Novare to Break Ground on Third Midtown Project?

1138 W Peachtree

In recent months we’ve written several articles on the multi-family towers being constructed in Midtown by Novare Group, Skyhouse Midtown and Skyhouse South. This week, Novare announced that they could be breaking ground on their third Midtown project in just a few months. The residential development firm is looking to purchase the 1.5 acre site at the intersection of West Peachtree Rd and 14th Street; several small retail establishments, including Einstein Bros Bagels, currently sit on the property. If Novare gets its way, those buildings will be demolished and replaced with another high-rise multi-family tower by next year. Sources have not revealed whether this will be an apartment tower or a condo tower, but given Atlanta’s history with over-supply and investors weariness to get back into the Atlanta condo market it seems as though these units will most likely be apartment units. Atlanta currently ranks #9 for apartment investment when compared across all major US markets.

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