$101M Roswell rentals replace shopping center, called roaring success

Josh Green

Mon, 06/30/2025 – 09:58

A vacant Roswell shopping center once home to the likes of Super Target, Marshalls, and Rack Room Shoes is now home to more than 150 people—and counting.

ECI Group and joint venture partner Phoenix Capital officially cut the ribbon recently on the $101-million Averly East Village infill project, part of a larger mix of uses in the 2600 block of Holcomb Bridge Road in East Roswell.

The 335-unit Averly project was 70 percent leased and 55 percent occupied at the time of its grand opening in late May, proving the need for multifamily housing in the growing North OTP suburb, according to the development team. (Roswell in 2022 enacted a ban on development of standalone apartment communities.)

Averly is located east of Ga. Highway 400 within Roswell city limits, about five miles southeast of Roswell’s historic downtown. The Gwinnett County line is just east of the site.

Courtesy of ECI Groups

Averly East Village’s location in the 2600 block of Holcomb Bridge Road, with Ga. Highway 400 shown at left. Google Maps

It’s one residential component of East Village, a shopping center replacement that also calls for 74 townhomes and 75,000 square feet of retail arranged around a public-accessible, central greenspace with a pavilion.

Retail offerings at East Village today include Five Guys, Zama Mexican Cuisine, Panda Express, and other businesses. The apartments mark ECI Development’s first Averly-branded homes to deliver, according to vice president Stephen Stover.

“The strong response from residents,” noted Stover in an announcement, “has validated our decision to build a heavily amenitized community with top-of-market apartment finishes.”

Courtesy of ECI Groups

Layout of Averly East Village at the former shopping center. Courtesy of ECI Groups

At the Averly, one-bedroom, one-bathroom apartments currently start at $1,742 monthly for 748 square feet.

The largest options—three bedrooms, two bathrooms, 1,397 square feet—are renting from $2,850 and up. Eight weeks of free rent are being offered with some units.

Apartment perks include high ceilings (at least nine feet, six inches tall), quartz countertops, and full-size washers and dryers in each unit. Amenities highlights include a rare outdoor gym, two outdoor kitchens, a pool deck with cabanas, a coffee lounge with WFH spaces, a dog spa, and a two-story fitness center inside.

Courtesy of ECI Groups

The Averly project follows another large-scale infill development in the North Fulton County city, Southern Post, that also replaced a strip mall, albeit with denser mixed uses.

In the gallery above, find more context and a closer look at an infill concept that could theoretically be replicated hundreds of times across the metro.

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