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Up the hill from Ponce City Market, studio rents at Novel O4W to start at $1,600

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An Old Fourth Ward site redevelopment years in the making is expected to welcome first residents next month

A stair stepped building seen at night along North Avenue in Atlanta.
The building’s frontage on a sloped section of North Avenue.
Images courtesy of Novel O4W

Up the hill from Ponce City Market, at a prominent site where a fire-damaged apartment complex and several homes once stood, Old Fourth Ward’s latest rental community is almost ready for its closeup—with rents that reflect the area’s cachet.

The next piece to deliver in North Avenue’s eastside construction boom is Novel O4W, a 233-unit multifamily hub by Charlotte-based developer Crescent Communities that joins three other “Novel” concepts in the Atlanta market.

Hard hat tours for prospective renters have begun, and move-ins are expected to commence next month, officials said this week.

A floorplan for a studio apartment in Atlanta.
Floorplan for what’s considered a one-bath studio of 550 square feet.

Early info on rents shows that the stair-stepped complex’s smallest offerings, 550-square-foot studios, will begin at $1,600 monthly. The largest units—two bedrooms and two bathrooms in 1,389 square feet—require just shy of $3,500.

Plans for the apartments were revealed in 2017 after financing woes had stymied another company’s planned loft office project, first discussed four years ago. The former low-rise rentals on site and a row of houses to the west, near Boulevard, were razed in 2016.

On the retail front, the only announced tenant signing to date is a coffee shop by Land of a Thousand Hills.

The concept, LTH Coffee and Social, will take about 2,000 square feet of space in the building’s lobby and mezzanine, according to project reps.

Beyond onsite coffee, amenities will include a saltwater pool, dog park, pet washing area, two courtyards (one attached to a fitness center and yoga studio), and a roof deck with what developers describe as panoramic views of Atlanta’s skyline.

Crescent’s three other Novel projects around Atlanta—Perimeter, Midtown, and “Upper Westside”—are either leasing, under construction, or soon to launch, bringing more than 1,200 more apartments, per officials.

Other local projects the firm has built since 2011 include Crescent Terminus and Crescent Howell Mill.

A rendering of an entryway near a street.
The building’s North Avenue entrance.
A rendering of a commons area with huge pendant lights and a tv on a wall.
Planned look of a commons area.
A rendering of an apartment swimming pool with two pergolas at left.
Community pool and pergolas.
A white and gray apartment building on a sloped road in Atlanta.
The stair-stepped building, in full.