Spaghetti Junction’s Empty Hotel Could Welcome Apartment Residents in 2028

For more than a decade, the cylindrical tower near Spaghetti Junction has stood empty. Cesar Contreras and Marcelo Aramendi want to turn the former Presidential Hotel into 282 apartments, with the first residents moving in during 2028.

The two owners are behind Aramar Investments, which plans to preserve the 14-story building’s concrete structure and rebuild its interior. Contreras, the firm’s managing member, told North Atlanta Star that work could begin in early 2027, followed by the first move-ins in mid-to-late 2028.

Before that can happen, the company needs the rest of its permits from DeKalb County. A land-disturbance permit announced September 28 allows work on the grounds, but approval for the tower renovation is still pending. Contreras said Aramar will wait for the full set of permits before starting.

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At 4001 Presidential Parkway, near the I-85 and I-285 interchange, Aramar plans a mix of studios, one- and two-bedroom apartments and four penthouses. A new four-story residential wing would accompany the renovated tower.

DeKalb County put the project’s cost at $53.3 million when it announced the site-work permit in September. Contreras declined to disclose financing arrangements or confirm that the estimate still holds, saying county requirements could affect the budget.

“Things can change according to County’s requirements,” he wrote.

Making apartments fit a round hotel

The hotel opened in 1973. Its interior has since been gutted, leaving the concrete frame that Aramar plans to reuse.

Contreras said Aramar spent the past two years examining development options and working out a floor plan that fits the tower’s cylindrical shape. The company refined the design and construction scope to preserve the structure while bringing costs within reach, he said.

Contreras credits the revised design and his team’s experience with building conversions for making this attempt viable.

“The difference is a disciplined, patient approach to the existing building,” he wrote.

The owners have also contributed their own construction expertise to help keep costs down, he said.

Peacock Architects and Peacock Partnership are handling the architecture and interior design. The tower would get new glass and exterior finishes, while the new residential wing would have balconies. Aramar also plans landscaped entrances, courtyards and 312 parking spaces on the roughly seven-acre property.

What future residents would find

Most of the homes would be studios or one-bedroom apartments. Contreras said the mix is 76 studios, 150 one-bedroom units, 52 two-bedroom units and four penthouses.

The apartments would be rented at market rates, without income or rent restrictions. Aramar has not set rental prices; Contreras said those will be determined closer to leasing.

Residents would share a clubhouse, coworking area with conference rooms, gym, yoga studio and lounge on the lower level. Outside, Aramar plans a pool, sun deck and fenced dog park. The building would also have a pet-washing area and package room.

Aramar is still working with DeKalb’s Planning and Sustainability department to secure the building permit. Until that approval comes through, Contreras said, the company will hold off even on the parking and access improvements covered by its existing site-work permit.

“We are confident this is the plan that will finally bring the building back to life,” he wrote.