Midtown Alliance relays this week that 17 projects are under construction right now across the core business district, and one of them is growing more visible by the day along Atlanta’s signature street.
Among Midtown’s taller residential structures actively in development is Greystar’s 33-story apartment venture at the corner of Peachtree and 17th streets. A construction crane lords over the 1382 Peachtree Street site today, where the building has its retail footprint in place and the third floor is being installed.
Charleston-based Greystar initially unveiled plans for a Midtown high-rise in March 2020, just before pandemic lockdowns. The project—situated a block north of the High Museum of Art—eventually broke ground in May last year, clearing away three stories of existing buildings in preparation for going vertical.
Razed structures included the former Big Brothers Big Sisters of Metro Atlanta headquarters, which had incorporated a 1382 Peachtree Street residential building that records indicate was more than a century old.
Greystar’s project will include 282 apartments, ranging from studios to three-bedroom penthouses. Also in the works is 5,000 square feet of retail space at street level, Greystar reps previously told Urbanize Atlanta.
Beyond the retail component, base levels of the building will include roughly 300 parking spaces in a podium structure. It’s all expected to deliver in spring or early summer 2023.
Big Brothers Big Sisters of Metro Atlanta, meanwhile, has moved its operations to The Met industrial warehouse complex in Southwest Atlanta, where developer Carter has undertaken extensive renovations the past few years. The move puts the organization closer to much of its client base, officials said.
Greystar paid $8.3 million for the property—more than twice what it had last sold for in 2011. Cha-ching.
Greystar’s multifamily portfolio in Atlanta includes Station R apartments in Reynoldstown, Elan Lindbergh, and Elan Westside on 14th Street at Howell Mill Road. More recently, the developer unveiled the upscale Ascent Peachtree downtown, where rents climb as high as $6,500 monthly.
Beyond Greystar’s Peachtree Street apartments, a dozen new residential projects are actively in construction around Midtown, ranging between 12 stories (two-pronged Novel Midtown) to 36 stories (Momentum Midtown). Other in-progress towers will see office, hotel, and medical uses.
See where things stand at the high-profile corner of Peachtree and 17th streets in the gallery above.
• Recent Midtown news, discussion (Urbanize Atlanta)