Keller Williams Intown Atlanta
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Ponce City Market Condominiums: Not Happening

Ponce City Market is without a doubt the most talked about development project in Atlanta.  The former Sears, Roebuck & Company building clocks in at a hulking 2,100,000 square feet, and its primetime Ponce location is arguably the center of the intown Atlanta universe.  It’s the city’s largest adaptive resuse project ever, and its Spring 2014  opening is probably the most anticipated “grand opening” that the city has seen since the Opening Ceremony at the 1996 Olympics*.

I get asked quite frequently about the residential portion of the project.  How many condos?  How many rentals?  How big will they be?  How much will they be?  When I toured the project this past September, I was told that it had not been  determined yet as to how the residential units would be apportioned, but that there would indeed be a mix of both condominiums and apartments.  Last night, I attended an event keynoted by the project developer Jamestown’s CEO Matthew Bronfman, where he told those in attendance that the property would in fact have no condominium units.  All rentals, along with the 300,000 square feet of restaurants and retail and 450,000 square feet of office previously announced.

So, there you have it.  No condominiums at Ponce City Market, at least as of right now.  It’s too bad.  Despite the fact that “condo” has become somewhat of a dirty word in this town, I really thought there was potential for the Ponce City Market condos to be quite special.  Potentially bad news if you were a buyer waiting to purchase in this development, but good news if you own a “competing” loft/condo in the general vicinity.

 

* Was that an overstatement?  If so, I’d love to hear your thoughts in the comments section.  Honestly, couldn’t think of any “opening” in Atlanta that’s occurred since 1996 that’s been this anticipated. 

Posted by Jon at 4:57 pm on January 10, 2013 : 5 comments

Labels : Condominiums, Current Events, Old Fourth Ward, Poncey Highland

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5 Responses to “Ponce City Market Condominiums: Not Happening”

  1. I’m surprised they told you. Must be too late to change their mind. I’m ambivalent. Perhaps some could turn condo in the future.

    — posted by Terry on January 10, 2013 at 7:36 pm [link]

  2. Wow, I moved to Atlanta last spring and after seeing all their publicity on residential units, pool, track…I was really waiting to live in a modern mixed use facility! Time to go ahead and look in Midtown! This was a great opportunity to attract the new younger professionals looking for work, live, play denser area…missed opportunity!

    — posted by Rick Clear on January 16, 2013 at 12:51 pm [link]

  3. The opening of the new BP on the corner of Clairmont and Briarcliff was a pretty big deal a couple weeks ago.

    — posted by Hotdog on January 16, 2013 at 2:07 pm [link]

  4. I think maybe Philips Arena and the Aquarium were bigger openings – but this is also huge!

    — posted by John on January 16, 2013 at 2:49 pm [link]

  5. I agree with Rick. This is incredibly dissappointing. This is the perfect place for the young professional urban dweller (like myself) that wants to buy/invest in property in Midtown. This building is E-freakin-normous! Dont understand why they can’t have both!

    — posted by Brad on January 22, 2013 at 2:58 pm [link]

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