Developers Steven Shores and Marc Pollack found a way to stand out from the crowd rushing to build apartments in Atlanta’s ritziest neighborhood: they’re putting their 315-unit project in Buckhead on hold.
“We found ourselves wondering if it makes sense now to move forward on a project when four or five others are on the exact same schedule,” said Shores, whose company, Pollack Shores Real Estate Group, will wait a year then reassess its plan for the luxury building. “We are in it for the long term. There’s no reason we can’t hold off temporarily.”
Read more...As Growth in Apartment Rents Slows, U.S. Developers Press Pause