While reports are indicating that Atlanta isn’t heading into a bubble, news has been hinting that developers aren’t being too fast and loose this cycle.
Work is beginning on a new 262-unit apartment tower on Peachtree Road at Peachtree Battle in Buckhead, but What Now Atlanta reports that developer Branch Properties has scaled back the building from initial plans. Plans filed this week with the city indicate the building will rise just 17 stories — four shorter than originally anticipated. The amount of ground-level retail has also been dramatically reduced, from 30,000 square feet to under 6,500.
The reason for the scale change isn’t entirely clear and is likely some combination of neighborhood pressure and market response. The news comes after Pollack Shores killed a planned apartment building just up the road at Buckhead Village.
Branch Properties' yet-named building will replace an old Burger King, an antique store, and trendy furniture store Design Within Reach (which is moving to a new building on Howell Mill Road) on the northern edge of the Peachtree Battle Shopping Center.
Expect the land clearing to begin soon. So long, BK.
This article was updated to reflect that the developer is Branch Properties, not Brand Properties as originally published.
- PROPOSED PEACHTREE HILLS TOWER SET TO BREAK GROUND, NOW 17-STORIES TALL [What Now Atlanta]