Jamestown, a global real estate investment and management firm, Tuesday announced the start of construction on more than 700,000 square feet of new live, work, and shop space at Ponce City Market in the Old Fourth Ward neighborhood.
“Designed with a focus on sustainability and wellness, the new development will evolve the mixed-used model and structured shopping experience through new prototype verticals, including a mass timber loft office building, new hospitality living concept and multi-family rental community designed for active adults and empty nesters,” according to the announcement.
“Since opening in 2015, Ponce City Market has served as a vibrant centerpiece to Atlanta’s Old Fourth Ward neighborhood and is among the nation’s preeminent examples of mixed-use developments,” Michael Phillips, president of Jamestown, said. “We look forward to building upon that legacy of innovation, urban renewal and neighborhood connectivity as we embark on the property’s next chapter and set a new standard for dynamic mixed-use environments.”
At the corner of Ponce de Leon Avenue and Glen Iris Drive, 619 Ponce will be a four-story mass timber loft office building that includes 90,000 square feet of office space and 23,000 square feet of ground-level retail space. This building will be constructed with cross-laminated timber, which is more environmentally friendly than typical building materials such as concrete or steel.
A 21-story, flexible-stay, hospitality living building at the corner of Glen Iris Drive and Glen Iris Way will include 405 units and 12,000 square feet of retail space with 21-foot ceilings. Designed to cater to the way people live and work today, the hospitality living building will merge hospitality and home, and offer thoughtfully designed, fully furnished units with flexible short-term and long-term stays, from by-the-night stays to one-year terms and everything in between.
“The line between Airbnb and hotels, short-term and long-term rentals, is blurring,” Phillips said of the “hospitality living” concept. “The majority of people under 30 default to Airbnb and short-term stay rentals rather than hotels. People want the flexibility of short-term rentals with the service of a hotel. This concept caters to the global nomad and brings those two elements together inside the hyper-amenitized community that is Ponce City Market.”
Located directly adjacent to the Atlanta BeltLine at North Avenue, Signal House will be a 21-story, 163-unit multi-family rental building with 3,300 square feet of retail space on the BeltLine. Designed for active adults and the 55+ community with a focus on health and wellness, Signal House will provide a “digitally integrated and socially supportive living experience for a non-digitally native demographic.” The apartments will range in size from one- to three-bedrooms and include clean, modern interiors and balconies overlooking the BeltLine.
“Coming out of the Covid-19 pandemic, we are seeing the fastest adoption of technology in history,” Phillips said. “Signal House will cater to a 55+ community that wants the convenience of technology-enabled living without the friction points. Through multi-dimensional programing and technology interfaces designed for a non-digitally native audience, Signal House will give the 55+ community access to the kind of dynamic mixed-use environments typically reserved for younger generations.”
The project also will generate greater community connectivity and encourage micro-mobility throughout the neighborhood. A courtyard common area between 619 Ponce and the hospitality living building will provide walkable connectivity between the historic Ponce building, the new spaces on Glen Iris and the Beltline. Micro-mobility features will include onsite bike and scooter parking, additional bike lanes, designated rideshare drop-off sites, electric bike and car share programs, and electric car charging stations.
In line with Jamestown’s commitment to sustainability, Signal House, 619 Ponce and the hospitality living building will target LEED certification and net zero carbon operations. The project will reduce its emissions through all-electric operations and efficient building systems, and will evaluate options for on-site and off-site renewables as well as carbon offsets to achieve net zero carbon operations.
Ponce City Market first opened its doors in 2015 and has since been credited as the catalyst for revitalizing Atlanta’s Old Fourth Ward neighborhood. Today, Ponce City Market has become a major employment hub for creative and technology companies, and is currently home to 90 businesses. The new development is projected to bring more than 550 long-term jobs to the campus. In total, Ponce City Market will house some 100 businesses collectively employing more than 5,750 people and will include over 800 residences when the project is complete and fully activated.
“Combined with the existing residential at Ponce City Market, the new development will create a dynamic, multi-generational residential community, catering to a wide range of lifestyles and living situations,” Phillips said.
Similar to the first phase, Jamestown’s design looks to further beautify the larger neighborhood and build community amenities that cater to the people who live, work and visit the BeltLine. Signal House is projected to open by the end of 2023. 619 Ponce and the hospitality living building are expected to open in 2024.