Atlantic Realty Partners to build high-rise luxury apartment project on Dante’s Down the Hatch site

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Atlantic Realty Partners announced today thatit has entered into an agreement to acquire and redevelop the site whereDante’s Down the Hatch restaurant is currently located at 3380 Peachtree Roadand plans to build a 10-story, 219-unit luxury apartment building on the site.   

Capitalizing on the surging demand for new,high-end housing and a lack of new supply in recent years, Atlantic will in thenext few weeks submit plans to the city of Atlanta for the new development on the2-acre parcel on Peachtree Road across from Lenox Square. 

An architect's rendering of Atlantic Realty's planned apartment building 

The high-rise tower, which is expected tobreak ground in the spring of 2013, will be located in the heart of Buckhead’sbusiness and shopping district adjacent to the Mandarin Oriental Hotel and thenew Del Frisco Grille. 
"This site is in one of the mostappealing locations in Atlanta and arguably in the entire Southeast," saidRichard Aaronson, President of Atlantic Realty Partners. "With directproximity to Lenox Square, Phipps Plaza, the Buckhead Marta station, over 20 high-riseoffice buildings, and numerous 5-star hotels, this will become the premiumaddress for luxury multifamily living in Atlanta."
The press release issued by Atlantic RealtyPartners recognized Dante’s Down the Hatch as “a fixture in Atlanta’shospitality industry for over 40 years.” Restaurant owner Dante Stephensen wasrecently inducted into the Hospitality Industry Hall-of-Fame inductee and hasbeen a tireless promoter of Atlanta. 

Dante Stephensen

“Beloved by both his customers and hisemployees, Dante has always worked to keep them happy,” the press releasestated. It said announcements in the coming weeks will provide details onoperations of the restaurant in the months leading up to the start of theredevelopment, according to the press release. “Meanwhile, its business asusual, and that’s just the way Dante likes it.”
The new high-rise apartment building will havenumerous lifestyle amenities and will be built to green building standards, providingresidents the latest in energy conservation with highly efficient HVAC systems,high-performance windows, and energy-efficient appliances and lighting,according to the announcement.
Building amenities will include a rooftopresort-style pool, deck and grill cabana, as well as a large fitness center,cyber lounge, and Skydeck overlooking Peachtree Road. Interior finishes willmirror those found in luxury for-sale housing including granite countertops,stainless steel appliances, custom interior design trim and lighting packages,and hardwood floors.
Atlantic’s announcement said residents “willalso enjoy the latest in water saving measures, including water-efficientappliances and fixtures, as well as indoor environmental quality benefits likelow VOC paints.”
Atlantic Realty will also employ the latestgreen construction practices by employing on-site construction materialrecycling and the site design will maximize open space.  
"The project will be LEED Certified, and wewill be marketing the community as an eco-centric sustainable development,"said Atlantic Realty's Director of Development, Ben Curran. “Today’s consumersare becoming sensitive to these features, and they are now important points ofdifferentiation.”

Above is an aerial view of the 3380 Peachtree Road site , with the Mandarin
Oriental Hotel and Del Frisco Grille to the left and Lenox Plaza offices to
the right of the 2 acres where Dante's Down the Hatch is presently located.

The Atlantic Realty Partners team—Aaronson,Curran and architect Rafael A. Garcia—met Nov. 7 with the Developmen ReviewCommittee SPI-12 (Special Public Interest District) and received input from theDRC which included making the back of the building—essentially the parkingdeck—a more interesting back door to the property off of the ally so that itties into the Community Improvement District’s new pedestrian circulation planfor that area.
DRC member Denise Starling  explainedto the development team that the CID is working to create “an awesome  pedestrian space” back there to tie into thenew MARTA pedestrian bridge that crosses GA 400 from Stratford Road to TowerPlace and connect to the Buckhead rail station. 
The committee suggested making the bottomlevel of the parking desk more interesting to promote that ally off StratfordRoad as a pedestrian walkway.
The committee also discussed with thedevelopment team continuing its planned lobby, with a motor entrance on thewest side of the building (next to Mandarin Oriental Hotel) through thebuilding to provide a walkway on the east side of the building. The committeewas interested in looking toward future connectivity to any changes that mightcome with the Lenox Plaza next door and its drive onto  Peachtree at the traffic signal.

The committee commended the Atlantic Realty Team for bringing their plans before the DRC early in the process. The Atlantic Realty Partners team is scheduledto return to the DRC’s December meeting with a more detailed building planshowing some of the changes requested by the committee and agreed to.  

Dante Stephensen at home in his restaurant, Dante's Down
the Hatch, at the helm of his ship for over 40 years. 

BuckheadView agreed to not publish anythingabout the proposed new development until Atlantic Realty Partners gaveStephensen time to inform his employees at Dante’s Down the Hatch of theimpending closing of the restaurant.
The original nautically themed Dante’s Downthe Hatch opened in Underground Atlanta in 1970. After a portion ofUnderground  was demolished to make wayfor the Five Points MARTA station, business lagged and Stephensen bought the 2acre tract in Buckhead and moved Dante’s Down the Hatch to 3380 Peachtree Road.
The favorite quote of the 86-year-oldrestaurateur, who has rarely missed a night greeting customers in 40 years, issaid to be: “Find something you love to do; then you won’t have to work a dayin your life.”  

(To read the Atlanta Business Chronicle's profile of Stephensen when he recently was inducted into the Hospitality Industry's Hall of Fame, go here.)   
Atlantic Realty Partners, founded in 1989 byRichard and Andy Aaronson, is a multifamily development and management companywith headquarters in Atlanta and regional offices in Chicago and Charlotte.Since its inception, the company has developed luxury residential and mixed-useproperties representing over 3,000 units.
The company recently broke ground on a newapartment community in the Collier Hills neighborhood of southwest Buckhead andis building a new residential hi-rise in Evanston (Chicago), Illinois.  Earlier this year, the firm completed theReserve at Johns Creek Walk apartments in north Fulton County.