Ring the death knell for another Midtown parking lot. Construction is officially under way on a 369-unit residential and retail development that will consume a four-acre parking lot on West Peachtree Street and bring another living option to the heart of Midtown. This week, developer Wood Partners announced that 33 Peachtree Place should be complete by the third quarter of 2016, offering 20,000 square feet of retail, "some of the best views of Midtown" and a 1/2-acre private park. The $100 million project will include high-rise and mid-rise apartments at Peachtree Place and West Peachtree Street, the longtime home of a gaping asphalt sea that served the 10 Peachtree Place building. "Our goals for 33 Peachtree were twofold: Develop a community that blends in seamlessly with the surrounding community and create homes that will appeal to a variety of different types of residents," Bennett Sands, Wood Partners director for projects around the Southeast, said in a release. The developer points to a recent groundswell in Midtown's population and job growth as evidence the submarket is still underserved with housing stock.
At its apex, 33 Peachtree Place will rise to 21 stories, with units broken down to 39 studios, 196 one-bedrooms, 129 two-bedrooms and five top-level penthouse suites. According to Wood Partners' numbers, Midtown's eclectic population has swelled by 105 percent since the year 2000 — from 17,000 residents to 35,000 in 2010. The area, they claim, is projected to gain another 17,000 people by 2016.
As for amenities, developers are promising quartz countertops and stainless steel appliances in the 33 Peachtree Place units. Outside, residents can expect a dog-friendly resident park that spans for a ½ acre and a "resort-style" pool deck with clubrooms. Wood Partners also seems proud that the building will be Atlanta's first to be powered by natural gas for heating, cooling, water and cooking.
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