Downtown Atlanta: Busting at the seams with new apartments

[caption id="attachment_225" align="aligncenter" width="450" caption="Alexan 360 Apartments in Downtown Atlanta"][/caption]

[caption id="attachment_221" align="aligncenter" width="450" caption="Pencil Factory Flats - New Apartments in Downtown Atlanta"][/caption]

[caption id="attachment_216" align="aligncenter" width="450" caption="Marquis Vista Apartments in Downtown Atlanta"][/caption]

The area in and around Downtown Atlanta has historically been under-supplied with new construction or high quality rental product, but that has changed recently with the delivery of hundreds of new apartments in 2009.  Three new luxury Downtown area apartment communities – Alexan 360, Pencil Factory Flats, and Marquis Vista – have added nearly 1,000 luxury units offering the latest in interior finish and community amenities that the discriminating renter demands, including (but not limited to):

• 9 foot ceilings;


• Balconies and Downtown, Midtown, and Buckhead views;


• Interior corridors;


• Elevators;


• Granite countertops;


• Designer lighting;


• Wood cabinetry; and


• A mix of hardwood, carpet, and ceramic tile floors.

With a glut of new apartments and vacancies rising across Atlanta, substantial incentives are being offering in an attempt attract prospective renters to Downtown and sign on the dotted line at their apartment community.

• The Alexan 360 is a 592-unit apartment community located east of the Freedom Parkway/ Downtown Connector junction. With resort style amenities and more conventional floor plans, Alexan 360 will suit the renter looking for a more updated, urban version of a standard garden-style complex.  Special rents from $785 per month for a studio to $1,230 per month for a two-bedroom are made sweeter with a first month free offer.  The security deposit and parking fee are waived with approved credit.


• The Pencil Factory Flats are 188 loft-style apartments situated on top of 30,000 square feet of retail space.  Located directly across from the Martin Luther King MARTA station, Pencil Factory is less than one mile from Georgia State University and less than 0.25 miles from the Downtown Connector.  This apartment community will suit the renter looking for a more industrial-inspired loft-style open floor plan with high ceilings and oversized windows. Rents start at $925 for a studio to $1,725 for a three bedroom floor plan.  Pencil Factory is currently offering one free month of rent and including washers and dryers with the units.


• The Marquis Vista is a 204 unit apartment community located at Piedmont and Ralph McGill Blvd, roughly 0.5 miles northeast of Georgia State University and less than 0.1 miles to the Downtown Connector. A slight twist to more conventional apartment interiors, carpets are sage green and trim is painted a neutral accent color, which adds a warmth to the units which have a tendency to feel sterile or institutional.  Floor plans are more open than Alexan 360, but more conventional then Pencil Factory.  Currently rents are discounted approximately $250 off of original pricing.  One bedroom units start at $945 and two bedrooms start at $1,275.  Washer and dryers are being included with rent and security deposits have been reduced to $87.50.

Alexan 360: New apartments in Downtown Atlanta that offer great amenities in an insulated environment

[gallery link="file"]

The area in and around Downtown Atlanta has historically been under-supplied with new construction or high quality rental product, but that has changed recently with the delivery of hundreds of new apartments in 2009.  Three new luxury Downtown area apartment communities – Alexan 360, Pencil Factory Flats, and Marquis Vista – have added nearly 1,000 luxury units offering the latest in interior finish and community amenities that the discriminating renter demands.

Alexan 360 (http://www.alexan360.com/) is the latest Atlanta area multi-family project for national real estate development powerhouse Trammel Crow.  Alexan 360 is located just south of Freedom Parkway and east of the Downtown Connector (Interstate 75 and 85). With 592 units total, this project is mammoth in scale.  Unique community amenities include two salt water pools, a state of the art fitness center with free fitness classes, carpeted interior corridors, a cyber lounge and theater room, and rooftop terrace and grilling area with skyline views of Downtown, Midtown, and Buckhead.  All units have balconies, designer light fixtures and faucets, nine foot ceilings, granite countertops and wood cabinets, and a mix of hardwood, carpet, and ceramic tile flooring.

Safety concerns are allayed with by providing only interior corridor access to apartments, several layers of controlled access from the street and parking garage, and numerous cameras providing constant surveillance of common areas and the parking garage. Residents can park on the same level as their apartment unit and avoid stairwells and elevators when walking to their unit.

Leasing commenced at the Alexan 360 in July and the community has only reached 14% occupancy so far.  In order to encourage a faster lease rate, Alexan is offering 15 – 20% reduced rents and other move-in specials.  Right now, a studio can be rented for as low as $785 per month, one bedrooms start at $870 per month, and two-bedrooms start at $1,230 per month.  To encourage immediate move-ins, $200 will cover all move-in fees and rent for the first month is free.  Security deposits and parking fees are waived with approved credit and there is no additional rent for a pet ($300 non-refundable pet fee is due at move-in, however).

Marquis Vista: Get a significant discount on apartments in Downtown Atlanta that are so new, construction is not yet complete

[gallery link="file"]

The area in and around Downtown Atlanta has historically been under-supplied with new construction or high quality rental product, but that has changed recently with the delivery of hundreds of new apartments in 2009.  Three new luxury Downtown area apartment communities – Alexan 360, Pencil Factory Flats, and Marquis Vista – have added nearly 1,000 luxury units offering the latest in interior finish and community amenities that the discriminating renter demands.

Marquis Vista (http://marquisvista.com/) is the latest Atlanta area multi-family project in the Downtown Area.  Marquis Vista is located very convenient to Georgia State University, at the intersection of Piedmont and Ralph McGill. With 204 units total this project features unique community amenities including a salt water pool, state of the art fitness center with free fitness classes, all carpet interior corridors, a cyber lounge and theater room, and rooftop clubhouse with skyline views of Downtown, Midtown, and Buckhead.

All units have functional balconies wih 8 foot sliding glass doors and designer light fixtures and faucets, nine foot ceilings, granite countertops and wood cabinets, and a mix of hardwood, carpet, and ceramic tile flooring.  A unique feature of this apartment versus some of the other new apartments nearby are painted accent trim, sage colored carpet in the bedroom, and hardwood floors througout the kitchen, dining, and living spaces.

Safety concerns are allayed with interior-only corridor access to apartments, several layers of controlled access from the street and parking garage, and numerous cameras providing constant surveillance of common areas and the parking garage. Residents can park on the same level as their apartment unit and avoid stairwells and elevators when walking to their unit.  Additionally, an electronic programmed key provides ease access to the apartment, parking facility, apartment buildings, and common use facilities with one device.

Leasing commenced at the Marquis Vista in December, and the complex has signed 17 leases to date. In order to encourage a faster lease rate, Marquis Vista has dropped per month rental rates nearly $300 per unit.  Marquis Vista is offering a $99 sign and lease special (includes administration and application fee). Washer and dryers are being included with rent and security deposits have been reduced to $87.50. Also, and only for the near immediate term, Marquis Vista is not charging a premium for higher units or units with skyline views. One bedroom units start at $945 and two bedrooms start at $1,275.