Could it be a sign that competition for Atlanta's most prized renters is heating up when developers start bombing off press releases to announce official site-work launches and milestones like "commencement of above-ground construction"? Either way, it makes watching this (rental) space race a little more compelling. The latest press-release update this week comes from 13th Street in Midtown, where YOO on the Park is popping bubbly about officially bringing the 25-story luxury tower above ground right now. In February, you may recall, a dignitary-packed YOO groundbreaking ceremony attended by Mayor Kasim Reed and others marked the beginning of ceremonial dirt disturbance. In this week's release, Scott L. Leventhal, president and CEO of developer Trillist Companies, isn't shy with bold statements: "(The project) will be one of the most significant residential properties in the region, featuring the world-class design and amenities found in international cities such as New York or Miami while offering residents the best that Atlanta has to offer."
Interestingly, the press release is the second this week to mention expansions at Technology Square and how NCR Corp.'s new headquarters could channel some 4,000 jobs to Midtown. Leventhal also points to YOO's proximity to Fortune 500 giants like Coca-Cola, UPS and Home Depot, and Google's planned data center expansion in Atlanta. Says the developer: "We anticipate continuing increased demand for quality housing for the discerning consumer as the employment base grows."
YOO on the Park expects to top out in the spring, with leasing lauching soon thereafter. Jet-setting tenants should be resting their heads at YOO by late summer 2016, officials said.
So what exactly will YOO give you?
Expect 245 apartments — studios to two-bedroom units — and about enough street retail space (1,070 square feet) for a smallish coffee shop. Trillist describes the building's perks as follows: "YOO on the Park will feature state-of-the-art amenities such as a resort-style pool, Italian cabinetry, contemporary stainless steel appliances, fully equipped 24-hour fitness center, outdoor exercise terrace, resident concierge, smart-home technologies and more."
· Can YOO Project Raise the Bar for ATL Apartment Towers? [Curbed]
· Midtown's Next Swanky Rental Tower Officially Launches [Curbed]