Redevelopment of underused office properties into housing is creating new construction opportunities in established metropolitan areas. In Sandy Springs, Georgia, New South Construction has been selected to build a 382-unit multifamily development on a former UPS office site.
Known as Caldwell, the project is planned for 35 Glenlake Parkway Northeast on approximately 6.9 acres. Kennedy Wilson is developing the community in partnership with Shimizu Corporation, while New South Construction will serve as general contractor.
The approximately $139 million development is planned to include 382 rental apartments and more than 17,500 square feet of indoor and outdoor amenities.
The project will replace an aging office building that was previously occupied by UPS. Kennedy Wilson acquired the property in December 2025 for slightly less than $16.5 million.
The development represents Kennedy Wilson's first ground-up multifamily project in Georgia and its first partnership with Shimizu Corporation.
Construction is expected to be completed in time for residents to begin moving into the community in 2028.
The project illustrates the continued repositioning of underused commercial properties for residential development. For construction teams, these conversions and redevelopments can involve demolition, site preparation, new building construction and the delivery of extensive residential amenity spaces.
The Caldwell development provides a sizable multifamily construction program in the Atlanta-area market while putting an underused office property toward residential use. For owners and contractors, the project highlights the role of redevelopment sites in adding housing capacity within established suburban locations.
Source: New South Construction.
