RangeWater starts $140M multifamily development

By Mary Salmonsen | Multifamily Dive

The Lawrenceville, Georgia, project includes 332 apartments and 156 rental homes and townhomes.

Atlanta-based multifamily developer RangeWater Real Estate has broken ground on a pair of rental developments on a 50-acre site in Lawrenceville, Georgia: The Mabry by Storia, a build-to-rent project with 156 single-family homes and townhomes, and The Margot, a multifamily community with 332 apartments. The $140 million development will be located approximately 30 miles northeast of Atlanta.

Both projects will be built by RangeWater Construction, a new construction division of RangeWater Real Estate launched in June. The Mabry is the latest project in RangeWater’s Storia build-to-rent brand and the company’s first build-to-rent project in Georgia’s Gwinnett County.

“Gwinnett is one of America’s fastest-growing counties and now one of the nation’s most diverse. We are excited to expand our footprint in the area and finally bring these projects to life in this dynamic and exciting county,” said Steven Shores, chairman and CEO of RangeWater, according to a press release.

Houses at The Mabry will range from 1,400 to 2,200 square feet with three to four bedrooms and private backyards or patios. Amenities include a pool, event lawn, dog park and walking trail around a pond.

The Margot’s one- and two-bedroom apartments will range from 750 to 1,153 square feet in size. Amenities will include a terraced English garden, native plant meadow, infinity pool, outdoor kitchen, event space and two dog parks.

In addition to The Mabry and The Margot, RangeWater Construction is currently overseeing the construction of 620 multifamily and single-family units across the country, valued together at $120 million. Another 800 units, valued at $140 million, are expected to break ground next year.

RangeWater expects to begin leasing at The Mabry in fall 2023 and The Margot in winter 2023.