Tuesday, November 5, 2019
News 12 at 5 and 6 o'clock
A brand new $53 million apartment complex is coming to the Village at Riverwatch. (Source: Augusta Planning and Development)
AUGUSTA, GA (WRDW/WAGT) -- The growth just keeps coming off Riverwatch Pkwy. Now, a brand new luxury apartment complex is coming to the Village at Riverwatch.
The Sterling Group, based out of Indiana, says the 296-unit complex will go between the new Topgolf and the Residence at Riverwatch. It will be called Rivershoals Apartments.
The complex will be similar in style and price to other luxury apartments in the area, like Ironwood and Grand Oaks at Crane Creek. A representative from The Sterling Group told News 12 the one-, two-, and three-bedroom units will cost between $1,090 to $1,625 per month. Amenities will include a clubhouse, pool, fire pits, and fountains.
The project will cost a total of $52 million. Holton Brinson, an associate broker with Jordan Trotter Commercial Real Estate says it's a major project in an area with lots of development already.
"Just at the Village at Riverwatch, I think we just hit $150 million in investment in just 30 months. So yeah, this is a big project," he said.
Brinson says as the job market grows in Augusta, so does the demand for luxury apartments.
"To be able to pay $1,200 a month for a one-bedroom place, you've got to be able to make a good bit of money. So, those new jobs, the expansion of cyber in Augusta, and the growth of the school is contributing," he said.
The decision to rent is one seen all over the country. In fact, according to a study by the Pew Research Center, more people are renting homes now than at any point in the past 50 years.
"It's for reasons as simple as they don't want to keep up with the lawn and you know, to have fewer responsibilities," said Brinson.
It doesn't seem like these luxury apartments will stop popping up in Augusta any time soon.
"We constantly get calls from different apartment groups looking for tracts of land," said Brinson.
The Sterling Group says they plan to open Rivershoals Apartments in August 2021.
Topgolf, Dave and Busters, Guitar Center and a new animal hospital will also be coming to the Village at Riverwatch soon. Plus, a Dollar Tree location just opened up there two weeks ago.
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