Toro Development Unveils $350M Mixed-Use Project in Johns Creek, Atlanta

Toro Development Co. has embarked on its ambitious mixed-use project, Medley, set to transform Johns Creek, GA. Acquiring a 43-acre parcel for $44 million, the project includes various components such as office spaces, retail establishments, and residential units.

Project Overview

Medley is a $350 million project slated to unfold at the intersection of Johns Creek Parkway and McGinnis Ferry Road. Approved by the Johns Creek City Council, the development aims to become a central hub for the community, offering amenities beyond residential and office spaces. With its strategic location within the Town Center, it is poised to redefine Johns Creek's urban landscape.

Development Details

The project encompasses a diverse range of offerings, including 200,000 square feet of retail and restaurant space, 110,000 square feet of office space, along with public greenspace. Moreover, the development will introduce 150 townhomes and 750 luxury apartments, catering to various residential needs.

Renovation Plans

Toro Development Co. intends to renovate the existing office building within the premises, repurposing its ground floor for retail and restaurant ventures. This adaptive reuse strategy reflects the company's commitment to maximizing the site's potential while honoring its existing infrastructure.

Leadership and Partnerships

Key figures leading the project's construction include Mark Toro, John Kelley, Richard Munger, Vicky Boyce, and Carla Cox. Collaborating with architectural firm Nelson Worldwide, engineering firm Kimley-Horn, and landscape architect Site Solutions, Toro Development Co. aims to deliver a seamlessly integrated development.

Leasing Initiatives

Franklin Street's Len Erickson and Kaitlyn Theriot are spearheading the retail leasing efforts, while Stream Realty Partners' Bryan Heller and Parker Welton are overseeing office leasing. This concerted approach underscores the company's focus on securing tenants and ensuring the project's commercial success.

Market Insights

Amidst Atlanta's mild office market activity, Medley emerges as a significant endeavor. Despite a slowdown in investment volume, the region has witnessed improvements in vacancy rates and leasing activities. With approximately 3.1 million square feet of office space under construction, the city's commercial landscape continues to evolve.

Equity Recapitalization

Recent equity recapitalization efforts by Vero Capital and Prime Finance highlight ongoing investment opportunities in the Atlanta market. This includes assets like the Parkway at Avalon, reflecting continued interest in the region's real estate prospects.

In essence, Toro Development Co.'s Medley project signifies a pivotal moment for Johns Creek, embodying innovation, community-centric design, and strategic partnerships in shaping the city's future urban fabric.