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.