Construction Starts on $250M Emory Point Project
- Jul 22, 2011
Cousins Properties Inc. and Gables Residential have kicked off the $250 million Emory Point mixed-use development, the largest private development to start construction in Atlanta’s Perimeter in more than three years. Located in the Clifton Corridor, the project will rise on a site adjacent to the Centers for Disease Control and Prevention and near Emory University and Emory Healthcare, the developers disclosed in July 19.
The $110 million first phase will include 443 luxury apartments and more than 80,000 square feet of retail, and is scheduled for fall 2012 completion. Timing of two future phases will hinge on market demand, the developers said.
Nearly half the site—25 acres of densely wooded land—is protected from development under the DeKalb County zoning plan. The previous zoning left that section unprotected. The site is registered for EarthCraft Communities certification, while the apartment component is a candidate for EarthCraft Multifamily certification. Retail portions are also being designed to EarthCraft standards.
Also in the works for Atlanta is medical office project. A city permit application details plans for a 238,000-square-foot office building and parking deck at 206 Edgewood Ave., according to the Atlanta Business Chronicle. City records indicate that Malachi Development L.L.C is the project’s owner. The project follows a pattern of recent medical-related projects by such owners as WellStar Health System, Children’s Healthcare and Piedmont Medical Plaza L.P.