Like so many Atlanta condominium buildings that delivered as the Great Recession strangled the region’s development industry (remember condo auctions?), central Midtown’s largest new ground-up condo project in a decade appeared to be doomed by terrible timing last March.
A year later, however, the marketing team for J5 Midtown says a shift is afoot, as COVID-19 vaccines become widely available, workers start trickling back to offices, and the idea of buying an intown home stacked atop others regains its allure.
Earlier this year, brokerage team Group KORA took over J5 sales and helped lead a $1-million renovation of what was basically a brand-new building, an effort to retrofit it to better suit post-pandemic buyers.
That includes a redo of lobbies and other shared spaces, boosting WiFi capacity across the property, and completing two model condos designed by Musso Design Group and Habachy Designs, a means to showcase flexible floorplans.
“Since we launched the repositioning at J5 in January … we’ve seen a huge uptick in traffic and renewed interest in the project,” Karen Rodriguez, Group KORA founder, said in an email statement. “Especially around the forthcoming coworking spaces we’re adding to the property for those potential residents doing a hybrid work model.”
That echoes sentiments shared by sales leaders at the area’s other two major condo ventures to get out of the ground in the past couple of years—the 40 West 12th condos and 22-story Seven88 West Midtown.
Heads of both projects have recently told Urbanize Atlanta they’ve seen strong interest and signed contracts with relocating Atlantans and recent arrivals from afar whose appetites for condo living in dense locations weren’t spoiled by the pandemic.
Rodriguez believes a “resurgence” in Atlanta’s intown condo market is happening now, stemming a 2020 shift toward larger spaces in the suburbs.
“As employees start heading back to work, and the city continues to reopen,” she said, “there will be a renewed interest in intown properties among those buyers that crave that vibrancy and energy that comes with living in the center of the city."
Designed by Smith Dalia, the six-story building by Dezhu US delivered 150 condos total, each with outdoor space. We’ve asked for information on what a “huge uptick” in interest has meant in terms of J5 sales, and we’ll update this story should details come.
Floorplans range from 703-square-foot one-bedrooms to two-bedrooms with just shy of 1,400 square feet. Current prices start at $370,000 and top out in the $900,000s.
CLARIFICATION: This article has been updated to reflect that one condo priced at $370,000 remains available, which is where prices begin.
• Recent Midtown news (Urbanize Atlanta)
• J5 Midtown (site)