Hathaway Announces New Apartment Development in Foley, AL

Atlanta, GA (October 2022) — Hathaway and its strategic equity partners Lynx Capital, LLC and Marble Capital LP recently closed a transaction to acquire 24 acres to do ground-up construction on a 264-unit class "A" garden-style apartment community in Foley, AL.

The Project is located in the highly desirable Baldwin County, a suburban area of Mobile on the east side of Mobile Bay. Baldwin County is the fastest-growing county in Alabama, with projected 1.1% annual population growth over the next five years —significantly above the national average (0.5% annually). The project is set to break ground immediately and is planned to be fully constructed in the 3rd quarter of 2025.

The project will be named Exchange at Foley Apartments and is planned to begin leasing in the 3rd quarter of 2024. The multifamily community will offer 1, 2- and 3-bedroom floor plans featuring granite counter tops in kitchens and bathrooms, 9-foot ceilings, oversized walk-in closets, and spacious balconies/patios. Amenities include a Clubhouse, state-of-the-art fitness center, electric car charging stations, 24/7 package concierge lockers, dog wash/park, valet trash service, outdoor grilling area, and a resort-style swimming pool.

Hathaway is headquartered in Atlanta, GA, and operates in multiple primary, secondary, and tertiary markets across the country. Since its inception, Hathaway has developed, acquired, and/or built over 15,000 multifamily units in 9 states, totaling over $1 billion in asset creation for its investors and clients. By focusing on a variety of markets, Hathaway has positioned itself to appeal to a wider range of investors while working through inevitable, challenging market changes. Hathaway's primary objective is to provide the highest yield to its investors, while focusing on the desires and expectations of its residents in each community.