Published on July 29th, 2016 |0
Loudermilk Cos.’ condo/retail development in Village to be named ‘The Charles’
The Loudermilk family has had a tremendous influence on the economic development of Buckhead for decades, starting when Charlie Loudermilk founded rent-to-own giant company Aaron’s Inc. and started a life as a powerful Buckhead civic and business leader.
That legacy has been carried on by Charlie’s son Robin Charles Loudermilk, president and CEO or The Loudermilk Cos. and one of Buckhead’s most prominent land owners and active developers.
Also a significant part of The Loudermilk Cos. now is Robin’s son, Robert C. (Charlie) Loudermilk III, who is project manager for some of the firm’s active developments within the Buckhead Village.
The Charles will rise in the Village just one block from the former Aaron’s headquarters and virtually across the street from Buckhead Theatre, an events venue Charlie Loudermilk paid millions to preserve. The Charles will also sit across Peachtree Road from a triangle park that bears Charlie Loudermilk’s name.
The Atlanta Business Chronicle announced the naming of the new mixed-use condo/retail building in a follow-up article to the earlier announcement of the development plans by The Loudermilk Cos. (To read the Business Chronicles July 29 story, click here.)
At 225 feet, Loudermilk’s new project will be among the tallest buildings in the Buckhead Village, rising over Peachtree and East Paces Ferry roads with 57 condos averaging 3,000 square feet, the ABC reports.
The building will likely feature units starting at $1.5 million, according to the ABC, with just five units per floor. The condo units will be above 30,000 to 40,000 square feet of street-level
storefronts along Peachtree Road. (To read BuckheadView’s earlier story on the development, click here.)
John Mears is a development partner with Loudermilk on The Charles and Lord Aeck Sargent Inc. is the project’s architect. Brasfield & Gorrie is the contractor.
The Business Chronicle reports that The Loudermilk Cos. will likely need to sell at least 35 percent of the units before construction begins. That could come as early as January.