Posted Oct 14, 2020, 9:40 PM
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Join Date: Feb 2005
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Rhapsody
https://www.bizjournals.com/atlanta/..._3&cx_artPos=2
Quote:
A Washington D.C. developer known for projects in walkable, urban neighborhoods is pitching a 324-unit residential tower in Midtown that would feature both luxury apartment units and condos — a first in Atlanta.
Capital City Real Estate wants to build a 267-foot-tall tower on the site of Earthlink’s former Midtown office campus on Peachtree Street. Last year, it bought the 1.5-acre Earthlink property at 1439 Peachtree St., on the north side of Midtown, for just over $15 million. Capital City also plans to develop the adjacent parcel at 1429 Peachtree St.
The new 24-story residential tower would include 55 condos on the 14th through 24th floors, with an average listing price at $1.6 million and average size of over 3,000 square feet per unit, according to an Oct. 13 presentation Capital City made to the Midtown Development Review Committee.
The remaining 250-plus units would be for-rent apartments.
Ladson Haddow, a managing partner with the residential market analyst Haddow & Co, said “there is no precedent for condos atop apartments in Atlanta.”
The concept has been done in other markets, including the 505 Tower in downtown Nashville, Haddow said.
Capital City plans to start construction by the middle of next year, Scott Zimmerman, founding principal and president, told the Midtown Development Review Committee. The project could be finished by late 2023, he said.
That timeline will depend on construction financing.
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Last edited by smArTaLlone; Oct 14, 2020 at 10:31 PM.
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