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Groundbreaking is this week.

New apartment development is revving up in downtown Atlanta, with the latest proposal bringing a one-of-a-kind design to the city.

Kaplan Residential, which has an Atlanta office, is soon to break ground on an $86 million apartment tower at 377 Centennial Olympic Park Drive.

“We feel like the job story downtown is the most compelling in the city — 140,000 jobs and virtually no new Class-A apartments in the submarket,” said Nathan Kaplan, partner at Kaplan Residential. “We feel like downtown is a greatly under-supplied market.”

The apartment tower will be a first for Atlanta, as it’s being built with a prefab building material called Prescient. The product cuts high-rise construction costs by 20 to 25 percent, compared to using concrete.
https://www.bizjournals.com/atlanta/news/2018/05/11/construction-to-start-soon-on-17-story-downtown.html








 

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That end product is much larger than I envisioned from the concept renderings, which I feel is a good thing. Ultimately we need a strong, sizable residential base in and near downtown to help the area turn the corner as a vibrant neighborhood. Doesn't need to be 24/7 city life, mind you, but it should be a comprehensive live/work/play setting in order to fill the vacancies, reduce crime, appeal to tourists, etc.

Will be interesting to see the evolution between Centennial Park and GT. What replaced Techwood Homes has been a fair affordable housing community that stabilized the area. Now it stands to be swallowed by gentrification.
 
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