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Atlanta & Southeast  + Atlanta  + Apartments  | 
Atlanta's Buckhead district skyline

High Rent and Low Vacancy Turn Loudermilk’s Attention from Offices to Apartments in Buckhead

Loudermilk Cos. has revised its vision for a 1-acre lot in Buckhead. Three years ago, the developer was planning to build offices. This week a permit was filed to build 314 apartments at 359 East Paces Ferry Road.

In 2015, Loudermilk proposed building a 12-story spec office building on the site. In 2019 project renderings were unveiled and plans were made to break ground in 2020. Pre-leasing began, but the pandemic impacted progress on the project.

Today, direct leased office space in Buckhead has a vacancy rate of 23 percent, as noted in Avison Young’s Q1 2023 Market Report. The multifamily vacancy rate is less than seven percent according to Cushman & Wakefield’s most recent Atlanta multifamily market report. In the Atlanta market, Buckhead is second only to Midtown in average rent per apartment.

Loudermilk’s new project encompasses 314 units, including 182 one-bedrooms, 82 two-bedroom, five three-bedroom, and 45 studio apartments.

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About Angela Noote

Angela Noote is a native of Northern California and graduated from Chico State with a degree in public relations. After college she moved to the Central Coast and worked first in ad sales then in editorial, eventually spending more than a decade as a print reporter and editor. She detoured into design work at a printer/publisher, and with a partner eventually opened a boutique full-service marketing agency. Moving into corporate communications, she built and managed several successful marketing teams in the hospitality, financial services, and nonprofit industries. Most recently she was an internal comms manager in the tech sector. After a long stint spent in Georgia (Go Dawgs), she moved to Baton Rouge, LA and has written for clients in the financial, luxury imports, higher ed, commercial cleaning, and medical equipment industries. Her son is a media arts major at the University of South Carolina, and her husband owns a comedy theater in Baton Rouge, where you can often find Angi teaching improv classes, leading corporate training events, or doing an occasional stand up set.

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