“Park and 12th luxury rentals” coming soon.
The abandoned property bordering Piedmont Park, at 1045 Piedmont Avenue, won’t sit vacant for much longer.
Hailey Realty Company, Inc. sold the property to an undisclosed developer in April.
“There will be an announcement shortly,” Reid Hailey, CEO at Hailey Realty said in an email to What Now Atlanta Thursday.
The building, now named “Park and 12th,” will become “in-town boutique apartments,” according to the apartment complex’s website.
Park and 12th will offer one and two bedroom apartments with luxury finishes.
The apartments will be available for rent as early as summer 2012.
Developing…
15 Responses
Can anybody explain why this parcel isn’t on the tax rolls (or if it is, where / how it is listed)? I’ve been trying to get the scoop on this location for a while, but couldn’t find any public info.
Also: Good scoop, Caleb.
JM: Its either listed as 0 piedmont ave (as some vacant properties are) or possibly another piedmont address or even maybe a 12th street address on the rolls. It might be Parcel ID: 17010600090529 which is listed as “vacant commercial” and looks right on the map, but I’m not sure about that exact street and google maps isnt always right.
I would go to:
Put in parcel ID: 17010600090529
Then click map, and you can see each lot listed by parcel ID (even if they have a 0 piedmont ave address) and then find your property.
Either way, the developer/investment group handling it is Collier International, of whom I know nothing about.
This was covered by Curbed Atlanta on 4/2/2012
http://atlanta.curbed.com/archives/2012/04/02/piedmont-avenue-mystery-building-going-rental.php
hi tammy, you’re good at searching the web. our story has updated info.
–cjs
I’ve been in touch with the Broker at Hailey Realty and they closed the sale on behalf of both parties (the bank and the buyer). I’m not sure where the information regarding Colliers International came into play, but I don’t know of any connections they have to the new owners or their future plans.
Anyway, the property has been current on its taxes for the last several years while Suntrust worked through their commercial foreclosures. The address associated with the parcel is 1029 Piedmont Ave, although there were some plot issues during the closing process that seem to be resolved. 1045 Piedmont is a much more logical address.
1029 Piedmont is the address of the condos (Piedmont Park West I) to the south of this property.
So the parcel ID was right, 17010600090529, which was foreclosed by Suntrust in 2010 for $4.5 million.
The LLC who bought the land is registered at the same address as Collier International and the signatoree on the documents is Colin Cavill’ (also see the message on the website, signed ‘All the best, Colin’) who is a VP at Colliers, although I assume it could be an independent project or a big coincidence (unlikely).
I’m not so sure about the property having been current on taxes the past few years. About a year ago the city had signs out in front of it stating it was about to be seized for non-payment.
This is great news. Love this type of urban infill multifamily development, especially in such close proximity to the Park…and glad it’ll actually be live soon. Does anyone know if this has amenities (pool, etc.) that will allow it to compete with some of the other new luxury apartments that are coming online in the next 12 months or so?
Hey, Urbanist. I see you wrote: “close proximity to the Park…”. I think you are looking for something with close to the MALL. Please read and write more carefully.
RE:
Urbanist March 20, 2012 at 9:23 am
“…every time I walk through that mall when it’s not holiday season.”
A little obsessive, aren’t we? Or just a dbag…
RE:
Urbanist May 3, 2012 at 1:22 pm #
A little obsessive, aren’t we? Or just a dbag…
You love going to the mall and you go very often.
NOOOOOOOOOOOOOO!!! I wanted to buy one of these when I became rich like Nene… now they are going to be apartments… ew.
Summer is here and I don’t yet see an open leasing office. However, we spied stainless steel appliance being off loaded in to the building on 7/10.