A parking lot in one of the busiest — and most expensive — areas of Midtown is expected to soon become the home of hundreds of college students.
Texas-based multifamily developer LV Collective announced Tuesday it will build a 215-unit luxury apartment building atop the parking lot at 736 Peachtree St., which is located two blocks away from the Fox Theatre and a quarter-mile from Georgia Tech’s campus. The developer paid $19.3 million earlier this year to acquire the 1-acre lot, which ranks as the second-most expensive Midtown sale this year.
The development team, which also includes Kanye Anderson Real Estate and Pacific Life, is calling the building Rambler, marketing it toward Georgia Tech students. The 457,000-square-foot building named after the institute’s mascot will include units ranging from single bedrooms to six-bedroom suites, totaling nearly 800 beds.
“As Georgia Tech continues to experience growth, there is a continued need for student housing,” LV Collective CEO David Kanne said in a news release. “We’ve designed Rambler to complement the student lifestyle with its prime location and desirable amenities.”
Rambler will include a Daydreamer Coffee location and a study mezzanine with coworking space and private study rooms. The building’s top floor will also boast a resident lounge, fitness center, yoga studio and a rooftop pool and hot tub. Apartments will rent at market rates.
LV Collective first presented its intention to develop the parking lot in August 2022. The firm pitched a 37-story tower, which would include 480 market-rate apartments. However, LV Collective scrapped that plan, presenting an alternative 19-story student housing concept to the Midtown Development Review Committee in July.
The development team broke ground in August and expects to open the apartments in the fall of 2025 in time for the 2025-2026 academic year. The project will be LV Collective’s second student housing project in Midtown, following an 168-unit building along Spring Street that was completed earlier this summer.
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