Ponce City Market Condominiums: Not Happening

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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. 

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Jon

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Jon Effron is widely regarded as one of the leading Realtors in Atlanta, working with both buyers and sellers throughout the metro area to maximize their real estate investments. In 2014, Jon was the #1 individual agent at Keller Williams Intown, one of the largest brokerages in Intown Atlanta. Prior to becoming a Realtor, Jon was the Vice President of Development at Tujay Group, an Atlanta real estate development firm. His career pre-real estate included stints at ABCNews.com, eGroups (now Yahoo! Groups) and Elite Traveler magazine, where he served as the Vice President of Marketing.