If you are looking for a decent amount of space in the middle of Buckhead, Terminus is the place you want to be. I walked through the model (which was still being put together) about a month ago and it really looked fantastic. This amazing model home will be open to view right around July 4th.

The model was completed a few weeks ago, but the developer was waiting to complete the amenities deck before allowing it to be shown. No hardhats! The space is glorious and I think you are going to be thoroughly impressed by what you see.

Below: The model floorplan.

The model’s layout has been tweaked slightly. The dining room is now the living room, the living room closest to the kitchen is the dining room, and the larger living room is now a media room. This is a much better use of space. When you are sitting in the living room, you look out the window to the downtown skyline. 

The master bathroom is huge by condo standards. (Take a look at my previous posts for some photos.) The balconies are a little small for my taste, but they are perfect for a couple chairs and a small table. For a larger terrace, you need to be on the opposite corner of the building, or much higher up.

Prices in the FMLS (First Multiple Listing Service ) range from $344,900 to $3,022,000 .

I took a client to 1010 Midtown this afternoon and learned some information about what is going to be going in the retail portion of the project. The official announcement is going to be made in about two to three weeks.

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As planned, the auction to quickly reduce the remaining inventory at Tribute Lofts took place in one hour at the Omni Hotel at CNN Center. The highest price at the auction was a 1,306 square foot unit that went for $263,000 – a little over 30% less than the original asking price of $379,900. 

The cheapest sale was $132,000 for a 795-square-foot one-bedroom unit that originally was priced at $183,900 — a discount of 28.2 percent. Minimum bid prices for the one-bedroom, one-bedroom-with-den and two-bedroom units ranged from $110,000 to $198,000.

Instead of 40 units being auctioned off, only 30 units were sent to the chopping block. Some people weren’t interested in the other 10 units. Probably due to their location and size. 

Remaining are about 40 units at Tribute Lofts, which will all have their prices reduced as a result of the auction. What does this mean for you? Deals. What bargaining power buyers will have in purchasing the remaining inventory. 

Above: Standing on the 3 bedroom corner unit balcony looking at the amazing view.

Closings at Luxe for two bedrooms are scheduled to begin sometime in September and three bedrooms in October or November. Of course, this is always subject to change, but I suspect closings will be right around those time frames. The building is well underway, with the outside glass almost reaching the penthouse level. You can really see everything taking shape nicely as they work from the bottom of the building up to the top, completing the amenities area and luxury condos. Don’t mind all the paint cans and drywall laying around. It is a construction site after all!

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I took some clients to Luxe yesterday for a hardhat tour of the building and the developer has made some great progress. They are about 30% sold. This is really great considering the sales office has only been open for a few short months. I suspect as the building nears completion, that number will improve greatly. Buyers like to see the finished product first hand before they spend their hard earned cash. They now have a couple floors of finished units to show, complete with gorgeous kitchens, hardwood floors, spacious bathrooms and nice trim work.

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According to the Atlanta Business Chronicle, Ben Carter’s Streets of Buckhead development is 50% pre-leased. The project needs to be 65% leased by the end of the year. I think they are well on their way to achieving that goal. Contractors are currently pouring concrete for the foundations and have started working on the parking deck. Fall 2009 will be here before you know it! 

I know there is a lot going on at the construction site, because as I drive down Peachtree Road, traffic comes to a screeching halt. I can’t imagine what rush hour is like – madness! All I can say is avoid that stretch of Peachtree for the time being. There are plenty of back roads to take and I would stick to them, otherwise you’ll be enjoying your satellite radio talk shows for a while!

What’s the next big retail/restaurant announcement? I really hope some additional boutique style retailers set up shop at this project. 

Construction is well underway at 3630 Peachtree. The first residential floor has been poured and they are now working on the upper portion of the tower. After a slow start and scaling back on the project, this is great news! These photos are for Phase 1 – South Tower.

I have it on good authority a major luxury brand will be sitting on top of the building, with condo prices  starting at $1,000,000. (I do mean major.) I can’t reveal what brand this is, but they are extremely well known and service and quality. The million dollar price tag seems to follow the trend for the major luxury condo projects being built in Atlanta. At press time, there were to be 137 residences, but I expect we are going to see a change in this number.

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