Kolter Urban is at it again. 

The Delray Beach, Florida Florida-based developer bought a 4.7-acre site in Buckhead on March 25 for $38 million, with plans to erect its third luxury condominium tower in the district. 

The 20-story building will be called Elyse Buckhead and offer 196 residences. It will join Kolter Urban’s other luxury condo towers in the area: the Graydon Buckhead and the Dillon Buckhead. 

The Elyse will have a mix of one-, two- and three-bedroom floor plans ranging from 1,200 to over 4,000 square feet. Kolter Urban plans to build on 2.7 acres of the 4.7-acre site, which is currently home to a small shopping center that includes Drybar, a beauty salon, and Penley, an art gallery.  

Reid Haley with Hailey Realty Company helped broker the deal.