Apartment developer Pollack Shores said Thursday it has completed its purchase of land at an office park in Sandy Springs where it plans to build 425 apartments.
The company said its new apartment and retail development at the Palisades office park at Peachtree Dunwoody Road and I-285 will bring a live and play vibe to a suburban style office complex home to companies that include New York Life.
The Sandy Springs-based developer said it will also cover much of the cost of a new street connect Peachtree Dunwoody Road and Perimeter Center Parkway.
The Central Perimeter area near Perimeter Mall has seen a spurt of new corporate office campuses, including one by Cox Enterprises, the parent of The Atlanta Journal-Constitution, and insurance giant State Farm.
Apartment development in Sandy Springs has followed with thousands of units coming to market in recent years, and more expected to follow.
“As the city of Atlanta and its surrounding suburbs continue to grow, fewer undeveloped parcels of land are available. We were really drawn to Palisades’ proximity to MARTA and its location near numerous job centers in the Perimeter market,” Pollack Shores Managing Director Michael Blair said in a release announcing the project. “We feel the property is a perfect candidate to redevelop into a more usable and walkable destination that better serves the existing office tenants, neighboring properties and future residents.”
The project is expected to open in winter 2018.
The announcement comes on the heels of reports that Pollack Shores will postpone development of a multifamily project in the Buckhead Village area amid concerns of overbuilding there.
