Generation Atlanta Takes First Steps Toward Vertical Reality
A year after a legal dispute was settled, developers are moving forward with the Generation Atlanta apartment tower.
Kaplan Residential has filed permits to begin construction on its Generation Atlanta apartment tower in Downtown. The permit seeks a green light for the first phase of construction of the $83M project, which includes the parking garage, lobby, fitness room and the core shell of the building itself.
Generation Atlanta is a planned, 336-unit apartment tower at 377 Centennial Olympic Park Drive, an undeveloped parcel next door to the new Downtown W and EY's regional headquarters at 55 Allen Plaza.
Kaplan CEO Morris Kaplan has long targeted this site for a more affordable market-rate apartment project to counter the skyrocketing rents seen in the nearby Midtown market. But his dreams became hampered by a legal spat between the Atlanta Housing Authority and The Integral Group during the previous city administration.
The city ultimately withdrew its lawsuit against Integral over attempts to void a decades-old agreement with the developer over the right to buy and develop parcels of city-owned property.
Prompted by that dispute, Kaplan sued both Integral and the AHA in 2018 over allegations that their dispute was preventing the sale of the parcel at 377 Centennial to Kaplan. That suit was also settled and the sale went forward by March of last year.
Kaplan previously told Bisnow Generation Atlanta could deliver by 2020.
