Development to feature 374 apartment homes, classroom space, and community park
Campus expansion to accommodate Oglethorpe’s enrollment growth
(Note: The project was later renamed Gables Brookhaven.)
(Atlanta, September 3, 2014) — Oglethorpe University and Gables Residential, Inc., a real estate development company headquartered in Atlanta, have partnered to construct Gables Oglethorpe, a mixed-use luxury apartment community at the corner of Peachtree Road and Hermance Drive in the city of Brookhaven. Gables Residential will lease approximately seven acres of land from the university via a long-term land lease agreement, and will construct, operate, and maintain the new mixed-use community. Gables Oglethorpe will offer a new, convenient luxury apartment option to those desiring to live near Buckhead, Midtown and the Perimeter center area.
Projected to be Earthcraft certified, Gables Oglethorpe is designed by Atlanta-based architects Rule Joy Trammell + Rubio and will reflect and complement the signature Gothic architecture of Oglethorpe’s historic campus, set to celebrate its 100th anniversary in 2015. Groundbreaking is estimated for summer 2014, with anticipated occupancy to begin August 2015. The community will combine apartment living for all with the unique niche of a community park and green space, state-of-the-art classrooms, secure parking, and desirable recreational amenities.
“Oglethorpe’s residence halls are near capacity and we are in need of additional space to accommodate our continued growth,” said Oglethorpe University President Lawrence Schall. “Our partnership with Gables Residential will allow us to fulfill that need as the new community will offer an alternative living choice for our students while shifting the financial risk away from the university.”
Oglethorpe has experienced significant growth during recent years, both in enrollment and through campus development. The university opened the $16M Turner Lynch Campus Center in 2013, and plans to further increase its current student population of 1100 to 1500 by 2020.
Joe Wilber, Senior Vice President- Investments East, for Gables Residential stated, “We are very excited to deliver a first class, vibrant community to the neighborhood that will complement Oglethorpe University. The opportunity to design, develop and manage a high-end community in Brookhaven is exciting for us as it follows on the heels of our newest mixed-use community, Gables Emory Point.”
Gables Oglethorpe will be comprised of two 4-story residential buildings offering 374 apartment homes, consisting of studios (7%), 1 and 2-bedrooms (88%), and 3-bedrooms (5%). Gables Oglethorpe will include 6,000 square feet of state-of-the-art classroom space, to be used by Oglethorpe University. New pedestrian pathways will offer secured, gated access for students between the Gables development and Oglethorpe’s main campus.
As Oglethorpe’s enrollment continues to grow, the goal is to ensure that the university is able to still offer a rich residential experience to all students. “Residential facilities have a profound, positive relationship to the recruitment and retention of students,” said Oglethorpe’s Dean of Students and Vice President for Campus Life Michelle Hall. “Students rank residential facilities as the most important destination to see on a campus visit and have the second highest impact, behind facilities in their academic major, on decisions to enroll.”
“This is an historic time for both Oglethorpe University and the Brookhaven area we’ve called home for almost 100 years,” said President Schall. “It’s not an overstatement to say that Oglethorpe has entered into an era of reinvigoration, innovation, and growth—and Gables Oglethorpe is the next step in that progress.”
For more information and updates, visit progress.oglethorpe.edu
About Oglethorpe University
Founded in 1835, Oglethorpe is Atlanta’s liberal arts and sciences university of 1100 students representing 34 states and 28 countries. Renowned for its groundbreaking core program, Oglethorpe is a member of the Annapolis Group, comprised of America’s most selective liberal arts institutions, and has been named among U.S. News & World Report’s Best Liberal Arts Colleges, Forbes’ America’s Best Colleges, and Princeton Review’s Best Southeastern Colleges. Oglethorpe is home to the Atlanta Laboratory for Learning (A_LAB), an incubator for students’ real-world experiential learning through civic engagement, global education, professional development, and undergraduate research. Oglethorpe is the only Georgia university to be named to the President’s Higher Education Community Service Honor Roll for commitment to and achievement in community service since 2006. In 2014, Oglethorpe opened GO: Rome, a summer study center in Italy, following two strategic partnerships in 2012 with study abroad provider Global LEAD and EF (Education First), the world leader in international education. EF’s Atlanta headquarters is located on Oglethorpe’s campus, also home to the OU Museum of Art and Georgia Shakespeare, a professional theatre-in-residence. The Oglethorpe Stormy Petrels compete in the NCAA Division III Southern Athletic Association. Website: www.oglethorpe.edu
About Gables Residential
Gables Residential is an award-winning, vertically integrated real estate company and privately held REIT specializing in the development, construction, ownership, acquisition, financing and management of multifamily and mixed-use communities. Gables manages approximately 35,000 apartment homes and 500,000 square feet of retail space in high growth markets throughout the United States, including Atlanta, Austin, Boston, Dallas, Denver, Houston, South Florida, Southern California and metropolitan Washington, D.C. The company has received national recognition for excellence in development, management, sales, marketing, training, benefits and corporate accommodations. These achievements reflect the impact of the company’s experienced and dedicated team members, superior knowledge of the markets served, and expertise in development and management.
Renee Vary Keele, Director, University Communications, 404-364-8868 or [email protected]
J. Todd Bennett, Executive Director, University Communications, 404-364-8329 or [email protected]
Gables Residential, Inc.
Gigi Giannoni, Vice President, Marketing, 404-923-5569 or [email protected]
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