At last the property is getting some long-overdue attention in the way of major renovations.
The 272-unit rental property located on Holcomb Bridge Road has been purchased by Audubon Communities, a multi-family real estate and investment firm, which is making a major investment to update the 40-year-old complex.
The complex, which has 208 apartments and 64 townhomes, also has a new name - The Centre at Peachtree Corners.
"It's being completely renovated inside and out," said Property Manager Kenya Smoot. She said the renovations include:
- New plumbing and electrical
- Replace siding, adding new roof
- Adding sidewalks throughout the complex
- Adding a picnic area, and children's playground
- Adding a business center and gym
Audubon Communities, based in New York, took over in December 2011. According to its website, the company owns and manages over 15,000 apartment units.
Smoot said the work is expected to be complete in about nine months assuming no major weather-related delays. Company officials declined to reveal the cost of the renovations.
The interior of the apartments and townhomes will be completely remodeled with hardwood floors and tiled bathrooms. The kitchens will feature stainless steel appliances and granite countertops.
"It's a major renovation," said Smoot who added that some of the interior walls of each unit will be removed to create an open-floor plan. The sliding-glass doors will be replace with French doors.
Smoot said rates for the renovated units, which range from one, two and three bedroom apartments and two and three bedroom townhomes, has not been set but she expects the monthly rental rates to increase by $200 to $300.