If you read my blog regularly, you know I’m not a huge fan of the W project in downtown. The project sits in a strange location very close to the highway and in a transitional area of Atlanta. While it’s not the best location, Allen Plaza is trying to change the negatives into positives. The 9 block mixed use development on the Northern edge of downtown Atlanta will have 2.5 million square feet of Class A office space, 250,000 square feet of neighborhood retail/restaurants, 2,500 plus residences and 1,100 plus hotel rooms in four hotels. Of course, this is always subject to change. Already, BLT Steak was scheduled to open at the W, but have since pulled out of the project.
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Even with the cancellation of the Baccarat Hotel and “1″ Hotel & Residences being delayed, The Streets of Buckhead project pushes on and continues to land ultra high-end retailers. This week, Ben Carter announced some impressive additions to his growing list of luxury brands.

Van Cleef & Arpels: Whimsical fine jewelry and watches. You can spend $100,000 and up on jaw dropping jewelry if you want to impress that special someone.
Brunello Cucinelli: Luxury Italian cashmere sweaters and fine clothing. $12,000 furs available. Watch out for P.E.T.A. 
Bonpoint: French luxury clothing line for children made from the best fabrics – a true Parisian luxury.
Billy Martin’s: Western and “rock-n-roll” fashions from leather jackets to jewelry. Who knew you could spend upwards of $3,000 on cowboy boots?
Arthur: French sleepwear and fine boxer shorts.  
Equinox: Exclusive gym known for star-sitings in Los Angeles and New York. 
Christofle: A French gift boutique featuring frames, jewelry, a bridal registry and tableware. Think Tiffany, but better.
Le Colonial: French-Vietnamese fine dining restaurant from New York.
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Life at 1010 Midtown is looking really great. There is a ton of activity in and around the first phase of 12th & Midtown. I took a drive around the site last week and the restaurant spaces along Crescent Street are coming along nicely. The sales center is going to move into 1010 in a couple weeks and by mid-November activity in the building will be finished. Residents will be moving in soon to enjoy really spectacular views in an amazing location.

In the rumor mill – I have heard the Kessler Collection will be adding their brand to the third phase of 12th & Midtown.

Below: The pool has been filled and the landscaping is completed. Now all we need is the furniture!

I really love this tower and I’m looking forward to seeing it completed. The glass they are using is so beautiful and it really captures just about everything around it. The glass is nearly up to the residents level.

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Above: The View from 40SW

Last month there was a huge condo sale at Park Avenue in Buckhead. This premium unit is located on the 40th floor and sold for $3,450,000 – originally listed at $3,975,000. The condo features oversized rooms, high ceilings, wrap around terraces with spectacular views and even two private 3 car garages. Not bad for being in the middle of everything. I love the interior which is light, open, tasteful and timeless.

This just proves the luxury market in Atlanta is still going strong. Residential sales in the $2,000,000 and up price range are showing no signs of slowing down, with condo sales at the St. Regis, The Mansion and Sovereign continuing at a steady pace. One thing to remember about these luxury buildings is they have a smaller number of units available for purchase and they are more exclusive. Buyers will always pay for quality and luxury.
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The St. Regis Atlanta is set to open on March 1, 2009, where the average sale for a condo for sale is $3,000,000. Pretty hefty price tag for a luxury condo, but even at that price point they have sold all but five of the 50 residences.

The remaining five units are priced at:

Unit 1440 – $4,800,000
Unit 2040 – $4,500,000
Unit 1210 – $3,900,000
Unit 1240 – $3,700,000
Unit 1640 – $3,400,000

Take a look at these photos that show how the building currently looks.

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