Home & Real Estate Urban Lifestyle

Amenities, walkability driving condo & townhome sales

By Kathy Dean

In September, INtown published a big cover story called “On The Rise” about the resurgence of the condo and townhome market. In less than a month, we’ve seen more evidence of the trend with the announcement of another condo tower in Midtown, new townhomes in the Old Fourth Ward and the sell out of a new townhome community in VirginiaHighland.

Located at the intersection of Crescent Avenue and 13th Street, Trillist has proposed 43-story SLS Atlanta Hotel & Residences, which would contain 214 hotel rooms and 66 condo units. In Old Fourth Ward, the Studioplex on Auburn Avenue will expand with 19 new townhomes over retail shops.

Meanwhile, Dorsey Alston and Walnut Meadows Real Estate Development have announced that all 40 of the townhomes in its Virginia Park development in VirginiaHighland have been sold. The average home price: $532,000.

“There’s no question that the Intown condo market is hot,” said Jennifer Kjellgren, founder/broker of Intown Expert Realty. She shared some quick stats for the past six months: Downtown has seen more than 100 condo/townhome sales, and there’s now less than a three-month inventory. Over 850 condos/townhomes have sold in Buckhead, also leaving about a three-month inventory. In Midtown, there have been roughly 550 condo sales, with less than a one-month supply remaining. Even smaller buildings in Morningside, Virginia-Highlands, Old Fourth Ward and Inman Park have seen the same activity. Well over 250 condos have sold in those areas, leaving less than a month’s worth of inventory.

With more and more businesses moving into the Midtown and Buckhead areas, condos allow residents the convenience of walking or using public transit to get to work in 10 minutes or less. Car services, like Zip Car and Uber, let city dwellers ditch their autos and still live and work comfortably in Atlanta. Since developers are building retail space into their projects, residents have neighborhood stores, restaurants, coffee shops and boutiques that create small, selfsustaining communities within a few blocks.

“I’d say the number one amenity drawing homebuyers to Atlanta condos and townhomes is the walkability factor,” said Bill Golden, a Realtor at RE/MAX Metro Atlanta Cityside. “Location is more important than ever as traffic continues to grow. Most of the condos and some townhomes are in more walkable, urban environments than single-family homes. Many of my clients get very excited at the idea of being able to walk to restaurants, bars,

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