By John Schaffner
editor@reporternewspapers.netNearly 90 percent of the St. Regis Residences condominiums being constructed atop the new 5-star St. Regis Hotel, at 88 West Paces Ferry Road, reportedly have been sold.
According to the developers of the St. Regis Residences, Atlanta homebuyers have put contracts on 44 of the 50 luxury residences and the project is on schedule for a late 2008 completion.
The development team currently consists of Paul Freeman, Trammell Crow Residential (TCR) and Bovis Lend Lease. Ron Terwilliger and the Trammell Crow Family now serve as equity partners along with the original equity partners John Meshad, Kent Levenson, George Berkow, Jim Cowart and Freeman.
TCR is providing construction management for the project, while Bovis Lend Lease serves as the contractor of record. Morgan Stanley is the construction lender.
According to Freeman, the St. Regis Residences are the only Atlanta condominiums in their price point “that are this far along in the sales process.”
The St. Regis Residences will consist of 15 floors of luxury condominiums above eight floors of St. Regis hotel rooms. Every residence will be situated in a corner location. All will feature large “great rooms” (nearly 900 square feet) and master-bedroom suites, each with balcony views of Buckhead and downtown Atlanta.
Homeowners will be able to choose from five customizable “Designer Series” floor plans, each featuring a private outdoor living room with fireplace and built-in gas grill. The spaces are intended to look and feel more like homes than high-rise condominiums, according to the developers..
For more information about the St. Regis Residences, Atlanta, call 404-261-3820 or visit www.stregisresidences.com/atlanta.