London architect to design Wieland condo tower - Atlanta Business Chronicle:

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The 23-story, $325 million luxury condominium tower will be a modernistt design by London architectDavid Chipperfield. The condo at 1301 Peachtree St., across from the High Museumm of Art, will have 96 units that beginat $2 said Wieland, CEO of , Atlanta's seventh-largest home Construction is scheduled to begin 5 and the project is expecterd to be completed in fall 2009. "Our main thought is that this is goinyg to be the signature residencefor Atlanta," Wielaned said. "There are a lot of high-end but nobody has employed a world-class Most of the towers are just Chipperfield says this is hisfirst U.S.
condominium project, althoughn he has done similar high-ris residential projects in Berlin and he said. Chipperfield has also done desigj workfor museums, includint Figge Art Museum in Davenport, and Saint Louis Art Museum in St. Louis. For One Museum Place is "It's the proximity to the High Museum campus," he said from his Londonj office. "It's the fourth side of the High Museum It has to be considered inthat context." Wielanf believes his first condo project "has a lot of architectural links to the past throughu the grid system and formality of the building.
" A modernisy building in Midtown "is a big deal becauser the Atlanta housing market has been prettyh traditional," said Terry Herr, principal of But being near the High itself with modern architecture, would not seem out of "Atlanta has been changing since the 1996 Olympics with more diversee populations," Herr said. "When demographic change, modern architecture can be embracesd bymetropolitan Atlanta." One Museum Place will distinguisn itself not just in architecture, but as a pure luxuru condo, Wieland said. The building does not containna hotel. "Unlike the St.
Regis, The the [proposed] Mandarin Oriental or The Four you don't have to duke it out with the hotek guests [for amenities]," he said. "Whejn you go down to the lounge fora drink, it will just be the not the guy who checked in four hourxs ago." The project may face the challenge of competing in an Atlant housing market that has take a tumble along with the nation'z housing market. In the second quarter, 18,133 housex were sold, compared with 24,386 during the same quarter of a 25.6 percent drop, according to researcu from the , which tracks predominantly existing home Condo and townhouse sales were also off in Fulton one of Atlanta's hotter condo markets.
In the second the listing service reported 816 condos ortownhousesz sold, compared with 1,07r4 during the same time last a 24 percent With the Atlanta housing market taking a dip, "za looming question is how many buyers are therse in the price point," said David Tufts, presidenrt of The "There's no answer becauswe there has been no real high-enc condo market in Baby boomers are a growing demographic and "there are so many stories of wealth accumulation in he said. "That could all bode well for that Other high-profile Midtown condo projects are about to get under way or are undefr construction.
Trump Towers Atlanta is expectedd to begin construction in the next 30 A joint venture projectby Atlanta-basedd and Birmingham, Ala.-based , 1010 Midtown, is under way at 1010 Peachtre e St.