A once-dilapidated section of east Atlanta is feeling the benefits of a $150 million mixed-use development. After 24 months of construction, the Sembler Co. completed the final phase of its Edgewood Retail District project in September. The project includes 600,000 sq. ft. of retail and office space and 250 residential units.
“Live, work and play is the concept of life in the future,” says Craig Sher, president and CEO of the Sembler Co., based in St. Petersberg, Fla. “A shopping center with office space and residential allows people to get most everything in daily life accomplished without having to get into a car.”
One of the largest retail tenants at Edgewood is department store Target, which has already become the top-grossing Target outlet in the city. The Atlanta metro area has 35 other Target outlets. The balance of the project's retail space is already 100% leased.
On the residential side, Sembler gutted a defunct shoe factory on the Edgewood site in order to build condominium units. While these loft units will not be unveiled until July, Sembler already has a 500-person waiting list. Mixed into Edgewood's residential component are 138 affordable units designed for senior citizens, plus 40 townhouses.
“Mixed-use is the answer to land shortage problems, and it helps to create a convenient and enjoyable life,” says Jeff Fuqua, Sembler's president of development.