Two highly visible parcels on Midtown’s Peachtree Street could become the sites of major residential development in the not-too-distant future.
The first is a roughly one-acre parking lot at 1138 Peachtree Street, a short walk east of Midtown’s massive new Whole Foods Market. It could see the ascent of a 46-story residential building branded as the neighborhood’s second YOO tower, according to the Atlanta Business Chronicle.
A tower project at the site, in many iterations—including a hotel concept that ended up in Buckhead—has been in the works since before the Great Recession. But the latest plans presented to the local Neighborhood Planning Unit appear to be showing signs of real promise.
The high-rise would stand roughly 530 feet tall and house 330 residences and some lower-level retail space at the corner of Peachtree and 13th streets, the paper reports.
That’d make it a little taller than Icon Midtown, which debuted last year, and the 16th tallest sky-rise in Atlanta.
Developer Trillist Co. is still shopping around for an investment partner, although the groundswell of development activity in the neighborhood could lend some credence to the concept’s feasibility.
The second major residential tower planned for the busy corridor—a roughly 300-unit apartment building that would be developed by Dallas-based firm StreetLights Residential—would be erected about a mile south of 1138 Peachtree, next to the century-old St. Mark United Methodist Church.
Also a one-acre site, the parcel is owned by the historic church, but StreetLights now has it under contract, the ABC reported.
The tower’s design—which was also just reviewed by NPU-E and could go before Midtown’s Development Review Committee by June—would not mimic the other glassy high-rises popping up in the area; rather, it would reportedly resemble the Gothic-style architecture of St. Mark’s, which was built in the early 1900s.
Streetlights’s portfolio does show a few larger projects with a more classical bent.
StreetLights’s proposed building could feature more than 200 studios and single-bedrooms, 75 two-beds, and 19 three-beds, with rents ranging from $2,200 to $5,000, according to the paper.