Condo construction in Atlanta is currently limited to ultra-high-end units starting at more than $1 million, leaving many to wonder if enough buyers exist at that price-point.
It seems they do exist.
The Charles, a ritzy condo tower with 57 units planned for Buckhead Triangle, is reportedly pushing toward construction thanks to strong presales on two- and three-bedroom units that start at $1.3 million.
In October, it was revealed that developer Loudermilk Cos. was pretty bullish on the project, pushing permitting ahead despite a lack of sales.
The tactic appears to be working, as BuckheadView reports that 10 percent of the units have been scooped up, motivating the opening of a sales center just down the street.
The 18-story tower will offer units averaging 2,900 square feet and will sit atop 30,000 square feet of ground-level retail and a three-level parking deck.
Loudermilk hopes to start construction in the first half of the new year.