Tucker PATH Westside Trail. Image provided to Tucker Observer
By Logan C. Ritchie
When commercial real estate firm Parkside Partners bought the Tucker Exchange building at 2059 Northlake Parkway three years ago, they intended to use the iconic building for commercial office space. The pandemic slowed demand and lowered the number of employees on site at many companies, said Parkside Partners Principal Kyle Jenks.
Changing direction, Parkside engaged AHS Residential to create a mixed-use development with 60,000 sq. ft. of commercial office space and two additional 9-story towers on site for residential units.
The developer discussed its plans with the community during a public input meeting held Dec. 9.
Turning office buildings into residential housing is a trend Tucker has been seeing all year. NRP Group is eyeing 2300 Northlake Center Drive as a possible 324-unit residential development, and Tucker City Council approved an 80-unit work/live property at 2245 Northlake Parkway in June.
Jenks described the Tucker Exchange project as a “vibrant, walkable residential development” at a public participation meeting on Dec. 9, the first step in applying for a Special Land Use Permit to increase the number of units per acre from 24 to 39.
The Tucker PATH’s proposed westside trail will run close to the property, but AHS was unfamiliar with the city’s plans.
AHS is putting around $60 million into the 13-acre property. Residential unit rental prices will be market-driven, said Juan Fernandez, AHS director of real estate development, starting around $1,300. He could not confirm the breakdown of studio, 1, 2 and 3-bedroom apartments.
Jenks said Tucker is a safe and desirable community.
“These apartments in Buckhead would be $3,000 or $4,000, so it’s a nice alternative, and we’ve made a serious investment in this neighborhood. We like that it’s not trying to be some of the other intown markets, but it’s going to have that urban feel that most young people want today,” said Jenks.
Tucker residents in attendance were concerned about an increase in traffic, affordability and amenities.
“It seems like you’re looking to attract young, more affluent people. There are no jobs for them in this area. Where are they going to work?” asked one resident.
AHS in building several metro Atlanta developments, including a multi-family housing development near Kensington Marta station on Memorial Drive.
Read the original story on TuckerObserver.com.
