Mason Augusta, an apartment complex that recently opened near the Augusta National Golf Club in Georgia, added a large chunk of new homes to an area that is seeing increased demand for rental housing.
The three-story complex at 101 Pine Forest Road, built in 2022 by Waypoint Residential, has 288 units across 27 acres. Mason Augusta filled a need on the multifamily front, and that helped earn it the 2023 CoStar Impact Award for multifamily development of the year in the Augusta-Richmond County, Georgia, market.
"The opportunity to construct this community was a direct result of the expanding economic growth in the area that is fueled by increasing tourism," the developer said in its nomination for the award.
The developer added that "this community brings a fresh supply of housing to support those seeking temporary or longer-term leasing arrangements with modern appointments and amenities at a materially lower cost to home ownership alternatives."
The property is located in a popular part of Augusta and close to an array of restaurants and other local attractions, including the Augusta National Golf Club, and it is proximate to the Fort Gordon U.S. Army Base.
About the project: Mason Augusta’s design and architecture created a contemporary living style in an apartment complex with modern amenities.
What the judges said: The development was built even as "the multifamily industry faced uncertainty with the lingering effects of the pandemic, and supply chain, along with economic uncertainty," Dedrick Josey of Coldwell Banker KPDD said.
They made it happen: Scott Lawlor, founder, CEO and chief investment officer, Waypoint Residential.