Near East Lake Golf Club, mixed-use Ella project debuts

More than 200 rentals and retail are delivering near Publix, Drew Charter School

Leasing efforts are underway at a mixed-use project that continues a surge of new living options in a pocket of DeKalb County that’s lagged other eastside areas in terms of growth.

Situated between East Atlanta and the storied East Lake Golf Club, Perennial Properties’ Ella is the largest of a handful of residential projects to crop up near the Glenwood Avenue corridor. The property had been a vacant lot for well over a decade.

According to plans obtained last year, Ella is bringing 230 apartments, 10,000 square feet of retail, and office space to 2201 Glenwood Avenue, as designed by Dynamik Design architects.

Ella’s apartments range from studios up to a unique seven-bedroom option (yes, seven). Four retail spaces have been slotted in next to the Publix at East Lake.

The Ella project’s location just south of Charlie Yates Golf Course and Drew Charter School campuses, with East Lake Golf Club at right. It joins a growth spurt of other mixed-use and single-family home ventures in the area. 

Communal amenities include a pool with sun shelf, media wall with outdoor TVs, a game room, a rec area with cornhole, a clubhouse with a bar near the pool, and a requisite pet spa, among other features.

The apartments include quartz countertops, keyless entry, stainless-steel appliances, vinyl floors described as “luxury,” and carpeting called “plush.”

How the East Lake site looked prior to construction, five years ago.

The community’s entrance near the East Lake Publix.

Rents at Ella begin at $1,405 monthly for pint-sized studios with 464 square feet. One-bedroom options begin at $1,605 monthly, and two-bedrooms at $2,215.

The seven-bedroom, Real World-esque co-living space has more than 3,200 square feet across two levels. As with the three-bedroom options, the co-living space isn’t listed as being available yet.

Like the Publix next door, another perk of the location is quick proximity (walkability?) to two golf courses, including the Charlie Yates links across the street.

The Ella lobby.

Where four retail spaces are available near the Publix parking lot at Ella. Perennial Properties

The activity continues a push by developers and homebuilders southeast of Atlanta into DeKalb County, just beyond the neighborhood limits of East Atlanta, Kirkwood, Gresham Park, and East Lake, among other communities.

Immediately south of Ella, Columbia Ventures has built 108 affordable and market-rate townhomes, garden apartments, and villas in a project called Gardenside at The Villages of East Lake along Fayetteville Road.

Developed in conjunction with Purpose Built Communities, that gated complex includes a playground and priority placement at Drew Charter School for residents with K-12 children. Options range from one to three-bedroom residences, per Columbia Ventures.

Just south of both sites, Urban Craft Homes built and sold out a community of 35 single-family homes called The Forest at East Lake, also along Fayetteville Road. Situated beside a creek on 10 acres, those houses were priced from the low $400,000s.

All of the above could seem like small potatoes if Perennial Properties’ plans to transform 12 acres of grassy fields into a mixed community with nearly 300 apartments and townhomes come to fruition nearby.

Called the Bag Factory, that project is planned along 2nd Avenue, about two blocks south of East Lake Golf Club’s Hole 4. The site has been empty for decades, developers have previously said.

JUNE 16, 2022, 9:24AM

By JOSH GREEN

Urbanize Atlanta

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THE NEW FRONTIER: As Midtown sees record levels of development, the next wave of towers will rise on unconventional sites.

The first land sale Cushman & Wakefield Managing Director Matt Hawkins brokered in Midtown fetched around $35 a square foot. This was in the mid-’90s. The buyer, the now-President and CEO of Novare Group Jim Borders, paid $6 million for around four acres on Peachtree Street.

In December of last year, a private equity giant broke the city’s record price paid per land square foot for a site just down the street from Hawkins’ first sale. The buyer paid $555 per square foot for three-quarters of an acre. In 2018, that same plot of land sold for $138 per square foot.

Within the last half-decade, growth throughout Midtown has transformed the district’s real estate into one of the most valuable commodities in the city. Land values are soaring, and brokers like Hawkins are seeing double the amount of offers on sites within the 1.2-mile district. But real estate opportunities aren’t running out any time soon.

As the development momentum continues, investors are having to approach site selection with an eye for creativity. Sites once considered undesirable to build ambitious projects are now crown jewels in the increasingly site-constrained Midtown core.

“There’s no such thing as built out when you’re talking about any city,” said Kevin Green, the President and CEO of Midtown Alliance, the district’s planning and development coalition. “The sites get more challenging. Maybe some existing structures that you get used to cease to exist. But it’s going to continue to change.”

Take the underused lot next to the century-old St. Mark United Methodist Church, where StreetLights Residential is building a 26-story apartment tower. Or a U.S. Post Office at West Peachtree Street worth $25 million where Rockefeller plans to build a 61-story mixed-use tower. The definition of a “prime site” has changed. Almost anything is fair game.

Where conversations over the redevelopment of unconventional sites intensifies, however, is when the potential demolition or densification of neighborhood landmarks is brought into question. Projects have yet to move forward on the largely-underused parking spaces at The Varsity or the sprawling acres on WSB-TV’s campus at West Peachtree Street, but it’s only a matter of time before the development wave leads to increased interest.

A 26-story apartment tower is rising on top of a once-vacant lot next to the century-old St. Mark United Methodist Church.

A 26-story apartment tower is rising on top of a once-vacant lot next to the century-old St. Mark United Methodist Church.

Surging demand

 

Parking lots, along with seas of broken glass and vice after dark, is what Green remembers of Midtown in the aftermath of the 1996 Olympics. There were MARTA stations within every quarter mile block off of Peachtree Street and a few office towers with “a real pioneer spirit,” but the 1.2-mile core didn’t have much fat on its bones.

The Midtown of today is a completely different beast.

“People might say [the market] has been saturated and is now fully mature,” said Sebastian Drapac of Drapac Capital Partners, which sold Midtown’s record-breaking parcel of land in December. “For me, it’s like it’s still the second quarter.”

Since 1997, over 100 new office, residential, hotel and institutional buildings sprouted from the ground. Residential units have doubled, commercial property tax digest has more than tripled and institutional capital has poured in. New national names like Rockefeller are shimmying up to the city’s longtime development strongholds.

The momentum hasn’t slowed. In 2021 alone, 1.8 million square feet of office space and 645 residential units were delivered in Midtown.

Rising land values in the district indicate a surging demand and constraining supply, a dynamic playing out in gateway markets like New York, San Francisco or Los Angeles. This is partially true in Atlanta — pure dirt is sparse. Roughly 15-20% of the district is ripe for redevelopment, planning coalition Midtown Alliance estimates.

Some of this accounts for vacant parcels locked away by entrepreneurial landowners. Dewberry Capital Corporation — led by “Atlanta’s emperor of empty lots,” as Bloomberg once put it, John Dewberry — controls several undeveloped commercial sites, including 7.42 acres at along the east side of West Peachtree Street and 1.70 acres at along the east side of Peachtree Street between Beverly Road and Peachtree Circle.

Another chunk of the percentage for Midtown’s large swaths of parking infrastructure. There are roughly 5,000 spaces spread across three parking garages on the West Peachtree Street Northwest, 4,160 spaces across three garages on Peachtree Street Northwest and 3,120 across three garages on Peachtree Street Northeast, as examples.

Surface parking lots stretch across the Midtown core, some of which have been successfully redeveloped. Noble Investment Group, as an example, brought a new Marriott Courtyard-Element hotel to a public parking lot at 640 Peachtree Street. Noble negotiated with the parking operators who owned the site to build the project on top of a publicly-accessible five-story parking deck. All parties won: Noble built their hotel, the parking operators kept their revenue stream and a concrete open space on Peachtree transformed into a high-density tower.

Few surface lots are too small to build on. Developers in Drapac’s home city of Melbourne, Australia, are building structures on quarters of an acre.

“Beggars can’t be choosers,” Drapac said.

The trend of building more ambitiously on smaller sites is slowly catching wind in Atlanta. In 2018, Atlanta developer JPX Works redeveloped a 0.31-acre eyesore of an empty lot at Peachtree Street into a 147-unit, 25-story apartment tower.

Vertically redeveloping parking structures helps to thwart razing over neighborhood landmarks to build anew. But it’s not an outcome the city can completely avoid.

Two Midtown restaurants on Juniper Street — Einstein’s and the neighboring Joe’s on Juniper — were razed in late 2021 after Charleston-based developer Middle Street Partners bought the property to build two 38 and 30-story apartment towers. Both restaurants were stalwarts within the LGBTQ community for decades. American drag queen icon RuPaul lived next door to the property during the ’90s.

The possibility of losing “sacred” landmarks like the Fox Theatre is out of the question, said Karl Smith-Davids, Senior Project Manager for Midtown Alliance.

But shaving off available land on some of these properties is not unfathomable. Construction unraveling on underused concrete at St. Mark United Methodist is an example of this, as are similar redevelopment projects going on at Big Bethel AME Church in Sweet Auburn and Atlanta First United Methodist Church at Peachtree Street.

Mayor Andre Dickens is championing the redevelopment of church-owned land. Early into his first 100 days, he announced the creation of a grant to assist faith-based organizations with building affordable housing on their properties.

Cities cannot run out of room

 

All development inevitably comes with a tradeoff. Low-rise office buildings or stalwart parking structures of yesteryear will inevitably come down to satisfy the needs of a growing market. Apartments are primarily leading this charge, as the number of residents in the center of Midtown have doubled within the last decade.

But Green’s idea of success in Midtown is not every square “getting developed with concrete, glass and steel,” he said. It’s creating an environment where open public spaces for people to gather and come together can coexist with corridors dense with development.

“That’s among our opportunities and challenges. How do you do that with a place that’s as hot of a market as Midtown? Because we’re not just looking at what Midtown needs to be successful for the next five years, but what does it need to be successful for the next 50?” Green said.

By  –  Reporter, Atlanta Business Chronicle
Updated

First look: Mixed-use community planned for sprawling eastside field

Proposal would blend townhomes, retail, apartments at site near East Lake Golf Club

Another major development is in the works within a circa-1997 Tiger Woods’ drive of one of metro Atlanta’s most storied golf courses.

Roughly two blocks south of East Lake Golf Club’s Hole 4, Perennial Properties is seeking to rezone a large grassy field into a classification that would allow for nearly 300 new residences and other uses set around a new public greenspace in unincorporated DeKalb County.

Situated along 2nd and Alexander avenues, across the street from Donald Trimble Mortuary, the three parcels in question are collectively known as the Bag Factory Site. The land, spanning about 11.7 acres, has been empty for decades, according to developers.

Location of the 2nd Avenue properties in relation to downtown Atlanta and East Lake Golf Club.

The developer is seeking to downzone the site to multifamily residential (MR-2) from its current commercial and industrial designations. Perennial hosted three community meetings about the project in February.

The proposed Bag Factory development would include 237 apartments in two four-story buildings, 44 rental townhomes (two stories atop garages), and two street-level retail slots with about 5,000 square feet of space.

A public-accessible village green with a central pavilion would act as the heart of the community, spanning about 32,000 square feet.

Glenwood Avenue—where Perennial is building another mixed-use venture next to a Publix—is located about a quarter mile to the north. Options for pedestrian access between the Bag Factory development and Publix are being explored, per the development team.

The Bag Factory’s apartments would all be market-rate, with none reserved as affordable housing. In a rezoning application, developers did point out that only about 30 percent of rentals would be two or three-bedroom apartments, with the others intended to be more affordable, smaller units—either studios or one-bedrooms.

“While the proposed development will not have a lot of units to accommodate large families,” wrote Perennial’s legal reps, “it will provide housing opportunities for young professionals and empty-nesters.”

Any timeline for construction isn’t clear. An inquiry to Harold Buckley, at attorney representing the project, hadn’t been returned as of press time.

Around the corner on Glenwood Avenue, next to the Publix entrance, Perennial is developing a four-building, mixed-use project called simply East Lake.

That venture, also designed by the Dynamik Design firm, includes 230 apartments and 10,000 square feet of retail, in addition to office space.

Immediately south of that construction site, Columbia Ventures and Purpose Built Communities recently developed 108 affordable and market-rate townhomes, garden apartments, and villas in a project called Gardenside at The Villages of East Lake along Fayetteville Road.

The gated complex includes a playground and priority placement at Drew Charter School for residents with K-12 children.

Founded in 1988, Perennial has developed and operated more than 20 sites around Atlanta, per the company’s rezoning application.

 

By Josh Green

Urbanize Atlanta

APRIL 06, 2022

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Remember Atlanta’s ‘Midtown Mile?’ An anchor of it just sold for a record price.

A Florida-based company has purchased a Midtown retail center on Peachtree Street Northeast for a record price.

A Florida-based company has purchased a Midtown retail center on Peachtree Street Northeast for a record price.

A real estate investment firm just paid the highest price in years for a single Midtown retail center.

East Coast Acquisitions, a Florida-based real estate investment firm, has purchased street-level retail and a parking garage at 1010 Midtown along Peachtree Street Northeast for $38 million.

Anchored by Sugar Factory and Piedmont Healthcare, the development also includes Better Homes and Gardens Real Estate, Chipotle, Panera Bread, RA Sushi Bar, Sage Dental, Silverlake Ramen and Sweathouz.

The deal represents the highest standalone transaction for Midtown retail space in about a decade, said David Kahn, Southeast director of market analytics at commercial real estate research firm CoStar Group.

The center sold far above the average 12-month sales price of $5.7 million for Midtown retail sites, according to CoStar. The property sold for $15 million in 2013, according to the research firm.

The 44,302 square feet of street-level retail sits at the base of a 425-unit luxury condo building. The tower, which stands over 11th and 12th streets, was not included in the sale. The retail portion of the development, completed in 2008, is 94% leased.

More than a decade ago, the original owners of 1010 Midtown marketed the project as an anchor of the “Midtown Mile,” a retail corridor along a stretch of Peachtree Street intended to become Atlanta’s version of the Magnificent Mile in Chicago.

It makes sense for the retail center to trade at a premium, given the area’s strong demographics and tenant roster, Kahn said. More than 216,000 people visit the 2-mile radius around the property each day, according to JLL.

Most of Midtown’s retail and parking income used to be generated by its daytime office population, but that’s no longer the case, said Chris Wild, principal at East Coast Acquisitions, in an email. “… Midtown has transitioned into a live, work, play environment, increasing the productivity cycle for both retail and parking,” he said.

Wild added that several new developments will soon replace surface parking lots in the area, which will steer drivers to the onsite garage acquired by his company.

The transaction comes at a time when companies offering high-paying jobs open new offices in the area, bumping up the demand for retail space as new residents move to the area. The submarket is experiencing a 1.7% retail vacancy rate, lower than at any other time in the past decade.

Compared with other parts of metro Atlanta, Midtown has few contiguous retail spaces, Kahn said. “It’s very difficult to build new retail there, so existing properties are pretty valuable,” he said.

 

By  –  Reporter, Atlanta Business Chronicle
Updated

Affordability initiative to protect historic Midtown apartment building

Renovation of Winnwood Apartments, a Georgian Revival-style landmark from 1931, to include more housing, micro units

A restoration project in Midtown’s northern blocks is aiming to be a win-win for both historic preservation and affordable housing in a prominent Atlanta location.

Built in 1931, the Winnwood Apartments have been the subject of redevelopment talks for more than two years. The two-story brick structure at 1460 West Peachtree Street —built in a Georgian Revival-style by the once-prominent Atlanta firm H.W. Nicholes and Sons—reflects popular residential architecture from the early to mid-20th century.

According to preservation organization Easements Atlanta, it’s one of the last examples of this architecture style left standing in the city.

The Winnwood Apartments’ West Peachtree Street entry and courtyard today, prior to full renovations. Photography by Above Visuals; courtesy of GBX Group, Urban Landings

GBX Group has partnered with Easements Atlanta, along with developer Urban Landings, to refurbish and reconfigure the 90-year-old property into roughly 50 units—all micro apartments and one-bedrooms.

Previously, Winnwood Apartments were all two or three-bedrooms units, officials tell Urbanize Atlanta.

“This project won’t have a dedicated affordable component, per se,” Urban Landings cofounder Bobby Gibson wrote via email. “Instead, it will attempt to tackle affordability by building efficient spaces with A Class finishes at a discount to new A Class developments.”

Photography by Above Visuals; courtesy of GBX Group, Urban Landings

Atlanta development wonks may recall the landmark building and surrounding property were once controlled by Tenth Street Ventures. When four of that company’s managing partners split off to form Urban Landings in 2021, the Winnwood Apartments transferred with them, Gibson said.

Urban Landings succeed in earning a spot for the property on the National Register of Historic Places last year. That enabled developers to access historic tax credits that are helping to make the project financially viable, officials said.

The redevelopment team expects to wrap construction on Winnwood Apartments in the fourth quarter of this year. Cameron Pimm, Urban Landings chief operating officer, said it’s too early at this point to say what rents might be.

The goal, said Pimm, is to provide “quality housing at an achievable price point for the ever-expanding workforce.”

The building in the context of northern Midtown, as seen two years ago. City Realty Advisors

Winnwood’s new ownership group also donated a façade easement to Easements Atlanta. According to project leaders, that move will ensure the complex’s exterior design is permanently protected while making the project eligible for more tax incentives.

Ian Michael Rogers, Easements Atlanta’s president, said the Midtown apartments help “offer a deep connection to our city’s story” in a recent announcement. Drew Sparacia, CBX’s CEO, added that today’s real estate climate favors demolition and new construction, but that chasing quick dollars could pay fewer dividends in the long run.

“Those buildings, many with rich architecture and ties to their local communities, offer untold economic and socioeconomic potential for all community stakeholders if rehabbed correctly,” said Sparacia. “We’ve seen it time and time again across the country. And we’re confident that we’ll see it with this [Midtown] project.”

The building’s Georgian Revival-style facade and courtyard today.Photography by Above Visuals; courtesy of GBX Group, Urban Landings

JANUARY 27, 2022, 2:15PM

By JOSH GREEN

Urbanize Atlanta

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Piedmont Avenue SPI-17 District Proposed Code Amendments Seek to Create Consistency with other SPI Districts

Atlanta is working with Midtown Alliance and the Midtown Neighbors Association to create a more user-friendly ordinance.

 

The City of Atlanta has collaborated with the Midtown Alliance and the Midtown Neighbors Association (MNA) to identify critical revisions to the zoning code to regulate orderly growth in the Piedmont Avenue SPI-17 District into the future. The proposed regulations aim to simplify, clarify, and make this district more consistent with other SPI districts. The only changes proposed are text changes and not changes to the zoning map; therefore, no properties are proposed to be rezoned.

The Zoning Review Board is scheduled to hold a public hearing on March 3, 2022, or March 10, 2022. The text amendments they will be reviewing include:

  • Providing procedures consistent with other SPI districts.
  • Reformatting and updating text into tables including allowed uses, allowed heights, open space, streetscaping elements. Also, pedestrian and vehicular accessibility are clarified, including parking counts and the building’s active use depths and fenestration (windows).
  • Updating specific design criteria, including prohibiting EIFS, tree grates, arcades, overzealous tree installation, and further regulating criteria for curb-cuts and parking decks. This is intended for better compatibility to the Midtown Garden residential area to the east and greater consistency with the City’s transportation plans.

The Piedmont Avenue Special Public Interest District is divided into four (4) subareas and include Subarea 1: 14th and Piedmont; Subarea 2: Piedmont North; Subarea 3: 10th; and Piedmont. Subarea 4: Piedmont South.

According to City documents, the updated SPI-17 code will reinforce Piedmont Avenue’s strengths, including creating a walkable neighborhood with a balance of low and medium density uses. The district will continue to transition between the high mixed-use densities in the SPI-16 district to the west and lower residential densities in the Midtown Garden residential area to the east. New development will have similar landscape and streetscape design requirements to be compatible with the existing environment along Piedmont Street. In addition, the encroachment of incompatible dense commercial uses and parking into the residential neighborhood will continue to be restricted.

Post by Anita Archambeau

Whatnow Atlanta

January 27th, 2022

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Private equity giant Northland pays near record price for prime Midtown development site

Midtown skyline.

Midtown skyline.

A private equity giant has paid a near record price for a prime development site in Midtown.

Northland Investment Corp. bought just under an acre at Spring Street and 17th for a whopping $19 million, or about $555 per land square square foot, according to Fulton County property deeds. It was sold by an affiliate of Drapac Capital Partners, an Australian real estate firm with a big footprint across Atlanta.

The all-cash deal closed on Dec. 22, according to Fulton County property records.

Four years ago, Drapac had paid just $4.7 million for the site, but a construction boom across Midtown since then has eroded the supply of development sites. It has left buyers forced with paying a premium for the top opportunities.

The site Northland purchased sits in the middle of several mixed-use projects and apartment towers either planned or underway. Next door is the site of a proposed 31-story apartment tower at 1405 Spring Street that JPX Works and Zeller Real Estate will develop. For comparison, JPX paid around $459 per land square foot for their half-acre site. Farther south, the Rockefeller Group paid $500 per land square foot for 1.1 acres at West Peachtree and 12th Street.

Northland primarily develops apartment and mixed-use properties. The firm owns several apartment projects across Atlanta, including The Sutton high-rises in Buckhead Village.

In Midtown, Northland is expanding in one of the top real estate markets in the Sunbelt. Nearby, Microsoft Corp. (Nasdaq: MSFT) is opening its Atlantic Yards cloud computing and artificial intelligence office. It will bring 1,500 jobs. Also nearby is a new office tower anchored by Google.

By  –  Reporter, Atlanta Business Chronicle

Site Construction Plans Filed for the West Midtown Mixed-Use Office Tower

Utilities, grading, and the construction of the parking deck are listed as the future improvements slated to begin in March.

Developer Sterling Interest LLC, with application assistance by Josh Reynolds of Kimley-Horn, is moving forward in developing a 1.25-acre site in West Midtown according to civil construction drawings and land disturbance permit application documents filed with the City last month.

In April, as reported by What Now Atlanta, the Chicago-based company will redevelop the property at 1050 Marietta Street NW from a single-story, partially occupied 30,000 square foot building into a mixed-use project located at the southeast intersection of West Marietta, Marietta, and 8thStreets.

According to plans submitted to the City, the project would hold seventeen stories, 202,909 square feet of office space, and 18,873 square feet of ground-floor commercial or retail.

The first phase of the development includes the site preparation, which consists of constructing a 570-space parking deck with one level of below-grade parking, stormwater conveyance through an on-site cistern/rainwater reuse, and all related utility work. According to documents submitted by the applicant, the estimated site work value is $1,600,000.

The Chicago-based company obtained rezoning approvals from the City in 2021 on the properties located at 1026, 1050, and 1060 Marietta St. NW to MRC-3 (Marietta Street Artery Overlay) to move forward with the construction of a multi-story mixed-use building.

The submitted plans anticipate the demolition of existing buildings, clearing, and site grading will begin in March 2022. Building construction is expected to start mid-Summer 2022.

Post by Anita Archembeau

Whatnow Atlanta

Published on January 6th, 2022

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Cousins Properties expands Midtown tower concept, buys Ecco restaurant

Updated rendering for Cousins Properties' 887 West Peachtree office tower.

Updated rendering for Cousins Properties’ 887 West Peachtree office tower.

Atlanta’s largest office landlord has acquired a half-acre just blocks from Tech Square, adding another property for its mixed-use project along West Peachtree.

Cousins Properties Inc. paid $6.9 million for the site along 7th Street, according to Fulton County property deeds. Cousins has adjusted its original plans for its 887 West Peachtree project from a single 26-story office tower to include apartments, a restaurant and additional greenspace in a second phase of construction. The new site on 7th Street provides more room for the amenities.

Cousins brought the property from Atlanta-based restaurant group Fifth Group Restaurants, according to property records. The restaurant group’s Midtown location of European-style bar Ecco is located on the property. Cousins intends to preserve the building and has leased it back to Fifth Group. The deal closed on Dec. 9.

For the last two years, Cousins has slowly assembled sites for the project along 7th and West Peachtree. In September, it paid about $3 million for a .15-acre site adjacent to the Ecco building, where a 12-unit apartment building from 1929 still sits. In April of 2020, the company closed on three commercial lots for a combined $6.4 million.

The most recent iteration of site plans presented in December to the Midtown Development Review Committee showed a 26-story tower with 400,000 square feet of office space build over street-level retail.

Previous proposals called for around 31 stories, an additional 100,000 square feet of office more dramatic architecture that resembled a razorblade on the skyline, but Cousins altered the plans to “cater to what we’re hearing from the market,” said Executive Vice President Kennedy Hicks.

“You’re seeing the Midtown market continue to grow and evolve,” Hicks said. “This location as part of Tech Square is interesting, and the more projects that get announced there, the more exciting this particular location is going to be.”

The project is joining an area with several recently developed office towers, including:

  • Selig Enterprises’ Google-anchored 1105 West Peachtree, part of a larger mixed-use development
  • Portman Holdings’ 712 West Peachtree integrated into Anthem Technology Center
  • Cousins’ 758,000-square-foot Norfolk Southern campus.

Cousins expects to begin construction on the first phase of 887 West Peachtree this summer, Hicks said. Phase II will follow. The company has recently added active listings for the site on real estate inventory database CoStar.

By  –  Reporter, Atlanta Business Chronicle

Check out how much Midtown Atlanta has grown in a decade

Since 2010, nearly 60 buildings have risen within a square mile of booming neighborhood

 

Anyone returning to Midtown for the first time in a while has probably had that surreal experience of turning a corner and seeing a new city, a high-rise wall unfurling down the street that wasn’t there before.

Midtown Alliance has lent context as to why that happens.

As part of a debriefing event last week, Midtown Alliance CEO and president Kevin Green presented an updated aerial rendering depicting what’s been built across the booming subdistrict in the past decade and what’s to come.

Across roughly one square mile, 57 buildings have delivered since 2010, with the majority of them classified by Midtown Alliance as “major” developments.

Eight of them have opened this year alone.

Buildings that have delivered since roughly 2010 (blue), with more under construction today (green), plus some other projects in the development review process (orange) now. Midtown Alliance

The groundswell of investment in the once-sleepy district shows few signs of slowing.

Another 16 projects are under construction—including skyline-altering builds like Middle Street Partners’ 1081 Juniper towers—while another 10 buildings have cleared the development review process, according to Midtown Alliance.

In pandemic-addled 2021 alone, 10 projects have come before the Midtown Development Review Committee. If built as planned, they would bring nearly 2,000 more residential units, 60,000 square feet of retail, and more than 748,000 square feet of offices.

Where the bulk of Midtown’s development has been concentrated the past decade. Midtown Alliance

To put those numbers in visual terms, Midtown Alliance color-coded buildings in a recent aerial photo and inserted approximations of where major proposals would stand.

As staggering as that visual may be, eagle-eyed observers online pointed out that it’s actually missing a few under-construction projects, such as Toll Brothers’ 36-story Momentum Midtown and Portman Holdings’ first residential tower in the city. (Labeling Selig’s curvy 1010 Midtown condos as a post-2010 delivery, and calling John Dewberry’s supposedly viable Campanile redo “under construction” could also be described as fast and loose.)

In any case, as the illustration clearly shows, Midtown is evolving at a rapid clip, and former surface parking blocks and low-rise lots have become dense urban scenes like these below, with more on the way:

One major recent project, Norfolk Southern’s two-building HQ complex on West Peachtree Street, replaced what was largely surface parking across 3.4 acres.Jonathan Phillips/Urbanize Atlanta

Most Midtown buildings seen here didn’t exist a few years ago. Jonathan Phillips/Urbanize Atlanta

 

DECEMBER 06, 2021

BY JOSH GREEN – Urbanize Atlanta

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