Among a sea of rising residential towers in Midtown, one developer is moving forward with plans for a 13-unit boutique apartment complex at 208 12th Street.
Plans Wednesday were filed with the City of Atlanta for the yet-to-be-named development.
Elmhurst Capital, a private equity and property investment management company founded in 2012, is developing 208 12th Street. The company has offices in Atlanta and Hong Kong, according to the Elmhurst website.
$600,000 was raised for the project which is expected to yield a 20 percent internal rate of return (IRR).
Architecture firm Praxis3 is behind the design of 208 12th Street.
“The owner feels that this kind of well-designed, small structure is a dynamic alternative to high-rise development and offers an intimacy and an aesthetic that will be appealing to the Midtown renter,” Praxis3 said of the project on its website.
The building, situated one-half block from Piedmont Park, features “true 2-level loft units” on the upper floor.
A small coffee shop and wine bar is planned on the street level.
Elmhurst did not immediately return What Now Atlanta’s request for comment.