That's a great looking project for Grant Park despite the silly name. There is an overuse of "highline" and "yards" everywhere in development circles based on the success of the actual Highline and Hudson Yards.
Atlanta developer Pollack Shores Real Estate Group could break ground as early as next month on a 320-unit apartment project in Chosewood Park.
It includes seven apartment buildings and 15,000 square feet of retail space on a little more than eight acres at 1099 Boulevard. The site connects to the Atlanta Beltline's future Southside Trail.
Quote:
The plan reflects challenges Atlanta developers face from rising construction costs and what that means for density on the Beltline. In this case, Pollack Shores' original design has been adapted to include a 367-space surface parking lot.
Beltline neighborhoods generally dislike large amounts of new surface parking along the 22-mile former railroad corridor, which is now an intown Atlanta destination for walkers, runners and cyclists. Parking, they say, eats up important space that could be used for much-needed neighborhood amenities including more stores and restaurants.
Developers counter that intown population is growing and so is the need for more housing. But, rising construction costs are cutting into profit margins, and that makes new projects harder to finance. For example, Pollack Shores has seen costs climb on their stick-frame apartments with parking decks from $110 per square foot to $165 per square foot since 2012. Developers either have to recoup those costs with higher rents — which market demand may not support — or cut-back where they can.
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