"They obviously have a desirable location between Piedmont andRoswell Roads," says Elliott Hollander, director of the nationalmultihousing group with Marcus & Millichap. "No one woulddispute there is an overabundance of condos in Atlanta, but thosethat have premiere locations are still selling, however at pricesthat are substantially deflated from what developers originallyexpected to receive. It is smart to have a for-lease program as acontingency plan in the event you're unable to get substantial presales," says the broker, who is not at all connected withTremont.

The units at Coro Realty's project start in the mid $200,000's,while the rental units rates start at $1,200 per month. Amenitiesinclude a fitness facility, club room, and outdoor swimming pooland grill area. Hollander notes that development companiesdelivering in this financial atmosphere should not expect to sellor lease up a project in a short period of time. Patti Pearlberg,Coro Realty's VP and asset manager, tells GlobeSt.com that theyhave prepared for and projected a two and a half year process forTremont. "It's a luxury project, so we expect it to be a slowprocess," she reveals.

Also keeping the current economic environment in mind, CoroRealty has made the retail and office space at the buildingavailable for lease, lease with an opportunity to buy or forpurchase. Tenant Flagstar Bank has already leased half of theoffice space, and will open a drive-through window within theunderground parking garage, says Pearlberg.