Toll Brothers Reveals Vision For Dual Midtown Towers
Midtown's newest apartment project got its unveiling Tuesday at Midtown Alliance's development review committee meeting.
Toll Brothers revealed the renderings for its proposed 1018 West Peachtree project, a dual-tower development that would include a 22-story, 205-unit student housing structure and a 27-story, 385-unit apartment tower. The project, near West Peachtree's intersection with 10th Street, will also have 8K SF of ground-floor commercial space and will sit atop a shared 712-space parking structure.
Midtown Alliance's development review committee withheld its full support for the project, pending more specifics about exterior building materials and details on windows and balconies. The board also recommended Toll Brothers install short-term parking spots for ride-sharing operators, according to meeting minutes.
The DRC is made up of volunteers appointed by various parties in the Midtown community who review proposals within various Midtown neighborhoods. The board's recommendations are forwarded to the city's office of zoning and development for final decisions.
More known for its single-family housing developments, Toll Brothers has increasingly built high-rise apartment and condo buildings in cities across the country, including Atlanta.
It is finishing construction of the Osprey, a 13-story, 319-unit prefabricated apartment building in West Midtown. In May, Toll Brothers also purchased the Atlanta-based homebuilder Sharp Residential in an effort to expand its housing footprint into the metro area.
Toll Brothers is pursuing a new Midtown apartment project as apartment owners are raking in more money every year for their units. The metro area experienced the third-biggest growth in rents in the nation during the second quarter, and demand still outpaced new apartment supply by two-to-one.