Two developers have announced plans to build luxury apartment projects in the Buckhead Village area, very close to The Streets of Buckhead development site.

Preserve Properties LLC, led by Atlanta apartment developer John Draper, has announced plans to build an eight-story luxury apartment building at 92 West Paces Ferry Road, adjacent to the two-year-old St. Regis Atlanta hotel and residences. Initial plans call for 250 units.

Earlier, JLB Partners L.P. announced that construction could begin in spring on a luxury $60 million, five-story apartment building across Pharr Road from The Streets of Buckhead, just off of Peachtree Road.

The two announcements indicate a certain optimism that The Streets of Buckhead project will move forward, now that CB Richard Ellis Investors and other financial interests have replaced Ben Carter Properties with OliverMcMillan of San Diego as the project’s developer. Work will reportedly resume on that project this summer.