An Austin, Texas, developer is pushing for a second residential project in the heart of Tech Square.

LV Collective, formerly known as Lincoln Ventures, is proposing a 37-story residential tower at 736 Peachtree St., currently a surface parking lot at the corner of Fourth and Peachtree streets, according to an application filed with the Midtown Development Review Committee.

The project will include 480 housing units atop an eight-level, 489-space parking podium and a ninth-level indoor/outdoor amenity floor. The MDRC, an advisory committee that reviews proposed developments and makes recommendations to the Atlanta Office of Zoning and Development, is scheduled to hear the proposal Tuesday evening.

This is LV's second project in the area. In July 2021, the developer broke ground on Whistler, a 24-story student housing tower that will include 168 units with 565 beds at 850 Spring St., across from NCR's global headquarters and a half-mile north of its proposed Peachtree Street project.

Despite mounting concerns of a recession and rising interest rates hampering the financing of some new projects and real estate sales, developers remain bullish on new multifamily in Atlanta. As of the first quarter of this year, more than 11,500 units were under construction throughout the city, according to Haddow & Co. Developers had an additional 9,700 units in the proposal stages as of the first quarter.