After initially listing condos for sale two years ago, a unique infill project in Castleberry Hill is coming back to market—with bumped-up prices.
Developed by Capital Design Group, the 27-unit Lyric Lofts project broke ground at 346 Peters Street last winter, claiming a vacant lot near Castleberry’s junction with Adair Park and Pittsburgh. It’s another example of a product type—the boutique new condo building—that had all but gone extinct across Atlanta a decade ago but is slowly coming back.
Topped out last summer, the Gamble + Gamble Architects-designed loft building stands four stories with space for retail at the base. Downtown views from a communal roof terrace have been described as “sweeping,” and the overall design “industrial lofts reimagined.”
Lyric Lofts was initially expected to be complete in 2021—back when prices began in the $230,000s and topped out in the $620,000s for penthouses. Times have changed.
Lyric Lofts' proximity to The Benz and downtown, prior to construction. The project took a formerly vacant lot at 346 Peters Street, near Castleberry’s junction with Adair Park and Pittsburgh.
Courtesy of Lyric Lofts, VantagePoint 3D
Listing agent Angela Beck, of Atlanta Fine Homes Sotheby’s International Realty, told Urbanize Atlanta last summer the forecast called for finishing construction in late 2022 or early this year.
According to new condo listings this month, the revised target for delivery is late summer.
So far, prices for one-bedroom options with 981 square feet start at $370,000 (plus $294 monthly HOA fees).
Meanwhile, the priciest new listings to date are two-bedroom, three-bathroom condos (smaller than penthouses at 1,626 square feet) with $488 HOA fees. The project's website indicates prices will now top out in the mid-$800,000s for the largest dwellings.
Planned look of the 346 Peters Street exterior at night.
Courtesy of Lyric Lofts; designs, Gamble + Gamble Architects
Courtesy of Lyric Lofts; designs, Gamble + Gamble Architects
Lyric Lofts was such an offer magnet prior to groundbreaking it was pulled from the market in March last year, when seven units were under contract, with expectations of re-listing in April to adjust for market and supply chain conditions, officials said at the time. Records indicate none of the condos sold.
Just one garage parking space (gasp) will be available per unit, with roughly half of those having EV-charging capabilities. Not coincidentally, the location counts a dynamite 89 Walk Score rating.
Across Atlanta, new boutique condo builds were almost nonexistent in post-Great Recession years. More recently, projects with limited numbers of for-sale units have sprouted from Ormewood Park, Kirkwood, Decatur, and Blandtown to elsewhere in Castleberry Hill.
In the gallery above, find a detailed look at what the Lyric Lofts infill project expects to bring to Peters Street.
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