Today’s All About Real Estate edition of the Atlanta Real Estate Forum Radio Show features Merritt Lancaster, Principal at Paces Properties. Merritt discusses the history of Paces Properties and the exciting new developments the company has been working on.
Paces Properties began in the 1970’s and company creator, Felix Cochran, developed one of the builder’s most notable properties, Vinings Jubilee. One of the first outdoor, boutique shopping malls, Vinings Jubilee sits in the heart of Vinings and continues to be a popular and successful shopping center. Paces Properties prides itself on finding the right real estate locations and then developing the assets around those locations. This strategy helps to set Paces Properties apart from other builders.
One of the builder’s most popular and most recent developments is Krog Street Market, a nine-acre mixed-use development located along the new BeltLine trail at Edgewood Avenue in Inman Park. Krog Street Market opened in the summer of 2014 and because of its past life as a cast iron stove manufacturer, Paces Properties had to dedicate time and effort into removing environmental contamination found on the site. Taking into consideration that the property was adjacent to single-family housing, Paces Properties wanted to make sure that whatever ended up in that spot would be beneficial to families in that community as well as the surrounding area. The solution became the unique mixed-use development that took inspiration from popular markets in other cities such as, Oxbow Market in Napa California, Melrose Market in Seattle and Jamestown Market in Chelsea New York.
Krog Street Market sits along the BeltLine and that location played a big part in the deal to create the development. Because of the impact of the BeltLine on the area surrounding it and the available property within its proximity, Paces Properties decided to take on the old Atlanta Dairies building just off the BeltLine on Memorial Drive in Reynoldstown. The redevelopment of the old dairy processing plant will revitalize the well-known Memorial Drive corridor and bring new residents to the surrounding neighborhoods, which are some of the greatest neighborhoods in Atlanta. Merritt explains, “We’re talking Grant Park, Cabbagetown, Reynoldstown, Kirkwood, Edgewood… these neighborhoods are Atlanta.” While inspecting the site, the Paces Properties team decided to create a community of loft offices, retail, restaurants and a music venue.
As development continues to thrive in downtown Atlanta, Paces Properties is putting its stamp on the growth with The Office, a 327-unit apartment project that sits on the East side of downtown on Piedmont. The project will utilize pedestrian tubes previously constructed by The Portman Companies and will connect the new apartment community with businesses in the Peachtree Center area. Paces Properties believes in the strength of the downtown Atlanta area and its potential to sustain long-term growth and creating a large growing residential community.
As Paces Properties continues to revolutionize the way communities around Atlanta are formed, be sure to stay tuned to Atlanta Real Estate Forum for updates on their new developments. To find out additional information about Paces Properties and the projects they are currently working on, visit www.PacesProperties.com.
Atlanta Real Estate Forum Radio’s “All About Real Estate” segment airs on Fridays and highlights the movers and shakers in the Atlanta real estate industry – the home builders, developers, Realtors and suppliers working to provide the American dream for Atlantans. For more information on how you can be featured as a guest, contact 770-383-3360 or via the contact form on this site.
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