In The News...

Ackerman plans The Stratford

Atlanta Business Chronicle
Rachel Tobin Ramos
August 18th, 2006

Another luxury project is in the works in Buckhead -- this one with $6 million condominiums, a 300-room hotel and exclusive fashion boutiques that could lure the likes of Prada and Gucci.

In other words, something that might seem more at home on the Champs-Elysés that Peachtree Road.

Developer Charles Ackerman, responsible for Tower Place and the Swissotel (now the Buckhead Westin), is planning the project at 3368 and 3372 Peachtree, where there's now a Christian Science church and the parking lot for Maggiano's Little Italy restaurant.

Ackerman & Co.'s three-phase development will include 498 luxury condos, 300 hotel rooms and 12,500 square feet of retail space.

He wouldn't disclose the cost, but hinted it will be several hundred million dollars.

Partners in the development include Destin and Atlanta-based hotel developers Sandcastles Resorts & Hotels; Atlanta's Wood Partners LLC for condominiums; and Bob Day and Joe Wilen's Day Capital.

The architect is Joe Rabun with Rabun Rasche Rector and Reece, also the architect of the Four Seasons in Midtown and the planned Buckhead St. Regis.

In phase one, sores will rise on Peachtree Street, topped by three floors of condos that Ackerman expects to sell for an eyebrow-raising $6 million each.

This comes on the heels of developer John Williams and City Centre Properties LLC's plans for $3 million condominiums at The Mansion on Peachtree, a 50-story-mixed-use tower at 3376 Peachtree Road. Both are unprecedented prices for Atlanta.

Phase two of Ackerman's project will boast a luxury, 300-room Hilton hotel, topped by 190 condos in a 43-story tower, with a five-story underground parking deck. (Ackerman says to imagine a Hilton more akin to a Ritz-Carlton.)

A 20-story tower with 300 condos will be built behind the hotel in the final phase.

« Return to News Articles