New apartment tower planned for Buckhead (Atlanta, Sandy Springs: 2015, apartments, condos)

[cqholt]

25 story apartment tower planned for Lenox Rd.
http://www.bizjournals.com/atlanta/r...apartment.html

It may be getting late in the multifamily cycle, but Atlanta developers continue rolling out plans for new apartments.
Few intown districts have been more active than Buckhead, where Crescent Communities is adding to the development wave with a 25-story glass and stucco apartment tower. The Preston Partnership LLC is designing the project.

The 352-unit tower would rise just off Lenox Road near Lenox Square mall at Oak Valley Road and Wright Avenue. The project was presented to the Buckhead Development Review Committee this week.

The apartment boom has been impressive, but not for the total number of projects. It’s where the projects are clustering that’s unique — mostly within the intown Atlanta neighborhoods or near MARTA stations in Sandy Springs and Dunwoody, Chamblee and Brookhaven. In other words, more apartment developers are focusing on walkable areas close to transit.
Developers had started 1,799 apartments units in Buckhead and Brookhaven through July of this year, according to The Reid Report, a publication that tracks apartment development across metro Atlanta.
Although more intown Atlanta projects are entering the planning phase, nationally the fundamentals that sustained the apartment surge may be weakening. Construction outpaced net absorption of by more than 5,000 units during the third quarter, according to Reis Inc.

Nationally, year‐to‐date completions of new apartment projects total roughly 127,000 units, but the pipeline “has swollen considerably over the last 12 months and there are tens of thousands of units that are slated to hit the market during the fourth quarter of this year,” Reis said.
“Even without the tsunami of new supply hitting the market, vacancy is on the way up. This does not portend good things for the next couple of years as new completions increase and flood the market,” Reis said in its latest quarterly report. “That said, vacancy expansion will not be dramatic – there is far too much demand to prevent that from happening – so vacancy will marginally drift higher.”

[AnsleyPark]

Let's hope the market doesn't get overheated... Nonetheless, it will be great that there will be yet more intown living options, particularly in walkable areas having nice amenities and transportation options.

[jsvh]

Nice. MARTA is continuing to prove they are quite the draw for development.

[cqholt]

New 21-story tower with 220 apartments announced for Peachtree Rd corridor.
More Low-Slung Buckhead Buildings Could Fall for High-Rises - Ch-Ch-Ch-Changes - Curbed Atlanta

A new 21-story tower could soon pierce the Buckhead skyline on Peachtree Road. Developer Wood Partners presented drawings for the Reese Vanderbilt-designed project at a Development Review Committee meeting last week. BuckheadView reports the building will include at least 220 apartments above 5,700 square feet of retail space along Peachtree and Shadowlawn roads. Located next door to Trader Joe's, the high-rise would claim York Furs and Dan Martin Flowers — businesses housed in two old homes — continuing the trend of scrubbing away the last vestiges of low-density development on Peachtree Road in Buckhead.

The loss of low-rise development has come swiftly to the neighborhood along the Peachtree Road corridor between Lenox and Roswell roads. Earlier this year, it was announced that the Buckhead Christian Church would likely be demolished for a new high-rise, while down the street at Piedmont Road the parking lot near Disco Kroger will gain residences and a hotel.

Closer to the Shadowlawn site, an OliverMcMillan office building will soon rise on the site of a former HiFi Buys. While next door, the Buckhead Bottle Bar lost a fight with a bulldozer as the Loudermilk Companies moved forward with a planned office tower — just one of many projects the developer has planned for the neighborhood.

Recently completed projects that replaced low-rise development include Broadstone Court and Cyan — which took the final bite out of Dante's Down the Hatch.

Oddly, bucking the trend just down the street from the proposed tower, a low-slung shopping center is getting spruced up. It'll be interesting to see how long that land lasts before a high-rise sprouts there.

[ATLTJL]

I just hope they build them nice so when they ultimately convert to condos people won't be buying crap.

[JMatl]

Renderings were also released on Friday of Related's new 36 story tower at Peachtree & Stratford Rd., directly in front of Maggiano's.

[JoeTarheel]

I have really been liking some of the designs that have come out recently. We seem to be getting away from the Skytrailer by Novare look and moving toward buildings that will stand the test of time. This one looks nice.

[Atlwarrior]

Originally Posted by JMatl

Renderings were also released on Friday of Related's new 36 story tower at Peachtree & Stratford Rd., directly in front of Maggiano's.

Wow well looks who's back. I remember Related proposing many multiple towers near Lenox years ago, but it never came to fruition. It's a beautiful building and have a Miami flair , but traffic is horrendous in Buckhead.

[cqholt]

Originally Posted by Atlwarrior

Wow well looks who's back. I remember Related proposing many multiple towers near Lenox years ago, but it never came to fruition. It's a beautiful building and have a Miami flair , but traffic is horrendous in Buckhead.

That is not going to stop developers and people from buying in red hot Buckhead. This area of Buckhead is well served by MARTA rail and gives people who have the option to use MARTA alternatives.

[arjay57]

Originally Posted by Atlwarrior

Wow well looks who's back. I remember Related proposing many multiple towers near Lenox years ago, but it never came to fruition. It's a beautiful building and have a Miami flair , but traffic is horrendous in Buckhead.

I don't have much trouble with traffic in Buckhead. It's heavy at rush hour where isn't it?