Published on March 31st, 2016 |0
Demo begins of Grand China, Exxon; 21-story residential in future
Preserve Properties Vice President Mike Busboom Thursday told BuckheadView that the demolition of both the Exxon gas station and Grand China restaurant had begun and would likely take about two weeks to complete.
Busboom said that would be followed by soil remediation work on the site, which he said could take three to four months. He said The Winter Company, which specializes in demolition and soil remediation is working on those phases in preparation for construction.
Included in the demolition process was the earlier removal of a billboard on the south end of the gas station property.
Meanwhile, BuckheadView spoke with a source associated with the Grand China restaurant Thursday who said Grand China hopes to reopen April 25 at its new location in the brick building located at 2905 Peachtree Road, which for about a year housed Peachtree Bikes.
K.C. and Tse-Chih Chang, owners of the house at 2905 Peachtree, apparently decided to move their Grand China Asian restaurant to the house when the building at 2975 Peachtree, where the restaurant had been located for about three decades, was sold to Preserve Properties.
The Changs have been renovating the house at 2905 Peachtree for several months getting it ready for use as a restaurant. The source told BuckheadView that Grand China had already received most of its approvals from the city of Atlanta. (For an earlier story, click here.)
Preserve Properties, which previously developed the 92 West Paces apartments next to the St. Regis Hotel and Condominiums, plans for this new development to have 125-140 two- and three-
bedroom luxury apartments averaging 1,700 square feet and ranging in price from $3,800 to $5,800 per month.
During a Dec. 2, 2015 meeting with the SPI-9 Development Review Committee, Preserve Properties CEO John Draper said the property is designed for higher income residents, many of which do not live in Buckhead all year, but for whom these units would be a second residence.
(For an earlier BuckheadView story on Preserve Properties plans, click here.)
The typical residential floor would have nine apartment units with the penthouse floor only having eight units. Draper indicated the units would be developed so that they could easily be converted to condominiums in the future if the market so demands.
There will not be any ground-level retail space included in the development plans. Draper, who has been developing properties in Atlanta for about 30 years, said retail is not in the company’s business plan. The plans call for 314 resident parking spaces, or an average of two spaces per unit.
The 21-story building will have the residential units on top of podium style parking for the first five levels, with the amenities for the residential tenants being on level 6—including a courtyard, pool deck, social room, a guest suite, fitness center, etc.
The main lobby to the building will be on Peachtree Road, but the architects have created a small motor court under the building along the drive on the south side of the building which comes off of the single planned Peachtree Road curb cut. The main lobby will be 5,100 square feet.
Mill Creek Residential has also announced plans for a massive 22-story multi-use development—with 400 apartment units and 20,000 square-feet of retail space—at the southeast corner of Peachtree and Pharr roads, less than a stone’s throw from the Preserve Properties development. But there is no indication at present when work on that project may begin.
Between the Mill Creek Residential and Preserve Properties LLC properties is a piece of property that has a driveway to an auto repair facility below and behind a building that houses an exercise equipment retailer.
That property reportedly is owned by Mary Bradshaw and is not part of either the Mill Creek Residential or Preserve Properties LLC properties. Mary Bradshaw and her brother also own the former Three Dollar Café property across Peachtree Road, but the brother is reportedly not a partner in this property on the east side of Peachtree owned by Mary Bradshaw.