JPX Works'
Jarel Portman sent us the latest images of 280 Elizabeth, a
$46M project that has a green light. The development partnership—JPS Works (
Jarel and
Bruce Fernald) and South City Partners (which involves industry vets
Mark Randall, John Long, and
Charles Welch)—obtained
equity financing from ELV Associates, as well as construction debt from the Bank of North Georgia. The project will consist of
200 luxury apartment units and nearly
40k SF of retail space on a 3.3-acre site bounded by North Highland Avenue and Elizabeth Street in Inman Park.
We recently met up with Jarel and asked about the months it took to get to this point. "There were moments where you thinking
could this go South," he says. (CRE is like playing Jenga.) But he says he kept the Inman Park neighborhood association in the loop and even
solicited design ideas from neighbors. The partnership is even spending its own capital on a culvert that will increase rainwater runoff capacity on the site to prevent flooding during 100-year events.
We can now confidently say that the NSA is a loyal reader of Bisnow! Send your news to Jarred@Bisnow.com.
