Greystar Moves Forward On 32-Story Micro-Unit Project

A consultant for national multifamily developer Greystar filed an application for a new multifamily development permit this week for the company’s planned 32-story Midtown project. Introduced during a Midtown Development Review Committee meeting in March, Greystar’s plans have called for just over 280 units, as many as 50 of which would be micro-units, and over 300 vehicle parking spaces at 1382 Peachtree St. NE.

The latest plans outlined in a permit application on Tuesday call for a 281-unit apartment building with a parking garage, amenity package with a fitness center, and 7,202 square feet of sidewalk-level commercial space. The unit mix at the Midtown project is slated to include 215 one-bedrooms, 53 two-bedrooms, and 15 three-bedrooms.

Located on the southwest corner of Peachtree and 17th streets, the project site was formerly occupied as headquarters offices by youth-mentoring nonprofit Big Brothers Big Sisters, which announced in 2019 that it was putting the property on the market. Greystar has yet to close on the site as of writing, according to county records.

In all, the project will have approximately 15,500 square feet of usable open space that includes about 8,000 square feet of roof-top terraces and more than 3,000 square feet of landscaped plazas and other areas. The project will provide 56 bicycle spaces along with 308 vehicle parking spaces, the latest plans filed with the city show.

As an investment management and development and construction company, Greystar manages over $37 billion in assets and over 70 rental housing projects in its development and construction pipeline. In Midtown Atlanta, it is one of two companies with micro-unit development plans: Tenth Street Ventures also proposed a micro-unit project last year, but with 40 units at the corner of 13th Street and Crescent Avenue.