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FEATURE ARTICLE, SEPTEMBER 2006
MIDTOWN ATLANTA SCORES A 1010
Atlanta’s skyline is about to change. Development plans are set and construction is underway for 1010 Midtown, a 35-story, 630,000-square-foot mixed-use complex featuring 443 high-rise condominiums and 38,000 square feet of retail and dining space. A joint venture between Daniel Corporation, Selig Enterprises and the Canyon-Johnson Urban Fund (CJUF) will develop the project in Atlanta’s Midtown submarket on Peachtree Street between 11th and 12th streets. Construction for 1010 Midtown began in August and the first condominium homes will be available in the fall of 2008 with the retail shops opening in early 2009.
The mixed-use development is set to be the cornerstone of Midtown Alliance’s Midtown Mile, the 14-block Peachtree Street corridor between North Avenue and 14th Street. Midtown Alliance has set a goal of 2 million square feet of retail along the corridor. “Atlanta has embraced intown living and the convenient, sophisticated lifestyle it brings,” says Steve Baile, vice president of Daniel Corporation. “It is time to offer a commensurate product type; and we have been planning 1010 Midtown for a long time.”
“Midtown is experiencing a phenomenal resurgence,” says Scott Selig, vice president of Selig Enterprises. “It is becoming a world-class destination with international business, premium retail and luxury living all meshed together in a vibrant central location. The new development, 1010 Midtown, is strategically located to embrace the momentum of the area.”
Daniel Corporation has experience developing residential, commercial and mixed-use properties throughout the Southeast and Mid-Atlantic states while Selig Enterprises has experience in retail development and management in Atlanta. “Our teams share the same vision — creating a Midtown where residents and visitors can walk to restaurants, shops, entertainment and more,” Selig says.
This is the second joint venture for the two companies in Midtown. Daniel Corporation and Selig Enterprises partnered together on The Plaza Midtown mixed-use development in Midtown. It consists of two towers with 418 condominiums that sit atop approximately 70,000 square feet of ground-floor retail anchored by a 33,000-square-foot Publix. With 1010 Midtown, the two companies are teaming with CJUF. This will be the second investment for CJUF in Atlanta and the company predicts many more Atlanta investments in the future.
1010 Midtown will be situated on 2 acres and will target young professionals and empty nesters. It will offer one-, two- and three-bedroom floorplans that will feature 10-foot ceilings, hardwood floors, stainless steel appliances, stone baths and large balconies. Amenities will include a state-of-the-art fitness center, a clubroom, a swimming pool and a private deck-top plaza.
Midtown Alliance has guided Midtown’s progress since 1978. Their goal is to make Midtown Atlanta a great place to live, work and play. Daniel Corporation, Selig Enterprises and CJUF’s 1010 Midtown as well as the Midtown Mile are steps in the right direction.
— Daniel Beaird
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