|By Marketwired .||
|September 11, 2013 11:48 AM EDT||
ATLANTA, GA -- (Marketwired) -- 09/11/13 -- Wood Partners will break ground in the first half of 2014 on the first high-rise multifamily project in Midtown Atlanta to solely use natural gas for home heating, hot water and cooking. The residential/retail development will be located on West Peachtree Street in Midtown Atlanta and will include high-rise and mid-rise residential buildings and approximately 20,000 square feet of retail space.
"Wood Partners has done an extensive cost-benefit analysis on the use of natural gas, and we are confident that natural gas will not only generate long-term savings to the project but it will also provide our residents with added benefits that come with using a clean, efficient and cost-effective fuel," said Bennett Sands, director in Wood Partners' Atlanta office.
Wood Partners is working with Atlanta Gas Light, which has a history of working with its community partners to build energy-efficient residences fueled by natural gas. "We are extremely pleased to collaborate with Wood Partners on this project. Their choice to exclusively use natural gas for heating purposes makes this development one of a kind, setting the standard for future developments that also will benefit from choosing safe and reliable natural gas," said Bryan Batson, president of Atlanta Gas Light.
The development will provide much-needed housing in Midtown, where job growth has outstripped housing supply. Midtown's population -- an eclectic mix of students, academics, artists and upscale professionals -- grew 105 percent, from 17,000 in 2000 to 35,000 in 2010, and the area is projected to gain another 17,000 people by 2016.
This development will be built on four acres at Peachtree Place and West Peachtree Street, which is currently a surface parking lot. In addition to its central location immediately adjacent to the Midtown MARTA station and within walking distance to Georgia Tech, Piedmont Park and the Midtown CBD, the property will feature spectacular skyline views of Midtown and downtown. Top-of-the-line amenities will include a resort-style pool deck, club rooms, and one-of-a-kind urban park and courtyard space.
About Wood Partners
Wood Partners is a national real estate company that acquires, develops, constructs and property manages high density and mixed-use communities. It was ranked the nation's No. 2 multifamily developer in 2012 based on 5,100 unit starts. Through quality construction, responsible land development and intelligent design, our communities reflect the aesthetic and social fabric of the community and provide a luxurious living experience at a fair price. The company has been involved in the acquisition and development of more than 47,000 homes with a combined value of more than $7.0 billion nationwide. Wood Partners has offices in 16 major markets nationwide including Atlanta, Baltimore, Delray Beach, Boston, Charlotte, Dallas, Denver, Houston, New York, Newport Beach, Orlando, Phoenix, Raleigh-Durham, San Francisco, Seattle, and Washington, D.C. To learn more about Wood Partners, please visit our website at www.woodpartners.com.
About Atlanta Gas Light
Atlanta Gas Light, a wholly owned subsidiary of AGL Resources, provides natural gas delivery service to more than 1.5 million customers in Georgia. In operation since 1856, the company is one of the oldest corporations in the state. For more information, visit www.atlantagaslight.com.