The demolition of a low-rise office building is setting the stage for another glassy residential tower in Midtown’s booming West Peachtree Street corridor.
Hanover Company is demoing a three-story commercial structure and one-level parking deck to make way for a 31-story apartment tower that will overlook MARTA’s Arts Center station in the 1200 block of West Peachtree.
The building previously housed the Holland and Knight law firm’s office daycare, among other uses. Permitting records peg the cost of demolition at $490,000.
No stranger to mixed-use apartment towers in Atlanta, Texas-based Hanover had planned to build 40 stories of rentals but modified plans earlier this year, opting for nine stories shorter on the same footprint.
At 31 stories, the Hanover project would be one story taller than the AMLI Arts Center apartments next door, which opened in 2017 with some of the highest rents (hello, $5,000/month penthouses) the subdistrict had ever seen for new product.
Hanover’s revised plans call for 421 apartments, with 426 parking spaces in a five-story deck. Just shy of 15,000 square feet of retail is planned for the building’s base.
Immediately to the north of the Hanover building, Midtown Alliance is working with the city to extended 15th Street to Spring Street.
That’s part of a larger plan to implement a Light Individual Transportation (LIT) lane to serve a growing number of pedestrians, bicyclists, and e-scooter riders in Midtown who would benefit from more east-west connectivity, per Midtown Alliance.
Elsewhere in Atlanta, Hanover’s previous developments include the Hanover Midtown tower between Peachtree and Juniper streets, the Hanover West Peachtree mid-rise, and Hanover Buckhead Village on Roswell Road.
• Recent Midtown news, discussion (Urbanize Atlanta)