Posted Apr 27, 2023, 9:08 PM
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Join Date: Feb 2005
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Loudermilk switches planned office tower to apartments
https://www.bizjournals.com/atlanta/...Pos=3#cxrecs_s
Quote:
Loudermilk Cos. has filed plans to build hundreds of apartments on a vacant lot in Buckhead Village. Just three years prior, the veteran Atlanta developer wanted to build an office building instead.
Roughly 1 acre in size, the lot is located at 359 East Paces Ferry Road, according to a special administrative permit filed with the city. Loudermilk wants to add 314 units split across 182 one-bedrooms, 82 two-bedroom, five three-bedrooms and 45 studios. Estimated rents were not included.
Loudermilk’s plan joins seven other apartment projects in the proposal stages in the Buckhead and Brookhaven areas, according to first-quarter data from consulting firm Haddow & Co.
This is the second iteration of project plans that Loudermilk has proposed for the site. In 2015, the developer, which was founded by the late Aaron's Inc. founder Charlie Loudermilk Sr. and his successor Robin Loudermilk, pitched a project to build a 12-story spec office building. At the time, it was one of the first few “spec buildings” — which means the developer begins construction without a signed tenant — to be proposed after the Great Recession.
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