Westside Ironworks, LLC, a partnership of Frank Buonanotte, founder and chairman emeritus, The Shopping Center Group, and Jeff Stein, founder and principal, Stein Investment Group, announced that it has plans to spend $6 million to buy and redevelop a former Westside industrial site in Atlanta. Westside wants to redevelop the property into 18,000 square feet of shops and restaurants, and filed a rezoning application with the City of Atlanta on June 11 seeking to modify the property to a mixed residential commercial (MRC) zone. The new development would turn three aging industrial buildings into two commercial platforms, totaling 18,000 square feet.
"West Midtown is the epicenter of Atlanta's newest wave of urbanism. No other neighborhood matches the history and character of the industrial buildings that define this node – undeniably a significant component of the area's energy and success," said Buonanotte of the site selection. "Our team was not only fascinated by the sheer volume of the existing Ironworks structures with the amazingly high ceilings, exposed truss work and massive doors and windows, but we were also attracted to the uniqueness of the existing community and the opportunity to enhance what has become one of the magnet neighborhoods for foodies, fashionistas and those seeking a hip, modern lifestyle."
Building One, immediately adjacent to Howell Mill Road, includes 14,400 square feet slated to house five to seven retail tenants along with a small casual food concept. Building Two, positioned in the northeast corner of the site, is designed for a 3,600-square foot, contemporary dining experience delivered by a chef-owner concept. An existing, third building will be demolished to allow for additional parking. Construction is expected to begin early 2014 with tenants opened by mid-year.
For more news and information visit Blumberg Capital Partners.
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