What’s different this time is that two of the three new multifamily towers – The Charles Buckhead Village and Emerson Buckhead – now technically under way – are condos. Units at the 35-story Apogee Buckhead tower that got started early this year at Peachtree and Stafford roads will be rentals – at least for now.
Several key developments occurred in the past week.
- Crews demolished the one-story retail in Buckhead Village to make way for The Charles, an 18-story condo building that will comprise 57 units.
- Crews prepared to demolish the old brick building at 2520 Peachtree Road. Emerson Buckhead’s homepage declares: Demolition and Site Preparations are Underway. Limited Opportunities Remain for Pre-Construction Pricing.
- Crews continued to clear and haul away fill dirt from the Apogee site. General Contractor Gilbane and Related Co. have the lead right now after starting early this year.
Of the commercial property types in Atlanta, multifamily is the furthest along in the bust-boom cycle. Rents are way up, and new condos haven’t syphoned off would-be renters – yet.
The next 18 months should get very interesting as this trio comes to market and others start converting apartments to condos. Maybe we’ll see another round of Condomania, as the late Dale Henson coined long ago.