SANDY SPRINGS, Ga. — Two companies with international footprints are working together to bring almost 400 new residential units to metro Atlanta.
Global real estate firm Kennedy Wilson has partnered with Shimizu Corporation to develop Caldwell, an approximately $139 million residential community in Sandy Springs.
The 382-unit Caldwell project represents Wilson’s first multifamily development in the state and its first partnership with Shimizu.
The project will redevelop a 6.9-acre site at 35 Glenlake Parkway NE that was previously occupied by a UPS office building into an apartment complex.
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Channel 2 Action News reported when UPS, based in Sandy Springs, moved about 500 workers from the building to consolidate its real estate footprint.
Wilson acquired the property in late 2025, and the process to demolish the office building started this summer.
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Once the residential community is complete, it will include 382 units and more than 17,500 square feet of indoor and outdoor amenities.
Located near major employment centers and transit corridors, the developers the community is designed to address housing demand in a submarket with limited recent residential construction.
Wilson executives noted that Sandy Springs has seen less multifamily supply growth compared to the broader Atlanta area in recent years.
John McCullough, president of the Multifamily Development Group at Wilson, discussed the location and strategic context.
“Our acquisition of Caldwell is an exciting milestone for Wilson as we expand our multifamily development platform in Georgia and establish our first partnership with Shimizu,” McCullough said. “Caldwell offers exceptional long-term fundamentals, driven by strong employment growth and an affluent resident base with limited new multifamily supply.
McCullough added that using the former office site would help maximize “the utility of the land and creating much-needed housing in one of Atlanta’s most desirable metros.”
Robert Miyajima, senior vice president at Wilson, commented on the relationship between Wilson and the Shimizu Corporation to build the Caldwell.
“We’re incredibly proud to begin our first partnership with Shimizu. What makes this venture especially meaningful is the friendship and trust we’ve built along the way and we’re honored to be their partner and steward of this investment,” Miyajima said. “We look forward to growing together for many years to come, both through this partnership and Wilson’s broader commitment to Japan.”
For Shimizu Corporation, the project represents an expansion into the American housing market. The corporation’s president outlined the firm’s perspective on the market.
“Caldwell represents an exciting opportunity for Shimizu to expand its presence in the U.S. and provide high-quality residential solutions,” Satoshi Arai, president of Shimizu Realty Development (U.S.A.), Inc., said. “We value this inaugural partnership with Wilson, leveraging their proven expertise in identifying and capitalizing on the potential of high-growth markets like Sandy Springs. By developing a high-quality residential community, we are creating meaningful value for the local community.”
The project is expected to welcome its first residents in 2028.
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