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August/September 2009

High-Rise Condo Living Soars as Atlanta’s Skyline Climbs
by Meredith Pruden

 
A mixed-use community, 12th & Midtown will feature a hotel, condominiums, retail space and office space - Image Courtesy of Rule Joy Trammell + Rubio, Architects

Atlanta’s sprawling skyline vista is in a state of flux. Once sprinkled with towering hotels and Class A office space from Underground Atlanta to Phipps Plaza, the Peachtree Road corridor now is home to a steadily climbing number of residential high-rise condominiums, and the trend toward living up is actually spreading out to other neighborhoods, as well. From Castleberry Hill and Centennial Park to West End, Atlanta is experiencing astronomical growth patterns, and much of the development is aimed skyward.

Those relocating to Atlanta and seeking the convenient high-rise lifestyle certainly won’t be disappointed. While suburban living was once coveted, today’s newcomers to Atlanta envision city life like that found in Chicago, Boston or New York. These newcomers, along with baby boomers looking to downsize, have led to an influx of high-rises to match the demands for in-city living.

“People want to be closer to where the action is—sporting events, concerts, restaurants. It’s about quality of life, particularly as Atlanta’s sprawl created lengthier commutes. If you take away the two-hours a day spent in the car, what would you do with it? Work out, spend time with your family, be more productive,” says Brian Leary, vice president of design and development for Atlantic Station.

Now, efforts to revitalize the downtown area are strong, and some longtime suburbanites are making their way back to the city. “The trend now is for people to move back into town. Some people are tired of traffic and lawn maintenance,” says Haitham Haddad of PFVS Architects, an Atlanta based architecture firm. “It’s normal in most cities to have life 24-hours a day. If people live above business, there’s life constantly, so rather than a stagnant swamp, the city is a running stream.”

 
  The Mansion on Peachtree’s indoor climate-controlled lap pool.
In addition to Atlanta newcomers and empty nesters relocating from the suburbs, the 25-to-34-year-old market segment flocks to the lifestyle high-rise condo living affords, according to The Condo Store President Brad Horner. “People want to come home, leave the car in the garage and walk,” Horner says. “The next evolution of condominium development in Atlanta is the mixed-use community.” Mixed-use developments offering offices, condos, retail and entertainment are growing

more popular, even in suburban neighborhoods, because they bring back a sense of community and provide walkable neighborhoods within steps of one’s front door. A prime example is Sovereign, located in Buckhead, which is a 50-story mixed-use tower. From floors 28 up, 82 luxury residences ranging from 1,913 to 5,350 square feet (16,000 if you seek penthouse living) feature traditional interiors with panoramic views. More than onehalf million square feet is dedicated to Class A office and retail space, including a restaurant by Buckhead Life, one of the city’s leading restaurant groups.

The 12th & Midtown development is another example of mixed-use, high-rise living. Dubbed the Midtown Mile, 12th & Midtown will feature 200,000 square feet of retail space, 1.2 million square feet of office space, a 414-room hotel, and a 35-story residential tower known as 1010 Midtown upon completion.

Although high-rise living may offer residents a quality of life lacking commutes and weekend lawn work, the serenity of a person’s immediate surroundings shouldn’t be overlooked. “Everyone wants amenities in the building in which they’re buying,” Horner says.

 
Viewpoint’s amenity deck features a pool, and outdoor grilling and dining areas.
Jason Winburn, CPA, vice president of residential sales and marketing for The Daniel Corporation, the developer of 12th & Midtown, agrees that buyers are choosing high-rise living because of location and amenities. “Although the economy is slower than expected, 1010 Midtown continues to see strong demand and traffic every week,” Winburn says.

There’s no doubt that sweeping city views are attractive to buyers—and they’re plentiful in the current market—but the hard sell in today’s high-rise condo market is the abundance of services and amenities available to residents. Most developments offer 24-hour concierge service, valet parking, pools, fitness centers and meeting space, but some innovative developers have included even more extravagant features. For example, Sovereign’s residents have access to a two-year membership to the exclusive Buckhead Club, Wi-Fi in common areas, an extensive art collection displayed throughout common areas, and a 24- hour private access road to Peachtree Road, Piedmont Road and the Lenox Road/Buckhead Loop, which means residents avoid inner-city congestion.

g According to Haddad, many of his company’s designs have been developed with these words, spoken by French poet and philosopher Paul Valéry, in mind: “There are buildings that are mute, buildings that speak and buildings that sing.” It seems that these words could have inspired many of Atlanta’s high-rise condo developments. The city’s high-rise condo market indeed is teeming with buildings that sing the song of the South’s capital city.





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