After a slow six years, the condo market in Atlanta appears to be making a comeback. A new, 23-unit condo building, which was originally planned to be an apartment building, is set to be constructed on Peachtree and 7th streets in Midtown. This will be the first condo construction since the housing market crashed in 2007.
This announcement follows an upturn in the condo market in Atlanta. Residents in Midtown are seeing a profit when selling their condos, and the inventory of condos in the region are disappearing.
The condos, aptly named Seventh, will be a 9-story, mid rise building in the heart of Midtown. Units will start in the mid $600,000s, with two penthouse units starting at $1 million, and street-level retail opportunity.
While this condo structure is an exciting new venture for Midtown, Eugene James, Atlanta regional director of Metrostudy, does not anticipate an influx of condo construction in Atlanta. James told the Atlanta Journal- Constitution that he believes that this is a viable project, and that when Seventh starts to sell units in two years, the condo market will be in much better shape, a “great time.”