Tuesday, May 8, 2018

[UPDATE] Lennar's Buckhead Village High-Rise to Feature One Retail Space

The Shopping Center Group has been retained by Lennar Multifamily Communities (LMC) to market the one retail space in their new Buckhead Village project.  The as-yet-unnamed project will rise at the corner of Irby Avenue and Roswell Road on the site of the former Rio Bravo restaurant.  The 20 story, 291 unit building is expected to start site prep this week, and projects completion by late 2019/early 2020.  The property had been eyed in 2008 for the construction of a Hampton Inn hotel.  

The one space marked as retail/restaurant would be situated at the corner of Irby & Roswell, across from where Castellucci Hospitality Group plans to open a second location of their popular Iberian Pig restaurants late this year in the bottom of Hanover Buckhead Village, a new  luxury residential high-rise that opened this past January.  The Lennar space is 5,645 square feet, and would seem most likely to be leased to a restaurant versus a retailer.  The new apartment building is being built around Buckhead BBQ, which opened last summer in a historically BBQ building previously home to One Star Ranch and Texas State Line, among others. 

The Lennar project is one of four projects in the red hot Buckhead Village area to bring new retail space to the market. 

Hanover Buckhead Village, which welcomed their first residents in January, features five street level retail spaces, of which three are leased and the other two have LOI (Letter of Intent). The aforementioned Iberian Pig as well as Mediterranean eatery Cafe Posh and warm cookie delivery business Tiff's Treats are the three confirmed tenants in Hanover Buckhead Village, with Tiff's expected to be the first opening, potentially as soon as late this month.  In total, the property features about 11,000 square feet of retail space above which there are 353 luxury apartment units.  Not far away, at the corner of Irby Avenue and Cains Hill Place, Alliance Residential is underway with their upcoming development, The Irby.  Rising twelve stories and featuring 277 units, The Irby will also feature six spaces for street level retail/restaurant space encompassing approximately 13,000 square feet. 

The LMC property with Hanover Buckhead Village in the background 
The most recently announced development is a partnership between Canada's Great Gulf and Edens, owner of Andrews Square and assorted other Buckhead Village properties.  Great Gulf purchased about an acre of Andrews Square, and plans to develop "residential" on the site with Edens retaining the ground level retail space to lease.  The residential development will reportedly not be apartments, with sources close to the development indicating it will be condos, instead.  

Edens recently saw newly opened restaurants Bar Americano and Bar Crema close in Andrews Square after less than six months in business.  The twin closures could create an opportunity for other eateries to walk into "turn key" restaurants relatively quickly.  

As we reported in January, popular midtown eatery Woody's CheeseSteaks will be opening in the Buckhead Village later this year.  The cheesesteak restaurant will open in the former Sabot women's boutique, adjacent to popular bar Five Paces.  

Are you excited for the new changes coming to Buckhead Village?  What restaurants or retailers would you like to see open in the area?  What is your favorite Buckhead Village establishment?

Please share your thoughts below  


Unknown said...

Very ugly eyesore indeed. Buckhead being destroyed!

Anonymous said...

Zero creativity in the design of that building.... ZERO!

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