Atlantic Residential, FIDES Development, Capital City Real Estate, and Mitsui Fudosan America this week announced that construction has begun on a new 350-unit apartment building, through a joint venture of the four organizations.
“The building will offer the highest levels of amenities and finishes offered in Midtown Atlanta,” according to a press release, with the first units scheduled for delivery in June 2024, at 1441 Peachtree Street in Midtown’s Arts District.
Elements of the tower include an internal sky bridge leading to both individual and collaborative co-working spaces, a fitness center, wine bar and lounge, private dining area, pool with sundeck, and a rooftop bar and lounge with views of Ansley Park and the Midtown and Buckhead skylines. There will also be two restaurant spaces in the lobby with tall ceilings and floor-to-ceiling glass.
The residences will feature studios, one-, two-, and three-bedroom floor plans, many with balconies or terraces. Interiors include gourmet kitchens with upgraded appliances, LED lighting packages, and other finishes “found in high-end condominium buildings.”
“The inspiration for the architectural character of the building came from two iconic landmark structures placed on opposite ends of the Arts District; The High Museum by Richard Meier to the south, representing an icon of high art, and the SCAD ‘Forty’ building to the north, an on-campus residential community designed by Mackey Mitchell, representing the artists without whom art would not be possible,” said project architect Andres Rubio, Principal at Niles Bolton Associates in Atlanta. “The emerging composition is a dialogue between the two inspirations and creates a rhythmic façade of superimposed grids, tones, solids, planes, and voids.”
“Our development team is known for developing distinctly designed properties inspired by the neighborhoods in which they are located,” Richard Aaronson, CEO of Atlantic, said. “For this new property, we are pulling from the creativity and energy of Midtown’s Arts District to create the distinct character of this luxury community. Residents will be able to live, work, and play within walking distance to Atlanta’s finest art institutions and performances. Additionally, it’s the quality of this building and location that attracted Mitsui Fudosan America, the U.S. branch of Japan’s largest real estate company and one of the premier international real estate investors, to our project.”
Landscape design and civil engineering services are being provided by Kimley-Horn and the general contractor is Brasfield & Gorrie. JLL Capital Markets worked on behalf of the borrower to arrange the joint venture equity through Mitsui Fudosan America. The JLL team was led by Managing Directors Gregg Shapiro and Matt Casey.
