It appears Midtown’s apartment building momentum could continue forward.
Patch has learned that an application for a 285-apartment building constructed above a podium deck with ground-level retail space has been submitted to the Midtown Development Committee (DRC).
The building would be located at 131 Ponce de Leon Avenue, which is at the corner of Ponce and Juniper Street. The current structure there is the 38,000 square-foot, two-story glass, marbled brick “Pei” Building, named after its architect, IM Pei.
Since last year, Atlanta-based Bull Realty has been marketing a 2.5-acre property, including the 131 Ponce location, that is bounded by Ponce, Piedmont Avenue, North Avenue, and Juniper that comprises nearly an entire city block. On its website, Bull Reality says the property is approved for 1.4 million square feet of mixed use or commercial development. A message left by Patch with Bull Realty has not been returned at this time.
Including the Pei Building, which currently does have business tenants, two other buildings on the property located near the south end of the Midtown Mile help bring the current total of building space to more than 75,000 square feet.
The site was once planned to be home to the “Fountain On Ponce” mixed-use site that never broke ground.
Chris Branch, senior managing director for the Charlotte, N.C.-based real estate investment, development and management company Faison Enterprises, is expected to be among a team presenting its application to the DRC on Tuesday, July, 10.
He told Patch on Thursday that he was unable to comment on the application as contract negotiations had not been finalized.
Last month, the DRC approved Novare Group’s plans to build a 23-story 320-unit luxury apartment building called “100 6th Street.’’ The mixed-use tower along Juniper Street between 6th and 7th streets will be constructed just a few blocks away from the Ponce property.
Two other Midtown luxury apartment buildings are currently being built in the area of 12th St. with a target opening date of early 2013.
Also last month, a long anticipated 30-unit apartment building near Piedmont Avenue and 12th St. completed construction and is now taking rental applications.