Toro Development Company (TDC) has closed on the financing for Medley’s second phase, known as “Encore,” and added seven brands, bringing the total number of executed leases to 37, representing 78% of the project’s retail space and 82% of the office space. Encore will open in 2027.
Medley is located at the intersection of Johns Creek Parkway and McGinnis Ferry Road. At full build out, the project will encompass 145,000 square feet of retail and restaurant space designed around 881 rental units, featuring a mix of townhomes and apartments; a 150-key boutique hotel; 110,000 square feet of lifestyle office space; and a 25,000-square-foot Plaza that will be activated with up to 200 events per year.
Medley’s first phase, including the office space, 340 multifamily residences and 125,000 square feet of retail, will open by October. The hotel’s opening is slated for 2028.
TDC and its capital partner Ascentris closed on the $90 million construction loan for Encore earlier this month.
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