$53 Million Worth of Condos Pre-Sold at ATLANTIC STATION® Community
November 5, 2004
Source: (Regional)
Hundreds of Atlantans have “gotten into their element,” buying $53 million worth of condos – sight unseen – at “element,” the newest condo community in the ATLANTIC STATION® redevelopment.
Condo pre-sales began only two weeks ago. More than 1,000 people have been on the waiting list for the 322 homes; some have waited an entire year. As of now, buyers have reserved 228 homes, which means 70% of the total are sold. Only a selected number of homes are available at pre-construction pricing for a limited time.
The latest figures were released at a launch celebration for the condos Thursday night.
Several hundred people attended the event, which featured virtual reality computer animation of what the finished community will look like. The party also included costumed entertainers who greeted the guests and later performed for them.
The new condo community is now under construction in the live/work/play redevelopment next to the Downtown Connector in Midtown Atlanta. The condos will be ready for their first residents next summer, and are expected to be fully complete in the summer of 2006.
“element” is being developed and constructed by Lane Company, which also responsible for the sold out Art Foundry Condos and the Park District Apartments in the ATLANTIC STATION® community. CondoLane is marketing and selling “element.”
The new five-story “element” community will have one-, two-, and three-bedroom homes, some of which will have unique lofts with ceilings of approximately 18 feet. It will also have parks, a pool, sun deck, business center, Internet café, conference room and fitness center. Residents also have the option of joining The Art of Wellness health club, which opened this week.
The new condos will be minutes from Midtown, Downtown and Buckhead; they are between the new IKEA store and the retail and entertainment district of the ATLANTIC STATION® community, which are both under construction. When complete, the retail and entertainment area will have a movie theatre, a grocery store, restaurants and world-class shopping. When fully completed, ATLANTIC STATION® will feature 12 million square feet of retail, office, residential and hotel space.
Plans were recently announced to build the seven-story “Millennium Gate” arch in Commons Park, across the street from “element.” It will be one of the largest pieces of public art in the metro area.
Potential buyers and brokers who are interested in pre-sale appointments can sign up online now at
www.elementatlanta.com.