Pellerin Real Estate, the boutique developer behind The Beacon Atlanta in Grant Park, has purchased the tallest Summerhill building — the Ramada Plaza by Wyndham Atlanta Downtown & Conference Center — with plans to revitalize the 16-story tower, at 450 Capitol Avenue Southeast, according to a press release Thursday.
Pellerin has partnered with Life House through its Life Hospitality independent management arm to “stabilize operations and explore redevelopment opportunities as the neighborhood” — which is being revitalized under the direction of Carter — “continues to evolve.” The partnership seeks to grow its hotel portfolio by at least 1,000 additional keys by acquiring midscale hotels in Sun Belt states over the next 12-month period.
The 375-key Ramada Plaza sits adjacent to the new $750 million Summerhill Development, an 80-acre mixed-use project led by Carter Developments and Georgia State University that is already underway. Phase I of the Summerhill development will encompass 306 multifamily apartments with 8,575 square feet of ground-level retail, 82,000 square feet of grocery-anchored retail, the redevelopment of 47,000 square feet along Georgia Avenue, a 676-bed student housing project, 100 townhomes, and build-to-suit Class A office space. Additionally, Georgia State recently announced a new $85 million, 8,000-seat athletic arena which will be directly across the street from the hotel and is expected to deliver in 2022.
“The expansive [206,000-square-foot] property represents an opportunity for Pellerin to play a fundamental role in the evolution of the Summerhill neighborhood,” Philippe Pellerin, founder and CEO of Pellerin Real Estate, said in the release. “Through a community-sensitive approach, we will leverage our team’s deep familiarity with the hotel’s location to deliver a redevelopment that will be massively beneficial to preserving the history of Summerhill.”
Pellerin did not immediately respond to What Now Atlanta’s request for comment Thursday but did tell the Atlanta Business Chronicle that the Ramada Plaza could become anything from apartments to student housing to updated hotel rooms, pending talks with the community. In the meantime, the property will continue to operate as a hotel under the new name, Downtown Atlanta Summerhill Hotel. A new management group has been brought in and the current hotel staff was retained.
Moving forward, Pellerin’s strategy will target existing 100 to 300 key midscale hotels in locations with “attractive pre-Covid dynamics that are available below replacement cost,” with priority markets including Atlanta, GA, Dallas, TX, Jacksonville, FL, and Orlando, FL, according to the release.
10 Responses
https://www.theguardian.com/us-news/2021/feb/15/us-families-boycotting-publix-grocery-chain-capitol-riot
No one is boycotting Publix dude. That’s like arresting you for a crime that your sibling did. The kid of the companies founder donated money, and she is not involved in the company whatsoever, other than collecting trust fund checks. Publix can’t control how rich kids spend their money dude. SMH
Exactly.
Cancel culture just doesn’t know when to stop. SMH…
Badah you should be ashamed for spreading misinformation, particularly in an area of town that really needs a grocery store!
Badah is correct…the actual corporate Publix donations, in the 6 figures recently, are very questionable to many citizens. It is not just some unrelated rich kid.
https://www.orlandosentinel.com/business/os-bz-publix-heiress-progressive-campaign-20210205-eajsa7fgs5cune3l3qvmo2ngdi-story.html
So great!! We don’t have a super close grocery store. Nearest is Glenwood. So happy to hear this!
My only gripe with the design above is the 2-level parking structure that looks like it will front Georgia Ave. Nice retail/buildings fronting Hank Aaron Drive – would love to continue that around to Georgia Ave and blend in with the fantastic retail that has recently opened here.
This is good news for lots of reasons especially since this area is considered a food dessert.
Whoops, I mean food desert!
It’s good that Summerhill is getting a grocery store that will serve not only residents in the community but also those in neighboring ones, which are essentially food deserts. I am, however, really disappointed in the design as it currently stands. There is a real opportunity here to create an environment that prioritizes and encourages the pedestrian experience by either burying the parking or building a parking deck. It seems that Carter is following Fuqua’s suburban-style development in an urban environment model and it’s sad.
Is this under construction yet?