August 26, 2013
Buckhead Atlanta's Construction Pace 'Is Quickening'
There is barely a square foot of soil in Buckhead Atlanta that isn�t under construction now as the 8-acre development rises from the ground like Atlanta�s famed Phoenix. The cranes were even moving and workers were at task all over the area this past Saturday. �The pace of construction is quickening,� said Hunter Richardson, OliverMcMillan�s managing director of development. The workforce on the project has grown to more than 100, and not even all the rain Buckhead has seen this summer has put a damper on progress. Concrete and steel are beginning to take on the shape of the mixed-use development of retail, office and residential spaces. Developer OliverMcMillan has begun construction on the residential towers. Preconstruction work atop the eight-story parking structure has begun, and soon the towers will rise to 20 floors, forecast to rise a floor each week. �People will begin to notice the towers taking shape as they reach 20 floors," Richardson said. "The retail portion of the project also will speed along.� �We will be opening stores next summer and the residences in the fall,� Richardson told BuckheadView. The project will include 370 luxury apartment homes, which will begin leasing in mid-2014. �As for the rain, because we are constructing on top of partially built structures, we have not been slowed by the rain � we just keep on working,� Richardson added. OliverMcMillan recently announced it secured a $167 million construction loan and signed undergarment innovator Spanx as the anchor office tenant and a flagship retail store. BuckheadView toured the perimeter of the site last week. We observed that work is progressing rapidly on the front portion of Parcel A, which stretches along Peachtree Road from Pharr Road to Buckhead Avenue extending to the Buckhead Library. Finish work has begun on structures at Parcel C, which includes the future Hermes store and was the first area of the development to go vertical. And, work appears to have begun on preparing the ground for development at Parcel B, which stretches north from Buckhead Avenue along Peachtree Road. Parcel B was planned to be the last of the parcels in the main portion of the six-block, 8-acre development site to be developed. It has been used as a construction equipment site. The other area planned for later development is the present construction office site at Bolling Way and Peachtree Road, which was the former Hi-Fi Buys store. Buckhead Village is designed to have pedestrian-friendly streets, lush landscaping, upscale residences, and a variety of restaurants and luxury retail shops that are new to Atlanta. At approximately 1.5 million square feet, the completed project will include 300,000 square feet of upscale retail stores, restaurants and cafes, more than 100,000 square feet of office space and 370 luxury high-rise residences. As a footnote, Buckhead Atlanta is not the only major development work taking place along Peachtree Road between Pharr and East and West Paces Ferry roads. The former ESPN Zone building at 3030 Peachtree Road has been totally demolished, paving the way for construction to begin on the new six-story Restoration Hardware (RH) flagship Design Gallery, which is scheduled to open late next summer or early fall. The Buckhead RH Design Gallery store will showcase the new Restoration Hardware as the company transforms itself from a high-end home furnishings brand to a luxury lifestyle brand under the product-neutral RH logo (think RL, for Ralph Lauren). The six-story RH Buckhead store will have approximately 72,020 square feet of gross space, with 45,690 square feet of indoor retail space, 19,625 square feet of secured outdoor retail space and 9,470 square feet of office space. The development will contain 120 parking spaces, with an existing parking deck and 18 bicycle parking spaces.