5:05 am July 22, 2011, by Henry Unger
At least the apartment market is showing signs of life.
Developers have proposed two high-rise apartment complexes for Midtown, AJC writer Christopher Quinn reports.
Plans for the 23-story Sky House at the northwest corner of West Peachtree and 12th streets were laid out for the Midtown Development Review Committee, along with plans for a 22-story complex at the southwest corner of 12th Street and Cresent Avenue, Quinn writes.
Apartment construction has been coming on strong, in part, because of the real estate and foreclosure crisis, Quinn reports. The U.S. Department of Commerce’s monthly release of housing data showed that apartment construction through June is up more than 30 percent in the U.S. since the beginning of the year.
Sky House will include 320 residential units and parking for about 500 cars in a six-level parking deck, Quinn writes. Novare Group is behind the proposal, according to documents. It will include 8,400 square feet of retail space on the ground floor.
The 22-story project unnamed in the documents will also have ground-level retail, 311 apartments and parking for 461 cars, Quinn reports. Daniel Corp. of Birmingham and Selig Enterprises are behind it, according to the Birmingham Business Journal.
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- Henry Unger, The Biz Beat
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