Avanta Residential Reaches Financial Close for Homes at Riverstone in Canton, Georgia
September 25, 2022
Denver, Colorado – Avanta Residential today announced that the firm closed on 27 acres of land with the Riverstone master-planned community in Canton, Georgia to develop a built-to-rent community. The community, called Avendale at Riverstone, marks Avanta’s first project in Georgia.
The single-family rental community will consist of 278 one-, two-, three- and four-bedroom patio and townhomes. Community amenities will include a leasing center, clubhouse, and resort-style pool, and will offer green space, pocket parks, a yoga lawn and dog parks.
“With this acquisition, Avanta will expand its footprint into Georgia and continue to build our portfolio in the South,” said Terence Johnson, Senior Vice President of Development. “The location of Avendale at Riverstone is ideal, with its proximity to national retailers as well as major employers.”
Avendale at Riverstone is conveniently located 35 miles north of downtown Atlanta, between Atlanta and the Blue Ridge Mountains. Riverstone neighbors a commercial center containing a Publix Supermarket, Michaels, Home Depot and a Belk Deaprtment Store as well many restaurants including Red Lobster, Longhorn Steakhouse, Outback and many other food establishments.
Avanta plans to deliver homes at Avendale at Riverstone in 2023.
Avanta, a national leader in the build-for-rent industry, was formed in 2020 to respond to the demand for lower-density rental housing. Avanta was created from the deep experience of Hunt Companies Inc., a diversified, family-owned holding company responsible for completing more than $8.5 billion in real estate development and over 70,000 single-family rental homes across the United States, 50,000 of which are still owned and operated today. Avanta is committed to developing thoughtful, well-designed, amenity-rich homes for lease throughout the U.S. Avanta is active in Texas, Florida, Georgia, the Carolinas, and Colorado and is expanding its footprint. For more information, please visit www.avantaresidential.com.