In the last week there has finally been some good news on the proposed Beltline.

 The Atlanta Regional Commission (ARC) and Georgia Regional Transportation Authority (GRTA) have both approved plans for Wayne Masons stretch of the Beltline from Freedom Parkway up to I-85.  GRTA has left a dozen or so conditions that will need to be met but these two approvals in my opinion are huge for what was becoming a heated debate.

 About a week or so ago, several newspapers ran interviews with Mr. Mason, the Gwinnett developer who owns the entire North East section of the Beltine.  In those interviews Mr. Mason basically said, he can wait no longer and wants the city to act on his rezoning application that has now become one of the longest waits in the cities history. 

 I am with Mr. Mason all the way on this one!  He bought the land… and basically got the ball rolling on this entire thing.  Is he trying to capitalize on that…. Yes.  Is that not the American Dream?  Almost everyone in the real estate community would love to have their name tagged to such a monumental project and I for one hope this all works out for him. 

 The City of Atlanta needs to communicate with Wayne’s group and continue to work towards a win win for all of us.    I hope everyone can come together on this and continue to edjucate themselves and work together to create something special.

Here is the full story

City finally buys the Bellwood quarry

Here are Meredith Ashby’s thoughts on the Brookhaven Place project that Sembler is proposing.  I thought I would post it as it points out some interesting things such as how the proposed development interacts with the LCI study for the corridor. Here are the preliminary site plans: http://bpcaonline.info/html/site_plan.html

Neighbors, 

The Sembler presentation last night was very interesting. They certainly have the support of the Ashford Park Community Association. Lots of clapping and cheers, especially when they heard a Whole Foods is coming into the development. But, there was some opposition for sure, and they asked excellent questions about increased traffic, the impact to the environment and neighborhood etc., and we asked about flooding/drainage issues.    (more…)

Click Here for All of our stories about the Sembler Company

Click to enlarge

The Business Chronicle reported today what we were the first to announce back in January (click here). As expected, the article reports that Sembler Company is planning a $400 Million dollar mixed use project that Jeff Fuqua says will reshape the entire Peachtree industrial corridor leading from Brookhaven to Chamblee.  As you can see by the aerial photo above, the massive 50.017 acre site is one of the largest properties besides Lenox Square Mall. 

The project will contain 1,200 residential units with a variety of townhouses, apartments and mid-rise condominiums.  The proposed plans also call for 600,000 sq. ft. of retail, 15 restaurants, and a five story 150,000 sq. ft. class A office tower according to Sembler.

 
The Business Chronicle reports that the project will be completed in 30 months (read the story here).  We are working with Dekalb County to verify the date when Sembler will apply for rezoning of the 50.017 acre site. We will also be publishing the initial site plans when we receive them from our sources over the next week.

The buyer, Sembler Bell Brookhaven LLC is a joint venture between Steven D. Bell & Co and Sembler.  The 523 unit Peachtree Garden apartments were sold by Peachtree Garden Apartments Inc. for 66 million according to county records (DeedBook 18666 Pg 774). $45,100,000 worth of financing was provided by Wells Fargo Bank on a 12 month note with a 6 month optional extension (DB 18666 Pg 785). 

Acording to the legal description, Sembler will have 238.01 feet of frontage on Peachtree as a front entrance to the property.  Many people might be wondering if the old Original House of Pancakes is involved in this transaction.  As of today’s date, the ownership has not changed hands in the last few years.  However, Sembler will have around 1500 feet of frontage on Hermance facing Oglethorpe University.

Peachtree Garden apartments were run by CEO Richard Garber and two other local owners and have been under the same ownership since 1994.  Peachtree Gardens Inc. purchased the complex for 3.510 Million on 2-4-94 (see attached Warranty Deed).

Click Here For Full Size Tax Map 

Sembler is currently developing the following projects in Georgia: 
·  Austel Point, (175,000 s.f. community s (more…)

PEACHTREE HILLS PLACESM TO OFFER SENIORS
A NEW WAY OF LIFE IN BUCKHEAD

Isakson-Barnhart’s CCRC Already 40% Reserved

ATLANTA – (April 21, 2006) – Isakson-Barnhart’s Peachtree Hills Place^SM, a new luxury continuing care retirement community (CCRC) under development in Buckhead, is being met with great acclaim by the housing industry and seniors alike.  Designed with the same vision as the company’s award-winning Park Springs^® CCRC in Stone Mountain, Ga., Peachtree Hills Place recently won the Silver Award for CCRC On the Boards – Large in the 2006 Best of Seniors Housing Awards presented by the National Home Builder Association’s 50+ Housing Council.  Plus, seniors have already placed priority reservations on 40 percent of the available residences.
            The popular community, which will start construction when 65 percent of the homes are reserved (spring 2007), will offer country-club amenities with classic architecture.  When the first members move in, projected for the spring of 2009, it will be home to seniors seeking to live a secure, independent lifestyle with access to a range of services and amenities.  Sales will begin in March, with priority selection available for reservation holders.
            “Our members will enjoy a Buckhead lifestyle in a secluded enclave (more…)

Introducing Sovereign

99 Exclusive Residents Crowning 3344 Peachtree offered from $1 million

ATLANTA - Regent Partners, LLC today announced that the 99 exclusive condominium residences crowning the 48 story mixed-use vertical high rise at 3344 Peachtree will be named Sovereign.   The luxury residences begin on the building’s 28 th story, and rise 635 feet above the Buckhead skyline to the 48 th story.   David Allman, Chairman, Regent Partners, LLC, said,   “In choosing a name for these distinguished homes we sought a descriptor that embodies the building’s striking appearance, while suggesting a quality of life that until now has been unavailable in Atlanta — or for that matter the entire southeast.”  

Paces Ferry Realty to Broker Sovereign

Regent Partners also announced that home sales for Sovereign will be brokered by Paces Ferry Realty. “Paces Ferry Realty was selected because of its exclusive focus on new luxury construction and residential projects,” said Reid Freeman, President, Regent Partners.  ”Cheri Riley and her team appreciate the vision we have for Sovereign and bring the enthusiasm and experience to help us share our vision with select homeowners.”   

Homes at Sovereign will be offered from $1 million and above.   Paces Ferry Realty is now reserving appointments to preview plans for the 99 residents, which will be ready for homeowners to occupy in the summer of 2008.   To learn more, please contact Paces Ferry Realty Group at: 404.842.4977 or online at www.sovereignbuckhead.com .

Sovereign was chosen as the name as the word literally means ‘above all others.’ With residences starting at the 28 th story, all homes will enjoy a penthouse-like view. Allman adds, “The name, Sovereign, clearly resonates the unique lifestyle that residents of the mixed-use development will enjoy, while providing a distinctive and elegant address that is as outstanding as (more…)

The Brookwood Hills Community Club and Carter & Associates seem to be planning a joint venture, high-end condo development at Peachtree Street and Huntington Road in south Buckhead.

The Brookwood Hills organization, Carter and John Mears, a former Post Properties executive, have plans to develop a 12-story condo building with 56 units, each totaling approximately 2,000 square feet and selling in the $1 million price range. The proposed development also includes three high-end townhomes fronting Huntington Road, as well as 2,500 square feet of office space and 7,500 square feet of retail according to CoStar news.

The redevelopment site is a 1.14-acre parcel that is currently a small law office.

Neighborhood Planning Unit E and City of Atlanta Zoning Review Board  will be hearing the proposal this month
Here is the story posted on www.Brookwoodhills.com:

Plans are under way for a high rise condominium (with ground floor office space) at the southeast corner of Peachtree and Huntington (where the David Joel law firm currently stands).   Summary points:

* Carter Development (www.carterusa.com) and John Mears (formerly of Post Properties) will be development partners.  They did much of Atlantic Station, Lindbergh City Center, and are doing the Regents Park development across from The Loop at Peachtree Battle.
* Concept is 56 units at approx. 2,000 sq. ft. each, higher end clientele, $1mil price range.
* Plan is to make the building 12 stories tall. (more…)

Word on the street is that Sembler Co. may be moving forward with it’s redevelopment plans for Peachtree Garden Apartments.  See my original post here.

I just thought I would be the first to break the story here at Developing Atlanta.  I will write more when I find out some details from Dekalb County.

Click Here for All of our stories about the Sembler Company

By Giles Stevens

The Atlanta Business Chronicle is going to announce this  Friday the that the Sembler Co. has put a 49.57 acre site under contract and has plans to continue operating the apartment for now and  redevelop the site in the future. The site is located near Oglethorpe University. Here is the location on Google Maps.

Jeff Fuqua, the president of development for Sembler, is quoted in the Business Chronicle saying, “We’re buying it for investment purposes, but we don’t have a plan for development yet.” Sembler is Also redeveloping almost a billion dollars worth of product here in Atlanta, check out a few of their recent or current projects: Lindbergh Plaza, The Prado in Sandy Springs, Edgewood Retail , Perimeter Place

The Business Chronicle article reads that the site is 40 acres and has 523 units.  Our research shows that the site is actually 49.57 acres. (Click here for Plat) and confirmes the 523 units.