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Lofty Ambitions

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Permits have been filed to start work on a $12 million project that would convert the historic Fulton Supply Co. building in Castleberry Hill into 74 rental lofts. The proposal was first put forward in 2008, but was shelved because the recession was a crusher of hopes and dreams. Now the development at 342 Nelson Street (a couple of blocks south of the Georgia Dome) is back and expected to be complete by 2016 with units averaging 1,000 square feet and renting for $1 to $1.50 per square foot. More renderings are available from Praxis3. [BisNow]