Hanover & Loudermilk propose new Midtown tower, continue expanding in Atlanta
September 9, 2015 | By Douglas Sams/ The Atlanta Business Chronicle
The Hanover Co. is proposing a 28-story Midtown apartment tower that would anchor a mixed-use project on Peachtree Street, as the company continues to expand its Atlanta development portfolio.
The Houston-based company is partnering on the project with Atlanta developer Robin Loudermilk, president and CEO of The Loudermilk Cos. Hanover will own and develop about 350 apartment units. Loudermilk will own and lease the roughly 43,000 square feet of office space and 11,220 square feet of ground-floor retail.
For Loudermilk, it extends the company’s retail presence along the Midtown Mile, a stretch of Peachtree that makes up the heart of the city’s arts and entertainment district. Back in 2013, Loudermilk picked up the retail portion of Viewpoint condo tower and has since filled the space with new tenants such as World of Beer.
The new development would take shape on a vacant parking lot at Peachtree and 7th streets between gay nightclub Bulldogs Bar and Loudermilk’s new condo building, Seventh Midtown.
Hanover chose Chicago architect Solomon Cordwell Buenz to design the mixed-use project, which includes the S-shaped apartment building as its centerpiece and amenities such as a bike shop. The building also borders Juniper Street, where the Midtown Alliance is overseeing more than $5.5 million in renovations that include new bike lanes, sidewalks and other improvements
Hanover and Loudermilk presented the project Tuesday to the Midtown Development Review Committee. The developers plan to break ground sometime next year.
Hanover now has several Atlanta projects in some stage of planning or development, including two more intown: A Buckhead apartment building on Pharr Road next to Frankie Allen Park and and another Peachtree Road next to the popular music venue Buckhead Theatre, once known as The Roxy.
Originally appearing in The Atlanta Business Chronicle
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