Developers file permit to erect fourth high-rise at Midtown development.
The mixed-use development on 12th and Peachtree Streets in Midtown is nearing completion.
The owners of 12th & Midtown, a $1 billion mixed‐use development, filed a second permit with City of Atlanta Monday to erect the development’s fourth high‐rise tower, phase 3 of the project. Its owners filed a permit in September to develop the land the tower will stand on.
In addition to the $4,700,000.00 to develop the land, the estimated cost to erect the new Midtown tower is an additional $36,155,000.00, according to Monday’s permit.
12th & Midtown’s owners, Daniel Corporation, a real estate development, acquisition and management organization and Selig Enterprises Inc., an Atlanta‐based real estate firm, have partnered with Northwestern Mutual, to build the new upscale apartment high-rise — a 23‐story mixed‐use tower, “aptly” named 77 12th Street, according to a press release.
Northwestern Mutual is the team’s equity partner and lender for the new phase, according to the release.
77 12th Street will join 1010 Midtown, Loews Hotel and 1065 Midtown on the 12th & Midtown campus.
For more details about 77 12th Street and to see renderings, click here.
17 Responses
Wait, is the permit for the apartment tower or the office building? Because the rendering you posted is of the office building for the empty lot on Peachtree… it is not the apartment building.
hi mike, you are correct. the rendering we had posted was for phase 4. we’ve updated the image to reflect phase 3 — 77 12th Street apartments. thanks for bringing that to our attention.
–cjs
When this was first announced the start of construction was this fall. Do you know when the estimatited timeframe is now? Since Ive been following new construction and the Beltline the last couple of years Ive learned that start and completion dates are always delayed. I walked by this corner on Sunday just to see if construction had begun. Man, this area is dead and needs a shot in the arm.
The construction costs of 77 12th St. are not much more than Novare’s planned Skyhouse apartment tower on W. Peachtree.
Sorry Caleb but this is another map miss. The pin should fall at Crescent and 12th, just below the “NE” where the current map says, “12th St NE”. Only about 3 1/2 blocks off, but still pretty incorrect.
hi literal ed, thanks for your comment. the map has been updated — we’ll double check addresses moving forward.
–cjs
I’m not sure Chris knows where this is…dead? Ri Ra and Ra are across the street, STK, and their Italian concept the next block up as well as CB2. Front Page News, Tin Lizzys, and countless other bars and clubs on the next block. Friday and Saturday night you can barely move down the street its so packed. Dead is hardly what I would use to describe that area especially relative to the rest of Midtown.
@Midtowner. I know exactly where this area is. I frequent the places weekly. Besides Friday and Saturday, most of these places are pretty dead any other day. Go to Ri Ra on a Wednesday and there is hardly anybody in there. Same goes for Front Page. And Deadwood Saloon just sucks ass. The only place that I’ve seen that is consistently busy is Tin Lizzy. Anyway, what I was getting to is that it’s relatively dead compared to places like Inman Park or the Highlands. This corner 10 years ago used to be very busy any night of the week.
Bottom line is this new tower will bring in much needed bodies to fill in the local establishments and that is great news!
Also, the apartment tower is technically phase 4. Phase 3 is actually the office building which is of course delayed. This may be the reason for the confusion.
They are also planning a second residential tower down the road on the same block, directly across from the Federal Reserve.
“down the road” = at some point in the future
@ Chris – Agreed. For Atlanta’s most “urban neighborhood” it’s dead 5 days a week. Having a bunch of bar & restaurant traffic two nights a week doesn’t make the area a vibrant urban area. However, as some highly intelligent people have noted in the past, building apartments, and increasing the residential density of an area will do wonders for the vibrancy of the area. Now, if there was just a way to get those people to walk, rather than drive…
“However, as some highly intelligent people have noted in the past, building apartments, and increasing the residential density of an area will do wonders for the vibrancy of the area.”
Yeah, maybe thats why it is zoned for very high density residential (or high density residential/commercial, depending on the block) and has been since at least 2001, before you even moved here.
The best part about your “build moar apartments!!!” kick is that you think you were the first to think of it, or ‘highly intelligent’ for thinking of it.
“Now, if there was just a way to get those people to walk, rather than drive…”
Maybe only a few more months and you will come up with the ‘great, highly-intelligent idea’ of giving developers density bonuses for building close to transit stations.
@ dbag – Just more intelligent than those who argue against it. Besides, it was a joke…unbundle your panties and stop living up to your name.
@Urbanist; we’re not laughing with you, just at you. You’re a clown.
Amen!
More mid to high end rental please. We need foot traffic.