[All images via LRK.]
Downtown is poised to gain a few hundred more residents with the construction of a large apartment project near Centennial Olympic Park. Post Properties officially kicked off construction of the logically named "Centennial Park Apartments" with a groundbreaking this morning. The project will swallow two surface parking lots across the street from the World of Coca-Cola, infusing a little more urbanity into the heart of the city.
The project encompasses two buildings, straddling Simpson Street, which will include more than 400 units — from studios to three bedrooms — and some retail space along the street. Units will range from 537 to 1,356 square feet. Designed by LRK, the buildings are a fusion of traditional and contemporary styling. Development of the project will cost around $96 million, and according to an investment report, 10 percent of the units will be "workforce housing" with an average price of $1,090 per month, compared to the expected $1,620 per month for the market rate units.
· Post Properties Announces Fourth Quarter 2015 Earnings [Morningstar]
· Plans For 400 Rentals Could Lend Downtown More People [Curbed]
· Downtown Projects Score Cash Boost; 500 Rentals Planned [Curbed]