Despite headwinds such as spiking interest rates in the commercial real estate industry, the densification of East Atlanta Village continues.
Vertical construction has begun on a project that’s bringing more than three dozen new housing options and retail space to a village lot that’s housed surface parking, outdoor dining space, and seasonal Christmas tree sales over the past 15 years.
Atlanta-based Pellerin Real Estate, a firm best known for the Beacon warehouse redevelopment in Grant Park, broke ground on the boutique mixed-use venture this past summer. It’s claiming a 462 Flat Shoals Avenue site immediately north of Argosy restaurant and bar.
Pellerin’s principal, Philippe Pellerin, says the four-story building is on pace to deliver in fall 2024, marking the company’s sixth project in EAV.
Plans call for 37 apartments, ranging from studios to two-bedrooms, atop roughly 5,000 square feet of retail space along Flat Shoals, all screening a new parking lot in back. The main façade will be bookended by balconies, according to designs by TSW architects.
The .65-acre site includes 160 feet of frontage along Flat Shoals, where an opening in the building’s façade will serve as the entry point for parking behind it.
According to a LoopNet listing, the project is already seeking restaurant and retail tenants.
Plans originally called for breaking ground in summer 2022, but Pellerin took last winter to mitigate turbulence in the industry, refine the project’s design, obtain necessary permits, and finalize pricing, the developer previously told Urbanize Atlanta. The apartments-over-retail concept has simplified designs versus the more retro, brick-clad building initially planned, though the project’s scope hasn’t changed.
Pellerin’s projects elsewhere in EAV have remade numerous properties along nearby Glenwood Avenue.
Those include Southern Feed Store, a six-stall food hall concept that overhauled longtime EAV destination Graveyard Tavern. The developer also finished construction last year on a three-story, mixed-use project called The Marbut, next to Hippin Hops Brewery and Oyster Bar. It includes 6,000 square feet of ground-floor commercial spaces, topped by 21 one-bedroom apartments.
Other Pellerin projects in EAV include three revitalized storefronts on Glenwood Avenue where OxFit gym, OxWork business club, and a fusion coffee shop concept by The Victorian plant purveyor and Bellwood Coffee have opened.
The Flat Shoals project would continue an influx of real estate investment across EAV that’s seen multiple storefronts and lots transformed, as more than 70 townhomes have popped up in three separate projects, claiming underused or vacant properties in recent years.
In the gallery above, find more site context and imagery that lends an idea of what’s to come.
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