SOLD! The Lofts at Reynoldstown Crossing sells all homes to 28 sets of buyers

It might just be the quickest sale of an entire condo building in Atlanta’s recent residential real estate history: the Lofts at Reynoldstown Crossing sold all 28 of its homes in one fell swoop on December 10, 2011. This is wonderful news for the Atlanta BeltLine, who bought the foreclosed condo building this past summer, fixed it up, and presented them to the public again this fall. This is the Atlanta BeltLine’s first residential real estate purchase (not something they’re in the habit of) and the fact that they, with the help of the Marketing Directors, pulled it off brings a sigh of relief to all involved. The Marketing Directors operated under a contract with the BeltLine to advertise the Lofts at Reynoldstown Crossing and to create an excited, orderly approach to selling all of the lofts in one day leveraging a drawing system. In a previous blog post, we explained the drawing system and showed interior images of the lofts.

38 sets of potential homeowners waited patiently as 28 winning names were called in the Lofts at Reynoldstown Crossing drawing

Three of the homes were sold as a part of the Atlanta Land Trust Collaborative (one of the boards I actually sit on) and these are the first Community Land Trust homes they have put under contract in Atlanta. One of the lofts went to an Atlanta Public Schools middle school teacher and the other two went to Atlanta police officers – congrats to all three! One of the couples is actually expecting the birth of their first child in early 2012, right around the time they are set to close on their new loft.

Congrats to this Atlanta Public Schools teacher who won one of the Community Land Trust homes at the Lofts at Reynoldstown Crossing

And congrats to the Atlanta Police Department winners of the Lofts at Reynoldstown Crossing drawing

The sale of these lofts really showcases the BeltLine’s and the City of Atlanta’s commitment to affordable housing and to creating more density along the BeltLine corridor. These lofts are located at the intersection of Memorial Drive and the Atlanta BeltLine’s eastside trail (just north of Glenwood Park). We look forward to seeing all of these contracts close in February and see moving trucks out front!

As lofts sold, the Marketing Directors marked off the claimed homes