“This was the first time the city purchased a piece of property for redevelopment. That was a big deal,” Stroud notes. “The city had been in the position to mostly react, and this was an opportunity to go on the defensive to prevent a long-term detriment in favor of a downtown redevelopment.”
The city’s goal for the 4.27-acre parcel was to increase walkability and connectivity and become Roswell’s go-to destination to live, work, and play.
Spring 2024 Opening
In 2019, the city chose Virginia Beach, Virginia-based Armada Hoffler and Atlanta-based S.J. Collins Enterprises, selling them the site for $5 million. S.J. Collins left the project in 2021, selling the remaining interest to Armada Hoffler, a REIT that invests in mixed-used properties primarily in the Mid-Atlantic and Southeastern United States.
The project is known as Southern Post, a $126 million amenity-filled, mixed-use development with 90,000 square feet of loft-style offices, 40,000 square feet of retail space, 128 luxury apartments and 10 townhomes, a sky lounge, a parking deck, green spaces, and gathering and common area plaza space.
“What brings us excitement is creating value,” says Shawn Tibbetts, Armada Hoffler’s president and COO. “We were able to take a site and re-engineer it to be what will now become one of the access points within the Roswell market, and we are thrilled with the outcome.”
Armada Hoffler broke ground in March 2020. Then the pandemic hit, stalling construction.
“COVID dampened our plans,” Tibbetts says. “We applied the brakes because we wanted to make sure we were conserving our capital. No one knew when the next shoe would drop. When we had the opportunity to restart the engine in early 2022, we took it and ran, and we’ll be delivering in a matter of weeks.” The project is expected to open in spring 2024.
Robust Leasing
Armada Hoffler has a strong track record of delivering vibrant, mixed-use communities that mesh work, lifestyle, and convenience—and tenants have taken notice.
Atlanta-based Vestis, a large provider of workplace uniforms and supplies, inked a 45,000-square-foot lease at Southern Post, while commercial interior construction firm CA South leased 7,400 square feet for a new headquarters. This is the first Class-A office space in the downtown Roswell area, Stroud says.
Southern Post’s office space is now 55% preleased. “From an office tenant standpoint, companies like to be in a place where there are amenities for their workers, including restaurants and shopping and where their employees can live in the adjacent apartments,” Tibbetts explains. “This really is a unique ecosystem.”
