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How a new BeltLine project reflects demand for apartments in a pandemic

A new 114-unit building at 678 Edgewood, part of the 23-year-old Studioplex development on Atlanta’s BeltLine, shows how multifamily developers have adjusted to the realities of pandemic apartment hunting.

Columbia Ventures is outfitting the $37 million project with 80% studios and one-bedrooms, a unit mix that might have once seemed “avant-garde” to other apartment developers,” said the firm’s managing partner Dillon Baynes. Even today, many developers still plan just 50% of their units as studios or ones.

Baynes, however, said times have changed.

“COVID solidified our thesis,” Baynes said. “A lot of folks want to live without a roommate.”

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Source: Atlanta Business Chronicle

Asana Partners Acquires SPX Alley From Columbia Ventures For $19 MM

‘Strength of all of the entrepreneurs that have opened’ in the development led to the ‘great sale.’

Asana Partners recently acquired SPX Alley from developer Columbia Ventures, the Atlanta Business Chronicle first reported.

The Charlotte-based real estate company paid $19 million for the 30,000-square-foot retail portion of Studioplex’s Phase II.

It sits under townhomes, being developed by Thrive, that were not included in the sale.

Dillon Baynes, co-founder and managing partner of Columbia [Ventures], confirmed the sale in an email to What Now Atlanta Tuesday.

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The James Room Cafe Opens for Coffee and Lattes at SPX Alley

“The cafe at The James Room now serves breakfast and lunch, the cocktail bar opens Thursday for dinner and drinks.

The cafe at The James Room opens Monday, March 4 with limited hours at SPX Alley on the Eastside Beltline. The Old Fourth Ward cafe and cocktail bar, owned by Missy and Kristin Koefod of 18.21 Bitters at Ponce City Market, is currently open from 7 a.m. until 4 p.m. …”

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Source: Eater – Atlanta

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