A cluster of aging apartment buildings around the corner from Cheshire Bridge Road in Morningside/Lenox Park is set for an artistic upgrade that developers say won’t sacrifice affordability.
Tenth Street Ventures and Braden Fellman Group recently paid $42 million to multiple owners for 13 rental buildings from the 1960s and ’70s situated along Lenox Road.
Over the next 18 months, plans call for unifying and rebranding the disparate pieces—335 rentals across 12 and a half acres—as a single garden-style apartment community called “The Piet.”
The intent is also to preserve a large section of “working class” housing intown, developers say.
TSV’s Brian McCarthy tells Curbed Atlanta that, following interior renovations and amenities upgrades, rents will average less than $1,375 per month.
The development team is planning to build two pools, several dog parks, and walking trails, alongside other amenities such as bocce ball courts, putting greens, and more than a dozen grilling stations.
As with another TSV project in Midtown—the revised Studio9Forty apartments, with décor inspired by Studio 54—The Piet is expected to have a unique art bent.
Exteriors will be painted by artist Chastain Bernard, and they’ll aim to echo the “neoplasticism movement with visual compositions of vertical and horizontal shapes using only black, white, and primary colors to simplify and unify the buildings’ exteriors,” as project reps describe it.
McCarthy says the age of the apartment buildings will require maintenance and renovated kitchens and bathrooms.
“While residents will be able to stay through their lease—and we wish that all current residents could remain after their lease—we also need to help pay for improvement costs, which will increase rents,” he says. “So we’re offering a no-application-fee, no-deposit move to one of our other properties in the area.”
The same team has purchased three Decatur rental communities, including Adair Oaks, with plans to renovate more than 100 units there.
Also in Midtown, TSV recently bought a complex at the corner of Crescent and 13th streets. The building houses Sutra Lounge, Tin Lizzy’s, and 14 rentals above.
On the condo front, TSV remade a former 1924 rental community near Atlanta Memorial Park into Portico Buckhead, where 50 for-sale units start from $275,000.