Perennial Properties Tries for SoBu Mixed-Use
Perennial Properties is going multifamily mixed-use on a key piece of Peachtree Street in South Buckhead.
The Atlanta-based multifamily developer has filed permits with the city to raze two existing commercial buildings, including the one above, and a parking deck at 1781 Peachtree St. Concurrent with that permit, Perennial has filed a land disturbance permit to develop a mixed-use project on the site, located where Buckhead borders Midtown, popularly known as SoBu. Details as to what will be involved were not clear in permits, and officials with Perennial did not return calls seeking comment.
This move comes months after Perennial purchased the neighboring property—1789 Peachtree St, home to Hanger Orthopedics. At the time, Perennial's Jay McGinnity (on right with Franklin Street's Jake Reid) told us the firm purchased the property to hold for future development. And just a year before, Perennial purchased this property for $2.8M. Again, it's not clear if Perennial intends to develop both parcels concurrently, especially since they're adjoining properties.
