ECI Group Launches $76 Million The Averly Collins Hill Apartment Development in Lawrenceville
In a significant move bolstering Lawrenceville’s housing landscape, ECI Group, in partnership with The Griffin Fund, has announced the commencement of The Averly Collins Hill. This $76 million venture will introduce eight buildings collectively housing 300 Class A apartment units across the expanse of 22 verdant acres at 700 Collins Road. ECI Construction is spearheading the build, bolstered by construction financing from Synovus, ensuring the project’s smooth progression.
The Averly Collins Hill is meticulously designed as three-story, garden-style dwellings, elevating the residential diversity alongside a planned 55+ active adult community and an accompanying commercial sector by other developers within the Lawrenceville Gateway plan. This synergic development aligns with the region’s growth, particularly with the Northside Hospital Gwinnett tower soon to introduce an estimated 3,000-5,000 job opportunities to the vicinity.
Stephen Stover, ECI’s Vice President of Development, expressed the company’s enthusiasm, underscoring the collaboration with The Griffin Fund and highlighting the integral support from Lawrenceville city officials that helped bring The Averly Collins Hill to life. He affirmed, “We very much appreciate the collaboration and support we received from the City of Lawrenceville, particularly Mayor David Still, City Manager Chuck Warbington, and Planning and Development Director, Todd Hargrave. With their perspective and vision, The Averly Collins Hill will provide residents coming to the City for its jobs, amenities, schools, and resources with convenient and quality housing in a mixed-use neighborhood.”
The strategic positioning of The Averly Collins Hill benefits from proximity to University Parkway and the existing Walmart Supercenter-anchored shopping center, ensuring resident convenience. Moreover, the project is anticipated to support and align with the employment swell from prominent local institutions like Northside Hospital Gwinnett and Georgia Gwinnett College, as well as the sprawling 2,000-acre Rowan technology and research enterprise.
In a period marked by tightening financing avenues, the $46 million loan extended by Synovus showcases significant confidence in the project. Seth Greenberg, CEO of ECI Group, accentuated this point, stating, “We are particularly appreciative of the confidence that Synovus demonstrated in this well-located and thoughtfully conceived development, providing ECI with the construction financing needed to start this project immediately and in the best window for delivery.”
With The Averly Collins Hill, ECI Group and The Griffin Fund are forging a path of innovation in multifamily living, aligning it closely with the economic trajectory and community needs of Lawrenceville, ensuring a bright future for its residents and the city at large. This development not only exemplifies thoughtful urban planning but also reflects a strong stance on responsible and inclusive community-building that is becoming increasingly critical in the multifamily apartment industry.