{"id":1004027270,"date":"2011-02-25T06:26:42","date_gmt":"2011-02-25T14:26:42","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004027270"},"modified":"2022-12-08T19:42:45","modified_gmt":"2022-12-09T03:42:45","slug":"olivermcmillan-commits-300m-to-restart-atlanta-mixed-use-project","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/olivermcmillan-commits-300m-to-restart-atlanta-mixed-use-project\/","title":{"rendered":"OliverMcMillan Restarts Project"},"content":{"rendered":"<p>By Barbra Murray, Contributing Editor\u00a0<\/p>\n<div id=\"attachment_1004027290\" style=\"width: 310px\" class=\"wp-caption alignright\"><a class=\"highslide\" href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/02\/jaaron.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004027290\" data-attachment-id=\"1004027290\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/olivermcmillan-commits-300m-to-restart-atlanta-mixed-use-project\/jaaron-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/02\/jaaron.jpg\" data-orig-size=\"500,297\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"jaaron\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Courtesy Flickr Creative Commons user jaaron&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/02\/jaaron.jpg?w=500\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/02\/jaaron.jpg\" alt=\"\" title=\"jaaron\" width=\"300\" height=\"178\" class=\"size-medium wp-image-1004027290\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/02\/jaaron.jpg 500w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/02\/jaaron.jpg?resize=300,178 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004027290\" class=\"wp-caption-text\">Courtesy Flickr Creative Commons user jaaron<\/p><\/div>\n<p>Fresh evidence\u00a0that the worst of the financial crisis is over has surfaced\u00a0in Atlanta with\u00a0OliverMcMillan &#8216;s plans\u00a0 to rekindle development of The Streets of Buckhead. The luxury mixed-use community\u00a0came to a halt in 2009 when original developer Ben Carter Properties L.L.C. was squeezed by\u00a0the credit crunch. Upon completion of the acquisition, OliverMcMillan will invest $300 million to bring the project to life.<\/p>\n<p>OliverMcMillan will acquire the incomplete development from a multi-party group that is currently controls the property, including Ben Carter Properties. With eight acres to play with, The Streets will ultimately consist of an array of luxury commercial and residential offerings spanning six blocks in Atlanta&#8217;s tony Buckhead neighborhood. The pedestrian-friendly destination will feature two apartment towers encompassing an 376 residences, 40,000 square feet of Class A office space and 320,000 square feet of retail space and \u00a0restaurants. &#8220;We&#8217;re seeing a strong interest among luxury retailers and local restaurateurs already,&#8221; said Jeremy Meredith, development director for OliverMcMillan. There will also be parking to accommodate 2,200 vehicles.<\/p>\n<p>Loans for projects of The Streets&#8217; scale are still difficult to come by, but OliverMcMillan is undeterred by the current state of the credit markets. &#8220;We have an investor who has committed to being able to put all the financing in place,&#8221; Meredith said. A construction loan will be part of the package, he added, but it will not be a prerequisite for starting the project.<\/p>\n<p>OliverMcMillan&#8217;s acquisition of The Streets is on track to close in the next 60 days. The company plans to commence construction later this year and complete the project in 2013. The Streets marks OliverMcMillan&#8217;s entr\u00e9e into the Atlanta development market. &#8220;We&#8217;ve had incredible support from the city and the community, and we look forward to getting started on something that&#8217;s been a hole in the ground for the last two years,&#8221; Meredith said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>There will be an investment of $300 million to bring The Streets of Buckhead to life. The mixed-use project will ultimately consist of an array of luxury commercial and residential components spanning six blocks in the tony neighborhood.<\/p>\n","protected":false},"author":969,"featured_media":1004027290,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21783,21752,21742],"tags":[],"class_list":["post-1004027270","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-investment","category-mixed-use","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>OliverMcMillan Restarts Project - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/olivermcmillan-commits-300m-to-restart-atlanta-mixed-use-project\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"OliverMcMillan Restarts Project\" \/>\n<meta property=\"og:description\" content=\"There will be an investment of $300 million to bring The Streets of Buckhead to life. 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