Toll Brothers Forms Venture to Develop Luxury Apartments Near Atlanta

Toll Brothers, one of the largest homebuilders in the United States, has formed a joint venture and secured nancing to construct a new luxury apartment complex near Atlanta.

The Philadelphia-area company said it has joined with JD Capital USA, which has ties to a Chinese private equity rm, to develop Motto, a 290-unit apartment complex in the Scottdale area near Decatur, Georgia. Motto would be part of a larger mixed-use project that includes a Publix supermarket and other service-oriented businesses.

The joint venture has secured a $45.7 million construction loan from Santander Bank for the development, Toll Brothers said. Toll Brothers spokesman John Piedrahita said the company plans to start construction this fall and have the rst residents at Motto move in during the spring of 2022.

The project is in a portion of DeKalb County, Georgia, just outside of the city of Decatur and near Avondale Estates that has started to attract apartment developers after Decatur put limitations on what could be built there.

"More developers may look to adjacent neighborhoods due to Decatur’s recently implemented inclusionary zoning ordinance, much like what we saw with the Eastside BeltLine when that