May 25, 2022

ATLANTA, GA – Joint venture partners JPX Works and Zeller announced they have formed a partnership with Manulife Investment Management to develop a 326-unit apartment tower at 1405 Spring Street in Midtown Atlanta. The dynamic, 31-level tower will rise from a 0.54-acre site located at the southeast corner of Spring and 18th Streets in Midtown’s burgeoning norther arts district.

Midtown’s northern arts district is home to many of Atlanta’s most beloved arts and cultural institutions, including the Woodruff Arts Center, Museum of Design Atlanta (MODA), Savannah College of Art and Design (SCAD), Jewish Federation of Greater Atlanta and Center for Puppetry Arts. Interest in the district has been catalyzed by SCAD’s rapid expansion around 19th Street, the development of Midtown Union at 17th Street, the repositioning of Colony Square at 14th Street, the renovation of 1200 Peachtree, which VISA will soon call home, at 15th Street and Microsoft’s massive expansion at Atlantic Yards along the eastern edge of Atlantic Station.

“We are very pleased to partner and open a relationship with JPX Works and Zeller on this exciting project,” said Rob Maulden, Head of Real Estate Development at Manulife Investment Management. “The growth story in Midtown Atlanta is very compelling and we believe the neighborhood is entering a very robust new phase of urbanization. We look forward to being a part of the Midtown community for years to come.”

JPX Works and Zeller acquired the 1405 Spring site in November 2021 and after securing funding from Manulife Investment Management, released the general contractor, Brasfield & Gorrie, to commence construction this month. The project will be completed in July 2024. The 31-level tower will replace a vacant, single-level commercial building that most recently served as The John Marshall Law School’s Blackburn Conference Center. The new tower’s dynamic façade will incorporate a large-scale framework, defined by groupings of inboard balconies. The stacking and shifting terraces will present a vibrant architectural addition to the district as well as unique living experiences throughout the building. The tower’s base will directly engage the street-level and help facilitate a lively pedestrian experience surrounding the building.

“Over our 33 years, the Zeller team has partnered with exceptional teams that complement our own skill sets,” says Zeller’s Founder and Chairman, Paul Zeller, “The partnership with JPX Works is synergistic and complementary; we’re excited to have found another partner in Manulife that shares our passion for great design and strong investment performance. Our collective teams are committed to making each of our developments a growth catalyst for its immediate neighborhood.”

The 31-level, 326-unit building will offer studio, one-, two- and three-bedroom residences, as well as luxury penthouses. The building’s residential levels will sit atop a ground-level lobby, obscured 326-space parking garage and a full level of best-in-class amenities including multiple indoor lounge areas, flexible coworking spaces, a fitness center, yoga and meditation studio, pool, sundeck, and covered outdoor lounge with firepits. The building has also been designed to achieve a National Green Building Standard (NGBS) Green Certification and will include a number of integrated features aimed at increasing energy efficiency, reducing water usage and improving the indoor air quality for residents and staff.

Jarel Portman, Founding Principal of JPX Works, states, “We’re excited to start construction on what we believe will be another great addition to Atlanta’s rapidly expanding skyline. We’ve coalesced with two world-class partners who share our philosophy that Good Design is Good Business. We greatly appreciate the support and encouragement of our neighbors in Midtown. I’m incredibly proud of our team and thankful for everyone’s hard work to get us to this momentous point in the process.”

Manulife Investment Management develops and manages commercial real estate around the globe as part of its comprehensive private markets’ capabilities. As of  March 31, 2022, the real estate portfolio totals over 63 million square feet of office, industrial, retail, and multifamily space strategically located in markets across Canada, the U.S., and Asia Pacific. The group leverages its global platform and local expertise to provide market-leading solutions for its tenants and deliver results for its partners.

About JPX Works

JPX Works, LLC is a design-driven real estate development firm based in Atlanta, GA. Founded by Jarel Portman in 2011, JPX Works focuses on urban in-fill development and redevelopment opportunities. The individuals that make up JPX Works share a foundational belief that good design is good business and have a common vision for creating vibrant and inspiring places that positively impact our built environment. A key component of JPX Works’ investment strategy is to create value by unlocking the potential of well-located but constrained urban sites through ingenuity and collaboration with stakeholders. JPX Works’ most recent multifamiliy development in Midtown Atlanta is lilli Midtown, a dynamic 24-story multifamily tower built on a 0.31-ac site across from the Fox Theater that helped to reinvigorate the historic core of Midtown.

About Zeller

Zeller is a vertically integrated commercial real estate investment and development firm that has offered investors exceptional expertise, innovation, and insight to value for over 30 years. Zeller strategically selects properties for value creation, repositioning and reintroduction to their markets, while maximizing efficiency by providing a full spectrum of real estate services, including development, leasing, management, and construction. Headquartered in Chicago, Zeller owns and operates assets in Colorado, Georgia, Illinois, Indiana, Minneapolis, Ohio, Oregon, Texas, and Wisconsin and continues to grow and expand its holdings nationally. Since its formation, the company has delivered strong returns for its partners and co-investors by providing best-in-class service to enhance value. Currently, Zeller owns and operates a portfolio of nearly 9.8 million square feet valued at $2.7 billion. Zeller has been an active office investor in Atlanta, with three recent acquisitions totaling 1.35M square feet. Additionally, Zeller is currently co-developing a 242-unit multifamily tower in the Fulton Market district of Chicago. For more information, please visit: zeller.us

About Manulife Investment Management

Manulife Investment Management is the global brand for the global wealth and asset management segment of Manulife Financial Corporation. We draw on more than a century of financial stewardship and the full resources of our parent company to serve individuals, institutions, and retirement plan members worldwide. Headquartered in Toronto, our leading capabilities in public and private markets are strengthened by an investment footprint that spans 19 geographies. We complement these capabilities by providing access to a network of unaffiliated asset managers from around the world. We’re committed to investing responsibly across our businesses. We develop innovative global frameworks for sustainable investing, collaboratively engage with companies in our securities portfolios, and maintain a high standard of stewardship where we own and operate assets, and we believe in supporting financial well-being through our workplace retirement plans. Today, plan sponsors around the world rely on our retirement plan administration and investment expertise to help their employees plan for, save for, and live a better retirement. Not all offerings are available in all jurisdictions.  For additional information, please visit manulifeim.com.