Image courtesy of AHS Residential.

Miami apartment developer, owner and operator AHS Residential is expanding outside of Florida with the development of AHS Tributary, a 433-unit mixed-use apartment community in Atlanta‘s Douglasville suburb.

The project represents AHS Residential’s first asset outside Florida. The company broke ground on the development in June and recently secured a $46.5 million construction loan from PNC Bank, according to a press release.

AHS Tributary will offer studio, one-, two-, and three-bedroom apartments and is expected to be delivered in the first quarter of 2023. The development will include a two-story, 22,000-square-foot commercial building with 9,000 square feet of retail space on the first floor and 13 one-bedroom lofts on the second floor. A 5,000-square-foot freestanding retail building is also planned.

AHS currently controls and operates more than 2,500 apartments in Florida and is expanding into Texas, as well as Georgia, with the goal of delivering up to 5,000 apartments per year by 2025. The company said its mission is to “help solve the U.S. housing crisis” by the construction of apartments in growing metro areas where many renters find themselves priced out by rising rents.

“We are excited to be expanding our footprint beyond Florida and entering the Georgia market, as the need for rental communities is on the rise across the country,” AHS Residential President and CEO Ernesto Lopes said. “At a time when America is facing the most severe housing shortage in generations, we remain committed to building quality apartments that are accessible to working professionals and middle-class families.”