A long-vacant lot across Lenox Road from Lenox Square may soon be filled with a 25-story high-rise apartment tower. Charlotte-based Crescent Communities, in collaboration with Preston Partnership, has pitched a project that would feature 352 units in a distinctive building with large protruding multi-story glass boxes, according to renderings from the Atlanta Business Chronicle. The building will contain studios as well as one- and two-bedroom units, according to BuckheadView, and will abut Oak Valley Road, leaving the front portion of the site along Lenox Road available for a future hotel between the existing Marriott and a Firestone tire store.
The building would be just a block from Lenox MARTA Station and would begin to fill in one of many vacant blocks bounded by Lenox, East Paces Ferry, Roxboro and Kingsboro roads. At 25 stories, if built as proposed, it will be one of the tallest buildings in the super-block, matching the height (at least in terms of stories) of the currently rising AMLI City Place development, which is anchored by a new neighborhood park.
With the AMLI units quickly rising and others opening, Crescent Lenox could be joining an already flooded market. In the last few months alone, three new high-rise apartment projects have opened in the area, and at least one more is planned. (Not to mention the beaucoup construction activity near the Buckhead Village). Either a lot of new renters are en route to Buckhead, or prices are going to start coming down.
· Crescent Communities plans 25-story apartment tower close to Lenox Square [Atlanta Business Chronicle]
· Crescent Communities to build 25-story apartment tower off Lenox Rd. [BuckheadView]