Condos (GASP!) are bound for Cabbagetown’s Memorial Drive, and they aren’t crazy expensive

An overgrown, vacant lot on Memorial Drive in Cabbagetown will soon be transformed into a condo building, complete with retail space and eventually a few townhomes, developers tell Curbed Atlanta.

The project, known simply by its address as 764 Memorial, is slated to bring 24 for-sale residential units to the neighborhood, just east of Oakland Cemetery.

The property sits catty-corner from the under-construction Atlanta Dairies development and across the street from the planned Modera Reynoldstown location.

According to Charlie Tate, a partner at ITP Development, the building will offer 11 one-bedroom units and 13 two-bedroom options to start in the low $200,000s and range up into the $300,000s.

Each unit will feature a balcony facing Memorial Drive, with fifth-floor units also having private rooftop terraces with views of the downtown and Midtown skylines. Tate notes that unlike most properties in Atlanta, 764 Memorial’s views of the city will be persevered, thanks to height limitations immediately to the west in the Cabbagetown historic district.

While presales for the five-story building are still at least a week away, offers are already being made on units, and Tate expects the condos to move quickly.

For buyers, the good news is that the wait shouldn’t be exhaustively long. Because the project is being built on a site that was prepared for a similar building before the Great Recession, work should move quickly, with the building debuting by next summer, Tate said.

The first phase includes only the 24-unit building with commercial space below and a surface parking lot in the rear; but developers are confident that five townhomes, complete with rooftop terraces, will eventually be built on the western edge of the site.

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764 Memorial

• 764 Memorial [website]