Castleberry Hill boutique condo building breaks ground, pauses sales

The stop of development could be months away, but the enhancement staff behind a Castleberry Hill boutique condominium enterprise can feeling a promote-out coming in the near future.

The Lyric Lofts task has been these types of a magnet for provides, in simple fact, it’s been pulled from the sector. Which may well audio counterintuitive—or not.  

Foundational work on a previously vacant large amount at 346 Peters Avenue, in close proximity to Castleberry’s junction with Adair Park and Pittsburgh, has begun for the 27-condo task becoming created by Cash Style and design Team.

Seven of those people lofts, which include penthouses, are beneath deal correct now, according to listing agent Angela Beck of Atlanta Great Houses Sotheby’s Intercontinental Realty.

Builders have resolved to ink no more contracts right until April “to enable for changes to industry/source chain ailments,” and will then release up-to-date pricing, Beck wrote by way of e-mail.

Mansour Maghari of Capital Acres Properties, an affiliate of Cash Structure Group, mentioned prices are going to see “a main modify owing to charges of labor and resources.” 

Planned seem of the 346 Peters Road exterior at night time.&#13
Courtesy of Lyric Lofts designs, Gamble + Gamble Architects

Delivers coming in at previous value points—ranging from $235,500 for just one-bedrooms with 746 square ft, up to a two-level, a few-bedroom penthouse priced at $624,950 for 1,842 sq. feet—are no more time becoming regarded, Beck said.

Described by entrepreneurs as “industrial lofts reimagined,” the Gamble + Gamble Architects-intended brick setting up will stand four tales with road retail at the base. Downtown sights from a communal roof terrace are explained as “sweeping.”

Beck reported 1 garage parking house is offered per device, with about 50 percent of these owning EV-charging capabilities. HOA dues will be 30 cents for each square foot.  

Open up, modern type in a living home. Every single rental has four-inch, recessed LED lighting during.&#13
Courtesy of Lyric Lofts models, Gamble + Gamble Architects

Across Atlanta, new boutique apartment builds have been exceptional, if not nonexistent, in publish-Wonderful Recession a long time. Extra a short while ago, projects with constrained quantities of for-sale models have been sprouting from Ormewood ParkKirkwood, and Decatur to Blandtown, and elsewhere in Castleberry Hill.

Castleberry Hill’s residential serious estate appears to be heating up in general of 22 condos and townhomes on the market right now in the community, only 3 never have pending contracts.

Lyric Lofts was initially expected to be concluded in 2021, but in accordance to Beck, shipping has been delayed right until slide this 12 months. (Maghari said the constructing will commence to go vertical with framing in coming weeks.) Coincidentally or not, building is lastly commencing to ramp up at CIM Group’s Centennial Yards megaproject a handful of blocks away.

“Centennial Yards will do for Castleberry Hill what Hudson Yards in NY did for the Meatpacking District,” Beck wrote.

Head to the gallery for far more Castleberry context—and a glimpse at what this infill undertaking is bringing to Peters Road.

• Castleberry Hill news, discussion (Urbanize Atlanta) 

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