If our calculations are correct, more than 1,060 condo-quality apartments will be delivered in 2014 around the fringes of Historic Fourth Ward Park. That's in addition to hundreds of relatively new units that AMLI operates at the park's edge now, with the AMLI Old Fourth Ward and AMLI Parkside communities. So the question becomes: Will all of this apartment activity translate to a serious injection of life — in the form of a fresh consumer base that appreciates things like walkability — or will it leave the area with a sea of empty units? For the city's sake, we're pulling for the former. But that's a lot of product to fill at once. After the jump, we take a glimpse at each new project in this red-hot mecca for rentals. (If you're wondering: None of the buildings will offer retail, but will serve to buttress the businesses of Ponce City Market).
First, the project that we've heard has had no problem pre-leasing to the max. Ponce City Market will offer 259 flats when it opens sometime next year. Its unique amenities include that historic architecture (think: steel windows) and on-site food, shopping and entertainment. Direct access to the Beltline can't hurt, either.
Across North Avenue, practically in the shadow of Ponce City Market, is the largest project, in terms of sheer apartment numbers. AMLI Ponce Park — a $40-million, 305-unit apartment complex — is beginning to take shape in the former Masquerade parking lot. Last we heard, move-ins should start happening in the spring.
Just up the North Avenue hill, on the opposite side of the Masquerade, Perennial Properties' 755 North project is rising. Formerly known as "The Somerset," the four-story, 227-unit development aims for a spring completion, replete with 600 feet of Beltline frontage. View from west-facing apartments should be stellar.
Last but not least, Bohemian House Old Fourth Ward — or BOHO4W, if you're hip enough — is a $35-million, 276-unit complex. Officials expect a staggered opening to begin within a few weeks, with a tentative completion set for June.
· First Look: Bohemian House In The Old Fourth Ward [Curbed Atlanta]
· Big Beltline Apartment Project Has New Name, No Retail [Curbed Atlanta]
· For AMLI, Third O4W Project Is A Vote Of Confidence [Curbed Atlanta]