Called Element, the community already has a signed-up reservation list of 300 buyers and expects to be sold out before it is completed in summer 2006, says Bill Donges, Lane's chief operating officer.
"It's in an exceptional in-town location and offers prices that are extremely reasonable, especially for Midtown," says Donges. "This project is at the center of a new kind of urban lifestyle."
Sales numbers so far bear him. For example, at Atlantic Station to date, 55 townhomes, built by locally based Beazer Homes USA, were sold before they were even completed. Of the 347 condo homes built by Lane in the first phase, only six remain unsold, Lane officials tell GlobeSt.com.
This is Lane's second condo undertaking at Atlantic Station. In October 2003, the company's Art Foundry project sold $10 million worth of product in three hours. The new condo site is between the new IKEA store and the retail and entertainment district at Atlantic Station which is planned for 12 million sf of retail, office, residential and hotel space.
Lane Investment & Development Corp. is developing Element. Lane Realty Construction is building the condos. CondoLane is marketing the units. All are subsidiaries of Lane Co. The Preston Partnership LLC designed the new community.
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