12th and Midtown is a four-block commercial real estate development project in Midtown Atlanta along Peachtree Street and Crescent Avenue between 11th and 13th Streets.[1] The development currently contains three of the tallest buildings in Midtown, with more buildings planned in the coming years.
Ground was broken in 2006. The developer, Selig, had an original plan for nine towers and 3,000,000 square feet (280,000 m2) of residential and commercial space. The project was to be an anchor in the "Midtown Mile", a 2007 ambitious plan for upscale development along Peachtree Street in Midtown. The plan was scaled back significantly in 2011.[2][3]
As of January 2013 the project includes the following buildings:
- 1010 Midtown, 1010 Peachtree Street, 35 stories, at 1010 Peachtree Street NE, completed 2008 - residential with retail and dining on ground floor
- 10 Sixty Five Midtown, 1065 Peachtree Street, 35 stories, residences and a Loews hotel
- 1075 Peachtree, 38 stories, offices anchored by PwC - restaurants on ground floor
- 77 12th Street, at Crescent Avenue, 22 stories, residential. The 330-unit tower will have 20,000 square feet (1,900 m2) of ground-level retail space, and will curve along 12th Street and Crescent Avenue.[2][4]
In late 2012, developers Daniel and Selig acquired an additional 4 acres (approx.)within a five-block radius of 12th & Midtown, including tracts along Peachtree Street, West Peachtree Street and Crescent Avenue.[5] In January 2013, Selig announced that it expects the amount of retail space in the development to increase from the existing 130,000 square feet (12,000 m2) to 200,000 square feet (19,000 m2)[6]
In August 2014, C AND J ATLANTA LLC, an entity controlled by Florida real estate investor John Joyce, acquired 77 12th Street, the apartment tower at 12th & Midtown.[7] The purchase price was $121 million, or $367,000 a unit.[8]
References
edit- ^ "Master Plan", 12th & Midtown site
- ^ a b Maura Webber Sadovi, "Atlanta's Rental Rebound", Wall Street Journal, November 6, 2011
- ^ Lisa R. Schoolcraft, "12th & Midtown project to define Miracle Mile", Atlanta Business Chronicle, March 9, 2009
- ^ "77 12th Street, slideshow", Atlanta Business Journal
- ^ "12th & Midtown is gaining ground", Douglas Sams, Atlanta Business Chronicle, Jan 18, 2013
- ^ "200,000 square feet of retail to be added", Amy Wenk, Atlanta Business Chronicle, January 18, 2013
- ^ Florida Investor Buys Landmark Atlanta Apartment Tower for $121 Million, Skyline Views, Aug. 30, 2014
- ^ Atlanta Apartments, Retail Space Seen Selling for $121Mln Archived 2016-03-03 at the Wayback Machine, Commercial Real Estate Direct, Aug. 20, 2014