Zoning approved for Euramex’s Kirkwood project
Atlanta’s City Council has approved zoning for a large multi-family development in Kirkwood. Now the waiting begins.
Ted Bradford in City Councilwoman Natalyn Archibong’s office told Decaturish that Atlanta City Council signed off on the zoning for 1910 Bixby Street and that it awaits the signature of Atlanta Mayor Kasim Reed. Steve Rothman, attorney for project developer Euramex, said if the mayor doesn’t sign it within eight days, the zoning automatically goes into effect.
He said the zoning was approved last week. Euramex had an option to purchase the apartments, built in the 1960’s. The purchase was contingent upon the zoning. The company wants to develop 250 to 260 apartments behind Kirkwood Station. Euramex Vice President Jetha Wagner told the Kirkwood Neighbors’ Organization back in September that the first phase will consist of 85 units. The development will consist of one-bedroom apartments that will be available for $1,100 to $1,200 and two-bedrooms available for $1,500 to $1,600. The apartments will wrap around a secured parking deck.
Rothman said the company won’t begin construction until market rates improve enough for the project to be profitable.
“They’re evaluating the market and when they feel like it’s ready to absorb a decent amount of the units, they’re ready to go,” Rothman said.
He didn’t have a definite time frame. He also doesn’t know if the company plans to demolish the current apartments at 1910 Bixby regardless of whether it moves forward with the project. Rothman said he believes the company does intend to develop the property. It’s just a question of timing.
“They’re in it to make it happen,” Rothman said. “In terms of time, they speculate shorter rather than longer. When I say shorter, I mean closer to six or seven months away, at which point you begin the engineering. (Then it’s) 12 to 18 months out for permitting. All of that is contingent on the market. That’s their best guess now.”
Euramex also recently purchased the 13-acre Fenner Dunlop property in Avondale Estates and the “erector set” building at the corner of College Avenue and Maple Street. The company’s plan is to develop a mixed use project in Avondale.