Quote:
Originally Posted by ATLontheRISE
Looks like No.2 Opus has been altered and will only be 53 stories. No hotel component. I wonder what happen. Even without the hotel, it will be a nice addition to the skyline. Maybe the hotel component was too much when SLS is also in the works?
http://www.bizjournals.com/atlanta/n...r-midtown.html
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From my understanding the hotel component allows developers the capital they need to get the building under construction so they don't have to wait for the "x%" of presales that is typically required with condo-only deals. They say in the article that they're doing residential only, because the "condo market is so strong", but I don't know how much faith I put into that. Originally they were targeting 380 condos, assuming they have to pre-sale 190 (50%), that is a tough order.