The Story
SEPTEMBER 30, 2004
BY JOHN SCHAFFNER
Lane Co. this week announced plans to build its second condo community, named “Element,” at Atlantic Station and about 300 prospective buyers have already signed up to request information and seek appointments, according to the developer.
The new $55 million condo community will include 322 one-, two- and three-bedroom homes, some featuring loft-style mezzanine levels. Many of the units will overlook the swimming pool, parks or lake, with views of the Midtown and downtown Atlanta skylines. The first homes should be ready for occupancy by next summer, with final completion of the project scheduled for the summer of 2006. Prices will start in the high $100,000 range.
The new five-story condo community will have parks, a pool with a sun deck, a business center, Internet café, conference room and fitness center. Residents have the option of joining a professionally managed health and wellness center and spa, which will be located next door.
“We have a fantastic product, an exceptional intown location, and prices that are extremely reasonable, especially for Midtown," Lane COO Bill Donges said. Donges is also president of CondoLane, which will market and sell the new condos. "This project is at the center of a new kind of urban lifestyle," he added.
The new condos will be between the new IKEA store and the retail and entertainment district of Atlantic Station, which are both under construction. When complete, the retail and entertainment area will have a movie theatre, a grocery store, restaurants and shopping. When fully completed, Atlantic Station will feature 12 million square feet of retail, office, residential and hotel space.
Lane Investment & Development Corp. will develop the project, Lane Realty Construction will build it, and CondoLane will market the condos. All are subsidiaries of Atlanta's Lane Co. The Preston Partnership LLC designed the new community.
The condos will be available for presale in the coming weeks. Potential buyers and brokers who want more information or are interested in pre-sale appointments can sign up online at
www.elementatlanta.com. After signing up they will receive floor plans, pricing information and more details about how to arrange a sales appointment.
Lane Co. set records last October when it sold $10 million worth of condos at Art Foundry in Atlantic Station in just three hours. The company predicts strong sales for the new community as well.