Atlanta has gone apartment crazy over the past year, with dozens of complexes in the works, just announced or looking for funding.
A recent survey by Rent.com and FlatRate Moving indicated that Atlanta was No. 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.
Below is a progress report on some Buckhead apartments under construction and “projects to watch” that might become reality or remain a pipedream.
Novare broke ground in March for this 26-story, 362-unit complex at the corner of Peachtree and Stratford roads. Completion is expected in early 2015.
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.
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 under way for the 370 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.
Located at 1391 Collier Road in Buckhead, the 184-unit building has creek-side apartments and a big dog park. Some units are expected to be open soon, while the majority will open this summer.
Projects To Watch
Simon Properties plans to build 320 luxury residential units, a 164-room hotel and a luxury storefront adjacent to the Buckhead mall.
A six-story, 375-unit complex has been proposed for Buckhead Avenue near the Buckhead Atlanta development.