In the eyes of at least one developer, Atlantic Station's efforts to revamp the property into a safer, family-friendlier destination with more local retailers and desirable restaurant/bar options has upped its desirability as a place to call home. (Two cents: The blaring country music from sidewalk sound-systems smacked as blatant). The changes are largely responsible for luring a $45 million project that could break ground early next year. Pollack Shores Real Estate Group is adding a 329-unit apartment building — to be located on three acres next door Atlantic Station near Georgia Tech's golf practicing range — to a crowded pipeline of apartment projects, many dotted around Midtown. The Atlanta Business Chronicle reports that a company leader developed roughly 1,800 residential units at Atlantic Station — before the market crashed and hordes of loitering teenagers filled the AS streets.
After key pieces of the live-work-play behemoth were sold to North American Properties and GBRE Global, rental rates climbed back to $1.40 a square foot, or more than $1,360 for a 959-square foot apartment, the newspaper found. "This is once again becoming a very desirable place to live," a Pollack leader told the ABC. The apartments join more than a dozen multifamily intown projects — from Midtown West to Buckhead to a bevy of new properties in the Old Fourth Ward that include an offering from North American Properties — in various stages of development.
· Apartment project planned near Atlantic Station [Atlanta Business Chronicle]
· More Apartments En Route At Historic 4th Ward Park [Curbed Atlanta]