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Congratulations, MaryHelen Bass, you are our Grand Prize Winner! You and a guest will enjoy four days, three nights of luxury accommodations at one of 77 hotels and resorts throughout North America!
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If you are wanting information regarding the Client Appreciation
Program feel free to email us at Chrissy@castlesbychrissy.com Tuesday’s Tip Office, hotel-condo plans filed for
Buckhead
Two different developers have filed plans with the city of
Atlanta to build big, new projects -- an office tower and a hotel-condo
development -- in the upscale district by 2007.
Crescent Resources, the real estate arm of Charlotte power
company Duke Energy, filed plans late Thursday for Phipps Tower, a
20-story, 500,000-square-foot office building behind Phipps Plaza.
At the same time, Grove Street Partners, a venture of Post
Properties founder John Williams, filed plans for a hotel, condominium and
senior housing development on Peachtree and Stratford roads, next door to
Dante's Down the Hatch and across from Lenox Square mall.
A handful of developers, all of whom own prominent sites,
have been hinting at future Buckhead projects for months. Cobb County's
Cousins Properties got out of the gate first, announcing in October it
would build a 31-story tower on the corner of Piedmont and Peachtree
roads. Crescent Resources has been pondering Phipps Tower since
2003, when it paid $7.2 million for what's now a surface parking lot
between the mall and its Lenox Road movie marquee.
Crescent does not have a tenant, "but that may or may not be
a hurdle for us," said Michael Fletcher, a Crescent vice president.
The prospect of finding tenants, even in a recovering
economy, "feels good to us," he said. "Without juice behind it, we
wouldn't be having the conversations ... we're having."
Both the Crescent Resources and the Duke Energy boards will
have to approve the project, Fletcher said. Construction could start by
the end of the year. But Crescent has pulled back on similar projects before. The
company delayed plans for a Cumberland-Galleria area office tower in 2001.
Williams' Grove Street Partners paid $10 million for its
Peachtree site in August. Its new plans call for 170,000 square feet of
hotel rooms to be built below 125,000 square feet of condominium units,
plus a 160-unit senior living community. BYLINE: WALTER WOODS FOR ADDITIONAL INFORMATION ON THE PROPERTY LISTED ABOVE OR THE TIP PROVIDED
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