Atlanta Project Thread IV - Page 250

Martinman · #**4981** Posted **Jul 15, 2020, 10:20 PM**

Quote:

Originally Posted by smArTaLlone

Capital City Real Estate is planning another project at 272 Ponce De Leon Avenue.

https://capcityre.com/our-portfolio/roycroft-2/

I like it! Yet another project that hopes to include a grocery store. I wish them well.

Triptychtwo · #**4982** Posted **Jul 16, 2020, 11:45 AM**

Quote:

Originally Posted by smArTaLlone

https://www.bizjournals.com/atlanta/...source=twitter

All three buildings on this site have been demo’d for this project to move forward.

Street Advocate · #**4983** Posted **Jul 16, 2020, 11:59 AM**

Opus no longer listed on Midtown Alliance’s development map:
https://www.midtownatl.com/_files/do...071520---c.pdf

Street Advocate · #**4984** Posted **Jul 16, 2020, 12:00 PM**

Edit: deleted. Thought it linked to the Roycroft.

atlHawks · #**4985** Posted **Jul 16, 2020, 1:06 PM**

Quote:

Originally Posted by Street Advocate

Opus no longer listed on Midtown Alliance’s development map:
https://www.midtownatl.com/_files/do...071520---c.pdf

Is The Peach really under construction?

jjordan1023 · #**4986** Posted **Jul 16, 2020, 2:22 PM**

Quote:

Originally Posted by atlHawks

Is The Peach really under construction?

I drive past it practically every day, and I can confirm that there has been consistent renovation work taking place inside the building for the past few months.

smArTaLlone · #**4987** Posted **Jul 17, 2020, 3:06 AM**

Quote:

Originally Posted by Street Advocate

Opus no longer listed on Midtown Alliance’s development map:
https://www.midtownatl.com/_files/do...071520---c.pdf

Based on their permit status, Hub on Campus, 1018 West Peachtree and 250 14th street could all potentially break ground by the fall, provided they can obtain financing of course. The SCAD project is also relatively close to gaining approval. So Midtown could continue churning out a few more new towers.

GeorgiaPeanuts · #**4988** Posted **Jul 17, 2020, 1:46 PM**

Hub on Campus is starting demo next month. Which correlates with the fact that next month the other student building across the street is wrapping up construction so their construction offices in Hub on Campus properties won't be needed anymore

ATLmangum · #**4989** Posted **Jul 17, 2020, 2:32 PM**

Quote:

Originally Posted by GeorgiaPeanuts

Hub on Campus is starting demo next month. Which correlates with the fact that next month the other student building across the street is wrapping up construction so their construction offices in Hub on Campus properties won't be needed anymore

Super excited to see this kick off...will eventually hide UH.

smArTaLlone · #**4990** Posted **Jul 23, 2020, 1:06 PM**

https://www.bizjournals.com/atlanta/...ide-trail.html

Quote:

A development with 67 condominiums and townhomes is planned for the Reynoldstown neighborhood near the Atlanta BeltLine.

The project would be built on slightly more than 2 acres at 195 Chester Ave., one block west of the BeltLine’s Eastside Trail extension that opened last year close to Memorial Drive. Currently on the Chester Avenue property that was once owned by AT&T. To the south is busy Memorial Drive and to the north is Hulsey Yard, the intown rail yard owned by CXS Corp.

The developer for the project is listed on city paperwork as Atlanta’s Thrive Residential. Thrive, an urban infill builder with operations in Atlanta and Nashville, was purchased in February — just before the Covid-19 pandemic struck — by Pennsylvania-based homebuilding giant Toll Brothers Inc. for $53.3 million in cash.

Toll Brothers purchased 195 Chester Ave. from Thrive for nearly $4.65 million, according to Fulton County property records.

The property is zoned industrial and the developer is seeking to rezone it to multifamily residential. Neighborhood Planning Unit N is set to consider the project at its July 23 meeting before it goes to the city.

The rezoning application shows plans are to build 22 one-bedroom units at 480 square feet; 44 two-bedroom units at 980 square feet; and a single three-bedroom unit at 1,690 square feet. Total project size would be nearly 93,000 square feet.

Prices for the units would be priced between $275,000 to $295,000 for the one-bedroom units; $425,000 to $475,000 for the two-bedroom units; and then between $475,000 to $495,000 for the three-bedroom unit.

Atlriser · #**4991** Posted **Jul 23, 2020, 2:39 PM**

Those prices are ridiculous for the 1 bedroom.

montydawg · #**4992** Posted **Jul 23, 2020, 3:44 PM**

Quote:

Originally Posted by Atlriser

Those prices are ridiculous for the 1 bedroom.

My 900 sq ft 2 bedroom condo near the skatepark right off the beltline is worth under 300K, and has a pool, parking garage, and fitness center. The single 3 bedroom here is large enough to be a townhome, but the others are too small- they must all be condos. I'm sure these all have 'luxury' finishes and perhaps a single car garage, but still double the price for a less desirable location- that shows you how crazy the market has gotten these days. My parents have a 3000 sq ft SFH just south of this worth around $700k. I think people are paying a premium for 'brand new'.

Street Advocate · #**4993** Posted **Jul 23, 2020, 3:54 PM**

Prices have been wild all over Atlanta for some time now. To note though that $295k price for the 1Br is less than the condos that sold just south of this on Memorial.

atlHawks · #**4994** Posted **Jul 23, 2020, 4:12 PM**

Quote:

Originally Posted by Atlriser

Those prices are ridiculous for the 1 bedroom.

For that location. Not really.

Atlriser · #**4995** Posted **Jul 23, 2020, 7:32 PM**

Yes, that’s very high. That is $572 to $615 per Sft for the 1 bedroom units. Then you would have monthly association fees on top for a condo that is only the size of my master bedroom. Those prices are very extravagant for the area and size. The 3 bedroom seems priced properly at $281/Sft. If they sale them great, but a 480 Sft condo is on the small size for the Atlanta market and paying an extremely high price for it.

Opus 2 was offering 1 bedroom condos in the $625 to $650/Sft range on the lower floors so you are saying these are comparable to those. Granted there is no Opus but that tells you the price range they are listing these very small units.

If you are paying over $425/sf you are being ripped off period. You can purchase brand new single family homes and condos all over the city for less than that price point with the exception of some of the Buckhead zip codes and sections of 30309. Most are under $300/Sft.