Atlanta’s Presidential Hotel could become 282 apartments in $53.3m plan
DeKalb County has approved a $53.3 million plan to convert the long-vacant Presidential Hotel in Atlanta into 282 market-rate apartments. The project aims to revitalize a prominent, dilapidated landmark into a functional residential community.
Why it matters
It illustrates urban renewal efforts and the repurposing of abandoned commercial real estate to address housing needs.
A 14-story building that once used to be the Presidential Hotel before falling into disrepair is all set to have a change of fate once again. For years, the cylindrical tower was seen as an eyesore by the travellers in one of the region's busiest interstate intersections. Project estimates show that more than 426,700 vehicles pass the prominent site each day. But soon, this tower may be the home of many, according to a report by The Atlanta Journal-Constitution.On Monday, DeKalb County announced it issued a key permit allowing multifamily firm Aramar Investments to convert the tower into 282 market-rate apartments in a $53.3 million project. It is the latest attempt to renew the life of one of metro Atlanta's most visible vacant buildings. The county issued a Land Disturbance Permit for the site located at 4001 Presidential Parkway near the I-85 and I-285 interchange.
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