82,000-square-foot mixed-use project breaks ground near Emory University.
UPDATE (Nov. 1, 2011): CVS, Solar Dimensions and Marlow’s Tavern among first group of retailers to lease space at Emory Point
Cousins Properties and Gables Residential have started construction on the $250 million Emory Point mixed-used development on Clifton Road.
The development will be the first new retail project built in the “trade area” in 20 years, according to a press release Tuesday.
Located in the Clifton Corridor adjacent to the Centers for Disease Control and Prevention and in close proximity to Emory University and Emory Healthcare, Emory Point is a vertically integrated mixed-use development.
Phase one will include more than 80,000 square feet of retail space and 443 luxury apartments. Which Wich is among the first tenants who have leased space at the development.
Under the DeKalb County zoning plan for Emory Point, 25 acres of densely wooded land behind the development, approximately half of the site, will be protected as “undevelopable” under Emory’s land classification plan.
“Emory Point sets the new standard for the Emory community because it blends pedestrian-friendly retail with luxury apartment living, all while being an environmentally conscious development,” David Fitch, Gables Residential president and CEO, said in a press release.
“There is tremendous pent-up housing demand in this neighborhood, making Emory Point a bright spot in an otherwise challenging market.”
The $100+ million phase one of the project began construction early July and is expected to be complete by fall 2012.
The second and third phases of the project will be developed according to market demand in an area. Emory University, which includes Emory Healthcare, is the largest employer in DeKalb County and the third largest employer in metro Atlanta.
“The proximity of Emory Point to our campus will enhance the social and intellectual vibrancy at Emory by providing housing, dining and retail venues for faculty, staff and students,” Mike Mandl, executive vice president for finance and administration for Emory University, said in the release.
“This type of mixed-use development was envisioned during the creation of the Clifton Community Partnership five years ago, and it is gratifying to see it coming to fruition.”
Stay tuned for confirmation on other restaurant and retail tenants.
