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This Week in Atlanta Real Estate: Pink Palace’s new owner promises tasteful renovation

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Controversy erupted recently when plans filed with the city of Atlanta showed that parts of the property at 541 W. Paces Ferry Road NW, which is known as the Pink Palace, could be partially demolished, the lot subdivided into three separate lots with the Pink Palace in the center, which would block the residence from a public street. However, Thierry Francois, founder of Francois & Co. and the new owner of the Pink Palace, told the Atlanta Business Journal that residents do not have to worry about the renovation, as he plans to maintain the integrity of the original building. Additionally, the demolition was not part of the original design and was added on in the 1980s. You can read more from Francois in the Atlanta Business Journal.

In other Atlanta real estate news:

  • One of Atlanta’s most iconic buildings is going through a $4 million interior overhaul. Curbed reports that the Hurt Building’s new owners are adding an amenity floor to the penthouse and revitalizing “the lobby’s original marble details while introducing a modern touch.” The renovation’s new modern design will also include a Starbucks and a Relay bike-share station.
  • Taylor Morrison announced three new communities in the Atlanta area that will include more than 250 single-family homes and townhomes. The three locations are Townsend at Chamblee, which will have 42 townhomes; Townsend at Perimeter, which will have 87 townhomes; and The Collections at Perimeter Park, which provides 100 townhomes and 30 single-family homes in a gated in-town village, according to BuilderOnline.
  • Get a first look at Mill Creek Residential, the new 21-story luxury apartment tower in Buckhead, in the Atlanta Business Journal. Once completed, the development will have 400 luxury units and more than 21,000 square feet of high-end retail space. Eventually, it will have a destination sky bar, a large demo kitchen for mixology and cooking classes, an open-air social lounge and a lawn for outdoor games. Mill Creek should be ready for its first move-ins later next year.
  • Crescent Communities broke ground on a new apartment project in the Old Fourth Ward. NOVEL O4W is a 233-unit apartment project that will include 10,500 square feet of creative office space. The new space is a joint venture with State Farm and Transwestern Investment Group, according to Bisnow Atlanta.

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