Streets of Buckhead soon to include new hotel, office building, retail space
By Kevin Duffy, The Atlanta Journal-Constitution McClatchy-Tribune Regional News Sep. 26–The Streets of Buckhead project is expanding across Peachtree Road to include the site of the old Three Dollar Cafe and adjoining land. Ben Carter Properties and Barry Hotel Partners announced Tuesday plans to build a Hotel Monaco, a Class A office building and 55,000 square feet of retail and restaurant space on 2 acres at the Pharr Road intersection. Ben Carter said the hotel will cater to business people and families, and it won’t be exceedingly trendy or expensive. Construction is expected to begin next year and wrap up in 2010. The bulk of the Streets of Buckhead project is on the other side of Peachtree Road , where demolition has been under way for a while. The additional land means the development has grown to nine blocks. A few years ago, the development site was the city’s No. 1 party scene. But after outbreaks of violence, the city cracked down, making arrests and forcing bars to close earlier. Businesses suffered and became ripe for purchase. Hotel Monaco is Streets of Buckhead’s second confirmed hotel. Barry Hotel also is developing 1 Hotel and Residences, which will include 48 condos. A third hotel, an “ultra-luxury” international brand with about 100 rooms and 42 condos, will be announced soon, Ben Carter said. Plans for a Paces Plaza Hotel and Residences have been scrapped. Hotel Monaco is part of the San Francisco-based Kimpton Hotels & Restaurants. Ben Carter is under contract to buy the additional land for the project from Brad Bradshaw and plans to sell the hotel portion to Barry. Carter said acquisition and development of the additional acreage will cost roughly $250 million. Investment in the entire Streets of Buckhead development is expected to top $1 billion. That includes construction of about 350 luxury apartments by Wood Partners.
Streets of Buckhead plans also call for 80 high-end retailers. A new one was announced Tuesday — Loro Piana, which sells clothing and accessories.