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ATLANTA-In a bleak economic environment, locally based Lane Co. is finding demand for quality Midtown shelter products is strong as it starts construction on The Residences at Atlantic Station, a planned, $73 million, 578-unit apartment and condominium community in the $2 billion Atlantic Station mixed-use development.

Even before the first shovels were turned, the four-story buildings being constructed in The Commons area of Atlantic Station on 17th Street drew a crowd with open check books.

“More than 250 people have signed up to be on the waiting list for these apartments and condominium homes,” Bill Donges, Lane’s chief operating officer, says in a prepared statement.

The 12-month construction track includes 231 apartments in the mixed-income Park District; 278 luxury apartments in the Art District; and 69 condos in the Art Foundry section of Atlantic Station.

Apartment rents in the Art and Park Districts will range from $725 to $2,400 per month for about 650 sf to 1,610 sf of living area. Art Foundry condos are priced from $140,000 to $300,000 for 700 sf to 1,535 sf of living area.

“This is one of Atlanta’s largest development projects and we plan to exceed expectations for our investors and residents and the city, as a whole,” says Marc Pollack, president of Lane Investment and Development Corp., formerly Realty Development Corp. “The Residences at Atlantic Station will be a true community.”

Lane plans to build a total 1,600 apartments and condominiums in The Commons, The District and The Village areas of Atlantic Station. Student housing will be part of future development phase.

The Residences at Atlantic Station, with its own parking decks, is being built near the new 17th Street Bridge, now under construction. The bridge will connect Atlantic Station to the eastern side of Midtown. Lane Co. and Atlanta-based Cornerstone Gardens built the Grand Ellipse Park in The Commons which features a 200-foot pedestrian bridge.

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