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Urban Creek Partners, the developer of Quarry Yards, is seeking to demolish 11 buildings or roughly 17,700 square feet of existing commercial and industrial space at 1345 Donald Lee Hollowell Pkwy., near the Bankhead MARTA Station, according to permits filed with the City of Atlanta.
The planned demolition—with an estimated cost of $165,000—signals that Mark Teixeira‘s investor group recapitalization led by CBRE in September, according to CoStar, significantly moved the needle to prepare for the project’s impending vertical construction.
A 2018 market feasibility and regional impact analysis for portions of the 70-acre development filed with Georgia’s Department of Community Affairs details the surrounding land uses:
“Surrounding land uses include single-family detached homes to the south and west and commercial/industrial uses along Donald Lee Hollowell Parkway to the north. Two public parks (Maddox Park and Grove Park) are along Donald Lee Hollowell Parkway within roughly one-half mile of the site. Older modest value single-family detached homes surround the site to the south and west with several abandoned homes and an abandoned multi-family rental community within one-half mile of the site as well. Commercial uses within one-half mile of the site along Donald Lee Hollowell Parkway include convenience stores, an auto-repair shop, Fulton County DFCS office, and several small retailers/service providers. The Bankhead MARTA Transit Station is across Donald Lee Hollowell Parkway from of the site to the northeast. Undeveloped land is adjacent to the site to the east which is the proposed location of additional phases of the Quarry Yards redevelopment master plan for which the subject property is phase I.”
Permits filed in October 2019 for commercial and multi-family residential land development, indicate the first phase is expected to include an affordable housing project along Proctor Creek and near the Bankhead MARTA Station called Parkside at Quarry Yards from Prestwick Development Co.
Other planned components of the first phase, according to the latest Quarry Yards marketing deck, include 850-plus multi-family units, 575,000 square feet of office space, 75,000 square feet of restaurant and retail space, a 300-key hotel—and a new Phase One completion date slated for the second quarter of 2021.