Buckhead Atlanta Finally Opens
September 26, 2014
Atlanta Business Chronicle
In 2011, San Diego developer OliverMcMillan scooped up about 8 acres of a stalled mixed-use project known then as the Streets of Buckhead.
The previous developer, its lenders and capital partners, who had started the project just before the economy spiraled into a deep recession, were on the hook for well over $300 million when construction stopped, according to people familiar with the Streets of Buckhead project.
OliverMcMillan and its capital partner paid about $25 million to acquire it.
On Sept. 18, the developer opened the doors to five upscale boutiques at Buckhead Atlanta, allowing a chance to reflect on the turnaround for both the project and the city. Streets of Buckhead was going to bring the feel of Rodeo Drive to Atlanta.
OliverMcMillan went even bigger, suggesting Buckhead Atlanta is an international destination.
“Today, Buckhead is clearly on the map in Europe,” CEO Dene Oliver said as the first stores opened Sept. 18.
The store openings included Atlanta’s first locations of Italian cashmere maker Brunello Cucinelli and fashion house Etro. It took nearly a decade to transform the once seedy former bar district in the Buckhead Village (an idea that belongs to Atlanta developer Ben Carter) into a walkable district with offices, apartments and shops.