Atlanta-based Chartwell Development Partners is building a 22-story luxury condo project in the heart of Atlanta’s Buckhead Village. Chartwell has secured construction financing for a 19-story, 270-unit luxury condominium in Central Midtown adjacent to the Federal Reserve Bank. Between the two buildings, Chartwell Development has more than $115 million in high-rise residential real estate under development in Atlanta.
Construction on the new building will begin in the first quarter of 2004, with first units available in mid-2005. Unit prices will range from the mid-$100,000s to the high-$300,000s.
"This new project fits perfectly with our goal at Chartwell Development: to create buildings that play a major role in urban revival," says Nixon Jefferson, president of Chartwell.
Chartwell is under contract to purchase the land for the new building from Atlanta REIT Post Properties, which announced plans for an apartment community on the land in the late 1990s.
"I thought this was a great site for a residential development when I worked on it at Post, and I still do," said Jefferson, who was previously with Post Properties. "Midtown is thriving and the location is unbeatable, with easy access to all of Atlanta's interstates, Peachtree Street and MARTA."