A long-planned, high-rise residential project in Midtown could share a curious connection to the house where great American novelist Margaret Mitchell penned much of the novel Gone with the Wind.
According to SaportaReport, the Margaret Mitchell House, built at 979 Crescent Avenue at the end of the 19th century, is selling some of its abundant development rights to 1138 Peachtree Street, a property down the road where a 46-story apartment tower has been proposed by developer Trillist.
In zoning lingo, that means the Margaret Mitchell House has the right to develop just over 3.5 acres of residential space—something that’s not going to happen anytime soon at the historic site, per the publication.
Since those rights are essentially useless, the property can yield them to another: In this case, the rights to develop about 154,000 square feet—or an additional 100 apartments—could go to the Trillist site.
This won’t be the first time the historic home has transferred a portion of its rights amidst Midtown’s construction frenzy.
The house has shared almost 171,000 square feet of residential development rights since 2013, SaportaReport noted.
Once the pending transaction is carried out, the house will still have the ability to transfer more than 52,000 square feet of residential development rights.
Earlier this month, Trillist presented to Midtown’s Development Review Committee its latest plans for the 1138 Peachtree project, which is slated to ascend more than 550 feet—potentially ranking it among Atlanta’s top 15 tallest buildings.
It would also be one of the tallest built in more than a decade.
In the works since 2013, the project would feature more than 300 luxury apartments and roughly 10,000 square feet of ground-level retail space fronting Peachtree Street and Crescent Avenue, according to materials presented at the DRC meeting.