1460 West Peachtree St, Atlanta, GA 30309
A Development Opportunity in Midtown Atlanta
City Realty Advisors, LLC is proud to exclusively offer Winnwood Apartments located at 1460 West Peachtree Street, Atlanta, GA 30309. This 24-unit apartment building is an opportunity to acquire fee-simple interest in a ‘once in a generation’ asset in the heart of Midtown Atlanta, one of the most active development districts in the Southeast United States. This property is located in a very high demand rental market with good access to all Midtown has to offer.
1460 West Peachtree St, Atlanta, GA 30309
0.73 Acres (31,962 square feet)
24 Unit Apartment Building (Built in 1930)
29,118 square feet
On-Site parking garages for 18 parking spaces
24 ft curb cut on 19th Street which can be accessed from both West Peachtree Street and Spring Street.
West Peachtree: 145 linear ft. 19th Street: 186 linear ft.
High-density, mixed-use redevelopment site of 0.73 acres or historical tax credit development.
Possible Uses: High-rise development or adaptive re-use to Condo’s, boutique hotel or updated Multifamily
FAR of between 3.2 and 10.2 (dependent upon use) with no height restriction
Walkable and transit-served location: Walk Score of 81
Expansive view corridors in every direction
Limited supply of available land sites for development remaining in Midtown Atlanta submarket
Constructed in 1930, the property has been in the same family for over 100 years
Atlanta’s hottest residential market
20 million SF of Office Space with 3 million SF under construction or proposed
14k Residential Units with 6.5k under construction or proposed
25% of the City’s professional, technology, science, and management jobs
Home to the largest concentration of arts and cultural institutions in the Southeast
Midtown is a commercial and cultural hub, a mecca for the creative class, and a catalyst for innovation and technology in Georgia. Midtown, at only 1.2 square miles, features more than 20 million SF of office and contains some of the Southeast’s best properties. Tech Square is situated in the heart of top-ranked Georgia Tech’s east campus. Named among the nation’s top 10 public universities, Georgia Tech provides a technologically-focused education in the fields of engineering, computing, and the sciences plus business, design, and much more. More than 25,000 undergraduate and graduate students attend the institution each year.
In addition to its 65,000 daily employees, Midtown is experiencing booming residential growth with over 4,500 units delivered in the last 2 years, and another 4,700 units in the pipeline. Occupancies exceed 95% throughout. Midtown is also home to 4,000 hotel rooms with another 1,200 in the pipeline to house its 10 million annual visitors. The 176 room Canopy by Hilton opened one block south of the subject only two weeks ago. North of Georgia Tech (10 blocks), the Savannah College of Art and Design (SCAD) is also nearby and offers more degree programs and specializations than any other art and design university in the U.S.. SCAD is currently constructing a 600 student bed facility 100 feet west of the Winnwood Apartments and intends to demolish the hotel/residences in June 2019 to prepare the site for more student residences.
The Midtown area includes some of the region’s most desirable office, retail, and residential spaces, all in a bike-friendly, walkable community. Expansive Piedmont Park, a quintessential site for outdoor recreation and signature Atlanta events, is a short walk away along with access to the Atlanta BeltLine, a redevelopment project that connects intown neighborhoods via multi-use trails and parks. Housing options in this part of Atlanta include modern, high-rise apartments and condominiums along with more traditional, single-family homes and townhouses. Atlanta is known for our affordable cost of living compared to other major metropolitan cities.
Access to public transit is convenient via the Arts Center MARTA station (4 blocks south). 96 percent of all office space and 97 percent of all residential space are within a six-minute walk of a MARTA rail station. Multiple MARTA bus stops are also conveniently located throughout the area. A grid street plan in Midtown contributes to good traffic flow in this part of the city. And the world’s most-traveled airport, Hartsfield-Jackson Atlanta International Airport, is only a 24-minute train ride or car ride away. In addition, the site is within 1 mile of two major hospitals: Piedmont Hospital to the north (with major expansion ongoing) and Emory Healthcare to the south. Emory Healthcare recently received a record $628 million in external funding for research.
Midtown has the largest concentration of arts and cultural attractions in the Southeast, Midtown Atlanta offers lifestyle amenities like the Fox Theatre, The Woodruff Arts Center (including the High Museum of Art, Atlanta Symphony Hall and Alliance Theatre), numerous culinary offerings and other attractions. Historically, this part of the city can pays homage to innovators and progressive thinkers in other ways, too.
Midtown is the foremost destination for startups, incubators, scaling tech firms, corporate innovation centers, venture capitalists, and B2B firms. Built on the premise of creativity and innovation, Tech Square is where possibilities become probabilities. Georgia Tech and the City of Atlanta recently launched a Smart Corridor pilot along North Avenue, which runs through the core of this area, activating more than 100 IoT sensors at the street level to gather rich, real-time data. The “living lab,” where the street itself can share information on maintenance needs, vehicle congestion, and public safety issues, will serve as a model for the future of urban mobility and is a key component of Atlanta’s Smart City Deployment plan. Corporate titans like AT&T, Coca-Cola, Delta Air Lines, The Home Depot, and Panasonic have established corporate innovation centers at Tech Square to tap into the entrepreneurial spirit and originality that thrives here. Anthem, Honeywell, NCR, Eaton, Google, Interface, and Norfolk Southern have all chosen Midtown for innovation hubs.