Demolition is in the works to set the stage for a multifamily project that could bring 50 new homes near Ponce City Market where one stands today, according to paperwork filed with the city.

City of Atlanta Office of Buildings records show developers have filed for residential demolition permits this week at 495 North Ave. to clear away a home and shed “in preparation for [a] new 50-unit multifamily development” along the main east-west intown corridor.

Exactly who the development team includes isn’t specified. But the address matches that of a project listed as coming soon on the website of Atlanta-based company AAI Development, the firm behind a new row of modern townhomes near East Atlanta Village and other local residential projects.

Fulton County property records show AAI bought the North Avenue home for $1.3 million in March last year.

Inquiries with Bull Realty, the company behind the property’s marketing package, were not returned as of press time. 

The building elevation that would face Ponce City Market, with North Avenue frontage depicted at right. Courtesy of Bull Realty

Bull Realty officials told Urbanize Atlanta in November last year plans call for a seven-story, modern-style building to stand near the intersection of North Avenue and Boulevard. Whether the building would offer apartments or for-sale condos wasn’t known at the time.

Located about two blocks up a steep hill from Ponce City Market, the .43-acre property is currently home to a 1920s bungalow, according to Fulton County property records. The marketing team said the property had already been properly rezoned for multifamily development last year.

Renderings call for a unique design with wedge-shaped balconies over North Avenue, topped by a large deck with furniture zones, a small dog park, and what's described as “incredible city views.” Balconies would stair-step down in the back. No retail is in the mix, but a glassy lobby area would front the street.

Plans for North Avenue street frontage. Courtesy of Bull Realty

Plans for the seven-story building, which would be set upon 38 parking spaces. Courtesy of Bull Realty

The 65,400-square-foot building would sit atop a two-level parking deck with 38 spaces, largely masked from public view, per the development plans.

Units in the building would range from studios up to a handful of three-bedrooms. Cited as perks are the property’s “Walker’s Paradise” Walk Score of 90 (hills included) and proximity to Piedmont Park and the BeltLine.

Should the project materialize, it would mark the latest example of infill development planned to replace a variety of uses near PCM, a historic Old Fourth Ward landmark turned adaptive-reuse tourist attraction.

Courtesy of Bull Realty

The existing 1920s home at the 495 North Ave. property (at right), as seen in 2022.Google Maps

The residential building would rise across the street from where a dog boarding facility revealed plans in 2022 to remake a vacant medical facility into a contemporary kennel. Also across the street, developer Braden Fellman Group fenced-off the former Pinnacle Credit Union site last year for a potential mid-rise venture.

Immediately east of the 495 North Ave. property, the Novel O4W apartments opened several years ago. And around the corner on Boulevard, Wingate Companies is moving forward with an 88-unit affordable housing complex next to an Amoco gas station.

In the gallery above, find more context and project renderings for 495 North Ave.

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