Roughly six months after breaking ground, another boutique condo venture in Atlanta’s Castleberry Hill loft district has taken shape on a previously vacant lot.
Developed by Capital Design Group, the 27-unit Lyric Lofts project is framed up at 346 Peters Street, near Castleberry’s junction with Adair Park and Pittsburgh.
It’s another example of a product type—the low-rise new condo building—that had all but gone extinct across Atlanta a decade ago but has slowly made a comeback.
Described by marketers as “industrial lofts reimagined,” the Gamble + Gamble Architects-designed building stands four stories with space for street retail at the base. Downtown views from a communal roof terrace have been described as “sweeping.”
Lyric Lofts was initially expected to be complete in 2021, but construction didn’t launch until late winter this year, just as new construction at nearby megaproject Centennial Yards was beginning to rumble to life. (A listing agent with Atlanta Fine Homes Sotheby’s International Realty previously told Urbanize Atlanta they expected CIM Group’s Centennial Yards will do for Castleberry “what Hudson Yards in [New York] did for the Meatpacking District.”)
Lyric Lofts was such an offer magnet prior to groundbreaking it was pulled from the market in March, 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.
Back then, the building was expected to deliver sometime this fall. We’ve asked the sales team for an update on delivery and what homes remain available at Lyric Lofts, and we’ll post any further information that comes. [UPDATE: 2:02 p.m., August 10: Angela Beck, Atlanta Fine Homes Sotheby’s International Realty listing agent, emails the following: "Realistically, we’re looking at end of the year or early 2023 (for completing construction). Updated pricing and availability is expected to be released in late August."]
The building’s promotion website says remaining condos are priced from the low $300,000s to the high $600,000s.
Former price points ranged from $235,500 for one-bedrooms with 746 square feet, up to a two-level, three-bedroom penthouse priced at $624,950 for 1,842 square feet.
One garage parking space will be available per unit, with roughly half of those having EV-charging capabilities, and HOA dues will be 30 cents per square foot, sales reps previously said.
Across Atlanta, new boutique condo builds were rare, if not nonexistent, in post-Great Recession years. More recently, projects with limited numbers of for-sale units have been sprouting from Ormewood Park, Kirkwood, and Decatur to Blandtown.
Elsewhere in Castleberry Hill, an eight-loft condo building developed by HGTV star Ty Pennington debut in late June, with prices between $508,000 and $1.35 million. According to listing services, none of those condos have gone under contract yet.
Head to the gallery for glimpses at what the Lyric Lofts infill project is bringing to Peters Street, and where it stands now.
• Castleberry Hill news, discussion (Urbanize Atlanta)