Construction begins on 28-story luxury apartment building in downtown Atlanta’s Arts District
“We are leveraging the creativity and energy of the Midtown Arts District to create the distinct character of this luxury community,” said Richard Aaronson, CEO of Atlantic.
July 01, 2022
Atlantic Residential, FIDES Development, Capital City Real Estate and Mitsui Fudosan America are pleased to announce that construction has begun on a new 350-unit luxury apartment building, through a joint venture of the four organizations. The building will offer the highest levels of amenities and finishes offered in Midtown Atlanta, with the first units expected to be delivered in June 2024.
Located at 1441 Peachtree Street in Midtown Atlanta’s arts district, residents will be surrounded by all that this vibrant location has to offer. In what has been called “the Southeast’s most cultured square mile,” residents will be able to easily walk to many iconic offerings, including the High Museum of Art, Atlanta Symphony Orchestra, the Alliance Theatre, the Museum of Design Atlanta (MODA), Savannah College of Art and Design (SCAD), and the Breman Jewish Heritage Museum. Open space is plentiful, with Pershing Point Park across the street, Ansley Park directly to the east, and Piedmont Park a few blocks to the southeast. The Arts Center MARTA station is also just steps away, providing access to public transit.
Residents will enjoy a beautiful internal air deck leading to individual and collaborative co-working spaces, a state-of-the-art fitness center, an elegant wine bar and lounge, a private dining room, a sparkling swimming pool with terrace and an impressive rooftop bar and lounge with stunning views of Ansley Park and the skylines of Midtown and Buckhead. There will also be two dining areas in the lobby with high ceilings and floor-to-ceiling glass.
Residences will include studio, one-, two-, and three-bedroom floor plans, many with balconies or generous terraces. Interiors include gourmet kitchens with upgraded appliances, LED lighting packages, and other finishes found in high-end condominiums.
“Inspiration for the architectural character of the building came from two iconic structures placed at opposite ends of the Arts District; Richard Meier’s High Museum to the south, representing an icon of high art, and the SCAD “Forty” building to the north. , an on-campus residential community designed by Mackey Mitchell, representing the artists without whom art would not be possible.The emerging composition is a dialogue between the two inspirations and creates a rhythmic facade of grids, tones, solids, planes and voids stacked,” said project architect Andres Rubio, principal at Niles Bolton Associates in Atlanta.
“Our development team is known for developing properties with distinct designs inspired by the neighborhoods in which they are located,” says Richard Aaronson, CEO of Atlantic. “For this new property, we are leveraging the creativity and energy of the Midtown Arts District to create the distinct character of this luxury community. Residents will be able to live, work and play within walking distance of top arts institutions and performance of Atlanta. Moreover, it was the quality of this building and its location that attracted Mitsui Fudosan America, the American branch of Japan’s largest real estate company and one of the world’s leading real estate investors, to our project.
Landscaping and civil engineering services are provided by Kimley-Horn and the general contractor is Brasfield & Gorrie. JLL Capital Markets worked on behalf of the borrower to arrange capital for the joint venture through Mitsui Fudosan America. The JLL team was led by general managers Gregg Shapiro and Matt Casey.
About Atlantic Residential
Atlantic Residential is an Atlanta-based commercial real estate development company that develops and manages luxury and mixed-use residential projects. Inspired to improve the quality of life for residents and their communities, the company was founded by brothers Richard and Andrew Aaronson in 1995. The company focuses on building premier homes in the best neighborhoods. Atlantic has regional offices in Chicago and Ft Lauderdale and has developed $3.0 billion in residential and mixed-use projects totaling over 9,000 residential units.
About FIDES Development
FIDES Development is an Atlanta-based company founded in 2020 by industry veterans who bring together over $5 billion in real estate development and investment experience. The company has a priority commitment to people and champions market-proven, profitable and socially responsible projects. The project is one of many starts for FIDES Development in 2022, with others in January on a 160-unit community in Norcross, GA, in June on a 192-unit mid-rise project in Chamblee, GA, in September on a 340- unit mid-rise on the Charleston Peninsula, and in October on 205 units with deep water frontage on the south shore of Lake Lanier.
About Capital City Real Estate
At Capital City Real Estate (CCRE), our passion is to develop high quality, distinctively designed properties in vibrant neighborhoods. Since 2006, we have successfully developed over forty residential and mixed-use projects and have become one of the leading developers of urban infill properties throughout the Mid-Atlantic and Southeast. CEMR has offices in Atlanta and Washington DC. For more information on Capital City Real Estate, please visit http://www.capcityre.com.
About Mitsui Fudosan America
Mitsui Fudosan America, Inc. (MFA) is the U.S. subsidiary of Japan’s largest real estate company, Mitsui Fudosan Co., Ltd., a publicly traded company with approximately $65 billion in assets. MFA is responsible for Mitsui Fudosan’s real estate investment and development activities in North America and is headquartered in New York, with regional centers in Washington DC, San Francisco, Los Angeles, Dallas and Honolulu. MFA has been active in the United States since the 1970s and currently has assets in the New York, Washington DC, Boston, Seattle, San Francisco, Los Angeles, Dallas, Hoboken, San Diego, Denver and Honolulu metropolitan areas. MFA’s U.S. portfolio includes approximately 5.6 million square feet of office space, 7.2 million square feet of office space under development, 2,000 residential apartments and an additional 5,300 rental units under development. development, as well as 741 hotel rooms. Additionally, MFA has recently developed several condominium projects in the New York and Washington DC markets.