Standard Communities has secured $47 million in financing for the development of a 219-unit Class A development in Savannah, Georgia. The Line community will consist of two buildings and feature a pool, sundeck, and fitness center.
"We are incredibly proud to play a part in the development of such a unique project and are excited to bring this distinctive, elevated living experience to Savannah," said Jeffrey Jaeger, Co-Founder and Principal of Standard Communities. "Thanks to the diligent work by our funding partners, The Line will fulfill a much-needed demand for multifamily rentals in this rapidly growing area."
There are a total of nine Opportunity Zones in Savannah; The Line project will be located in a census tract just a few blocks from the Savannah River.