Quote:
Originally Posted by newuserbuckhead
For what it's worth, without the Novare projects we wouldn't have this project or any of the others. They were among the first to do urban high-rise apartments in the city and proved that model could work in Atlanta.
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It is crazy how much that funny Skyhouse building on West Peachtree catalyzed. We talked endlessly about it on this forum when it was built, and there was tons of disbelief that their rents (approaching $3/SF at the time) could ever be sustained in a city like Atlanta. People deride the building now for its standalone parking garage, but it was seen as a daring bet in 2013 or whatever and I can't really hate the building considering its place in Atlanta's development history.
The Skyhouse model was replicated numerous times across ATL, and built in Tampa, Houston, Raleigh, Charlotte, etc. It paved the way for a new format of real estate project that was absent throughout an entire region of the country. Before that, only condo buildings could deliver all of the amenities and onsite parking in a highrise, while apartments were relegated to stick-built 5-over-1s.