Toro Development Company (TDC) has successfully secured financing for its latest project, Medley. This 43-acre mixed-use community in Johns Creek is estimated to cost $560 million and is set to break ground in December of this year. The development is expected to be completed by late 2026.
The financing deal includes an equity investment from Ascentris and a construction loan of $158 million from Banco Inbursa for the first phase of the project.
Medley will be located at the intersection of McGinnis Ferry Road and Johns Creek Parkway. It will feature a variety of amenities, including 150,000 square feet of retail, restaurant, and entertainment space; a boutique hotel with 175 rooms; lifestyle office space spanning over 110,000 square feet; multifamily residences totaling up to750 units; townhomes numbering at133 units; as well as an activated Plaza measuring25 ,000 square feet.
In March 2024,TDC acquired the suburban office park where Medley will be built for $44 million. Since then,the company has demolished one existing building covering350 ,000squarefeetto make way for construction.Furthermore,TDC plans on renovating another existing office buildingand incorporating it into their master plan.This addition aims to create an attractive workplace that offers convenient commuting optionsfor employees.
Already,Meldeyhas attracted more than adozenretail tenants who have signed up with Toro Development Company.The company looks forwardto bringingthis exciting new ventureto fruitionin partnershipwith its investorsand tenants alike.
