There's no stopping (or even slowing) progress in Midtown. The rapidly changing neighborhood's Development Review Committee (DRC) approved two more mixed-use developments at this week's meeting. The first, located at 1330 West Peachtree Street, will give the dated concrete Arthritis Foundation office a much-needed modern makeover. The plan calls for 98 apartments and 5,000 square feet of street-level retail/restaurant space. The project is being handled by Urban Realty Partners with design by architecture firm PRAXIS3. Currently, 68 percent of the 89,000-square-foot building, built in 1955 and last renovated in 1997, is leased. The project will fall into one of Midtown's "Opportunity Zones," which provide a tax credit of $17,500 for each job created. (See map below.)
The second newly approved development, which spells the end of the Midtown Checkers (bye-bye, burgers), is about half a mile down the road at 1010 West Peachtree. After heeding the DRC's June advice to hide the parking deck behind the retail rather than making it visible from the street, The Hanover Company presented a revised plan that won enthusiastic approval.
The Houston-based developer will build a six-story complex with about 328 residential units and 14,600 square feet of street-level retail fronting 10th Street. The DRC was particularly delighted by the retail component, which it said is "well integrated into the project and located on an emerging retail corridor anchored by Georgia Tech on the west and Piedmont Park to the east." This project is also inside an Opportunity Zone and will earn tax credits for job creation. Cha-ching!
· More mixed-use development on tap for Midtown [MidtownATL.com]
· More Mixed-Use Mania On Tap For White-Hot Midtown [Curbed Atlanta]
· Midtown DRC approves two projects along West Peachtree Street [Saporta Report]