Pre-sales of the condos haven't even started but the developer already has received reservations on 20% of the planned 130 homes going up in an 18-story building at 565 Peachtree St. The projected price range of the one-bedroom and two-bedroom condos will be from $200,000 to $400,000. Urban Realty declines to disclose projected asking average rents for the retail and restaurant space, but Downtown brokers familiar with the submarket tell GlobeSt.com the range will probably be from $15 to $25 per sf. The Reynolds is expected to be completed by March 2006.
The Reynolds is going up on land that has been owned for generations by the Dobbs family. The late Talmage Dobbs was chairman of Life of Georgia.
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