Urban Realty Partners LLC, which is building The Brookwood mixed-use project on Peachtree Road in Buckhead with Regent Partners LLC, is reducing the number of condominium units in the project by 56, increasing the size of the units and also increasing the pricing.
Claiming they had not sold any units under previous plans, Urban Realty managing partner decided to reduce the number of condo units from 275 to 219. At the same time, starting prices that had been in high $200,000s now are priced starting at $500,000 and going up to $1 milllion.
Urban Realty reportedly made the decision that fewer, more generous-sized homes is what the location of The Brookwood called for and what they were seeing the market wanted.
Located on 2.5 acres at Peachtree Road and 28th Street, The Brookwood also has 20,000 square feet of retail space on the ground floor, half of which will be for restaurants.
Construction of the $140 million, 20-story project is expected to be completed in the summer of 2009.