Fifteen years after it was announced, the Peachtree Hills Place luxury senior housing development is nearing construction in the first quarter of 2017, according to developer Isakson Living. The developer is aiming for a 2019 opening.
The large project—201 condos and 12 single-family custom houses on a 23-acre site at Peachtree Hills Avenue and Virginia Place—was announced in 2005, and in 2008 the Peachtree Hills Apartments were demolished to make way for it. But the project repeatedly stalled with economic crash and a falling housing market.
Isakson Living recently announced the project is moving forward once again and that roughly half of the units in the first phase of construction have been pre-sold. The developer has previously said that construction of this type of senior housing is based on pre-sales. The condos currently start at about $700,000 for a 1,400-square-foot, one-bedroom unit.
The development’s concept is a range of luxury housing and services for people 55 and older, including memory care, assisted living and skilled nursing along with the typical housing. Amenities would include a clubhouse, various dining facilities, a fitness and wellness center, security and transportation.
In a press release, Andy Isakson, managing partner at Isakson Living, called the concept “livable luxury.”
The first phase of construction would be 85 condos and eight single-family houses. For more information, see peachtreehillsplace.com.