Buckhead condo and apartment complexes are being targeted for redevelopment.
Wellington Buckhead, a 56-unit condominium complex and The Victoria, a 40-unit apartment complex, both on Roswell Road in Buckhead, are seeing increased interest in their properties for redevelopment. The nearly four acre condominium complex was built in 1963 while the slightly smaller apartment complex was built the year earlier, in 1962.
|The Victoria Apartments just north of The Wellington|
Atlanta-based Edward Andrews Homes is reportedly the developer involved in the planned redevelopment.
Saba Loghman, Land Acquisition Manager for Edward Andrews, confirmed his firm was involved in negotiations for both properties but declined further comment.
Discussions are reportedly still ongoing, but the developer and the properties' owners are reportedly far from an agreement.
|The depth of The Wellington complex|
The Wellington community is home to many older residents, which could make the required majority approval difficult to achieve.
The complex is comprised of several two story brick buildings with clusters of units inside each entrance. The single level units offer two bedroom/two bathroom plans ranging from 900 – 1,200 square feet. Recent sales in the complex have ranged from $85,500 to $125,000.
Sources indicate that the developer plans to construct upwards of 100+ "luxury townhomes," likely to be priced from the $700s, on the combined properties. Loghman indicated that the development would not happen if they are not able to get both properties to agree to sell..
Edward Andrews' current properties are all in the northern suburbs of Atlanta, including communities in Sandy Springs, East Cobb, Alpharetta and Forsyth, among other areas. The firm's first intown project, Broadview Place, is currently under construction at Lindbergh Drive and Adina Drive.
|50 Lakeland surrounded by mature trees|
Across the street from Wellington Buckhead, Monte Hewitt Homes is planning another project. The 50 Lakeland condos at 50 Lakeland Drive were sold earlier this year and will be redeveloped into 44 three story townhomes. The existing 48 condos were built in 1957, and were all two-stories in six buildings.
Sales records indicate that developer Monte Hewitt Homes purchased the units, each of which measured about 1,000 square feet, for about $110,000 per unit this past January. Upon visiting the property last week, I was saddened to see that nearly all the mature trees towards the front of the property were marked with red X's likely meaning they are destined to be cut down for the redevelopment.
|The shaded courtyard at 50 Lakeland|
What are your thoughts on this proposed development? Do you think this would be good for the neighborhood? Are you sad about Atlanta losing so many trees?
Please share your thoughts below.