This Week in Atlanta Real Estate: Midtown high-rise condo project put on hold

by Rincey Abraham

atlanta-downtown-skyline

One of the most anticipated high-rise condo projects in Atlanta has been put on hold. Officials at JPX Works told Curbed Atlanta they are reevaluating how to proceed with the project, which is planned for the 2500 block of Peachtree Road. The developers originally planned to build the Emerson, a 21-story development with units starting at $1.8 million.

In other Atlanta real estate news:

  • Atlanta’s median rent is growing between 4 and 7 percent, significantly faster than the national rent average of 1 and 4 percent, according to HotPads. The median rent for a one-bedroom apartment in Atlanta rose 4.9 percent year over year to $1,440. However, there are 71.2 percent more new rental listings available than this time last year.
  • Broadtree Residential acquired Stone Ridge at Vinnings for $58.3 million. According to Multifamily Housing News, the 440-unit community is made up of 49 buildings over 30 acres is located at 3000 Cumberland Drive near the Cumberland Mall.
  • The Sutton in Buckhead has released floorplans and opened its sales center in late March. The building is expected to be 21 stories, and prices will range from $500,000 to $1.4 million, according to Curbed Atlanta. Some of the amenities include a saltwater pool with a sunbathing ledge and summertime towel service.