1301 Peachtree Street (One Museum Place) Rises Again… Third Times The Charm?

Remember the One Museum Place project a while back? Well the prime Midtown site at 1301 Peachtree Street is about to get a new owner, and some new life.

The nearly 2-acre tract of land is owned by John Wieland of John Wieland Homes & Neighborhoods Inc. According to the Atlanta Business Chronicle, Weiland has two offers for the property and expects to have a deal as soon as 30 days. Fantastic, because we are running out of new condo projects and units (I don’t know if you have been looking, but inventory is tightening up very quickly).

On April 9, 2010, I let you know about one of those potential buyers, Alvin D. James, who was interested in building yet another hotel/retail/office/condo project. His revised $150 million plan includes a 30-story mid-rise tower with a 5-star, 150 room hotel, 70 luxury condos and 24 penthouses (along with high-end retail and 3 restaurants). Oh, did I mention there may also be a performance hall, spa, pool and meeting space? All in a 650,000 square foot tower. With two potential bidders, James may not even see his plans come true, but lets hope so!

Could the luxury hotel brand be a Peninsula Hotel or Shangri-La Hotel? We already have most other luxury hotel brands scattered in Buckhead and Midtown.

I’m looking forward to seeing what happens with the land and what they are actually going to build.