- Toro Development obtained $560M, including a $158M loan from Banco Inbursa, a Mexican bank, and an equity investment from U.S.-based Ascentris.
- The 43-acre development, expected to open in fall 2026, will include residential, retail, office, a hotel, and communal spaces.
- Led by Mark Toro, the developer behind Alpharetta’s Avalon, Medley aims to revitalize a former office park into a vibrant, walkable community hub for Johns Creek.
According to The Real Deal, Toro Development Company’s ambitious mixed-use project in Johns Creek, Medley, is on track to begin construction next month after securing $560M in funding.
Deal Details
A key component of this financing comes from a $158M construction loan from Banco Inbursa, based in Mexico City, and an undisclosed equity investment from Denver-based real estate private equity firm Ascentris.
The development will also benefit from a $13.4M tax incentive from Fulton County, further supporting the financial structure amid challenging market conditions.
Modern Mixed-Use
Medley, set on a 43-acre site at 16650 Johns Creek Parkway, will transform a former State Farm campus into a mixed-use urban center. The project includes a mix of residential and commercial spaces:
- Residential Units: 750 apartments and 133 townhomes.
- Retail and Office Space: 150 KSF of retail and dining options and 110 KSF of office space.
- Hospitality and Community Areas: A 175-room hotel and a 25 KSF public plaza.
“We’re turning a traditional office park into a walkable, urban oasis that serves as a community gathering place,” said Mark Toro, founder of Toro Development. Toro envisions Medley as a modern, mixed-use development that brings urban-style amenities to suburban Johns Creek.
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Track Record
Medley will mark another landmark project in the career of Mark Toro, known for pioneering upscale, experiential mixed-use developments like Alpharetta’s Avalon.
While Toro notes that Medley will differ from Avalon, it will incorporate some similar elements of community integration and diverse amenities.
Anticipated Timeline
Medley is expected to be completed by fall 2026. By revitalizing this former office park, Toro Development aims to attract residents and businesses to Johns Creek and contribute to the area’s growth as a desirable live-work-play destination.
