2007 MFE Awards
Merit: Best Reuse of Land
Atlanta's element, a 322-unit luxury condo complex, was a big hit with buyers: Just weeks into pre-sales, more than 70 percent of its units were under contract.
With a prime location in the mixed-use Atlantic Station project, condos sold from $172,499 to $449,000; 30 percent of the units were priced at less than 2.5x the area median income. Atlanta-based Lane Co. developed the property.
Located on a brownfield redevelopment site, the building's foundation was carefully designed to deal with inconsistent soils residual to the steel plant that previously occupied the site. The finished product offers one-, two-, and three-bedroom residences with an average unit size of 1,065 square feet. Units feature granite countertops, European-style cabinetry with brushed-chrome handles, stainless-steel appliances, soaking tubs, designer tile, and hardwood floors.
Atlanta-based Preston Partnership designed the mid-rise community, blending classic and neo-modern elements to create a unique, earth-toned structure. element is adjacent to a 7-acre elliptical park, which features a 200-foot-long pedestrian bridge. The project also boasts many luxury amenities, including a pool, sun deck with barbeques and patio tables, business center, state-of-the-art fitness center, and Internet café. Additionally, residents can use a complimentary shuttle bus throughout Atlantic Station.