"For decades, Madison and Fifth Avenues in New York and the Magnificent Mile in Chicago have offered world-class storefront shopping and dining for the discriminating consumer. The Streets of Buckhead offers many of those same luxury retailers, as well as luxury amenities and services in a street-level, open-air environment to create a truly unique experience for the sophisticated customer," Ben Carter, the company's founder and chairman, said in a release.

The eight-acre project is bordered by Pharr, Peachtree and East Paces Ferry roads, and North Fulton Avenue. Its retail space is scheduled for delivery in November 2009 and the residencies will be ready for occupancy by spring 2010, according to the development company. Although there are no plans for office space in the initial phase of the Streets of Buckhead, Ben Carter Properties indicates it will be considered as the development evolves.

The retail component will feature luxury boutique shopping, with tenants including Hermes, Bottega Veneta, Oscar de la Renta, Etro, John Lobb, Loro Piana and Vilebrequin, most of which are new to Atlanta. Committed restaurants include Japonais, La Goulue and Fado Irish Pub. Newly signed tenants include jeweler Van Cleef & Arpels, Brunello Cucinelli fine luxury cashmere and knitwear, Le Colonial authentic Vietnamese cuisine restaurant and a 30,000-sf Equinox Fitness Center. Rental rates for the project were not disclosed.