CHAMBLEE, GA, November 12, 2014 – by The Post – The City of Chamblee together with the Chamblee Chamber of Commerce and the Downtown Development Authority hosted a groundbreaking ceremony Wednesday at the future site of ‘The Olmsted.’
Cocke Finkelstein Inc. (CFI), in a joint venture with Macauley + Schmit (MS) and Origin Capital Partners, will develop a 283-unit, Class A live-work community adjacent to the Chamblee MARTA station that will become the “Southern Gateway” to the city’s historic downtown, complete with the name “Chamblee” on the rooftop. The Olmsted first multifamily project approved in Chamblee in nearly a decade, and sits less than three miles from the GM plant redevelopment, the Centers for Disease Control (CDC), State Farm’s new headquarters and the Town Brookhaven mixed-use development. The community is between the “Peachtrees”(Peachtree Road and Peachtree Boulevard) and will front Peachtree Boulevard.
The project is being led by Atlanta-based Cocke Finkelstein, a full-service multifamily real estate services firm overseeing approximately 40,000 units. Cocke Finkelstein’s property management subsidiary, CFLane, a top 35 national multi-family community manager, will serve as property manager of The Olmsted. Cocke Finkelstein’s partners on the project are Macauley + Schmit, who is also a partner in the redevelopment of the nearby GM assembly plant in Doraville, as well as Chicago-based Origin Capital Partners, an institutional real estate investment firm, which recently opened an Atlanta regional office and, with this project, is making its fifth investment in the Atlanta market.
“The Olmsted Chamblee is a model mixed-use, Transit Oriented Development (TOD) and a landmark gateway to historic Downtown Chamblee,” said Stephen Macauley, principal at Macauley + Schmit. “From a planning and design perspective, the Olmsted Chamblee will set the standard for future development in Chamblee and provide an iconic element for the city. Our team is greatly appreciative of the efforts of the City and its Downtown Development Authority, without which we would not have been able to achieve our mutual goals of creating an exceptional community.”
Niles Bolton Associates is the architect and interior designer and Resource Branding & Design is creating the branding and design.
Mayor Eric Clarkson said, “This project is a great step in the right direction in transforming Chamblee from what it once was into being more of a walkable, liveable community. This project sits at the crossroads of an opportunity to truly connect our city.”
The Olmsted Chamblee is also a major part of Chamblee’s ongoing economic revitalization, which in recent years has included the $400-million expansion of the CDC campus, the adaptive re-use of 5256 Peachtree into office space, and a number of streetscape enhancement projects.