A wave of foreclosure proceedings for high-profile intown properties will include a Midtown site where an array of uses was planned around a historic, renovated apartment complex as lenders continue to tighten leashes, according to Fulton County filings.

Atlanta developer Tenth Street Ventures planned an L-shaped, mixed-use building for 1450 W. Peachtree Street that had been drastically revised following pushback from historic preservationists and Midtown development arbiters.

That property, home to a vacant low-rise office structure called the Master Mind Thinker Building, is now scheduled for a Nov. 7 auction on the Fulton County Courthouse steps, according to recent filings made by lender Longline Financial.

A $9-million loan pertaining to the .31-acre property with a one-year balance was originated in March 2022, according to filings. The foreclosure proceedings also include .22 acres behind the Master Mind building that front 19th Street.

Tenth Street Ventures leadership has not responded to an inquiry about the viability of its proposal.

Revised plans for the mixed-use project at the corner of West Peachtree and 19th streets, with the neighboring historic apartments pictured at bottom. Courtesy of Tenth Street Ventures; designs, Blur Workshop

Fulton County property records indicate the West Peachtree Street property last sold for $6.45 million in March 2022 to an LLC called TSV Mastermind.

Records indicate the adjacent parking lot along 19th Street is also owned by TSV Mastermind.

The project went back to the drawing board and reemerged in January with three fewer stories—from 20 to 17 floors—but still a variety of planned uses. Earlier plans for converting the Master Mind Thinker Building were also scrapped at that time in favor of tearing it down.

The mix of apartments, hotel rooms, offices, and commercial space was expected to rise over three major Midtown streets (West Peachtree, Spring, and 19th streets), sharing a small block with the historic Winnwood Apartments.

At last check, the number of proposed residential units had dropped by 32—from 171 to 139—while commercial, retail, and restaurant spaces were also reduced.

Other components included 149 flexible-stay hotel rooms, 6,600 square feet of coworking space, a small café, and public fitness center spanning 5,000 square feet.

The Master Mind Thinker Building today, at left, and the historic Winnwood Apartments at right. Google Maps; Urbanize Atlanta

Courtesy of Tenth Street Ventures; designs, Blur Workshop

Tenth Street Ventures principal Brian McCarthy told Urbanize Atlanta in January the project was expected to cost roughly $100 million and that talks were ongoing with several potential financing partners. The goal at the time, McCarthy said, was to break ground within a year.

Next door, the circa-1931 Winnwood building’s 50 fresh apartments came online earlier this year as micro studios and one-bedroom units, renting for $1,987 monthly and up.   


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