Lenox Square quietly preparing for apartment construction?

Indianapolis, Indiana-based Simon Property Group seems to be quietly preparing to begin construction on its long planned apartments at Lenox Square. Originally proposed in 2006, word got out last year that the plans were back on and included two towers with some 750 one, two and three bedroom units.

Permits recently filed with the city of Atlanta seem to indicate that the project has once again changed. A project located at 3393 Peachtree Road (Lenox Square's address) is described as "Lenox Towers Development of a high-rise apartment building with parking deck, private drive, and all SPI required streetscape and hardscape. 35 stories, 440 units."

Interestingly, Lenox Towers already exist. Located across the street from Lenox Square at 3390 and 3400 Peachtree, Lenox Towers were built in 1966 and were Buckhead's first high-rise development. The towers are commercial, not residential, and are not associated in any way with Lenox Square or Simon Property Group.

Also, whereas last year the apartment project was to include two towers, this latest intel seems to suggest just one building, 35 stories tall, with only 440 units.

The residences will be built on a rather small parcel of land adjacent to GA 400, behind Bloomingdale's and Neiman Marcus. The parcel is home to a former SunTrust ATM and has been used to store construction supplies for the ongoing restaurant and retail additions.

Phipps Plaza is also getting a new development, AC Hotels by Marriott is slated to rise near the corner of Wieuca and Peachtree Roads, behind Nordstrom. AC Hotels are design driven and are most common in Spain where there are over 50 properties.

The hotel at Phipps Plaza will be among the first of the AC brand in North America. The chain is similar to Courtyard by Marriott in being a limited service hotel with no food service or meeting space. The hotel will reportedly be six stories, with two levels of parking, both connected to Phipps Plaza.

The lower level will reportedly offer vehicle connection to the Phipps Plaza parking desk with a walking connection for pedestrians on the upper level.