$400M Construction Project in Brookhaven
The Sembler Co. plans two major regional power centers in metro Atlanta, including a massive project near Oglethorpe University.
The St. Petersburg, Fla.-based developer will build a mixed-use center on Peachtree Road near Cross Keys Drive. To be called Brookhaven Place, the $400 million project will have 1,200 residential units, in a mix of apartments, mid-rise condominiums and townhouses. In addition, it will have 600,000 square feet of retail space, 15 restaurants, and a five-story, 150,000-square-foot class A office tower, said Jeff Fuqua, Sembler’s president of development in Atlanta.
“This is the largest piece of land that existed on Peachtree [Road] since they built the [Phipps Plaza and Lenox Square] malls,” he said. “It’s a true, mixed-use project on this site.”
Brookhaven Place should be complete in 30 months, Fuqua said.
Sembler, which has also built Perimeter Place, Lindbergh Plaza, and Edgewood Retail District, wants to use many of the elements from each of those projects in Brookhaven, Fuqua said. “It will be twice the size of Lindbergh, but will have the feel of Perimeter.”
“This section of Peachtree is really great, but the commercial along that corridor is really ratty,” he said. “This is going to change the dynamics of that whole corridor. This is going to do what Edgewood and Lindbergh do, spur a lot of other quality investment in the corridor.”
Atlanta Business Chronicle - June 2, 2006 by Lisa R. Schoolcraft
