Atlantic Cos. Secures $61M Debt Financing From SouthState Bank for Hillrose Market Mixed-Use Project

Why It Matters

The development transforms an idle civic site into high‑density housing and office inventory, boosting Roswell’s growth trajectory and signaling investor confidence in the suburban market.

Key Takeaways

• $61M loan fuels $140M mixed-use development.
• 143 luxury rentals and 16 brownstone townhomes planned.
• 75,000 sq ft commercial space across six buildings.
• Former police HQ repurposed for retail and office use.
• Major brokers Cushman & Wakefield, Bridger Properties involved.

Pulse Analysis

Adaptive reuse projects like Hillrose Market are reshaping suburban landscapes, turning former municipal facilities into vibrant, mixed‑use districts. In Roswell, the former police headquarters offers a unique anchor for a development that blends residential, retail, and office functions, catering to professionals seeking walkable neighborhoods outside major metros. This approach not only preserves existing structures but also accelerates project timelines by leveraging existing infrastructure.

Financing the $140 million venture required a substantial $61 million loan from SouthState Bank, underscoring lenders’ appetite for multifamily and office assets in growth corridors. The mix of 143 upscale apartments and 16 brownstone‑style townhomes addresses a regional shortage of premium rental units, while 75,000 sq ft of commercial space—split between office and retail—creates new employment hubs. By allocating 18,000 sq ft at 25 Hill St. and 11,000 sq ft in the former police building for offices, the project diversifies its revenue streams and mitigates vacancy risk.

Hillrose Market reflects broader trends of suburban densification and the demand for live‑work‑play environments. With Cushman & Wakefield and Bridger Properties steering leasing, the development is positioned to attract national tenants, enhancing Roswell’s economic profile. As developers increasingly target underutilized civic sites, projects like this signal a shift toward sustainable urbanism, where community amenities, green spaces, and mixed‑use design converge to meet evolving consumer preferences.

Deal Summary

Atlantic Cos. has begun work on the Hillrose Market mixed-use development in Roswell and secured a $61 million loan from SouthState Bank to fund the $140 million project. The 7-acre site will feature 143 luxury apartments, 16 townhomes, office and retail space, with New South Construction as general contractor and ASD | SKY as architect.