Residents of Crescent Place Apartments in Midtown have until the end of the month to find a new home after learning the building’s property is included in plans for a massive new mixed-use development.
Apartment management gave residents a 30-day notice to move out of the building located at the intersection of Crescent Avenue and 13th Street, 11Alive news reported.
A property manager told the TV station the building was recently sold and that the site “has been slated for redevelopment for years.” Some residents expressed frustration to the TV station for not receiving more notice to move. They also said the $1,200 rent at Crescent Place was at a price they could afford while also living in Midtown.
Rents in Midtown are skyrocketing and average one-bedroom rents in Atlanta hover around $1,900 to $2,000, according to Rent.com.
The Crescent Place Apartments’ property is included in plans for the Midtown Exchange mixed-use project by Selig Development. Midtown Exchange – bounded by 12th Street, Peachtree Walk and 13th Street – would include a 37-story residential building with 465 units and street-level retail at the corner of 13th Street and Peachtree Walk, and a 26-story office tower located along 12th Street.
The Midtown Exchange project comes after Selig’s recent completion of the nearby 1105 West Peachtree development. The $530 million 1105 West Peachtree development includes a 32-story office tower to be anchored by Google.