Look out for Tesla-specific parking spots and rent prices reflective of Buckhead’s upper crust.
That’s what’s slated for development at 340 East Paces Ferry Road—a block from The Shops Buckhead Atlanta and traffic-clogged stretches of Peachtree Road—in the posh neighborhood, thanks to Chicago-based investor CA Ventures, according to CoStar News.
The developer is aiming to build a 22-story, 225-foot apartment tower, complemented by more than 16,000 square feet of retail space.
More than half of the 408 units are expected to be studios and single-bedroom units, and rent prices would start around $2,000 and could run up to more than $3,000. The average apartment would span around 980 square feet.
The tower, being designed by Atlanta architecture firm Niles Bolton Associates, would also flaunt 124 parking spaces for electric cars—some of them reserved for Teslas specifically. (Sheesh!)
The project, as CoStar notes, represents a “flurry of multifamily development in the past five years” in Buckhead, with multiple, similar rental projects coming together nearby.
Earlier this summer, construction began on the Modera Prominence development down the street, which is expected to bring 319 apartments and 21,000 square feet of retail space.
- Chicago Developer Plans Atlanta Apartment Tower [CoStar News]