Application Submitted for New Midtown Mixed-Use Tower (Atlanta, Savannah: real estate, apartments)

[tonygeorgia]

Application Submitted for New Midtown Mixed-Use Tower - Midtown, GA Patch

Additional Info http://www.bullrealty.com/xtras/brochure/3460-8885.pdf

It appears Midtown’s apartment building momentum could continue forward. Patch has learned that an application for a 285-apartment building constructed above a podium deck with ground-level retail space has been submitted to the Midtown Development Committee (DRC).The building would be located at 131 Ponce de Leon Avenue, which is at the corner of Ponce and Juniper Street. The current structure there is the 38,000 square-foot, two-story glass, marbled brick “Pei” Building, named after its architect, IM Pei.

Since last year, Atlanta-based Bull Realty has been marketing a 2.5-acre property, including the 131 Ponce location, that is bounded by Ponce, Piedmont Avenue, North Avenue, and Juniper that comprises nearly an entire city block. On its website, Bull Reality says the property is approved for 1.4 million square feet of mixed use or commercial development. A message left by Patch with Bull Realty has not been returned at this time.

[cwkimbro]

Is it better than whats there? Yes.

Is it high density? Yes.

Will it help assist demand for ground level retail in lower midtown: Yes.

Can the street capacity handle such a large project? Yes.

Is it near a subway station? yes.

Can it promote live, work, play in lower midtown? Yes.

As long as it matches midtown's CID design requirements, etc... I say rubber stamp it.

[tonygeorgia]

I'm surprised this project is in South Midtown. I thought most the growth would be between 6th and 14th streets. I wish they would build more "regular" apartment towers instead of all luxury apartment towers to balance everything out

[arjay57]

Originally Posted by tonygeorgia

I'm surprised this project is in South Midtown. I thought most the growth would be between 6th and 14th streets. I wish they would build more "regular" apartment towers instead of all luxury apartment towers to balance everything out

This will take good advantage of the South Midtown Pedestrian & Circulation Improvement Project.

http://www.midtownalliance.org/South...lan%20(LH).pdf

[engagementrings12]

Nice post. Thanks

Block Rubber Stamps

[Newsboy]

Thanks for posting the real estate PDF brochure. I had no idea that SCAD had acquired the old Ivey Hall / Mansion Restaurant property. That's fantastic! And am I reading the maps right, that the old church building that forever housed the upscale Abbey restaurant is a church again? WOW!

Glad to see that SCAD is already making it's mark on preserving historic Atlanta just as it has saved so much of Savannah. Everything those people touch turns into pure gold! What other intown properties might they have their eyes on?

[Mishap]

Are they keeping the I.M. Pei building? It's not exactly beautiful but it's one the first buildings attributed to him so I'd think it qualifies for preservation. Doing the math, it sounds like there's not a ton of room to bring in 285 apts w/ parking. I'd think it'd have to be 15-20 stories w/ parking podium in that ~2 acres. The renderings in the brochure showed towers over the Pei building.

[noah]

Keep in mind the renderings were for the old plan (medical offices, hotel etc) so most likely the new plans will be quite different. As a resident in the neighborhood it will be great to see the bldg directly south of the Pei building removed as its an eyesore in its current condition. The article seemed to suggest, if redeveloped, that the Pei building would be torn down but at this phase I am sure nothing is final. Between this block and the next block towards Peachtree (essential an empty field right now) things could look a lot different in 5 years.

Interesting that both properties had plans in place and public for massive development before the market went south.

For midtown as a whole the continued demand and buildings going up appear to be a good sign for filling all the retail space as more and more residents will be added to what is already one of the most dense neighborhoods in the region. Already I see several new businesses open or getting ready to open on the peachtree corridor.

[cqholt]

Great to see dense residential projects coming back to the urban core. I've seen the work underway at the Fox Theater plaza and it will compliment the area tremendously.

[tonygeorgia]

Anybody think they will build any highrise apartments that aren't luxury?