West Midtown condo development selling quickly
The condo market may be heating up again as Ansley Developer Services has pre-sold more than 100 condos in its West Midtown Seven88 project, which still does not have a delivery date.
Seven88 is expected to have 279 residences on 20 floors with sizes ranging from 699 to more than 2,800 square feet, with a choice of 22 floor plans. Prices start in the high $300,000s and max out at $1.75 million for penthouses.
Planned building amenities include a saltwater swimming pool, a 9,000-square-foot deck, and, on the ground level, retail, restaurants and entertainment space. The monthly HOA dues are $782.
Fayetteville mixed-use development planned
A new 7-acre mixed-use development, Meridian on the Square, is being proposed in downtown Fayetteville that would include 223 class-A multifamily residential units and 18,500 square feet of commercial retail and office.
The development is slated to be built on 6.8 acres at the corner of North Glynn Street and West Lanier Avenue. Meridian on the Square Investors LLC of Dunwoody is the developer.
The residential buildings will be located along West Lanier Avenue, North Glynn Street, and Lafayette Avenue, with the retail uses would be concentrated near the corner of West Lanier Avenue and North Glynn Street.
Apartment development hits a home run
An affiliate of Montgomery, AL-based B&M Management sold an apartment development to Centennial Holding Co., the real estate company led by former Augusta National Golf Club chairman Billy Payne for almost $43 million.
Centennial bought a 248-unit project called Highlands at Gwinnett Stadium and renamed the apartments Century at the Ballpark. The development is near Coolray Field, which is the ballpark for the Gwinnet Stripers, the Braves’ Triple-A affiliate. The company paid a little over $172,000 per unit for the project.
Centennial recently formed a new fund to raise $300 million, as it expands an apartment portfolio that already stretches across the Sunbelt from Atlanta to Austin. It has also invested in multifamily properties in Florida, North Carolina, Tennessee and Washington D.C.
Centennial was founded by Payne, who is best known as the CEO of the Atlanta Committee for the Olympic Games as well as serving as chairman of Augusta National Golf Club from 2006 to 2017.