By Collin Kelley
The Emory Point development on Clifton Road has proven to be a success with the university crowd with its eclectic mix of retail, restaurants and apartment homes. So successful that a second phase is set to break ground in September.
Gigi Giannoni with Gables Residential, which developed the apartments along with Cousins Properties, said phase two will feature 300-plus luxury apartments and an additional 40,000-square-feet of retail space.
The current apartments are more than 75 percent leased, Giannoni said of the one, two and three-bedroom apartments on offer. Residents enjoy amenities such as a saltwater pool, state-of-the-art fitness center with free aerobics classes, outdoor spaces, not to mention the retail and dining options just outside their front door.
Darryl Bonner with Cousins said there is currently 80,000-square-feet of retail and restaurants onsite, including clothing stores like Jos. A Bank, Fab’rik and American Threads, and eateries like Strippaggio, Tin Lizzy’s, BurgerFi, La Tagliatella and Marlow’s Tavern. There’s also a 24-hour CVS pharmacy in the development.
“It’s safe to say that phase one has exceeded our expectations across the board,” Bonner said of Emory Point. “The Emory/CDC submarket clearly had a lot of pent up demand for both Class-A apartments and retail.”
Bonner said the tenant mix for phase two will continue to be diverse, with additional restaurants, national fashion retailers and local boutiques. “We also are exploring the possibility of adding a larger single-user for this phase,” he said.
“With mixed-use projects, it’s about quality of life and convenience,” he said. “People are increasingly inclined to rid themselves daily inconveniences – like long commutes, gas expenses and inefficient use of time in general – to become part of a true live, work, play environment.”