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.
Click Here for More Photos & the Rest of the Feature

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. 

40 luxury condos at Tribute Lofts in downtown are going to be auctioned off next month. They are going to be selling for as low as $110,000. That is a huge savings from what people have paid to be in that building (a discount of about 34 percent to 54.5 percent). The building has only been open for less than one year. There are 147 condos in the complex and 68 have been sold. If you are looking for a loft, it’s a great time to purchase and save a bunch of money.

Tribute Lofts was awarded the Atlanta Downtown Design Excellence Awards in 2007. The lofts are located in downtown on the corner of Freedom Parkway and Boulevard. The auction takes place on Sunday, June 22 at 1:00 p.m. at the Omni Hotel at CNN Center.

Read more of this post, including photos of the gorgeous view, amenities area and more.  Click Here for More Photos & the Rest of the Feature

When the W Hotel & Residences at Allen Plaza opens this Christmas, it’s sure to be one of the new hot spots to see and be seen in Atlanta. The building is really looking terrific now! The W Hotel will be a striking 28-story tower with 237 hotel rooms separated by a Bliss Spa and topped with 76 condominiums. It will have 10,000 square feet of meeting space that adjoins to 55 Allen Plaza

You can clearly see the 14th floor infinity edge pool (called Wet) with an amazing view of downtown and the helicopter pad on the top of the building. This W is built from the ground up. It’s not going to be like the W Midtown, which was an older hotel refurbished into the W brand. Scroll down for some renderings of the residences and amenities. Acclaimed architects Pickard-Chilton designed this hotel. It is the first W Hotel to be built in Atlanta.

Highlights/Upgrades available for residences:

• Living areas withe 10 foot ceilings
• Ultra-stylish European-design cabinetry with wood and lacquer finishes
• State of the art Gaggenau kitchen appliances
• 14 foot wide balconies with unsurpassed views
• Dornbracht, Toto and Kohler plumbing fixtures
• Technology Upgrades Availabe: Automated draperies, Lutron wireless lighting systems, custom Bang & Olufsen audio/visual systems, Built-in Gaggenau coffee maker
• Choice of finish packages including: wood flooring in living areas, stone flooring in baths, full height shower enclosures, marble granite or stainless steel kitchen countertops
• Interiors designed by acclaimed BurdiFilek

Wet – 14th floor pool deck

Living Room Lounge

Rendering of a residence living room 

Rendering of a residence kitchen

Rendering of an ultra-chic residence bedroom.