[[{“value”:”
Toro Development Company (TDC) has secured construction financing for Encore, the second phase of its Medley mixed-use project in Johns Creek, and continues to build leasing momentum across the retail and office components. With seven additional brands recently committed, Medley now has 37 executed leases in place. Those agreements account for 78% of the planned retail space and 82% of the office space at the project.
Encore is scheduled to open in 2027 and represents the next step in the full build-out of Medley. The project is positioned at the intersection of Johns Creek Parkway and McGinnis Ferry Road, anchoring a larger mixed-use environment that blends retail, residential, hospitality, office, and programmed open space. TDC is advancing Medley in multiple phases, with the initial phase nearing completion and the follow-on phase now fully capitalized for construction.
At full build-out, Medley is planned to include 145,000 square feet of retail and restaurant space, organized around 881 rental units. The residential component will offer a mix of townhomes and apartments. The plan also calls for a 150-key boutique hotel and 110,000 square feet of lifestyle office space, creating a walkable setting that integrates commercial and residential uses.
The project’s master plan features a 25,000-square-foot Plaza designed as a central gathering space. This Plaza is expected to host up to 200 events per year, supporting year-round activation and providing a focal point for both residents and visitors. The combination of programmed open space with a mix of uses is intended to establish Medley as a destination within its local trade area.
Medley’s first phase, which includes the lifestyle office space, 340 multifamily residences and 125,000 square feet of retail, is on track to open by October. This initial phase will deliver a substantial portion of the project’s retail and residential program before Encore comes online, allowing the development to begin establishing tenancy and customer traffic ahead of the later stages.
The hotel component is planned to follow the completion of the early phases of Medley. According to the current timeline, the 150-key boutique hotel is scheduled to open in 2028, further rounding out the project’s mix of uses and adding an additional demand driver for the surrounding retail and dining offerings.
TDC and its capital partner Ascentris recently closed on a $90 million construction loan for Encore. The financing was completed earlier this month, providing the capital necessary to move the second phase into active construction. While the lender and specific loan terms were not disclosed, the new facility represents a significant commitment of capital to advance the broader Medley plan and follows substantial preleasing activity across the property’s retail and office components.
The post Toro Development Company Secures Financing for Medley Encore Phase in Johns Creek appeared first on CRE Market Beat.
“}]]
