700 apartments, retail pitched along I-85 near Chamblee

A developer wants to build some 700 apartments along I-85 near Chamblee.

The project would go up at 3355 Northeast Expressway, a seven-acre site between Chamblee Tucker Road and the existing Regal Hollywood movie theater. The property, which currently hosts office buildings, would also welcome about 20,000 square feet of retail space, according to a “development of regional impact” filing with the state.

Few other specifics were provided.

Documents list the project’s would-be developer as Alpha Capital Partners LLC, a Pennsylvania-based private equity firm. The current property owner, meanwhile, is listed as a separate LLC with ties to Lalani Ventures — the same firm attempting a $150 million redevelopment of Underground Atlanta.

A spokesperson for that firm declined to comment.

Because of its size, the project would require approval from the state’s Department of Community Affairs. DeKalb County would also have to approve the necessary rezoning.

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