The unique neighborhoods surrounding LUMEN evoke feelings of community and pride that are a gem within the Atlanta area. LUMEN will be of the highest quality and the redevelopment of this underutilized property into a mixed-use project featuring luxury rental apartment units, retail, and restaurants will serve as an amenity to the community and a catalyst for future development in the area. In late 2021, the Developer acquired the properties after completing the rezoning in DeKalb County to allow for LUMEN as described here.
Southeast of LUMEN at North Druid Hills Road, the ongoing expansion of the $2.5B+ healthcare facilities at the Emory Executive Park and CHOA campuses have been a major factor behind increasing housing demand and commercial activity in the area.įor over 50 years, the properties on the northwest side of the Clairmont Road and Briarcliff Road intersection that comprise LUMEN have been occupied by various auto related businesses in multiple single-story buildings with multiple full access points. Fine restaurants, shopping and entertainment are just minutes away. This apartment community also offers amenities such as Resort Style Pool, 24/7 Fitness Center and New Matrix Cardio & Weight Training Equipment and is located on.
With the highest elevation in Fairfax County, the views from Lumen are simply breathtaking. Apartments at Lumen are equipped with Studio, One-, Two-, & Three-Bedroom Homes, Brand New Construction and Full Size Washer/Dryer and have rental rates ranging from 1,515 to 3,305. This main thoroughfare serves as a DeKalb County gateway to Emory University, Decatur, PDK Airport, and the wonderful surrounding neighborhoods. Luxury Apartments in Tysons, VA Brand new high-end studio, one, two and three bedroom homes in the most desired area of Tysons Corner, Virginia. LUMEN is located at the I-85 northbound exit at Clairmont Road. Importantly, LUMEN will only have one right turn only access point on Clairmont Road and one full access point on Briarcliff Road. LUMEN will provide a fantastic streetscape experience along Clairmont and Briarcliff Roads with wide sidewalks, street trees, landscaping, and lighting. LUMEN will feature 264 luxury rental apartment units, 5,400 square feet of ground level retail and restaurant space fronting Briarcliff Road, and a 3,900 SF freestanding restaurant situated at this gateway intersection. The building includes a landscaped deck and heated pool, a rooftop lounge, fitness facilities and shared workspaces for tenants.Atlanta-based real estate developers, Stein Investment Group and Atlantic Residential (Collectively, the “Developer”), are excited to announce the development of LUMEN Briarcliff, a mixed-use project located at 3070 Briarcliff Road in unincorporated DeKalb County (“LUMEN”). Rents start around $1,500 a month and top out at more than $7,000. The Lumen houses one-, two- and three-bedroom apartments, ranging from 570 to almost 2,000 square feet. … What's great is that we don't have any pressure. "If the stars align and multifamily is still strong and there's an interested buyer, we would entertain it," Falco said just after the first residents moved in. Earlier this month, a Playhouse Square spokeswoman confirmed that the nonprofit had retained a brokerage firm to establish a value for the building but had not made a decision about the path forward. In October 2020, former Playhouse Square CEO Art Falco, who now serves as a special adviser to the organization, told Crain's that the nonprofit did not necessarily view the Lumen as a long-term hold. "With its spectacular execution, the property transcends the Cleveland marketplace." "The Lumen is one of the finest multi-housing communities I have seen in my career," said Matthew Lawton, a JLL Capital Markets executive managing director, in a news release. Playhouse Square, which treats its real estate portfolio as a working endowment, developed the $135 million project through a partnership with Hines, a global real estate developer and manager. The 318-unit Lumen is the newest trophy downtown, a 35-story theater district building that is 93% leased. Investors are flush with cash and searching for returns in a fiercely competitive landscape. The listing comes at a hot moment in the apartment market, on the heels of a record year for commercial real estate sales. The anticipated pricing is $500,000 a unit - or $159 million. 16, that it is marketing the downtown Cleveland high-rise for sale. JLL Capital Markets announced late Wednesday, Feb. Playhouse Square Foundation is testing the market for the Lumen, the glassy Euclid Avenue apartment tower that the nonprofit performing-arts organization opened in late 2020.