This Week in Atlanta Real Estate: Historic Otis Building gets extreme makeover, and more

by Zachary Wright

Construction at the High Street Atlanta project site from Boston-based real estate investment company GID may finally come to fruition after it struck a partnership with real estate developer North American Properties (NAP). The project calls for nearly 3,000 residential units: 1,500 condos and 1,500 apartments.

Sitting on 40 acres, High Street will essentially be a mini-city, with 400,000 square feet of retail, 400,000 square feet of office space and 400 hotel rooms near the Dunwoody MARTA Station.

GID will continue constructing the ambitious project, but NAP will lead retail, leasing, marketing and community engagement efforts, according to a GID press release. Once the project is completed, NAP will oversee property management and programming.

Jason Linsley, president of GID, said in a press release that the company partnered with NAP because the developer understands the Atlanta community. “To bring High Street Atlanta to life, it was important for us to engage a local partner, particularly as it relates to retail, restaurant, and entertainment leasing.”

Construction is expected to begin sometime at the end of next year, but no delivery date has been announced.

In other real estate news:

  • The historical but long-vacant Otis Building will receive a makeover led by Ty Pennington, former host of the hit series “Extreme Makeover: Home Edition.” Owned by boutique realty firm Castleberry Hill, Otis Building will feature two retail spaces of about 1,200 square feet total, as well as six one-bedroom apartments and two two-bedroom apartments. Amenities include a basement garage with 13 parking spaces, a rooftop terrace and private balconies. Home prices range from $400,000 to a little over $1 million. The pre-sales launch, handled by Berkshire Hathaway HomeServices Buckhead, will start next month.
  • The Druid Hills United Methodist Church and preschool will be the site of a new development project called 1200 Ponce, a new condo and townhome development. Options include apartments and townhomes with one to four bedrooms, ranging from 1,600 to 4,200 square feet. According to a Minerva spokesperson, prices start in the mid-$500,000s. The first phase of residences will be completed by the end of next summer.
  • Thomas Hogan, senior mortgage banker for State Bank and Trust Company of Atlanta, joined United Community Mortgage Services as senior mortgage loan originator. Hogan, with 20 years of experience in residential mortgages, had previously held various leadership roles within the Atlanta-area mortgage lending companies, including vice president of residential lending and director of mortgage sales
  • Chuck Biskobing has joined Atlanta-based law firm Cook & James as an associate attorney. Biskobing is also licensed in Connecticut, South Carolina and North Carolina. He is a member of the real estate section of the Georgia Bar and South Carolina Bar. “Bringing Chuck on the attorney staff at Cook & James propels us further forward and positions us to provide, yet deeper resources and expertise to our clients,” Kara Cook, cofounder, said in a press release.