Published on February 6th, 2016 |3
Disco Kroger center to be transformed to live, work, play mixed-use
“We’re using our redevelopment expertise to transform an aging property in a fantastic community into a vibrant and sustainably designed neighborhood expansion project,” Equity One’s website explains about its plans for the aging center on Piedmont Road just north of Peachtree Road.
Although it may take a few years for all the present leases to expire, Equity One plans to turn Piedmont Crossing into a “combination of upscale and necessity-driven retail, state-of-the-art office space and high-end residences for Buckhead’s increasingly metropolitan population.”
Equity One paints the project as attracting “locals and destination seekers alike, leveraging Buckhead’s reputation as ‘The Beverly Hills of the Southeast.'” It is unclear what stage the plans are in and whether there is financing for the project.
In what has been described as an unusual action, the developer apparently released a set of renderings of the Piedmont Crossings redesign. They were picked up and posted Friday on the websites of Bisnow real estate news service and the Atlanta Business Chronicle.
The release of the renderings was unusual because no details of the redevelopment plans were released along with the renderings. “That is unusual,” Livable Buckhead Executive Director Denise Starling told BuckheadView. “It is almost like someone leaked the drawings.”
Starling heads up the Development Review Committee for SPI-9 (Special Public Interest district), which would have to review the development plans before they could proceed through the city of Atlanta for building permits. She told BuckheadView Equity One has not scheduled a date with the DRC for any such review meeting.
While the release of the renderings without specifics for the project is somewhat unusual, redevelopment of the shopping center does not come as a total surprise. There have been rumors floating around Buckhead for months about the transformation of the center.
More attention became focused on the Piedmont Crossings property when Coro Realty Advisors filed plans last September for a major multi-use development on its Piedmont Road property adjacent to the Equity One property. Those plans include almost 40,000 square feet of retail/restaurant/office space, a 186-room hotel and 190 apartments.
Named Buckhead Place, the present 150,000-square-foot Coro shopping center is anchored by LA Fitness, Marshalls, apartment building 05 Buckhead and a Hyatt Place hotel. The two retail
components of the new development front on Piedmont Road. The hotel and apartment lobbies will front on the private access road that runs from Piedmont Road to Maple Drive.
The south portion of the Coro development consists of approximately 5,500 square feet of retail/restaurant space on the first floor and a 186-room hotel. Coro is partnering with McKibbon Hotel Group on the new hotel, according to plans.
The north side of the development has approximately 33,000 square feet of retail/restaurant/office space on two levels that is along Piedmont Road and wraps down the private drive and into an internal courtyard.
On the north side of the drive there will be 190 apartment units planned with a 7-story deck plus underground parking. The amenity deck is the top level of the parking. The plan is to operate this as Phase II of the apartments from 05. The new units are planned as smaller, and complement the existing units of O5, which was previously developed by Coro.
BuckheadView reported at the time of that announcement that Coro hoped to begin construction of the new phase of the shopping center in the first quarter of 2016. However, that timetable may be delayed because of current discussions regarding the widening of Piedmont Road between Peachtree and Lenox Roads.
The 2008 Piedmont Area Transportation Study recommended that the section of Piedmont Road from Peachtree to Lenox Road (the Buckhead Loop) be widened to accommodate a dedicated left-turn lane to improve traffic throughput, especially during rush hours.
The Buckhead CID is working with GDOT and the City of Atlanta to determine if the roadway can be widened without moving the high-tension utility poles and also if the corridor can accommodate a wide sidewalk or multi-use path.
Both the Equity One and Coro properties are across Piedmont Road from the Terminus mixed-use development that combines office, residential and retail at the primary crossroads of the Buckhead commercial district, the intersection of Peachtree and Piedmont roads.
The Terminus buildings are located right up against the sidewalk along the east side of Piedmont Road, which means any extra land needed for the widening of Piedmont would have to come from the west side, impacting both the Coro and Equity One properties.
Coro President John Lundeen, who is vice chairman of the BCID, told BuckheadView after the CID’s meeting last August that the road project could affect his company’s development if property has to be taken on the west side of Piedmont to facilitate the widening project.
According to a document submitted to the SPI-9 DRC, Coro has agreed to dedicate 10 feet of property along Piedmont Road to accommodate the widening of Piedmont. “Coro has provided for this 10 feet and the opportunity for an additional 9 feet to allow for the future widening of Piedmont Road in accordance with the Buckhead CID’s 2008 Piedmont Area Transportation Study,” the document states.
(To read the earlier story about the planned Coro development, click here.)