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Old 12-02-2012, 12:21 PM
 
Location: ATL
4,688 posts, read 8,021,034 times
Reputation: 1804

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An Atlanta developer is planning a 329-unit apartment building by Atlantic Station — the latest intown multifamily project in the pipeline.

Pollack Shores Real Estate Group has reached an agreement with the landowner, the Georgia Tech Foundation, to buy a more than 3-acre site at 16th, 17th and Mecaslin streets. The property is across from the IKEA retail store, but not part of Atlantic Station.


Apartment project planned near Atlantic Station - Atlanta Business Chronicle
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Old 12-03-2012, 08:29 PM
 
Location: Atlanta's Castleberry Hill
4,768 posts, read 5,440,929 times
Reputation: 5161
Quote:
Originally Posted by tonygeorgia View Post
An Atlanta developer is planning a 329-unit apartment building by Atlantic Station — the latest intown multifamily project in the pipeline.

Pollack Shores Real Estate Group has reached an agreement with the landowner, the Georgia Tech Foundation, to buy a more than 3-acre site at 16th, 17th and Mecaslin streets. The property is across from the IKEA retail store, but not part of Atlantic Station.

Apartment project planned near Atlantic Station - Atlanta Business Chronicle
It going to be interesting to see the model. I would think spending only 45 million on a highrise, will be one cheap boring looking box building.
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Old 12-03-2012, 08:32 PM
 
Location: Atlanta & NYC
6,616 posts, read 13,831,744 times
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Hopefully it has something to offer other than all the other ones in this area.
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Old 12-03-2012, 08:46 PM
 
32,026 posts, read 36,788,671 times
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Quote:
Originally Posted by Atlwarrior View Post
It going to be interesting to see the model. I would think spending only 45 million on a highrise, will be one cheap boring looking box building.
Yeah, why are they even bothering with this thing for a lousy $45 million?
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Old 12-04-2012, 09:34 AM
 
Location: Atlanta
5,242 posts, read 6,238,885 times
Reputation: 2784
Looks like it would take the place of a softball field and / or a 1 hole golf course. Bet ya didn't know that was there...

Google Maps

I look forward to the possibility that the blocks of west midtown become more dense and change from single family homes to high rises.
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Old 12-04-2012, 10:55 AM
 
1,114 posts, read 2,349,797 times
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What makes you think it'll be a highrise? The developer, Pollack Shores Real Estate Group, looks to be a lowrise stick builder. Even Skyhouse which isn't exactly known for being high dollar cost $60M to build for fewer units. The CEO of Pollack previously worked at Lane which developed some of those low rises in the AS project. It's unlikely he's gambling big on a highrise especially since he wouldn't need 3 acres to get 300+ units. If you look at the map posted by tikigod311, you can see the 3 acres is a much larger footprint than both the Atlantic and Twelve combined. Far more likely you'll find a 5-6 story stick built fake brick apartment meant to hit a low-mid 1000's starting point.
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Old 12-05-2012, 12:07 PM
 
Location: Somewhere
57 posts, read 241,045 times
Reputation: 41
The rental market here is starting to annoy me. All these high-priced apartments. I just noticed the ones they're building across from White Provision at 14th and Howell Mill. Who are they marketing to and who is going to be able to afford these places?

So glad and grateful that I'm buying now.
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Old 12-05-2012, 12:33 PM
 
Location: Kirkwood
23,726 posts, read 24,866,786 times
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Quote:
Who are they marketing to and who is going to be able to afford these places?
Young Professionals and baby boomers.
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Old 12-05-2012, 05:13 PM
 
Location: Mableton, GA USA (NW Atlanta suburb, 4 miles OTP)
11,334 posts, read 26,086,242 times
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Quote:
Originally Posted by cqholt View Post
Young Professionals and baby boomers.
In other words, anyone who has a well-paying job.
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Old 12-05-2012, 06:00 PM
 
Location: Atlanta & NYC
6,616 posts, read 13,831,744 times
Reputation: 6664
Quote:
Originally Posted by rcsteiner View Post
In other words, anyone who has a well-paying job.
Translated perfectly.
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