Glenwood Park Announcements - May 25, 2005

After a successful Summer open to the public, Parkview, formerly the Southern Living Idea House, is now available to serve as a private home.  This innovative home was originally designed as a tool to show that, in order to build an environmentally responsible home, one does not have to give up on the comforts or elegant appointments of a new millenium building.  Indeed, the Southern Living Idea House showed that green building can enhance the serviceability and comfort of the home while simoultaneously reducing environmental impact and, thereby, reducing energy costs.  This home, which is full of top of the line decorator upgrades, as well as building upgrades such as the $100,000 Pella Window System, is avalable for purchase in Atlanta's award winning New Urban neighborhood, Glenwood Park.  What was once a showcase of the most innovative building tools today, can now serve you in the capacity for which it was intended:  a elegantly comfortable home that is environmentally friendly.  Call 404-622-5144 for further details on how to acquire this property.

The last bits of infrastructure work in the northern part of Glenwood Park still linger, but we are close to being finished. Faith Avenue is paved and complete, and our last street, North Ormewood Park Drive, will follow shortly.

On the building front, there has been a huge amount of activity. The first two condominium-over-retail buildings, 928 Garrett Street and 933 Garrett Street, are nearly finished. The next two condo/retail buildings, 924 Garrett Street and 925 Garrett Street, are well underway.

All three of our home builders have been working on additional single-family homes – Hedgewood on the north end of Hamilton, Capstone on the south end of Hamilton, and Whitehall down on Glenwood Park.

The townhouses on the west side of Bartram Street are well underway. These innovative buildings feature one-story flats with two-story townhouses above. All the units have private garages. The townhouses facing Brasfield Square have just begun construction.

The remaking of the one previously existing building at Glenwood Park is well underway by Parkside Partners. The building (which was once remarkably ugly) looks absolutely spectacular as it makes its transformation into the Brasfied Overlook office condominiums.

Sales, Move-ins, and Retail Leasing

To date 23 single-family houses and 9 fee-simple townhouses have been offered for sale in the neighborhood. All of them are sold, and the first 19 households have moved in. We have released 16 condominiums for sale in our first two buildings, and 13 of those are sold. Closings for those buildings are set for this month, so residents will be moving in there shortly, as well. The flats and townhouses that are under construction on the west side of Bartram Street are just now being released for sale, and our agents are having conversations with the substantial list of customers who have expressed an interest in them.

So, sales have been very strong and we don’t have much available for sale right now. But more houses, townhouses, and condominiums will be coming for sale in the weeks and months ahead, so if you are a prospective resident please do be in touch with our sales agents ahead of time so that you know what is coming and they know what you are looking for.

On the retail front, we have announced our first two stores, and they are both great ones. Babalu will be a new restaurant by noted restaurateur Joseph Hilton, featuring Latin food, an international bar, and tapas. It will be located on Brasfield Square at 933 Garrett Street. Just across the street at 928 Garrett will be Perk, owned by Dawn and Al Porras. Perk will offer coffee, ice cream, and panini. Perk will be the Porras’ second coffeehouse. They also own and operate Joe’s East Atlanta Coffee Shop. Babalu and Perk hope to open in late June or early July. Our retail leasing is proceeding very well, and we should have some more exciting retailers to announce soon.

Summary

All of us who have been working on Glenwood Park are feeling like proud parents these days. Thank you for your support and interest. And thanks especially to our early homeowners and residents, who are literally bringing the neighborhood to life.

Sincerely,

Charles Brewer
Chairman, Green Street Properties