What the Trump Tower in Atlanta would have looked like.
AMLI Residential has purchased the 1.8 acre site at 15th and West Peachtree Streets from General Electric Credit Equities; the multi-family company paid $7 million for the land. In the 2000s, Donald Trump put his name on two proposed high-rise condominiums set to be constructed on this site; the plans were downsized and later cancelled when the market collapsed. The site was foreclosed on in 2010.
Given the current “apartment boom” we are experiencing, AMLI will probably construct Midtown’s fifth multi-family high-rise this year. A similar project next to the Midtown MARTA station is already underway. And who could blame these apartment developers? Landlords have reported rents at the coveted $2 PSF mark, consumer credit is forcing people to rent instead of purchase, and an insurgence of “Millennials” who want to live and play where they work is making apartment living the best choice for more and more consumers.Share