With the old homes cleared away, construction on Reynoldstown's Elan mixed-use development is going gangbusters, and so is leasing activity, project officials report. The modern-style apartment complex will form the northeast corner of the historic neighborhood, acting as a Reynoldstown welcome mat for anyone traveling south from Little Five Points. In addition to 285 apartments, the project will offer 16,000 square feet of street retail space — half of which will be devoted to restaurants. Developers Greystar and Crim & Associates hope to capitalize on a small green space called Gateway Park — home to a "Reynoldstown" sign and a distinctively blue sculpture — by placing outdoor dining next door to it, creating a "bistro/café atmosphere along Brantley Street," said Steven St. Paul of Crim. St. Paul says leases for 50 percent of the retail space are being negotiated with various tenants, though the project isn't expected to deliver until the second quarter of 2016. He adds: "The intention is to provide the residents of Reynoldstown and shoppers visiting the Edgewood Retail District a gathering spot in one of the most interesting neighborhoods in Atlanta." (And a freshly crowned Curbed Cup champion, to boot).
The project will be Charleston-based Greystar's third Elan development in Atlanta since 2012, joining a portfolio of 34 apartment communities the company manages across the metro. Officials say the Reynodstown apartments will range from studios to two-bedroom units, with an average of 890 square feet. Perks will include quartz and granite countertops, a resort-style pool, fire pit and bocce court. Logic would suggest that rents could be cheaper than other new apartment communities in more established neighborhoods, but it's too early to project rental rates, St. Paul told Curbed Atlanta. "Leasing for the apartments will not start for at least another year," he said.
Greystar's partner, Crim, has developed more than 40 retail, office and apartment projects across Atlanta. They're currently handling the leasing for One City Walk, a mixed-use development that's expected to become the heart of Sandy Springs' City Center.
· Price of Progress: the Doomed Houses of Reynoldstown [Curbed Atlanta]
· All Hail Reynoldstown, Your 2014 Curbed Cup Champion! [Curbed]