DEL.ICIO.USCondo of the Week: Sky Lofts Atlanta
A great deal for less than rent
For the AJC
Sunday, March 22, 2009
Curtis Gadsden moved to Atlanta from Columbia, South Carolina to attend Morehouse College. Now a junior majoring in political science, he says he has bounced around all over the city. “I’ve lived north, south, east, west and in the center, just all over the place,” he laughed.
Curtis Gadsden qualified for a down payment assistance program for first time home buyers. He now pays less for his mortgage than he did in rent.
Gadsden purchased a one-bedroom condo at Sky Lofts, which is located near Morehouse.
Directions from downtown Atlanta:
Take I-75/85 south to I-20 west. Take Exit 55A (Lowery Blvd./West End). Turn left at the light onto Joseph E. Lowery, Sky Lofts will be on the left.
Last fall, he bought a one-bedroom condo near Morehouse at Sky Lofts Atlanta off Joseph Lowery Blvd. “I started off in the West End living on campus, and now I’ve ended up in the West End buying a property. It really feels good to be a part of the redevelopment of this area,” he said, and hopes his plans for law school after graduation will keep him in the area.
A little help from his friends: Back in 2006, Gadsden’s friend Jennifer Sudeth, a Realtor with Pinnacle Intown Properties, bought a two-bedroom condo at Sky Lofts that Gadsden rented for two years. Talking with Chris Roberts, the property’s on-site agent for Morris & Raper, he learned that he might qualify for a down payment assistance program for first time home buyers. It turned out that he qualified for not only one program, but two - the Capital Gateway Program which gave him $20,000 towards his down payment and the Atlanta Housing Authority Home Atlanta program which gave him $13,000 towards his down payment. He closed on his home last October and his $900 mortgage payment is less than the $1,200 he was paying in rent.
Location couldn’t be better: “It’s an excellent, excellent location,” said Gadsden. “I’m a block from I-20 so I can get to all the major highways in minutes. I’m two blocks from the Atlanta University Center, the West End MARTA station is two blocks away and we have an array of shopping, banking and grocery stores all within walking distance.”
His new home: The one-bedroom one-bath loft has hardwood floors in the main rooms and carpet in the bedrooms. Stainless steel appliances, granite countertops and ceramic tile in the bathrooms were standard, but his interior design allowance gave him the flexibility to paint, to change out ceiling fans and light fixtures, and to really make the space his own. His model is the “Sky” and includes a curved accent wall and a laundry room that came with a washer and dryer and has lots of storage space. The balcony is accessible through both the living room and the bedroom and Gadsden enjoys the way it connects him to the sights and sounds of the city, including the passing of MARTA trains.
Retail on the ground floor is a great amenity: Downstairs at Sky Lofts is retail space including a nail salon, barber shop, casual restaurant, clothing store and an Internet coffee shop. “The coffee shop is really cool. It’s great to have a place where I can meet someone from school or when I have business ventures of my own,” he said.
Terrific value: “If you can take advantage of the down payment assistance programs, this is a great deal. You get a brand new condo in the city with Buckhead features at a really nice price. My friends and family are kind of astounded at how nice the place is and the great deal I got. Sky Lofts is definitely the jewel of the area,” Gadsden added.
Sky Lofts Atlanta
Address: 898 Oak Street, Atlanta
County: Fulton
Information: 404-330-1010; Sky Lofts
Price range: From the $119,000s
Year built: 2006
Standard features: Hardwood floors and carpet, stainless steel appliances, granite countertops, washer and dryer included, ceramic tile in baths
Amenities: Fitness center, clubroom, pool; close to MARTA; gated community
Number of units: 207
Square footage: 696-1,534
Association fee: From $156- $350; covers insurance, water, sewer, garbage, landscaping and all amenities
Broker: Morris and Raper Realtors
Builder: Russell Green Pastures, LLC
Schools: M. Agnes Jones Elementary, J. F. Kennedy Middle, Booker T. Washington High