Spandrel Development Partners (Spandrel) today announced the name of its mixed use project in Savannah’s historic district. The Baxly, located at 630 Indian Street, is situated on 1.7 acres and is only a few steps away from Savannah’s picturesque and historic riverfront. Occupying an entire city block, The Baxly will have nearly 360,000 square feet of high quality residential and commercial space, including 275 luxurious multi-family rental apartments, 10,000 square feet of prime retail leasing space, 22,000 square feet of amenity space, indoor parking with car charging area, and more.
“It’s no secret that Savannah is a special place and we are excited that The Baxly’s residents and businesses will be able to call this city home,” Ian Levine, Spandrel’s co-founding principal said. “We are confident that The Baxly will help to meet the area’s growing demand for well-planned, quality development.”
The Baxly’s studio, one and two bedroom apartments will feature expansive views of the Savannah River, bridge and historic downtown. Residences boast elegant features such as nine foot ceilings, custom kitchen cabinetry, GE stainless steel kitchen appliances, designer bathroom finishes, granite kitchen and bathroom countertops, and washer and dryer. Most residences will also have private balconies and patios.
“We have spent a lot of time studying Savannah and the southeast,” explained Emanuel Neuman, Spandrel’s co-founding principal. “Savannah and the surrounding areas continue to experience growth and with that growth comes a demand for a unique development like The Baxly.”
The Baxly is already making its mark as it will be one of the first fully-amenitized, multi-family residential buildings built in Savannah since the 1960s. At seven stories high, The Baxley will be one of the largest buildings in the city’s historic district and house the city’s largest solar roof farm.
According to Levine and Neuman, The Baxly will have dedicated, onsite management and extensive amenities including The Baxly Club, which takes amenities to a whole new level.
The Baxly Club has a uniquely designed co-working space and media lounge, gourmet test kitchen, wine storage and tasting lounge, tool and craft shop, and fitness center adjacent to a 10,000 square-feet outdoor lounge with pool, fire pits and grills. Other amenities include a pet spa and recreational area as well as controlled bike storage and bike repair essentials.
Lee & Associates Charleston has been tapped to lease the retail space. The Baxly will be professionally managed by Greystar. For more information, visit www.thebaxlysavannah.com.
Earlier this month, the City of Savannah highlighted Spandrel’s mixed-use development as one of the top permitted construction projects for 2018, the second highest building permit year on record. The City of Savannah approved the 630 Indian Street construction project in early 2018.
ABOUT THE RENDERINGS: The renderings (see the We Transfer link below) showcase one of The Baxly’s apartment living areas, the outdoor pool, a shared workspace, and an aerial view of the property.
Click on the transfer link below for renderings of The Baxly:
ABOUT SPANDREL DEVELOPMENT PARTNERS: Spandrel Development Partners (Spandrel) is a multi-disciplined equity real estate development firm. Based upon its proprietary analysis, Spandrel pursues opportunities for conversion, capital improvement and ground-up development in targeted U.S. markets based on strong and thriving economic and demographic indicators. Currently focused on the multi-family, student, hospitality, industrial, and retail market segments, Spandrel leverages its principals’ decades of development and investment experience in the creation of long term value. For more information, go to www.spandreldevelopment.com.
ABOUT GREYSTAR: Greystar is a leading, fully integrated real estate company offering expertise in investment management, development, and property management of rental housing properties globally. Headquartered in Charleston, South Carolina, with offices throughout the United States, UK and Continental Europe, Latin America, and Asia-Pacific, Greystar operates in over 180 markets globally and is the largest operator of apartments in the United States, managing over 491,000 conventional units/beds. Greystar also has a robust institutional investment management platform dedicated to managing capital on behalf of a global network of institutional investors, with approximately $31.8 billion in gross assets under management including more than $11.9 billion of developments that have been completed or are underway -- $9.3 billion in the US and $2.5 billion internationally. Greystar was founded by Bob Faith in 1993 with the intent to become a provider of world-class service in the rental housing real estate business. To learn more about Greystar, visit www.Greystar.com.
ABOUT LEE & ASSOCIATES CHARLESTON:Lee & Associates Charleston is a comprehensive, commercial real estate firm advising clientele based on our extensive expertise in Retail, Office and Industrial real estate. We offer the most complete line of commercial real estate services in the Southeast with a focus along the coastlines of Georgia and the Carolinas from our Charleston, SC headquarters. Lee & Associates provides brokerage, development and property management with a firm commitment to customer service. In everything we do, Lee & Associates places “People First, Properties Second.” We get to know each client’s business and specific needs, and we meet those needs with discipline, integrity and a genuine commitment to success. Learn more about how Lee & Associates can serve your real estate needs at www.lee-charleston.com.
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