The Intown real estate market is only getting hotter. Condominiums and townhomes are some of the most popular choices for homebuyers. Several new projects are in the planning and development stages, while current communities are selling out fast.
“Every day there’s a new announcement of companies relocating their businesses to Midtown, which continues to drive up the demand for condo living,” said Karen Rodriguez, Co-Founder, Vice President, CITY HAUS, Berkshire Hathaway HomeServices Georgia Properties.
“With a constant influx of millennials and empty nesters all desiring this type of living, we believe the condo market will continue to be a driving force in the overall Intown real estate market,” Rodriguez added.
The under construction No. 2 Opus Place (opusplaceatlanta.com) on 14th Street is one popular condominium community in Atlanta. The 53-story building of one-, two- and three-bedroom homes and penthouses are priced from $700,000 to $12 million.
“No. 2 Opus Place is designed by Perkins + Will, with interiors by the New York design firm Champalimaud,” said Rodriguez. “A few of the many features are open floorplans, floor to ceiling glass, Miele appliances, marble and quartz countertops, and Smart Home technology.”
Christa Huffstickler, President & CEO, Engel & Völkers Atlanta, has seen a strong surge of interest in the Intown condo market. “Developers are responding to this pent-up demand and we’re seeing exciting, high-end projects opening in hot areas like Midtown, West Midtown and South Buckhead,” she said.
Metro Atlanta is expected to add 55,700 jobs in 2017, Huffstickler reported, and since the city is a top contender for Amazon’s second headquarters, she predicted that the housing market will continue to flourish over at least the next several years.
“The luxury market especially is having a moment,” she said. “As Atlanta’s population steadily grows, we’re seeing demand for attached product with expansive floorplans, white glove amenities and great locations in the urban core.”
The prices are already rising in the high-end condo market, between five and six percent each year, and Huffstickler said she doesn’t expect it to slow down, even as developers work to catch up with demand. She pointed to three exciting condo projects that are attracting a lot of attention.
“The Atlantic in West Midtown offers stunning floorplans with floor-to-ceiling windows and breathtaking skyline views,” she said. Five-star amenities include a full-service concierge and valet parking.
“Residents also enjoy a state-of-the-art fitness club with a yoga studio and fitness on demand, along with a brand-new club room with billiards, televisions, wine storage, a catering kitchen and formal dining room,” Huffstickler continued. “The rooftop, resort-style pool and sundeck offer residents cabana towel service and a poolside concierge.”
The Atlantic Station location on 17th Street and a dedicated shuttle to the Arts Center MARTA station make accessibility a breeze. The Atlantic (ownatlantic.com) has 180 available homes, ranging from the $400,000s to $1.4 million.
Thirteen condominiums are still available at 1065 Midtown (1065midtown.com) in Atlanta, where one-bedroom condos start in the $500,000s, two bedrooms from $1 million and three bedrooms from $1.6 million. With no more than five homes per floor atop the luxe Loews Atlanta Hotel, residences at 1065 Midtown offer posh living and panoramic views, with 12-foot floor-to-ceiling glass, open spaces and deluxe finishes.
“The Peachtree Street location is just steps from Piedmont Park, the Midtown business district as well as top dining, cultural and entertainment spots,” Huffstickler said. “There’s a full suite of amenities, including a 24-hour concierge, fitness center and spa and housekeeping services.”
Other top features at 1065 Midtown include private, glass-walled terraces, pre-wiring for smart home automation and resident-only entrances and elevators, ensuring top-level security.
The Cosmopolitan (rockhavenga.com/cosmopolitan) is located in Lindbergh Park, one of the city’s most ambitious redevelopment projects with its own movie theater, pool, gym and clubhouse. According to Huffstickler, the unparalleled location bridges posh Buckhead and vibrant Midtown, and offers pedestrian access to MARTA and a variety of local shops, cafés, eateries and nightlife.
“The three-level townhomes boast modern Brownstone stylings including spacious, open floor plans with contemporary décor and details like subway-inspired tile and quartz countertops,” she said. Located on Lindbergh Drive in Atlanta, The Cosmopolitan currently has 33 available homes, starting in the $450,000s.
“We’re seeing a marked increase in buyer demand for condo product, both Intown and even north of the city,” said Anne Schwall, Vice President, Atlanta Fine Homes Sotheby’s International Realty, Developer Services Division. Buyers across all spectrums are gravitating towards maintenance-free, lock and leave homes that are thoughtfully-designed to live well, no matter the size, she said.
Schwall stated that with the boom in townhome development, particularly in the suburbs, as well as high-end rentals, buyers who are well-suited to and interested in condo living are an underserved market at the moment in Atlanta. “Sales at The Charles in Buckhead Village are a testament to this,” she said, “as we’ve sold over 50 percent since launching sales in December of 2016.”
With its premier location on Peachtree Road in Atlanta, the 57 condominium homes of The Charles (thecharlesbuckhead.com) offer sweeping Buckhead and Downtown views as well as walkability to Buckhead Village. There are still two- and three-bedroom residences and two remaining penthouses available, ranging from 2,460 to over 4,000 square feet. Prices start at $1.4 million and top out at $4 million.
“Each floor plan boasts expansive great rooms with folding glass NanaWall doors enabling a seamless transition between indoor and outdoor living,” Schwall added.
Features also include chef-caliber kitchens and a clubroom and well-equipped fitness and yoga center. The Charles’ 14,000-square foot, elevated amenity terrace with outdoor deck features an infinity pool, green space and manicured gardens.
Set on Peachtree Road in the heart of residential Buckhead, Emerson Buckhead (emersonbuckhead.com) offers 41 gracious residences ranging from 2,200 to over 8,000 square feet. Pricing that starts at $2.2 million.
Schwall said that JPX Works, founded by Jarel Portman and Bruce Fernald, is the visionary developer behind this landmark development. “The design of Emerson Buckhead encompasses two- and three- bedroom residences plus options to combine units, which several buyers have already opted to do,” she explained.
Each residence offers 270-degree city and canopy views that are enjoyed from expansive terraces averaging 450 square feet. Emerson’s five-star services and hotel-style amenities include a full-time valet and concierge, fitness center, yoga studio, heated lap pool, exquisite pool deck with cabanas and formal lawn.
Located at the nexus of GA 400 and I-285 in Dunwoody, High Street Atlanta (highstreetatlanta.com) is another project that’s drawing a lot of interest. The planned mixed-use development in the Central Perimeter area will feature condominiums and apartments as well as hotel, retail and office space.
Schwall said that the High Street Atlanta condo residences will range in size from approximately 2,000 square feet to 5,000 square feet.
“The apartments and condos will both have amenities, which include their own state-of-the-art health and fitness facilities, lounges and entertainment areas, exhibit kitchens and private dining rooms, wine storage and tasting area, and private theater and game rooms,” she said. “There are even pet spas for our four-legged friends.”
Some other amenities include sumptuously landscaped outdoor terraces with pools, cabanas, grilling areas, meditation gardens and lounge areas that rival resort hotels.
“With Atlanta’s long commute times and the rising cost of new homes in the city, townhomes are also in high demand,” said Tim Baldus of Berkshire Hathaway HomeServices. “Since Intown’s single family homes have become unaffordable for many buyers, townhomes are an especially good option.”
He noted that many young professionals like the affordability and the nearby locations to their jobs. “They work long hours and lead very busy lives,” Baldus said, “and they appreciate the low maintenance and affordable dues of a townhome community.”
Jillian Britt, Berkshire Hathaway HomeServices, added that downsizing empty nesters also love the low maintenance of townhomes and are drawn in by Intown’s easy access of shopping and restaurants.
Skyland Brookhaven (skylandbrookhaven.com), located on Skyland Drive in Brookhaven, is one townhome project that has really taken off, according to Baldus. “Skyland Brookhaven features large, open floorplans of 2,500 to 2,900 square feet, and the many amenities include a fitness facility and salt water pool,” he said.
The new Brookhaven City Park is located right beside the community, and greenspace and pocket parks are sprinkled throughout the neighborhood. Currently, there are 13 townhomes available in Skyland Brookhaven, which range from the $480,000s to the $600,000s.
White Oak at East Lake (venturehomes.com/white-oak-at-east-lake) in south Decatur is a good example of how eager Intown homebuyers are for quality townhomes. According to Juanetta Brown-Vasquez, Realtor and New Homes Sales Specialist, Berkshire Hathaway HomeServices Georgia, all the built homes in the community are already sold.
“All 24 townhomes went under contract between March and July of 2017,” said Brown-Vasquez. The new phase of six homes, scheduled to be completed in the first quarter of 2018, are expected to sell out just as quickly. There will be a total of 84 homes when the project is complete.
Brown-Vasquez said that most of the White Oak at East Lake homeowners are first time homebuyers. “This is a great place to live, and we see that by the great people this community has attracted,” she explained. “Our homeowners are a hip and highly diverse group of friendly, professional people that includes doctors, dentists and attorneys.”
Each three-story townhouse of White Oak at East Lake covers roughly 2,500 square feet and has three bedrooms, three and a half baths and full-sized closets, said Brown-Vasquez.
“The finished terrace level has a flex room that can be used as a game room, study, man cave – whatever the homeowner wants or needs,” she added. “Other customizable finishes are available to make each home fit the owner’s individual tastes and lifestyle.”
Features include a gated entry, full two-car garage, private patio and high-end touches like stainless steel appliances and tankless water heaters. Prices start in the $270,000s.