Atlanta urbanists, particularly from the younger demographic, frequently express a sentiment that the city is deficient in available, amenitized housing options in walkable locales that are not priced at a premium.
However, simply offering such housing does not necessarily equate to a rush of buyers.
A salient example is Ten 5 Summerhill, a boutique townhome development situated on an underutilized corner lot along Georgia Avenue in one of Atlanta’s rapidly evolving food and beverage districts.
Despite being awarded the top honor in the multifamily/mixed-use category at the AIA Atlanta Residential and Hospitality Design Awards, and its market presence for over a year, only five townhomes have been sold.
Marketed as “half-sold,” Ten 5 Summerhill has seen some of its units discounted by more than $150,000 amid an environment where notable restaurants continue to proliferate on the same street.
The project, designed by Xmetrical, delivered ten townhomes at the intersection of Georgia Avenue and Martin Street, enhancing the ongoing residential growth near the former home of the Atlanta Braves.
Current prices for these townhomes range from $615,000 to $665,000, with square footages varying between 1,513 and 1,865.
Each unit features two bedrooms, two full bathrooms, two half-bathrooms, and rooftop decks.
This begs the question—do buyers in Atlanta require more than two bedrooms, or is the pricing still perceived as too high?
The townhomes come with HOA fees of $450 per quarter, covering services such as landscaping, common-area maintenance, trash removal, and exterior painting.
Listing agent Sara Lee Parker from Keller Williams Intown Atlanta is incentivizing potential buyers by offering up to $15,000 in closing credits if they choose preferred lenders.
Unique aspects of some of the four-story floor plans include replacing garages with street-level studio apartments, while off-street parking is discreetly located behind the townhomes.
Strategically, the development is located across from Phoenix II Park, a community greenspace, and is just a block away from a burgeoning array of restaurants and shops.
Amenities include a rooftop retreat complete with a half-bath, flex space, kitchenette, wet bar, and beverage fridge, along with luxurious features such as floating vanities, floor-to-ceiling Pella windows, gas cooking, and quartz counters, which add to the appeal of the townhomes.
The corner site, previously vacant for over a decade, has become a focal point within the revitalized Georgia Avenue, which has transformed significantly over the past eight years.
Collaborating on the Ten 5 Summerhill project is Intown Builders, known for their partnership with Xmetrical, alongside a development team that includes JB Development Partners, Bespoke Developments, and South City Residential.
Initially, there were plans for a larger six-story, 21-unit condominium with commercial spaces at the street level, but these plans evolved into the current townhome structure.
In recent years, Georgia Avenue has been reimagined, bringing a variety of restaurants, retail, and service businesses to life, further energizing the area.
As part of Carter’s Summerhill development, which was notably enhanced this year with changes in ownership, over 1,200 new apartments and townhomes have emerged near Georgia State University’s Center Parc Stadium.
Additionally, a different residential project known as Summerhill by Hedgewood has successfully sold out its planned 100 homes across three phases, showcasing the ongoing demand for housing in this revitalized district.
Despite the attractive offerings of Ten 5 Summerhill and the flourishing neighborhood around it, the struggles to secure buyers suggest that the Atlanta market is complex and challenging.
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