Atlanta’s Presidential Hotel could become 282 apartments in $53.3m plan

A 14-story building that once used to be the Presidential Hotel before falling into disrepair is all set to have a change of fate once again. For years, the cylindrical tower was seen as an eyesore by the travellers in one of the region's busiest interstate intersections.

Project estimates show that more than 426,700 vehicles pass the prominent site each day. But soon, this tower may be the home of many, according to a report by The Atlanta Journal-Constitution.On Monday, DeKalb County announced it issued a key permit allowing multifamily firm Aramar Investments to convert the tower into 282 market-rate apartments in a $53.3 million project. It is the latest attempt to renew the life of one of metro Atlanta's most visible vacant buildings.

The county issued a Land Disturbance Permit for the site located at 4001 Presidential Parkway near the I-85 and I-285 interchange. The existing reinforced-concrete structure has already been gutted in preparation for the complete renovation.The reuse project covers approximately seven acres and 150,000 square feet of building space. Plans of construction include 76 studio units, 150 one-bedroom units, 52 two-bedroom units and four penthouses.

The two-bedroom units may be slated for around $1,800 a month.Built in 1973 as the Presidential Hotel, the landmark closed in 1987 after operating for 14 years. County officials noted that the construction of I-285 created access problems for the hotel, causing it to fall into disrepair. It later reopened as the Ramada Perimeter Northeast and operated a ground-floor nightclub before subsequent owners pursued mixed office and residential uses.

For more than a decade, the tower has remained unoccupied."This permit represents meaningful progress toward transforming one of DeKalb County’s most visible vacant properties into a productive residential community," said DeKalb County CEO Lorraine Cochran-Johnson, according to FOX5. "For a developer, it may just be an investment, but for DeKalb County and for our residents, it is an eyesore."District 1 Commissioner Robert Patrick noted that he has worked over the past six years on solutions for the property, saying, "What was once a significant eyesore at the gateway to DeKalb County along I-85 and I-285 north is ready for a new chapter."

Jacob Vallo, DeKalb County chief development officer, added that redeveloping the property turns a longstanding challenge into a productive asset and demonstrates market confidence in the county.Nearby residents also expressed support for giving the vacant tower a new life. "I think it's great. I mean, I'd hate to see that building go to waste," said resident Matt Hunter.Another resident, Landon Hollingshead, echoed that optimism about the building's potential.

"It's a beautiful building, and I feel like it's gonna be a really good improvement for the area," Hollingshead said. "I think it's going to open up a lot of opportunities, move a lot of good people in."Officials have not yet confirmed the exact timeline of the construction completion or when the new residences will be open for leasing. However, DeKalb County leaders hope the project construction will be completed by the end of next year.