A $125 million high-rise with a rooftop lounge is set to open in downtown Atlanta as early as 2021, the city’s economic development agency announced Thursday.
Ascent Peachtree will sit atop the nine-level 161 Peachtree Center Avenue Garage and include a limited number of affordable housing units, according to the Invest Atlanta news release. Construction on the apartment project began Thursday.
The news release coincided with Atlanta Beltline Inc. announcing it had allocated $11.9 million as part of its affordable housing budget. The agency, which Invest Atlanta oversees, is charged with building 5,600 affordable housing units by 2030.
An Atlanta Journal-Constitution investigation found the agency only funded 785 affordable homes in 2017 — halfway through the Beltline’s scheduled completion.
By the end of 2018, the group had built 1,642 units and another 582 units were in the pipeline, according to the release. Another 250 units are scheduled for development this year.
At Ascent Peachtree, roughly 20 percent of the 345 units will be reserved for residents who earn 80 percent of the area median income or less.
The 29-story building will include studio, one-, two- and three-bedroom apartments that range between 680 and 2,380 square feet. Pricing for the units has not been released.
Residents will have access to a resort-style swimming pool, outdoor entertainment space and rooftop lounge.
The apartment project is expected to be complete by 2021.
In the meantime, here are more renderings:
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