Fairfield Residential has submitted demolition and multifamily land development permit applications for its 392-unit redevelopment of the former InTown Suites property in Piedmont Heights, city of Atlanta records show.
Issuances have yet to be made for the permits, which were filed for within the last month and list a combined cost of construction of about $3.6 million. The planned project is currently under review by the city for special administrative permit approval as well.
Submitted in April, plans for the project call for a five-story apartment building with almost 60 units, or about 15 percent of the project total, reserved for households at 80 percent of area median income or below. The project would hold 30 studios, 250 one-bedrooms, and 112 two-bedrooms and include amenities such as a pool and courtyard, according to a development site plan.
The site’s existing hotel building has been eyed for redevelopment for several years. In 2019, plans by developer Paces Properties to redevelop the property into a modern hotel concept stalled.
Expected market rents for the current plans are $1,361 for the studios, $1,687 for the ones, and $2,240 for the twos, according to the developer’s SAP application on file with the city.
Below-market-rate rents would be $1,207 for the studios, $1,293 for the ones, and $1,552 for the twos, plans show.
The project would provide 504 automobile parking spaces in a centralized, five-level parking deck.
Dwell Design Studio and SGN+A are involved on the design side of the development.
