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ATLANTA-The development of two condominium high-rise towers brings Donald Trump to the city for the first time. Trump is joining with locally based Wood Partners and Dezer Properties, of New York City and Florida, to build Trump Towers Atlanta. GlobeSt.com first reported on the possibility in May.
The two towers will offer high-end, luxury units. The buildings will also feature boutique retailers and destination restaurants, according to a release. A spokesman for Wood Partners tells GlobeSt.com Phase I will rise 48 stories with 370 units and 20,000 sf of retail. Prices will range from the $400,000s to more than $1 million. He adds Phase II is still in design. The total project cost was also not available.
Construction of Trump Towers Atlanta is slated to begin early next year, with the first phase forecast to come on line in 2009. The development will rise at the intersection of 15th and West Peachtree streets. It was Wood Partners' $21.25-million acquisition of this 2.48-acre parking lot from Aeroswed Corp. and the 3216 Piedmont LLC that first fueled rumors of a possible joint venture with Trump. That deal for 1252 W. Peachtree St. occurred in March. When asked by GlobeSt.com in May if the Trump Organization was planning its Atlanta debut, Ivanka trump said, "We are planning a project in Atlanta, but I cannot say when [it will be built] and where at this time. I can say the announcement is imminent."
Trump Towers will be located near the Woodruff Arts Center, Atlanta Symphony Orchestra's proposed hall, 1180 Peachtree and a new skyscraper at Peachtree and 14th streets. "I've been looking into the Atlanta market for a while, and it was important to find partners with strong reputations, histories of large successes and track records of developing the highest-quality properties," Donald Trump, chairman and president of the Trump Organization, says in a statement. "I am extremely pleased to join Wood Partners and Dezer Properties in developing my first condominium tower in Atlanta."
Trump has first-hand experience with Dezer; the two companies jointly developed the $600-million Trump Grand Ocean Resort and Residences in Miami Beach, as GloebSt.com previously reported. Wood Partners is well-known for its high-rise projects such as the Metropolis, Eclipse, Horizon and Spire in Atlanta; Solaire in Orlando; and the Edge in West Palm Beach, FL.
"We're excited to work with Donald Trump and Dezer Properties to create homes that appeal to those desiring luxury living and lifestyles," says Mark Randall, managing partner at Wood Partners, in a statement. "We have some tremendous projects under way around the country, but we get a lot of satisfaction out of developing high-end projects, such as Trump Tower Atlanta, right here in our hometown."
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