The Atlanta Business Chronicle is reporting the W Downtown Atlanta Hotel & Residences has been officially foreclosed. The project has had it’s share of troubles since opening, selling a single condominium upon opening.
Now the question is what will happen to the condos and to Allen Plaza in the future.
With condo prices already low in many new Atlanta buildings, I hope we’ll see the W follow suit and resurrect itself to bring some much needed life into the building. Maybe we’ll see another auction take place. What ever the case may be, I’ll be here to let you know the story.