New park & residential development...down the street!

In addition to the Boulevard Crossing Park, (which will be the first Beltline Park created), another new development with another new park has just been announced....right down the street from Ten Forty!
Check out the article below from the AJC.

Plan for $75 million Beltline project unveiled

By KEVIN DUFFY
The Atlanta Journal-Constitution
Published on: 10/05/07

The Lane Company plans to build 342 apartments and 57 townhomes in Grant Park near the proposed Beltline.

Plans include an 8-acre park, with a dog park, volleyball courts and a garden, and a parking deck for more than 500 vehicles.

The as-yet unnamed $75 million development will be on 18 acres fronting Confederate Avenue, between Avondale and Lester avenues.

"If you go down there and drive around, you'll see it has turned," said Edward Monarchik, Lane development partner, about the transitional neighborhood. "It has made that turn to the upside."

He said Grant Park has few apartments similar to what Lane plans. The complex will have a pool, and rents will start around $1,200 a month.

The new park will front Confederate, just east of the Beltline rail tracks. The Beltline is a proposed 22-mile transit loop on active and abandoned rail lines that would create a lot more green space in the city.

The two four-story apartment buildings will go up behind the park, concealing most of the parking deck. The townhomes will be built to the rear of the property.

Construction is expected to begin by January. The townhomes will get underway after the apartments have begun. The first apartment units should be available in the spring of 2009. The entire project could be wrapped up in 2010.

Homes sales have been in a slump, but Monarchik said "historically in that area, the townhome market has done rather well."

Lane Company built several apartment buildings at Atlantic Station, as well as element, a condo project.