midtown atlanta apartments Archives

Whole Foods Considers 14th Street Location in Midtown Atlanta

March 18, 2015 by Thom Abbott

It looks like a much needed grocery store could appear in Midtown Atlanta…mind you not until 2018!!!!

Whole Foods Market, based in Austin, TX is in talks with The Related Group for a 60,000 sq. ft “urban store” on the site of their proposed 400-unit apartment building at 14th and West Peachtree Streets. The store would anchor Related’s planned project which might include two towers built in phases. The “urban store” format indicates that the store would be on several levels, versus all one level as is common with grocery stores. If you want a cool idea of what this could be like, just venture to Columbus Circle in New York City!

Whole Foods has one store in Midtown, although it’s on the fringe at Midtown Place across from the Ponce City Market on Ponce De Leon Avenue. This location would be somewhat more walkable for people in such Midtown Atlanta condo buildings as 1010Midtown, Peachtree Walk and even a Publix alternative to those in Plaza Midtown, where there is currently a Publix market. Get much further away and you’ll probably see Midtown peeps in their autos…so look for a parking garage! (Will they figure out how to mask it by the time they build this one? Who knows?)

Back in May, 2014, the Atlanta Business Chronicle (ABC) reported that the Related Group had the 2.2 acre site under contract. There are currently two surface parking lots there. At that same time, the ABC article made comment about the ever growing pipeline of apartments on tap for Midtown Atlanta. Of concern is too many of the units hitting the market at once, according to analysts such as Haddow & Co. To many at one time That’s could begin to soften intown rents, which today are well above $2 a square foot at the newest projects.

Keep in mind, this site is just across the street from the new Novare building, at 13th and West Peachtree. So keep your eyes open for yet another apartment crane on the Midtown Atlanta horizon.

PLANS FILED FOR 25-STORY AZURE ON THE PARK APARTMENT TOWER NEAR PIEDMONT PARK

March 4, 2015 by Thom Abbott

Well, it looks like Midtown Atlanta is going to see another high rise building. But condo buyers….not so fast!

PLANS FILED FOR 25-STORY AZURE ON THE PARK APARTMENT TOWER NEAR PIEDMONT PARK

Located at 1020 Piedmont Avenue, the building will rest between 10th and 11th Streets with a residential units wrapped around a five-story parking structure and a 25 story tower. A total of 330 homes. There will be a minimal 2,100 square feet of retail space.

Atlanta Realty Partners filed a building permit with the City of Atlanta and will spend some $2,500,000 to ready the site for construction. That would most likely include the demolition of older apartment buildings on the site.

At this time, MyMidtownMojo.com does not have any “before” photos but will capture them next week.

Will 14th Street Midtown Atlanta Triple Tower Project Happen?

March 4, 2014 by Thom Abbott

New building announcements are flying around Midtown Atlanta! Most all of them are exciting, but….the big question always is, Will they really happen?

A new 14th Street Triple Tower project has been proposed by a group of New York developers. And this is no small project! Located on 14th Street, the project would be developed on the site that was once to be the new Atlanta Symphony Hall. (You probably have driven up and down 14th Street and hardly noticed this little 3-4 acre site behind the Symphony Building ( a.k.a 1180 Peachtree) and across 14th Street from The Four Seasons Hotel.

The development group wants to build THREE towers — rising 60, 57 and roughly 39 stories — with some 1,300 apartments, ( we can hope they would be condominiums) 340 hotels rooms and 90,000 feet of shops and restaurants. as you can see from the initial design, the towers will be rather lack-luster at the street level, but then the upper floors take on a curve up to the flat rooftop. Somewhat creative….if perhaps they started the twist about a third of they way up one, or all of the buildings!

We have experience of buildings being proposed, and then never happening. Two additional towers at Viewpoint Midtown that did not materialize (although Novare Group has just completed SkyHouse South on the site.) Trump Towers. One Museum Place.

If all three towers were built, the projected completion date is 2020, so it would be some time. Hopefully size matters and the tallest, 60 story tower would claim its place on the Midtown Atlanta skyline first. We’ll keep you updated as we learn more about the project. It is considered a regional impact due to the size, so there are additional approval steps to follow.

New Midtown Apartment Tower Called “Iconic” Building

February 8, 2014 by Thom Abbott

6th and Peachtree Apartment Building — Rendering by Perkins + Will

The interest for Midtown Atlanta certainly is not waning as numerous apartment developments are announced. Note….I said a-p-a-r-t-m-e-n-t-s….not condominiums. But at least it appears one developer has figured out that Midtown Atlanta needs an iconic building.

Integral Group, headed by Egbert Perry has presented a plan for a 35-story apartment tower on the corner of 6th and Peachtree Streets. The current vacant lot is surrounded by Viewpoint Midtown, 805 Peachtree and across the street, Cornerstone Village. Perry is noted for his re-development of the Techwood Homes housing project into Centennial Place, a $153 million mixed-use development, and Centennial Park North, a $45 million townhome community. Both became a model for revitalizing public housing projects. Additionally, Integral Group is also working to acquire the former General Motors Plant in Doraville…some 130 acres located at I-285/ I-85 and adjacent to the Doraville MARTA station.

It’s clear to the eye, that Atlanta in general has been the settlement of plain glass towers without much character. Sovereign Buckhead would be the one new building to have broken that trend in recent years. The “Iconic” (we’ll call it that for now) would certainly be a stand out on the Midtown Mile and bring some much needed architectural character to the community.

Plans call for around 400 apartments and 25,000 sq. ft. of retail space. It will not be a value address when it comes to rental rates. Industry experts say the rates will push $2 per square foot, or more, such as the recent 77 12th apartments have done. 77 12th is part of the 12th and Midtown development that includes the Loews’ Hotel and 1010 Midtown condominiums.

So, a 1 bedroom at 800 sq. ft. would be $1600 per month. If floor plans offer a 1,400 sq. ft. 2-bedroom home, rent would be in the $2,800 range. To those living in Midtown and paying $1000-1300 for a one-bedroom would be wise to sign multi-year leases if they knew they were going to be staying in Midtown. It’s not getting any cheaper to rent!

From the Buyer’s perspective, it is anyone’s guess if such a building would be built and converted to condominiums instead of apartments, or they will open as apartments, and in a few years, convert to condominiums for purchase. Certainly right now, a new construction condo purchase in Midtown Atlanta is going to be reserved for those willing to pay $600,000 and beyond.

And here is a glimpse of the site where this building is proposed.

Midtown Atlanta Apartments and Construction | Do We NEED All These Apartments?

December 26, 2013 by Thom Abbott

If you are shopping for a Brand New, never lived in condominium in Midtown Atlanta, you will be hard pressed to find one, or you better have a really fat check book. All of those construction cranes you see are NOT for new condominiums, but for rental apartments. So, the question now on everyone’s mind is….

Midtown Atlanta Apartments and Construction | Do We NEED All These Apartments?

As of recently, (meaning in the last year) we’ve seen SkyHouse North be completed, and be fully occupied. Then there is 77 12th (part of the 12th & Midtown development) that just in the last week announced that they are now 95 percent leased. And these were no cheap apartments!!! (I can’t place my hands on pricing info at the moment, but I recall studio floor plans started at $1500 per month!)

Now, coming in January, we have SkyHouse South, located next to Viewpoint Midtown. There is also apartments under construction at Ponce and Juniper Streets, new apartments near the Old Fourth Ward Park and Ponce City Market; several projects in Midtown West!

Let’s see what happens!

Faison plans new Ponce de Leon project – Atlanta Business Chronicle

August 9, 2012 by Thom Abbott

See on Scoop.it – Midtown Atlanta Conversations and Condos

A portion of a Midtown city block that includes well-known modernist architect I.M/ Pei will be getting some new construction…..you guessed….MORE apartments!

A portion of a Midtown city block that includes well-known modernist architect I.M. Pei’s first office building in Atlanta is set to become a large mixed-use development.

A joint venture between real estate investment company Sereo Group Inc. and developer Faison Enterprises recently bought the 2.5-acre site bounded by Ponce de Leon Avenue, North Avenue, Piedmont Avenue and Juniper Street for $6.5 million. The partners are focusing on urban infill redevelopment sites in Southeast cities.

The developers have submitted plans to the Midtown Development Review Committee for a mixed-use project that will include 321 apartments and 8,600 square feet of retail space. It will be called 131 Ponce de Leon Ave.
See on www.bizjournals.com

PLANS FILED FOR 25-STORY AZURE ON THE PARK APARTMENT TOWER NEAR PIEDMONT PARK

Midtown Atlanta Apartments and Construction | Do We NEED All These Apartments?

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