Remember the old days of autumn 2019, when new townhomes listing in the low-$400,000s sent ripples of gentrification and displacement fears through Westside communities?
Relatively speaking, those prices look cozy now.
Longtime Atlanta homebuilder Brock Built has released townhomes for sale at its under-construction Ten29 West project with prices that almost nip $700,000—in Bankhead.
For context, consider that within the official boundaries of Bankhead, records indicate only one home has sold for more than even $300,000 in recent years.
The 61-unit venture project off Donald Lee Hollowell Parkway, originally called The Finley, raised eyebrows earlier this year when the first offerings started landing contracts quickly, priced in the $500,000s.
Brisk sales appear to have driven prices—especially for end-units in key locations—ever higher since.
Brock Built’s website shows that 22 homes, or more than 1/3 of the community, have pending sales, and that more will be listed soon.
So far, the highest price is $690,755. That’s an end unit called The Avery plan with three bedrooms, three and ½ bathrooms, an expansive roof deck with “picturesque” city views, and 10-foot ceilings on the main level. It’s expected to deliver in early 2022.
At least four units are on the market now for north of $650,000. One end-unit priced at $671,000 is under contract, per listing services.
Earlier marketing materials indicated that all Ten29 West townhomes—located in “Atlanta’s newest renaissance, the rapidly developing Westside”—will span about 2,300 square feet.
A few blocks east in English Avenue, Brock Built attracted headlines two years ago after pricing the Oliver Street Townhomes project in the $400,000s. It marked the area’s first significant private residential investment in ages, but in a neighborhood with median household incomes of about $35,000.
Nonetheless, all 30 of those homes had sold not long after the project finished.
Now, Ten29 West is rising on about 4 acres along the former Bankhead Highway, west of Midtown, between what Brock Built describes as “two tech giants”—Georgia Tech, and Microsoft’s forthcoming 90-acre campus near MARTA’s Bankhead Station.
The townhomes back up to a new BeltLine connecting trail and stand roughly three blocks from Microsoft’s property. Beyond that is Westside Park, which is being built at the former Bellwood Quarry. The Maddox Park greenspace and MARTA’s Bankhead Station are nearby, too.
The amount of private and public investment—in addition to megaproject Mercedes-Benz Stadium and the recently opened Rodney Cook Sr. Park—have signaled for years that traditionally underserved Westside neighborhoods could rapidly change.
But anyone who says they foresaw $690,000 Bankhead townhomes in 2021 is probably fibbing.
• Images: Meet the BeltLine's Westside Trail extension, now under construction (Urbanize Atlanta)