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ATLANTA-Marking its entrance into the metro area, the Related Group of Miami is penciling the start for CityPlace Buckhead, a nine-tower condominium project. Work will begin on the first phase of the project in late summer, according to a company spokeswoman.
All total CityPlace Buckhead will contain 3,800 units. The towers will rise on 16 acres at the intersection of Roxboro and East Place Ferry roads. Arquitectonica has been tapped to design the project.
One CityPlace, phase one of the development, will feature a 29-story tower with 230 condos and 11 townhomes. One-bedroom units will range from 935 sf to 990 sf, two-bedroom units from 1,290 sf to 1,400 sf and three-bedroom units up to 1,900 sf, according to Related. The company puts unit prices starting in the $400,000s to more than $1 million for penthouses and townhouse units. Related executives are targeting 2009 for completion of One CityPlace.
The company adds the second phase will be 2:CP and will be geared toward first-time homebuyers with condos starting in the $200,000s. The spokeswoman tells GlobeSt.com CityPlace will also feature resident-focused retail, with such possible services as a coffee shop and dry cleaner.
She adds there is no project timeline or estimated development cost. GlobeSt.com previously reported that local general contractors estimated the hard construction costs could be in the $250-million to $300-million range.
The Atlanta City Council approved rezoning for the development in September. At that time, Jorge M. Perez, president of Related, said in a statement, "This means that we can move forward with our vision for Atlanta. With the twin forces of rapid population growth and increased demand for in-town living in Atlanta, we are confident that there is a strong market of people who will want to call our condominiums home."
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