Rising From The Ashes, One Museum Place Reborn
We have our first official 2010 announcement of a mixed-use project – including condos! Alvin D. James, a veteran broadcasting industry executive, plans to develop the unnamed project on the site of the former One Museum Place condo project at 1301 Peachtree Street, directly across the street from the High Museum.
With an estimated cost for the project of $350 million, the plans include a five-star hotel, street-level retail space, a spa, three restaurants, two pools and a fitness center, as well as an on-site fine art museum to house Wieland’s private art collection for the first year. 24 residences will be above the hotel. He is also planning a separate condo tower with 50 units. James said his luxury condo units will start in the low $700,000s and penthouse units will start at $1.2 million.
James is in talks with three international hotel brands as a flag for the hotel, which he plans to open in spring 2012. He said a European hedge fund, which he did not name, is fully funding the $350 million project. Design Reese Architects and Associates P.C. in Atlanta is designing the hotel.
The Atlanta Business Chronicle broke the story in today’s edition.
April 9th, 2010 at 1:11 pm
Sounds feasible. HOWEVER:Can’t see the current architects being involved in a major international project except with a Kessler Collection project, with whom they seem to be joined at the hip. There have been rumors of TKC doing a project in Midtown and with the profile of this project, it sounds like they are going to be the hotel operator.
April 9th, 2010 at 6:00 pm
We’ll see if it even gets off the ground. There are many hurdles to cross first.