Pre-Leasing Underway at The Residence Buckhead Atlanta
- May 07, 2014
Atlanta—The Residence Buckhead Atlanta, a new 370-unit high-rise in Atlanta’s upscale Buckhead Village, is in pre-leasing, developer OliverMcMillan reports.
The apartment community features two 20-story towers soaring more than 200 feet above Buckhead Atlanta. Renters are able to choose among floor plans ranging from a 692-square-foot studio to a more than1,990-square-foot three-bedroom penthouse. The apartment homes are distinguished by such features as stainless steel appliances, quartz countertops and floor-to-ceiling glass windows that open on spacious balconies, and offer panoramic views.
The development’s temporary leasing office, situated at 265 Buckhead Ave., is open. First occupancies will take place this fall.
Success with multi-family developments usually is tied to being in the right place at the right time. “The two issues of time and place are actually closely tied together for The Residence Buckhead Atlanta,” Hunter Richardson, managing director of development at OliverMcMillan, tells MHN. “Had the residences opened ahead of the retail and shopping component, or been physically separate from it, the living experience would not have been as compelling. In addition, with the opening of the first retailers and restaurants this fall, there really won’t be a better place to live at in the entire Atlanta area than The Residence Buckhead Atlanta.”
The developer faced two primary challenges in making the community a reality, Richardson adds. “First, we were tasked with reinventing and reinvigorating the image of Buckhead Atlanta. We took over development in 2011 and faced the negative perception from a lot of people that we would not be able to make Buckhead Atlanta happen. As construction has progressed, however, we have made believers out of even the most vocal pessimists.
“Second, we were tasked with redesigning the residential component to fit within OliverMcMillan’s vision for Buckhead Atlanta. Through a lot of hard work, we have assembled the best retail, restaurant and office tenants to complement our upscale residences, offering the best living environment possible.”
Since starting development of The Residence Buckhead Atlanta, OliverMcMillan officials have watched Atlanta’s residential market rebound dramatically. Rentrates have reached pre-recession levels, and have even exceeded pre-recession levels in in-town communities like Buckhead, Richardson says.
“At the same time, younger Atlantans have shown an overwhelming preference to rent rather than own,” he reports. “Similar to other urban areas, people are flocking to the urban core of the city in search of walkable neighborhoods that offer them everything they want without having to hop in their cars. The energy in Buckhead is palpable. And we want those people living at The Residence Buckhead Atlanta to feel like they are at the center of this exciting time in one of Atlanta’s most historic communities.”