Lane Co. originally envisioned the mid-rise, two-building Axis at Perimeter in Atlanta as a hybrid, with both rental and for-sale components. But by the time Lane got close to breaking ground in 2007, the down economy and slow condo sales convinced the developer to make the 312-unit property 100 percent rental, explains Jeff Sherman, development manager at Atlanta-based Lane.
The company was confident that, despite the market, the building’s premier location—close to office towers, major highways, and the heart of Buckhead—would make it appeal to young professionals and empty nesters. Add a novel exterior design and a posh array of amenities and services, and Axis at Perimeter would stand out even more.
“We wanted Axis at Perimeter to be chic, modern, and bold rather than traditional looking,” Sherman says.
Designed by Atlanta-based Preston Partnership, the building consists of low geometric structures with brick and earth-colored stucco façades and three atypical outward-facing courtyards. “Most buildings turn their back on the street, but Lane wanted us to make this [site] open since that’s what the younger generation wants,” says architect Michael Grill of Preston.
The three courtyards include a resort-style pool with surrounding cabanas, a culinary herb garden, and an outdoor living area with fountains, a gazebo, and fire pit. Interior amenities include a business office, lounge, fitness center, and theatrical-style kitchen so visiting chefs can demonstrate or even cook Sunday breakfasts to order.
One-bedroom units range from 660 square feet to 870 square feet and average $1,130 to $1,250 per month; two-bedrooms range from 1,000 square feet to 1,380 square feet and average $1,470 to $1,820 monthly. Building occupancy hit 50 percent in April.
“It’s a challenging market, but we work hard to forge personal relationships,” Sherman says. “There aren’t too many buildings where residents deliver gifts to management at the holidays.” Now how’s that for Southern hospitality?