Despite the BeltLine’s magnetism, Atlanta’s roaring job market, and the promise of lower interest rates on the horizon, another residential project within steps of the popular Eastside Trail isn’t moving forward as planned.
Cleveland-based NRP Group revealed plans in summer 2022 for an apartment project called Colgate Mattress Lofts that would have claimed a 2.7-acre corner parcel a block from the BeltLine in Reynoldstown.
Those plans—latter approved by the BeltLine Development Review Committee—called for replacing a longstanding warehouse that houses the Colgate Mattress company, producers of crib mattresses for nearly 70 years, with 215 apartments.
But that’s off the table now, as NRP Group has dropped its 220 Pearl St. development plans, according to neighborhood sources and marketing materials.
Earlier plans for the Reynoldstown venture where Pearl Street meets Fulton Terrace. The NRP Group; designs, Lord Aeck Sargent
We’ve reached out to NRP Group officials for more information on their decision to pull back in Reynoldstown, and this story will be updated with any additional details that come. The company’s online portfolio shows no projects delivered, planned, or under construction in Georgia.
The nine-dock Colgate Mattress warehouse property is now being marketed for rent. Built in 1955, the building spans about 63,000 square feet, according to LoopNet.
The cancellation could also be viewed as a loss for relatively affordable housing near the Eastside Trail, as NRP Group planned to make 10 percent of the rentals available at 60 percent of the area median income, complying with the BeltLine Inclusionary Zoning Ordinance.
BeltLine DRC members in fall 2022 applauded the planned architecture and overall site plan for Colgate Mattress Lofts. The developer’s efforts to preserve trees on the site—namely in a future plaza area—also gained kudos.
Site of the proposed Colgate Mattress Lofts in…
Read the full article here
