ATLANTA--(BUSINESS WIRE)--Nov. 10, 2006--Daniel Corporation, Selig Enterprises and the Canyon-Johnson Urban Fund (CJUF) today announced plans for 12th & Midtown. Spanning three city blocks, 12th & Midtown is a 2.5-million-square-foot mixed-use development featuring Class A office towers, luxury hotels, premium residences and flagship retail. With this development, the team becomes the largest single contributor to Atlanta's Midtown Mile.
"The City of Atlanta is dedicated to improving the Atlanta experience for residents and visitors alike - and 12th & Midtown is a giant step forward in accomplishing this goal," said Atlanta Mayor Shirley Franklin. "We are thrilled that Daniel Corporation and Selig Enterprises have teamed up with Earvin 'Magic' Johnson and the Canyon-Johnson Urban Fund again. As a team they are committed to providing an improved quality of life for Atlantans while continuing to contribute to the economic growth for the state of Georgia."
The partners have strategically assembled three city blocks at the intersection of Peachtree and 12th streets to create a robust master plan in the heart of Midtown, which will feature more than 1.2 million square feet of Class A office space, over 500 hotel rooms, more than 600 residences and up to 150,000 square feet of flagship retail space. The development is designed to enhance the pedestrian streetscape and to maximize views of the Atlanta skyline and Piedmont Park. The street level has been carefully designed to accommodate the demands of world-renowned flagship retailers, including 35-foot-high storefronts and super-graphic displays, for a commanding presence along Atlanta's Midtown Mile. The retail features are akin to the much heralded Magnificent Mile in Chicago.
12th & Midtown will consist of the following components:
-- Phase 1: 1010 Midtown, located at 1080 Peachtree Street Announced in August, this 35-story high-rise will offer 443 residences and up to 50,000 square feet of flagship retail and dining space. Construction is underway and the first homes will be available in the fall of 2008. More information is available at www.1010midtown.com. -- Phase 2: located at 1075 Peachtree Street Construction of this project is slated to begin in the spring of 2007. It will consist of a 725,000-square-foot Class A office tower, up to 60,000 square feet of flagship retail space and a 400-room luxury hotel topped with 100 signature residences. -- Phase 3: located at 1125 Peachtree Street The third component of the project will include an additional 500,000 square feet of Class A office space, 40,000 square feet of flagship retail and a boutique, five-star hotel topped with a select number of luxury residences.
"12th & Midtown is one of our most monumental projects to date," said Steve Baile, vice president of Daniel Corp. "We are excited to contribute some of the region's finest shopping and dining along with first-class residences, not to mention Class A office space and luxury hotel accommodations to the heart of Midtown."
"The development will embody a sophisticated, yet relaxed, lifestyle," said Scott Selig, vice president of Selig Enterprises. "We, along with Midtown Alliance, envision that Atlanta's Midtown Mile will be comparable to Chicago's Magnificent Mile and New York City's Madison Avenue with several major retailers finally enjoying an Atlanta presence. We are proud to be a major contributor to this important endeavor."
Previously, Daniel Corporation, Selig Enterprises and the Canyon-Johnson Urban Fund (CJUF) partnered to create the highly successful The Plaza Midtown mixed-use development, consisting of two towers with 418 condominiums atop 70,000 square feet of street-front retail anchored by a 33,000-square-foot Publix.