So long, Grand China. Hello high-rise!

Preserve Properties LLC is now one step closer to bringing another new residential tower to Peachtree Road just south of Buckhead Village. The long-anticipated project got some momentum last week with the demolition of the former Grand China restaurant building, reports BuckheadView.

Proposed back in 2014, the tower will bring 125 to 140 two- and three-bedroom luxury apartments to the site. Averaging a staggering 1,700 square feet a pop, units in the building won't come cheap, with prices from $3,800 to $5,800 per month. Each floor will feature a maximum of nine units, with fewer on the top floor.

Designed by Reese Vanderbilt, the building has a classical leaning, but with modern lines and lots of glass. While there will be no street-level retail, the building will contain 314 resident parking spaces on the bottom five floors, with a courtyard, pool deck, social room, guest suite, and fitness center on the sixth floor.

And for those still craving Chinese food — have no fear.

The owners of Grand China have spent the last few months renovating an old house a block away from their old location in order to continue to serve the community. Plans call for the new location at 2905 Peachtree Road to be open by the end of the month.