Page 48

High Demand Continued from page 46

began in 2014 with over $65 million in sales in just two and half years. “We built out eight in 2014, sold all of those, built out the next ten in 2015, and then began building out the final homes at the end of last year,” she said. “These were selling so well that the developer took back four floors that were earmarked for the hotel and built out eight more homes in 2016.” Rodriguez added that the name of the newly introduced product at Mandarin Oriental, Maisonettes, is a French term that means ‘a dwelling within a dwelling.’ The multi-level townhomes feature 4 to 6 car garages, large walled-in front yards and large back decks with outdoor kitchens. The $2.3 to $2.8 million residences are currently under construction with delivery at the end of the year. “We have only released the first two to the market, one of which has already gone under contract.” The Brownstones at Central Park, 410 Felton Drive in the Old Fourth Ward, are also selling fast. The homes are priced in the high $500s to high $600s, and Costner said that buyers respond positively to the affordable price. “They also comment on the quality of the construction and our upscale finishes, like the high-end mouldings and marble master bath.” The spacious floorplans feature 3 bedrooms, 3 ½ baths, 2-car garages and oversized kitchens, as well as master suites with indoor and outdoor sitting areas. “We had 38 townhomes and they’ve already sold out. Now we’re selling Phase 2,” Costner said.

48 May 2017 |

The Brownstones at Central Park

MODA Reynoldstown

Townhome communities are continuously popping up in the Intown markets, Schwall said. She pointed to a few condo projects that are gaining momentum. The Charles Buckhead, developed by Robin Loudermilk, is located in Buckhead Village and offers 57 homes ranging from $1.3 to $4 million. Sales have been brisk since opening in December, and over $32 million is presold, making it possible for construction to start this month. “Another condo project that continues to bring a new level of architectural appeal to the market is Emerson in Buckhead, with 41 units starting at $2.2 million,” Schwall said. “For the Midtown market, a project that’s getting a lot of buzz is Opus Place, 53 stories high with 231 condo units. It will set the bar for Midtown pricing, starting at over $1,000 a square foot.” A one-bedroom Opus Place unit starts in the $700s. “Many buyers of townhomes appreciate the ability to have all the features of a singlefamily home within walkable communities and without the burden of exterior maintenance,” Bonura said. “A couple of great examples are Highland Park, between Old Fourth Ward and Inman Park, and The Enclave On Collier within the Collier Hills neighborhood. Both communities offer spacious and well-appointed homes in the heart of vibrant neighborhoods.” Tufts mentioned several other projects that are generating excitement. MODA Reynoldstown offers three- and four-level townhomes and highstyle flats constructed from healthy building materials. Amenities include a saltwater swimming pool, dog park and urban vegetable garden. The MODA concept is being expanded to a Decatur location, MODA on Church. Broadview Place Manor in Buckhead will feature three- and four-story energy-efficient homes with open floor plans. At l a n t a I N t o w n Pa p e r. c o m

May 2017, Atlanta INtown  

New restaurants, a resurgence in the condo and townhome market, spring arts and culture events, and a pictorial on the Atlanta BeltLine expa...

May 2017, Atlanta INtown  

New restaurants, a resurgence in the condo and townhome market, spring arts and culture events, and a pictorial on the Atlanta BeltLine expa...