Construction and behind-the-scenes property assemblage have been humming at Daniel Corp. and Selig Enterprises' massive 12th & Midtown project, a vital component of the "Midtown Mile" vision that would help transform Peachtree into the Magnificent Mile's southern cousin. The under-construction, 23-story 77 12th Street upscale apartment tower should be wrapped in May, hurried along by competing towers and apartment projects coming online or in the works. The Atlanta Business Chronicle reports the towers at 12th & Midtown could keep on rising.
Daniel and Selig have cobbled together an additional 4 acres within a five-block radius of the standing project, the newspaper reports. Additional properties are along Crescent Avenue, West Peachtree and Peachtree Street itself — and the companies have placed pending offers on even more land in the area. Construction could start by the end of this year, but more likely in 2014. There's reportedly dozens of rental commitments for the 12th Street tower that's not even topped out yet. What's more, we hear the 1010 Midtown tower closed 101 condos last year. Here's to hoping the future structures provide a little variety to all that glass. Maybe, you know, a four-story restaurant and drink complex with a beautiful public courtyard.
· Live, Work, Play at 12th and Midtown [Atlanta Real Estate Blog]
· 12th & Midtown is gaining ground [Atlanta Business Chronicle]