ATLANTA-Post Properties Inc. and Novare Group Holdings LLC, two locally based multifamily developers, unveiled plans Tuesday for a new Ritz-Carlton Residences project that will offer 129 ultra-luxury condominiums in the prestigious Buckhead submarket. The residences, which will include seven penthouses, are priced from the $600,000 range to more than $2 million.

The Ritz-Carlton Residences will be part of 3630 Peachtree Road, a 34-story mixed-use project announced last summer that will also include 425,000 sf of class A office space and 17,000 sf of ground-level retail. The upscale condos, with one to three bedrooms each, will be offered in the upper 17 floors of the tower, which will cost at least $300 million to complete.

David Stockert, president and CEO of Post Properties, says he is confident that the Ritz-Carlton Residences will sell well, in spite of doldrums in Atlanta’s overall condo market. He says its Buckhead location is desirable on both local and national levels, the homes will be top quality, and they will be combined with Ritz-Carlton’s name, reputation and lifestyle.

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