Renters’ Market: Apartment boom continues Intown

Atlantic 16 near Atlantic Station in West Midtown.
Station 16 near Atlantic Station in West Midtown.

By Collin Kelley
INtown Editor

Atlanta has gone apartment crazy over the past year, with dozens of complexes in the works, just announced or looking for funding.

Last month, a survey by Rent.com and FlatRate Moving indicated that Atlanta was number 3 for the fastest growing cities for renters in the country (New Orleans and Austin were 1 and 2, respectively).

While Atlanta went through a boom and bust in condos before the recession, the need for apartments in the ever-growing city is likely not to diminish anytime soon. There’s also been rent creep, with studios and small one-bedrooms in prime areas (Ponce City Market, the Atlanta BeltLine) now well above the $1,200 range.

For this feature, we’re offering a progress report on apartments under construction and “projects to watch” that might become reality or remain a pipedream.

Progress Report

AMLI Ponce Park
AMLI’s newest complex, featuring 305 one-and-two bedroom units, is at 641 North Ave. just steps from the BeltLine. It’s expected to open in July.

Bohemian House
Dubbed BoHoO4W, the 276-unit one-and-two bedroom apartment building at 477 Wilmer St. (off Glenn Iris Drive) held its grand opening in May.

The Flats at PCM
The exclusive 259 residential units at Ponce City Market building in the Old Fourth Ward include original details such as steel sash windows, exposed ceilings, architectural columns and European-style kitchens. Leasing is underway and move-ins are expected to begin in the fall.

755 North
The latest development from Perennial Properties is being built on a hillside above The Masquerade and adjacent to the BeltLine at the corner of North Avenue and Somersett Terrace. Move-ins are expected to begin at the 228-unit building in August.

Atlanta Daily World
Atlanta Daily World

Atlanta Daily World Building
Gene Kansas Commercial Real Estate has announced it will renovate the historic Atlanta Daily World newspaper building on Auburn Avenue into apartments and street-level retail. The apartments could be ready by fall.

Alexan at Krog Street
Trammel Crow Residential is building this 222-unit apartment building on the Eastside Trail of the BeltLine adjacent to the Stove Works. The apartments will be completed in summer 2015, and you’ll be able to walk across the street to Krog Street Market.

Inman Quarter
The project formerly known as 280 Elizabeth Street is under construction in Inman Park. The mixed-use development will have 200 apartments and some of them are expected to be available for move-in this fall.

131 Ponce
Part of the historic Gulf Oil Building, designed by famed architect I.M. Pei in 1949, will be incorporated into this 280-unit apartment complex located between Piedmont Avenue and Juniper Street. The project is under construction and could be open by the end of summer.

SkyHouse South (100 6th Street)
Originally known as 100 6th, Novare Group christened the 23-story, 320-unit building as one of its SkyHouse properties. The building opened in March.

University House
Georgia Tech students who want to move out of the cramped dorms will have a new option in Fall 2015 with this 17-story high rise going up at 930 Spring Street.

Collier Lofts
Collier Lofts

Collier Lofts
Located at 1391 Collier Road in Buckhead, the 184-unit building has creek-side apartments and a big dog park. Some units were expected to be open by press time, while the majority will open this summer.

33 Peachtree Place
Wood Partners applied for development permits in May for the 19-story, 343-unit building, which will have ground level retail.

Station 16
The 317-unit development just broke ground at the corner of 16th and Mecaslin Street near the IKEA store at Atlantic Station. The building could be ready by early 2015.

Morningside
Fuqua Development has demolished the old Rock Springs shopping center and Taco Cabana restaurant at the corner of Piedmont and Cheshire Bridge roads for a new mixed-use development currently called Morningside. The 6-acre property will have 300 apartments and 44,000 square feet of retail space including anchor tenant Sprouts Farmers Market.

SkyHouse Buckhead
Novare broke ground in March for this 26-story, 362 units at the corner of Peachtree and Stratford roads. Completion is expected in early 2015.

Crescent Terminus
Pre-leasing is underway for the 355-unit luxury apartment complex in the Terminus development at the corner of Peachtree and Piedmont roads in Buckhead.

1000 Park Avenue
Developer John Kusmiersky is proposing at new luxury condo tower called 1000 Park Avenue, which would mirror the existing 750 Park Avenue tower in Buckhead. The 39-story building on Wieuca Road near Phipps Plaza would contain 200 units.

Camden Paces
The largest project currently under construction is Camden Paces on East Andrews, a 376-unit complex being developed by Camden Property Trust. It’s expected to open later this summer.

The Residence Buckhead Atlanta
Pre-leasing is underway for the 370-unit high-rise luxury apartment homes located at the Buckhead Atlanta project. The two 20-story towers rise more than 200 feet and feature floor plans ranging from 692-square-foot studios to 1,997-square-foot, three-bedroom penthouses. Move-ins begin in the fall.

Crescent Howell Mill
The five-story, 256-unit luxury apartment community between Buckhead and Midtown will open in spring 2015. The 2.2-acre site is adjacent to future restaurant and retail development on Howell Mill Road at the intersection of Collier Road.

Place on Ponce
Place on Ponce

Emory Point Phase II
Gables Residential and Cousins Properties have begun construction on Emory Point Phase II – a mixed-used development on Clifton Road near Emory University and the CDC campus. Phase II will include an additional 40,000 square feet of retail and restaurant space and 307 luxury apartment homes. The development is scheduled to be completed spring 2015.

The Place on Ponce
This 28-unit building with a fitness center, clubhouse, bike shop and dog spa is set to open this fall at 315 West Ponce de Leon Ave. in Decatur

Projects To Watch

 1163 West Peachtree
Novare wants to build a 31-story building with 400 apartments and 10,000 square feet of retail at the corner of 14th and West Peachtree streets.

182 10th Street
Atlanta Realty Partners has pitched a multi-building, mixed-use project to Midtown’s Neighborhood Planning Unit-E for the empty property on 10th Street near Piedmont Avenue. The development would feature a16-story building with164 condos, a 24-story apartment building (that would actually face 11th Street) with 284 units and a five-story structure with 46 apartments.

AMLI Arts Center
AMLI Residential wants to build a 30-story tower with 351 units on West Peachtree at 15th streets that was originally planned for Trump Towers Atlanta.

Post Midtown Millennium
A proposed 25-story tower with 321 apartments would open on 11th Street behind the Federal Reserve in Midtown.

98 14th Street
There are plans for a massive three-tower project on the site that was going to be home to a new symphony hall. There would be 1,300 residential units, a 340-room hotel and 90,000 square feet of retail.

60 11th Street
A 20-story apartment tower has been proposed as part of the 12th & Midtown development. Daniel Corp and Selig Enterprises hope to break ground this fall.

Peachtree Midtown
Two towers have been proposed on Peachtree Street between 12th and 13th streets – one would have 350 apartments and the other 180 condos.

6th and Peachtree
6th and Peachtree

6th and Peachtree
The Integral Group has proposed a futuristic-looking 35-story, 400-unit apartment building that would anchor 25,000 square feet of retail.

Yoo on the Park
The 25-story tower at 207 13th St. would feature an unknown number of apartments.

Poncey-Highland
Druid Hills Baptist Church is hoping to transform property behind the historic sanctuary at the corner of North Highland and Ponce de Leon Avenues into a mixed-use development with more than 100 apartments, office space and retail.

King Memorial Station
Walton Communities will build a mixed-use development of nearly 400 apartments and 13,000- square feet of retail next door to the King Memorial MARTA station. The roughly four-acre property sits behind the transit station and is currently a parking lot.

Reynoldstown
The to-be-named 285-unit property from Elan will be located across from the Edgewood Retail District on Moreland Avenue. As with most new developments, there will also be retail on the ground floor of the five-story building. It wouldn’t open until early 2016.

Scott Boulevard
Fuqua Development finally received approval to build a mixed-use development on the site of Scott Boulevard Baptist Church. Demolition on the site is expected to begin in August and the project will include apartments and townhomes.

Phipps Plaza
Simon Properties plans to build 320 luxury residential units, a 164-room hotel and a luxury storefront adjacent to the Buckhead mall.

Buckhead Avenue
A six-story, 375-unit complex has been proposed for Buckhead Avenue near the Buckhead Atlanta development.

 

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