CHAMBLEE, GA-The Lofts@5300, a 242-unit condominium community, has reached the estimated $10-million sales mark three months before it is tentatively scheduled to open, according to company officials. The $26-million project contains 5,306 sf of retail and is being developed seven miles northeast of Downtown Atlanta by Auburn, AL-based Charter Cos.
Charter reports 30%, or about 73 condos, have been sold for an average $150,000. When GlobeSt.com profiled the project Aug. 26, 2005, 51 units had been sold. The one-, two- and three-bedroom homes are priced from the low $100,000s to the mid $200,000s, according to Diana Rowe, vice president, Charter Real Estate Services, a division of the Charter Cos. The homes have 700 sf to 1,400 sf of living area.
Rowe attributes the project's fast sales pace to its location in the center of Chamblee's revitalized live-walk-play mid-city district. The Lofts@5300 is across the street from the Chamblee Marta station and within walking distance to Antique Row and the area's retail and restaurant corridor. Morris & Raper Realtors of Atlanta is marketing the project.
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