxury midrise mixed-use apartment community complements the live, work, play environment of this highly desirable metro Atlanta neighborhood.

Located at the corner of Roswell Road and Hammond Road, just one-quarter of a mile from I-285, the six-story One City Walk will include 203 luxury apartment homes, 8,000 square feet of street-front retail space, and an expansive amenity deck. Unique to Sandy Springs and the Central Perimeter area, the rooftop deck will provide residents skyline views of Central Perimeter, Buckhead, Midtown and Downtown, while enjoying the rooftop pool, tanning deck, grill station and bocce ball court. In addition, One City Walk contains a dog park, a fitness center, a club room and business center and abundant green space, as well as convenient access to mass transit. Area walkability will be another highlight. One City Walk boasts a neighborhood walk score of 88 with easy access to upscale shopping and dining. Each of the one and two bedroom residences will feature nine or ten foot ceilings, granite countertops, stainless steel appliances, stand-up showers, and upscale tile and plank flooring in the kitchen, baths and living rooms.

Sandy Springs Mayor, Rusty Paul, said, "One City Walk captures the essence of what we hope to accomplish with revitalizing the Roswell Road Corridor and developing our City Center. With its mix of live and play, the project is a welcome addition to the area's transformation."

Morris Kaplan, Chairman & CEO of Kaplan Residential, noted, "We are pleased to have the opportunity to work with the City of Sandy Springs as it develops its master plan. This smart-growth plan is transforming the desirable Roswell Road corridor into a highly walkable, mixed-use town center that will serve as the new downtown for the City." Kaplan added, "All of our market research indicates there is pent-up demand for luxury rental housing in this burgeoning community which is rich with growing business and services but lacks new luxury apartment development. One City Walk represents the first new luxury apartment development in the Sandy Springs area in many years, and we have every confidence it will be an immediate success."

George S. Morgan, Sr., Chairman and President of George S. Morgan Development Company, Inc., describes One City Walk as "the most walkable residential community in Metropolitan Atlanta. Why drive when Whole Foods, Starbucks and Kroger are next door?" "Most importantly," Morgan adds, "the site's most unique features are its unparalleled skyline views. Once you see the views, you'll call the mover!"

One City Walk is a joint venture between Kaplan Residential and George S. Morgan Development Company, Inc. Niles Bolton Associates (NBA) is leading One City Walk's architectural and interior design effort. NBA is an international multi-family housing architectural firm that has designed more than 750,000 units. Choate Construction is One City Walk's general contractor and Greystar is handling residential management and leasing.

Crim and Associates is leading the retail leasing effort for the project. The Roswell Road/Hammond Drive corner is considered by many retailers to be the heart of the Sandy Springs market. The site's superb visibility and the surrounding area's dense population with high income levels make this a highly sought after location for many businesses. Crim reports extremely strong interest in the project. "We anticipate having commitments on all of the space by the end of March," said Steven St. Paul.

CONTACT: Gayle MacIntyre 404-643-8222 gaylemacintyre@bellsouth.netSource: Kaplan Residential