Days could be numbered for another surface parking lot in the heart of densifying Midtown.
Core Spaces, a Chicago-based residential real estate developer, owner, and operator, is aiming to build a high-rise that would house more than 1,200 people on the site of a current parking lot, according to a Special Administrative Permit application filed with the City of Atlanta last week
The project, called Hub Cypress, would take shape next to a protected Midtown landmark, the Historic Academy of Medicine, at 875 W. Peachtree St.
A Core affiliate is currently under contract to buy the property for an unspecified amount.
The .8-acre parcel in question is bounded by 7th Street to the north, Cypress Street to the east, and the Academy of Medicine to the west. It’s located just behind the Spire Midtown condo tower and immediately south of Ecco Midtown restaurant.
According to Core’s application, the tower would house about 295 apartments geared toward students, or 1,211 beds. No commercial space is planned.
Looking north across the parking lot and surrounding blocks in Midtown today, with Cypress Street shown to the immediate right. Google Maps
How the tower proposal would consume the corner site at 7th and Cypress streets. Core Spaces/Kimley-Horn
The Hub Cypress site is roughly two blocks from Core’s first student-housing project in town, Hub Atlanta, which opened for the fall semester last year. The development team has described that 292-unit building—a glass and panel-clad structure with a four-story parking garage almost fully concealed—as “stunning.”
Core’s new tower proposal would have nearly the same number of units as Hub Atlanta but more than 400 additional beds.
We’ve reached out to Core officials this week seeking project renderings, plus information on the building’s proposed height and construction timeline. This story will be updated with any additional information that comes.
Filings…
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