Between the bustle of Midtown’s booming rental market, and the in-demand Eastside Trail district near Ponce City Market, stands a corridor that’s been relatively unaffected by the rampant gentrification happening around it.
That could soon begin to change, on a large scale.
Bisnow reports that Duluth-based multifamily developer Dezhu U.S. Investment Inc., which is also working on Castleberry Point, has plans for four projects along the Boulevard and Parkway Drive corridors, between North and Angier avenues.
Plans call for a vacant lot at the corner of Boulevard and Boulevard Place—just three blocks from Ponce City Market and Historic Fourth Ward Park—to be transformed into a 144-unit apartment development.
Across the street, next to the Fort Street United Methodist Church, another 30-unit apartment building would rise.
On an adjacent lot, facing Parkway Drive and a neighborhood park, a 100-unit apartment building is proposed.
Finally, a 14-unit “high-end” townhouse project is being pitched a few blocks south, in a west-of-Boulevard flank that has seen recent residential activity.
Collectively, the projects could bring more than 280 homes to the district.
Dezhu indicates that rents in the buildings will target around $2 per square foot. While lower than Midtown and Beltline average rents, the rents are still far from “affordable,” by Atlanta standards. One-bedroom options are expected to average 700 square feet, meaning many units will go for $1,400 or more a month, per Bisnow.
Amenities will rival new developments in other parts of the city, including roof gardens, two-story underground parking structures, with two storefronts catering to businesses, and other supporting facilities.
While the developer’s Castleberry Hill project includes 20 percent workforce housing, it’s unclear if any units will be earmarked as such in the new developments.
Here’s more info on each project:
The largest of the four projects would offer 144 apartments. Amenities will include ground-level retail, roof gardens, and two stories of underground parking. Construction is slated to begin in the spring, with completion targeted for 2019.
This development includes 30 apartments and features a roof garden and underground parking. Construction is slated to begin by the end of the year, with completion expected by fall of 2018, per developers.
The second large apartment building of the four developments, this 100-unit proposal would include “parking lots.” The construction schedule—which isn’t very believable—indicates that work will begin soon and be done by the summer.
The smallest of the four developments, the project would entail just 14 townhomes. Like the apartment buildings up the street, the construction timeline is listed at an optimistic six months, with completion slated for the second quarter of next year.