Piazza at Paces to be first new urbanist project in Atlantas most prestigious neighborhood

ATLANTA, Oct. 1, 1999 Work is under way on a major new urbanist development in Buckhead. Phase I of the project, Piazza at Paces, will feature a mid-rise office building and condominium situated along Northside Parkway and Howell Mill Road.

The project team includes Ronus, the U.S. real estate arm of a European group owned by Ronald de Waal; Ben Carter Properties, a leading real estate developer in Atlanta; and Southeast Capital Partners, Atlantas premier condominium developer.

Plans call for Piazza at Paces to blend in with the Buckhead community and enhance the rich architectural tradition of the area. Piazza at Paces will feature a European styled open space, or piazza, between the two buildings. The developments classical design is reminiscent of the Italian Renaissance.

"We have literally spent hundreds of hours researching what was best for the site in terms of scale and product," said Bob Anderson, president of Ronus. "The focus weve had from the beginning has been on quality. The Piazza at Paces vision illustrates our commitment to and respect for Buckheads past and future."

Piazza at Paces is located on a 17-acre site that previously served as the headquarters for American Security Corp. Phase I of Piazza at Paces will feature a nine-story, 212,000-square-foot Class A office building, called The Forum and The Borghese, a 12-story, 64-unit condominium with two penthouses. Both projects are scheduled to be completed by the fall of 2000.

Ben Carter Properties will develop The Forum. CNM, an Atlanta real estate management company jointly owned by Ronus and Ben Carter Properties, will lease and manage The Forum. Both The Forums and The Borgheses primary investor is Ronus, Inc.

"We want Piazza at Paces to be extraordinary, from the landscaping to the piazza and everything else in between," said Anderson. "The combination of a European vision with local Atlanta partners has created a stunning, one-of-a-kind project in Atlanta."

The inspiration of the project led to the Italian name and design for Piazza at Paces.

The Forum and The Borghese: Signature Buildings

Ben Carter of Ben Carter Properties believes that The Forum, with its prime location, will be appealing for numerous businesses. "The office building will attract a wide range of tenants," Carter said. "Tenants will be boutique firms and various professional service firms whose principals live in the Buckhead area and dont want to fight the traffic downtown or on the Perimeter."

The Forums real estate timing couldnt be better as more and more companies are looking for office space in Buckhead. Plans call for rental rates at The Forum to be around $28 per square foot. Amenities at The Forum will include a restaurant, a news stand, sundry shop, car detail, concierge, florist, travel agency, dry cleaning and shoe shine. Each floor of the building will feature ten grand balconies with French doors opening to views of the piazza and formal Italian gardens.

"We like both our marketing and leasing positions," said Carter. "We are already meeting with key commercial brokers in the Atlanta area to familiarize them with the projects amenities, exceptional quality and architectural integrity."

The architectural firm for The Forum is Cooper Carry. The firm pored over drawings and other work completed during the American Renaissance period, particularly by Neel Reid and Philip Shutze. "The Forum and The Borghese are a return to the heritage and classical designs of Atlanta in the early 1900s," said Jerry Cooper of Cooper Carry. "Having studied architecture in Italy, I have a keen appreciation for the revival of Renaissance design in America."

Southeast Capital Partners, which has developed over $100 million in multi-family real estate and condominium properties in Atlanta, will develop The Borghese condominium. Southeast Capital Partners projects have included the successful renovation of The Ponce in downtown Atlanta and the development of Heritage Place and Brookwood Place in Buckhead, and Brickstone Heights in North Fulton.

"A major difference between The Borghese and what has been done in other areas of Buckhead is our meticulous use of architectural details," said Jay Clark, principal with Southeast Capital Partners. "The details on the facade alone are unprecedented. It will remind people of what you see at The Ponce downtown across the street from The Fox Theater on Peachtree."

Clark sees a captive audience for the sales of The Borghese. And, he believes he wont have to go far at all to attract interest.

"We are targeting empty nesters in Buckhead and Vinings and couples who had children young and who are now looking for a beautiful place to live with all the five-star amenities included," said Clark. "These are people who want to stay in the neighborhood versus living right off of Peachtree Road."

Units at The Borghese will average 2,300 square feet and will be priced from $500,000 to over $1,000,000. Amenities at The Borghese will include 24-hour concierge/attendant, heated swimming pool, fitness center, a guest suite, clubroom, and underground assigned parking. For security, elevator access and all entries will be card access only.

A restaurant is planned for The Forum as well as The Borghese. Plans call for the Borgheses restaurant to be a fine-dining experience and for The Forums restaurant to be more casual.

The lead architectural firm for The Borghese is Alexander Weiner Baker of Atlanta. Leo O. Daly is the associate architectural firm on the project. Alexander Weiner Baker has completed residential, institutional and commercial projects totaling over $300 million in construction costs.

A Logical Alternative

The Piazza at Paces development team believes the project is a natural alternative to the urban sprawl that has plagued Atlanta for some time. With the project in the heart of Buckhead, Piazza at Paces will elevate the new urbanist movement to new heights in Atlanta.

"New urbanism is defined not just by a site but by the surrounding neighborhoods," Clark said. "The neighborhood for the project has every major bank in Atlanta, upscale restaurants, grocery stores, prestigious schools and other amenities."

Added Ben Carter, "Piazza at Paces location is superior to any project in the area. Its accessibility is exceptional, with three exits off I-75. From the West Paces, Moores Mill and Mt. Paran exits, you can be in the development in five minutes or less. Its unusual to have three interchanges serving such a small commercial segment. As a tenant, you can count on this accessibility for a long time."

Creating A Sense of Place

The ornamental use of land around Italian villas was the inspiration behind the landscaping of Piazza at Paces. The research for Piazza at Paces revealed that it was important to use formal gardens and other landscaping highlights, such as gazebos and fountains, to complement the Italian Renaissance motif of the development.

The first impressions of the project will be its natural beauty. Piazza at Paces will have a double row of oaks on Northside Parkway that will carry into the development and line the main road into the piazza. The development will also feature formal gardens that tenants and visitors can enjoy. The aim is for the visual image of the gardens to say more than words.

The Piazza at Paces landscape architectural firm is Hughes, Good, OLeary & Ryan (HGO&R). HGO&R is an internationally recognized landscape architectural and planning firm.

"When you combine the landscaping with the architecture, Piazza at Paces will provide people in Buckhead with a much-needed sense of place and living," said Anderson. "Its our hope that the space will become more important than the buildings themselves. This is what happens when great projects take shape. We are attempting to re-create some feeling of belonging, as in the past, in the often impersonal world of today. Piazza at Paces will be a place for people who appreciate life."