In a way, Atlanta’s generations-old quest to become the South’s answer to Manhattan appears to be succeeding.
First came word of Old Fourth Ward apartments asking north of $15,000 monthly for sizable penthouse units over Edgewood Avenue.
Now, on the opposite side of the size spectrum, micro units charging rents comparable to exurban mortgages have generated headlines this week, following buzz (and consternation) on social media.
As WSB-TV relays, some local real estate observers have called prices exorbitant for the smallest studio units at Midtown’s new 903 Peachtree tower. (Other posters have applauded the property for going after top market value in a prime location on Atlanta’s signature street.)
Which begs for a closer look.
Marketed as a “vibrant community built for urban exploration,” the glassy 33-story building developed by Chicago-based CA Ventures opened last year.
The recent fuss involves the smallest floorplans—379 square feet, without space for even a loveseat—and their starting rent prices of $1,674.
A less expensive option with 17 more square feet (a big deal for micro spaces) is renting for $1,599, it should be noted.
Rents starting at $1,674 get this studio arrangement at 903 Peachtree. 903PeachtreeAtlanta.com
Only two studios renting for less than $1,700 are currently available, both on the eighth floor, per the 903 Peachtree website.
A leasing portal indicates rents have climbed to more than $8,000 monthly, though no units are available at that price.
The 903 Peachtree building's glassy facade today. Google Maps
Named for its address, the 903 Peachtree project added 427 more apartments to Midtown’s core commercial district, with 9,568 square feet of retail space at the base.
CA Ventures bought the property in early 2020 for $14.8 million, city records show. Eateries Bezoria and Noodle and a T-Mobile store had previously operated at the 903 Peachtree site.
The building began leasing in spring 2022, after having topped out the previous January.
The Solomon Cordwell Buenz-designed tower, positioned where Peachtree and Eighth streets meet, is tall enough to stand out from Piedmont Park, sections of the BeltLine, and other points east.
As with other intown apartment projects that have recently delivered, its rents are tall enough to stand out, too.
The project's south face when under construction in January 2022, toward downtown Atlanta. Bulldogs—a Midtown nightlife mainstay for more than 40 years—is in the foreground.Josh Green/Urbanize Atlanta
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