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Edgy Atlanta Retail Development Adding Apartments

Crescent Communities Files to Allow Moores Mill Multifamily Plans to Move Forward
July 3, 2018
For residents in Atlanta's extreme western edge, waiting a decade for a new grocery store was the hard part. They finally got their Publix last year, located at Moores Mill, but they won't have to wait as long for new apartments at the project.

Edens opened the Publix at its Moores Mill mixed-use development in November 2017, and said at the time that as many as 345 apartments soon would be added to the mix. The South Carolina developer's plans for apartments now are moving forward.

Last week, Charlotte, NC-based Crescent Communities filed applications with the city of Atlanta to pave the way for development of the apartments at Moores Mill near the Chattahoochee River. Crescent requested a special administrative permit (SAP) to allow for "the creation of the unified development plan issuance to allow shared parking within the master-planned development."

Crescent, which is building apartments across Atlanta - from the Old Fourth Ward to Central Perimeter - typically does not comment on its developments until late in the entitlement process or when it closes on a property. A company spokeswoman said she would check on the status, but CoStar News had not heard back from her by press time.

Crescent's plans to develop a Novel apartment community are the latest in a string of new projects planned for Atlanta's Upper Eastside. The area, originally a part of the Chattahoochee Industrial District, recently has attracted interest from mixed-use and multifamily developers after adding some 5,000 mostly single-family homes to the surrounding areas. The new residents demanded - and finally got - their grocery store at Edens' center.

Now developers are lining up to start new projects in the Upper Westside.

Selig Enterprises, which envisioned the former industrial area as a future mixed-use enclave when it acquired the Logan Circle industrial park in 1997, has major plans for the Upper Westside with The Works at Chattahoochee, an 80-acre mixed-use development.

At Marietta Boulevard and Moores Mill Road, adjacent to Edens' Moores Mill development, Eden Rock Real Estate Partners is building Westside Village at Moores Mill. The $25 million adaptive reuse project will comprise more than 70,000 square feet of restaurant and retail space. Eden Rock also has applied for rezoning to allow it to develop 19 townhomes at 2260 Marietta Blvd.

Last month, Cushman & Wakefield said it secured $37.8 million in construction financing for Vue at the Quarter, a 271-unit apartment community planned at 2048 Bolton Drive. The community, to be developed by GJ Enterprises of Valdosta, GA, would comprise 359,000 square feet of space in five four- and five-story buildings, and is expected to be completed in May 2020, according to Cushman & Wakefield.

The Atlanta Zoning Review Board is expected to consider Crescent's applications for 2265 and 2275 Marietta Blvd. in September.

Tony Wilbert, Atlanta Market Reporter  CoStar Group   
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