ATLANTA — Banyan Street Capital and Greystar have received construction financing for Ascent Peachtree, the partners’ $125 million, 29-story apartment building in downtown Atlanta. Ascent Peachtree will comprise 345 residential units, 70 of which will be reserved for workforce housing, and will be built on top of an existing parking garage, with residential units beginning on the 11th floor. Invest Atlanta has provided the joint venture with a $9 million loan from Atlanta’s Eastside Tax Allocation District, as well as a lease-purchase bond financing for the project to ensure the workforce units. Additionally, 20 percent of the units will be affordable housing units. Ascent Peachtree will offer studio, one-, two- and three-bedroom floor plans ranging in size from 680 to 2,380 square feet. Amenities will include a swimming pool, outdoor entertainment space and a rooftop lounge. Banyan Street and Greystar expect to break ground in May.
Ascent Peachtree will comprise 345 residential units, 70 of which will be workforce units, and will be built on top of an existing parking garage.
Banyan Street, Greystar Receive Construction Loan for $125M Multifamily Building in Downtown Atlanta
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