Construction on Buckhead Atlanta to begin late 2011 with an expected $700 million spent to complete the project to date
Monday, OliverMcMillan — San Diego-based real estate firm that develops urban and mixed-use retail, entertainment and residential projects — unveiled new renderings, a new architectural model and a new name for Streets of Buckhead.
The announcement was made at the International Council of Shopping Centers’ annual RECon show in Las Vegas.
Buckhead Atlanta will be the new name of the six-block, eight-acre luxury mixed-use urban village formerly know as the Streets of Buckhead, according to spokesman Bryan Long.
“Formerly known as The Streets of Buckhead, the project was one of the highest profile developments in the country halted by the economic downturn and financing drought,” Long said in an email to What Now Atlanta. “The new name signifies a departure from the concept of a single destination development and a move toward a mixed-use community that will fit seamlessly within the existing Buckhead Village.”
Buckhead Atlanta will become an urban village, with a scale that matches the existing neighborhood and include points of interest that encourage walking, according to Long.
“The development plan has been scaled back to a more walkable, human scale, with one- to two-story buildings on the southern edge of the property, scaling up to the already planned, 20-story apartment towers,” Long said.
OliverMcMillan plans to begin construction on the project in late 2011. The firm will continue work to evolve the architectural plans. Leasing efforts on the development officially begin today at the ICSC convention.
OliverMcMillan owns and permanently controls the project and will invest an additional $300 million to complete the project, beyond the nearly $400 million spent to date.
Check out these renderings of Buckhead Atlanta: