Buckhead District Developments

[Lady Celeste]

Also in development news:

Regents Partners and Pope & Land have decided to move forward with their project at 3330 Peachtree Blvd.

Here is a render of the building:

I am so glad that they are pushing it right up to the sidewalk.

Read more here: http://www.bizjournals.com/atlanta/print-edition/2012/04/20/new-buckhead-project-to-move-forward.html

ANNNNNNNNNDDDDDDDD.......

There is now work going on at the Buckhead Atlanta development formally known as the Streets of Buckhead. Great news all around the city and in the suburbs.

[Martinman]

The Village and the sorrounding area seems to be the hotbed of development activity for Buckhead at the moment.

While "Buckhead Atlanta" has started pre-construction on their site, Camden Property Trust is moving forward with demolition of the old "The Paces" apartments at 77 E Andrews Ave which will be followed by construction of Phase I of a mixed-use development on the 30-acre site. Phase 1 will be 376 luxury apartments in two 7-9 story buildings. No rendering is available.

92 West Paces Ferry Road a 210-unit, eight story luxury apartment building adjacent to the St. Regis hotel recently broke ground. No rendering is available but the developers say that the new building will be consistent with the architecture of the St. Regis.

92 West Paces Ferry

Edited May 19, 2012 by Martinman

[Lady Celeste]

Thank you for the construction/development updates Martinman. I was fearing that our section of UrbanPlanet.org was turning into RetailPlanet.org, lol. Anyway, I am very curious to see what the apartment building next to The St. Regis will look like. If it's along the same elegant treatment then that will be a great addition to that stretch of West Paces Ferry. Plus, they will be right across the street from Whole Foods. There is so much actual development going on around the city.

[Martinman]

Apparently the revised job numbers from last year, showing metro Atlanta had a healthy gain rather than a net job loss, has given developers a boost of confidence. As a result, I think we can expect a healthy number of projects to move forward this year. There are about a half dozen intown infill projects that I'm anxious to learn more about.

[Martinman]

To continue the trend, Oliver McMilan has announced plans to start construction on the two apartments towers in the Buckhead Atlanta development this fall. Combined, the towers will have over 300 units. The retail portion will begin this fall as well and will be built in two phases.

http://www.bisnow.co...tart-this-fall/

Edited May 24, 2012 by Martinman

[Lady Celeste]

I am pleased to see that construction is moving forward on such a valuable piece of real estate in the Buckhead Village area. More rooftops in this area can only be a plus. This weekend I was looking at House Hunters on HGTV and there was a young lady of 25 purchasing her first home. She looked at a unit at the Eclipse on the 16th floor with a downtown view and two in what I think was Brookhaven. I was hoping...from an investment mind...that she would have chosen the Eclipse unit. At the time of taping the Streets of Buck...my apologies...Buckhead Atlanta was just a hole. She decided on the Brookhaven 2 bd unit. Her agent should have told her of the development that will take place around the Eclipse. Although it was just a one bedroom, the potential for the area is astounding. That would have been a super duper investment for an unmarried, childless 25 year old young lady who initially wanted to be in the thick of things.

The real reason for my post however is to make mention of a change to the Buckhead Financial District or SPI-12 that I find quite interesting. In the Atlanta Business Chronicle, there was an article that states that Buckhead’s financial district now falls under new zoning that will allow for even taller skyscrapers and encourage more urban plazas and green space. While the "even taller skyscrapers" may be of importance to some....do we really need taller buildings than the 50 story 3344 Peachtree and the 42 story Mandarin Oriental Atlanta in the district....what struck me as exciting is the addition of green space.

The thought of owning a highrise home in the area is appealing to me but the lack of green space always tempers my thoughts on the matter. More green space will make this area much more livable. The "calming" effects that have taken place to beautify Peachtree have been awesome (wide sidewalks, elegant benches, trees and flowers) but it still doesn't make up for actual green space. Hopefully this will be alleviated with this new ordinance. Let's toast to trying to make this area into a more livable urban environment. I recall a story a few weeks ago about a trail system that will be built under the Marta overpass. This addition will be a jewel for the area. Let's hope that somehow the trail systems can connect to some of the future green spaces in the area.

[Lady Celeste]

In Buckhead apartment development news:

Crescent Resources LLC has filed plans for a nearly 360-unit luxury apartment project at Terminus, the giant mixed-use development in Buckhead. The Charlotte - based developer would build the project behind the Terminus office and condo towers, marking the final phase of the 10-acre development at Peachtree and Piedmont roads. At Atlantaskyriseblog.com, the blog maintained and operated by Kevin Grieco...an intown condo expert...there is a great diagram of the positions of the planned units. This area is really burgeoning with a proliferation of residential units. Terminus is a great development and this will only enhance it. There is also another planned apartment development of 300+ units right at Phipps Plaza. More information to follow.

[Martinman]

Buckhead Atlanta Restarts

Construction cranes came back to life on Tuesday over Buckhead Atlanta, the long-delayed project to turn what used to be the city's party district into an upscale development.

The roughly $1 billion project will eventually include 370 apartments, 300,000 square feet of retail space and about 100,000 square feet of "boutique" office space, the developers say.

Here are some renderings of some previously announced projects.

92 West Paces Ferry Apartments

The Paces

Circle at Terminus

[Lady Celeste]

The Circle @ Terminus is going to be in a great spot. With all shopping and eatery options in the area, this should be a sure hit. It also adds much welcomed (I imagine) rental options to the successful Terminus complex. The Paces development is "on" West Paces Ferry next to the St. Regis right? I think it's design treatment is in keeping with the immediate area. Overall, I'm pleased to see more residential units in the Buckhead submarket. Also Martinman, thank you for the updates and images on these projects. I am not often in Atlanta as I would prefer to be so actual development news is much appreciated.

[Martinman]

Lenox facade renderings

pdf of all the proposed changes ( Link )

[101_ce]

I am very, very impressed with these plans. This will really change Lenox from a mis-matched old center to a lovely luxury mall like it deserves to me. Knowing how Simon messes up a lot of things, I was very presently surprised.

If you look on page 11, it shows a restaurant in the corner that looks a LOT like a Cheesecake Factory, and if you look very, very close you can tell that on the doors that it does in fact say The Cheesecake Factory, and I thought that renderings were not allowed to show any tenant names on the buildings unless they have signed a lease, so does that mean that the Cheesecake Factory will relocate their Buckhead location to the mall? I wonder what will open where they are now? This is great for Lenox, as they don't really have any sit down restaurants.

Edited August 23, 2012 by ct36

[Kenneth Disraili-Jean]

Like ct36, I find this very surprising considering it is coming from Simon. But alas Lenox will finally get the look it has needed for so long, and I also see that the architects made sure that things "MATCHED", instead of the different areas of the mall that have been mismatched for so long.

This is very exciting, and I think it will really improve the current retail mix that Lenox Square offers.

But this begs the question if Simon has anything planned for Phipps Plaza? Although a very elegant mall, some architectural aspects are becoming dated since the big redo of 1992. I guess time will tell. There is alot invested in Phipps Plaza, not just Lenox, so they should care for both of these flagship properties since there is hardly anything in comparison for several hundred miles of Buckhead.

[DAP433]

I like that they are taking some initiative in densifying Buckhead, but there are a few issues that I have. Buckhead is not very accessible to MARTA, as opposed to Midtown, so traffic will most likely get worse. Atlanta already has a huge glut of condominiums under $2 million. It's funny, because the W Hotel in downtown lowered its prices to attract buyers. Yet the St. Regis increased their prices, and it's almost sold out.

I hope they redesign the first project before building, because it looks just like the cookie-cutter apartments that dot Atlanta's cityscape.

[Lady Celeste]

 

I think this is a very interesting view of the Buckhead Business District.

 

While I'm speaking about Buckhead....

 

 

The Prominence building on the Buckhead Loop (Lenox Road) will be joined by two planned apartment buildings. From the picture is looks pretty isolated but actually it's within mere walking distance to Terminus and all of its shops or just a slight jaunt to One Buckhead Loop. I'm glad to see this suburban styled office complex at such a prominent corner (Piedmont @ Lenox Road) get re-purposed into a more flattering urban stylized (not quite urban) development. We are taking baby steps in the Buckhead District but I'm glad to see more housing in large business districts within the city.

 

From the Atlanta Business Journal:

 

Florida-based real estate company Crocker Partners LLC is proposing one of the largest apartment projects in Atlanta — 26-story and 19-story towers in Buckhead.

Crocker Partners filed a rezoning request with the city of Atlanta Feb. 12 for a 6.5-acre site next to the its 18-story Buckhead office tower known as Prominence. The site at Piedmont and Lenox roads lies at the western end of what’s commonly called the Buckhead Loop that crosses over Georgia 400.

The Loop has been a magnet for office towers that included Prominence in the 1990s, and the development of Tishman Speyer’s Two Alliance Center ...

    

This will look great in that location. As I said earlier, this would be in actual walking distance to a great deal of amenities and MARTA. I look forward to renderings. It seems of late that developers are making announcements and before you know it construction has commenced.  

Edited February 18, 2013 by Lady Celeste

[Martinman]

Buckhead Atlanta Tenant list

 

A bit of sleuthing on the BA website has turned up this tenant list associated the space each tenant will presumably be taking.  Oliver Macmillan is still not disclosing tenants except the ones we already know about, so this is still "unofficial".

 

 

Building A
Oscar De La Renta
Akris
Shake Shack 
Gypsy Kitchen
Lugo Caffe
Le Bilboquet
American Cut
Thomas Pink
Etro

Building B
Jimmy Choo
Brunello Cucinelli
Moncler
Corso Coffee Wine Bar
Christian Louboutin

Building C
Georgetown Cupcake
Doraku Sushi
American FB
Courage
L'Occitane
Fireside Pies
Scoop
Canali
Hermes

 

[Lady Celeste]

One name is missing from that list. I could have sworn that Carter was in talks with Van Cleef & Arpels. I love their jewelry and was hoping they would also be apart of the Stree...ummm Buckhead Atlanta. You can't have it all I suppose. Perhaps at a future time. 

 

While I'm in the Buckhead section, I saw an interesting population figure for what I assume encompasses the all of the Buckhead Business District or basically the part of the district east of Peachtree/Roswell Rd to the Brookhaven city limits. NPU-B has learned that its 2010 population, via the Census Bureau, jumped 22.4 percent to a new 2010 total of 47,292. This could explain why so many developers have proposed or launched new apartment towers.

[Lady Celeste]

Here is something for our retail development and construction development fans alike:

 

Buckhead Atlanta is rising. After some trying times, the site is bustling with activity. Here is a video from February 28, 2013 shot by a diligent gentleman who goes by the name ImmovableMedia on Youtube. He is such an asset. In the beginning it may look like a ghost town but keep watching....

 

Here's the video:

 

[Lady Celeste]

This will be the last post of the day for me. I feel like I am spamming but there is just so much construction going on in Atlanta that it's almost difficult to keep up with it all. Well as mentioned a few post back in this section, Charlotte based Crescent broke ground on Circle @ Terminus.  

 

 

 

Well ImmovableMedia has been nice enough to video construction of the site for us. Thank you to ImmovableMedia on Youtube. He is like our very own webcam in a sea of construction.   This video is from March 1, 2013. The apartment building seems to be swallowed up being that it is surrounded by such tall buildings but in the case of real estate...location, location, location! The Terminus complex offers a great deal of amenities. Also the apartments are in a short walking distance from Trader Joe's and Kroger. It is also a quiet walk to the Buckhead Marta Station. The more infill the better. 

 

[Lady Celeste]

We can put this post in the "wowzers" category...

 

 

Above is a picture of the lobby of the glamorous St. Regis Hotel and Residences in Buckhead. Per our favorite intown highrise specialist, Realtor Kevin Grieco at AtlantaSKYriseblog.com, the St. Regis Residences Buckhead has scored yet another monster closing.

 

The St. Regis Residences Buckhead has planted its feet firmly at the top of the condo market, closing yet another shell in the 53-unit building. Yes, a shell for over $8,000,000 in the Atlanta condo market.

Residences 2410 and 2430 were sold to one buyer for $8,317,650 and have approximately 11,715 square feet of space – which works out to be $710 per square foot before any type of build-out.

Could we be at a turning point in the luxury condo market? The answer is yes on so many levels. You have heard me say it before. Our condo inventory has shrunk to unheard of levels and most of the buildings are near a complete sell-out of their inventory. The Ritz-Carlton Residences Buckhead has sold out of their two- and three-bedroom condos. The Brookwood has nothing left. Astoria has a few left.

  

This is wonderful news and speaks well of the luxury/high-end condo market in Buckhead. As stated in Kevin's blog...which I will post a link below...the only high-rise luxury developments offering shell units now are The St. Regis Residences Buckhead and The Residences at Mandarin Oriental. I am quite sure that once finished, it will be a showpiece. It's great to see sales healthy in the intown market. 

 

 

ttp://www.atlantaskyriseblog.com/2013/03/14/st-regis-residences-buckhead-closes-shell-for-8317650/   

[Lady Celeste]

There was a very interesting article in the March 24, 2013 edition of the Atlanta Journal Constitution titled: Buckhead now in revival mode. Here are some interesting tidbits from the article.

 

1) The rebound has a different tone, one that's a little less exclusive. Instead of the glitzy new office buildings, luxury condos and retailers for the 1 percent, the strength of the market now lies in high-end apartments. Retail space is going to merchants with a tab more mass appeal. 

 

2) Office vacancy in Buckhead - 16.6 percent at the end of 2012 - is still high but far better than the 23 percent in early 2010. The decline comes despite more than 2 million square feet of new top tier space added to the market. That's some serious absorption of office space. It's so great that New York developer Tishman Speyer is said to be quietly pitching land for a new office tower not far from Phipps Plaza. It would be the first skyscraper started in the district in five years.

 

3) The once stalled Streets of Buckhead mixed-use project at Peachtree and East Paces Ferry roads...now rebranded as Buckhead Atlanta...has sprung back to life. Five construction cranes now churn at the development. The project is still ambitious, if less grandiose as initially envision. There will now be 370 apartments across two towers. A rep for OliverMcMillian said that the project will include $330 million in new investment on top of $360 million already spent at the 10 acre site. The developer is scaling back height, capping the apartment towers at 20 stories, with intimate avenues and energy on the street. This is exactly what this location needs.

 

4) The Buckhead Coalition said more than 4,100 apartment units were announced for development in 2012. There is currently 21,000 existing units in the district. Charlotte-based Crescent Resources has started construction on three eight-story apartment buildings at the Terminus Complex at Peachtree and Piedmont roads. I didn't know there would be three separate buildings at eight stories each. Buckhead has 80,000 jobs in the immediate vicinity. Per Crescent Resources, workforce housing is desperately needed in the immediate area. Many are being absorbed by a younger clientele. This should add a much needed mixture to the million dollar plus condos in the immediate area.

 

Those were four interesting points I got from the article. The Buckhead District is yet again morphing and growing. I'm glad to see this happening.         

[Lady Celeste]

Looking east from the Terminus complex in Buckhead:

 

 

If you will take notice, the grassy area in the bottom center of the photo above, that is being replaced by Crescent Resource's 8 story Circle Terminus Apartments. The crane has been hoisted at the site. I'm glad that it will hide the backside of that parking deck. It's actually going to be three buildings...two building sites (not shown in the picture above) are across the street from the grassy area that is now a full construction site. I'm sure our very own Immovable Media will shoot a video as soon as the construction crane is up and moving. The streets are small back there but I think that will make for a much more intimate feel. The quiet back streets will also offer a more pedestrian friendly (if walking along wide boulevards are not to your liking) stroll to the Buckhead Marta Station. From what I hear, Circle Terminus will be Leed certified and will have an amazing roof top amenities package. So exciting.....  

[Lady Celeste]

Now we have a webcam to go with the Circle Terminus development site. This is right on time and it fits nicely with the picture above. So instead of looking east from Terminus, we are now looking down from the Grand Hyatt. I'm glad they were able to get a vantage point that shows all three buildings in one frame. 

 

Circle Terminus webcam: http://oxblue.com/open/CrescentTerminus  

[Lady Celeste]

In Buckhead development news:

 

 

 

1) Post Properties Inc has announced plans for a 19 story apartment building next to Phipps Plaza at GA 400. There is not much in the way of a rendering but an announcement all the same.

 

Read more here: http://www.bizjournals.com/atlanta/print-edition/2013/05/31/post-to-plant-new-tower-next-to-phipps.html

 

 

 

2) I generally don't celebrate another city's loss of a corporate headquarters...especially when said city is Detroit...but Bloomfield, MI based Pulte has announced that they will relocate the corporate headquarters to Atlanta's Buckhead District in 2014. The move will bring with it 300-350 corporate positions. Pulte is scouting Buckhead for up to 100,000 sq feet of office space. Atlanta Plaza, next to Lenox Square Mall and MARTA's Lenox train station, has emerged as the frontrunner.

 

PulteGroup Inc is one of the country's largest home builders. In 2011 it ranked 486 on the Fortune 500 list. Pulte will join Atlanta-based Beazer and John Wieland Homes in the residential home builders category. 

 

Read more here: http://www.bizjournals.com/atlanta/morning_call/2013/05/report-pulte-to-move-headquarters-to.html

 

 

 

 

3) The venerable restaurant known as Dante's Down the Hatch on Peachtree will officially become the site of a new apartment building. It's been on again, off again due to wrangling over the price but now with the papers signed, construction should commence. Dante's last day is July 31st. It is an institution that will be sorely missed.

 

 

 

4) Buckhead's Trail gets a new name. It will now be called PATH400. Billed as Buckhead's Beltline cousin, the trail will be 5.2 miles long. Once completed, the trail will go from Loridans Drive (just shy of the GA 400 Tolls) to Moresgo Drive (near GA 400's split with I-85) in the Lindbergh Center. Construction is slated to begin January 2014. Hopes are that this trail will eventually connect to the Atlanta Beltline. 

 

 

Read more here: http://atlanta.curbed.com/archives/2013/05/15/path400-buckheads-trail-gets-a-name-start-date.php   

 

 

 

5) In historic preservation news, the home of the great great grandson of Thomas Jefferson has found a benefactor and a new home in Atlanta's Ansley Park District. This is great news. The house currently sits in front of the 2500 Peachtree Condo building. The HOA has been trying for years to get the place demolished but now all our fears of such historic destruction is no more. It's so good when we can preserve some of Atlanta's rich history. It doesn't look all that grand but it has a great pedigree.

 

 

Read more here:http://www.bizjournals.com/atlanta/morning_call/2013/05/historic-buckhead-mansion-targeted-for.html

 

 

 

6) Alliance Residential has announced two small apartment buildings in Buckhead.

 

 

Phoenix-based multifamily developer Alliance Residential has closed on two parcels in Atlanta that will be transformed into more than 400 units of luxury rentals. Construction on the 186-unit complex will begin immediately, says Alliance's Bob Weston. The second site is off Maple Drive in Buckhead Village, where two small office buildings and a restaurant are currently housed. Here, Bob says Alliance will develop a 250-unit complex, starting later this year.

 

 

 

Read more here: http://www.bisnow.com/commercial-real-estate/atlanta/alliance-building-two-in-buckhead/

 

 

 

 

There is so much more going on in Buckhead...but that is a snippet of going-on's in this episode of Buckhead Development News. 

[Lady Celeste]

Apparently there IS a rendering for Post's newly announced 19 story apartment building by Phipps Plaza and GA400. From the picture below, it appears to be 19 floors of apartments ABOVE a parking podium. I am assuming that this building will be in the Post Alexander complex, near the Park Regency condo building and in the parcel of land closest to GA400. It's a nicely done, decent addition to the area. 

 

 

[Lady Celeste]

In Buckhead Development News:

 

Our favorite Atlanta construction videographer is at it again with some recent videos of construction in the Buckhead Business District.

 

 

 

Work continues on the Buckhead Atlanta complex. We all can give cheers for that!!! The retail portion is rising...as evidenced by the rotunda portion that has formed. The apartment towers are starting to rise also. There will be two. It looks like above ground activity should be imminent for most of the development. Scene shot on 5/29/13. 

 

 

 

 

 

 

Also, work continues on the Circle Terminus Apartments in the Terminus Complex. Scene shot on 5/31/13.

 

 

 

 

 

 

 

And Lenox Square Mall is undergoing a facelift procedure. Scene shot on 5/31/13.

 

 

 

 

 

 

 

 

 

 

I would like to give a really big thanks to ImmovableMedia for the videos. You can find him at: 

 

 

http://www.immovablemedia.net
http://www.youtube.com/user/ImmovableMedia

 

Edited June 3, 2013 by Lady Celeste