Atlanta multifamily developer Wood Partners recently broke ground on apartment communities near Atlanta and Tampa under its new Altera brand.   

According to the company, Altera communities are affordably priced but provide upscale amenities thanks to cost savings achieved by building in suburban areas with efficient and consistent designs and minimal landscaping. 

Altera Union City will bring 320 apartments to 7105 Hall Road in Union City outside Atlanta. Amenities will include a resort-style pool, gym and yoga studio. Bennett Sands, managing director of Wood Partners’ Atlanta office, is the development lead for the project.  

Altera Land O’Lakes will bring 305 apartments in five four-story buildings and one three-story building to 18722 Grand Live Oak Blvd. in Land O’ Lakes, which is outside of Tampa. Amenities will include a leasing, fitness and clubhouse building, resort-style pool, sundeck, grilling areas, fire pits, outdoor gaming, dog park and pet wash. The project is expected to be completed by December 2025. Tyler Hurd, managing director of Wood Partners’ Tampa office, is the development lead. 

“There continues to be a shortage of reasonably priced rental options in this country,” Wood Partners Chairman and CEO Joe Keough said in a press release. “As a responsible member of the housing industry, we believe it is our obligation to offer a solution to this problem by creating a product that falls within our high standards of excellence at an attainable price. We look forward to expanding our Altera product offering across the country.”