December Real Estate Briefs
One hundred new rental townhomes are coming to the Edgewood community in southeast Atlanta. Columbia Townhomes at Edgewood will be one of Georgia’s first major projects funded by federal stimulus dollars through the Neighborhood Stabilization Program (NSP). The NSP awarded $2.7 million to the project to help redevelop communities that have suffered from foreclosures and abandonment. The multi-family development on Hardee Street will replace dilapidated housing sites with new, high-quality, LEED Silver Certified homes.
Gallery Residences, the 27-story Buckhead condominium, has passed the 70 percent sold mark. Coldwell Banker Previews handles sales and marketing for the community. Homes start in the $290s and FHA financing is available. www.GalleryBuckhead.com
Christie’s Great Estates, the world’s leading luxury real estate network, presented the Large-Market Affiliate-of-the-Year Award Second runner-up this week to Harry Norman, Realtors. The real estate firm – a member of the Christie’s Great Estates network of more than 130 international affiliates – was honored at the network’s 2010 Global Annual Conference for Owners and Senior Management in Toronto. www.harrynorman.com
Conrad Lyles Realtors has created a new web site focused exclusively on Buckhead. The new site includes neighborhood profiles and monthly market reports, interactive mapping featuring local schools, recreation, places of worship, restaurants, shopping and more. There are also Google Street View maps and useful articles on home-buying and selling. www.conradlyles.com.
Luxe List Home has announced that12 luxury apartment communities in Atlanta have been selected for inclusion in the 2010 Luxe List. The communities include The GoodWynn at Town, Gables Midtown, 05 Buckhead, Westchester at Peachtree Valley, Gables Sheridan, The Residences at Vinings Mountain, Gables Century Center, Gables 820 West, Tremont, Berkeley Heights, The Manor at Buckhead and Pencil Factory Flats & Shops. www.luxelisthome.com
One River Place has enjoyed banner sales since May, when its homes were re-released by ST Residential resulting in the sale of 38 homes for $11 million in sales. www.oneriverplaceatlanta.com
The Atlanta City Council and Atlanta Development Authority has signed a letter of intent to sell City Hall East on Ponce de Leon Avenue to Jamestown Properties. Built in the 1920s, the building served as a warehouse facility as well as a retail store for Sears and Roebuck for decades. The city of Atlanta purchased the building in the early 1990s and opened government offices there including police, fire-rescue and parks, recreation and cultural affairs offices. The agreement calls for the purchaser to pay $27 million for the property, with $15.5 million to be paid to the city at closing. Jamestown Properties plans to invest $150 million to develop the building into about 20 percent small and mid-box retail space, with 40 percent residential and 40 percent office/commercial space.
Atlanta Fine Homes Sotheby’s International Realty has opened its new and expanded offices at the Piazza at Paces in Buckhead. The offices are decorated with images of French Impressionist masterpieces from Sotheby’s and has a terrace overlooking the Buckhead and city skylines. Cutting the official grand opening ribbon are Atlanta Fine Homes Senior VP Nancy See, President David Boehmig, CEO Jenny Pruitt and Philip White, COO of Sotheby’s International Realty.
The Marketing Directors has announced a sellout of all 130 condominiums at The Reynolds at 565 Peachtree St. After an innovative marketing campaign, The Marketing Directors closed out the remaining 59 homes that were for sale. The Marketing Directors created the successful “Pick Your Price” marketing campaign allowing buyers to make the developer an offer on their terms.