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This Week in Atlanta Real Estate: New developments are coming to the Beltline

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Residents around Atlanta already know what a great city it is, but it is also a great spot for a summer vacation, according to Wallet Hub. The Atlanta-Sandy Springs-Roswell MSA was named one of the best destinations for a vacation this summer. The website looked at affordable U.S. destinations that are also easy to reach, with a variety of local attractions and good weather.

In other Atlanta real estate news:

  • Ashton Woods opened three new models in its Aria community in Sandy Springs. The Chopin model is part of the Composer Series of lofts, while the Nabucco and Sonata models are part of the Opera series. Once buyers have chosen a model, they can work with the design team to personalize the home.
  • A 431-unit midrise apartment complex in Buckhead was recently purchased for $72.5 million. According to the Atlanta Business Journal, the complex, 32Hundred Lenox, was purchased by a joint venture between Wilkinson Corp. of Yakima, Wash. and Torchlight Investors of New York City. The 14-acre complex includes 431 apartments and has undergone $6 million in partial renovations since 2015.
  • Designs for the Forsyth County mixed-use mini city Halcyon were released this past week. Designer Monte Hewett Homes will be delivering 62 residences, half of which will be townhomes and the other half single-family houses. See the designs over at Curbed Atlanta.
  • After five years, the Beltline is getting its first all-condo building. The new development, currently being called Airline, has been proposed by Capital City Real Estate and would provide 29 residences to the Eastside Trail in the Old Fourth Ward. The residences are expected to range from 640 to 1,400 square feet, and cost anywhere from $300,000 to more than $600,000.
  • Another new development is coming to the Beltline, but this one will be on the Southside Trail. The Providence Group announced a new townhome community named Pratt Stacks. It will be a 16-building community with four-story units starting at $390,000. According to Curbed Atlanta, the units will be “open concept, flexible spaces that easily adapt to a variety of styles accented by expertly curated designer finishes to seamlessly blend sought-after features and thoughtful touches.”
  • With all of the new developments popping up around the city, rent concessions are becoming more popular to entice residents to sign. Real Page looked at cities across the country to see the concessions in top development markets, and Atlanta came in at No. 1 with 9.1 percent in March – which amounts to more than one month of free rent.

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