Great building and great location equals smart investment

When Elizabeth and Trey Scott went shopping for a first home, they were pretty savvy about the market and what would make a good investment. Trey works in hospitality asset management and Elizabeth works in commercial real estate development. This May will mark their first anniversary in their new home at Paces 325, a 22-story Buckhead condo community with 206 units. “We looked around a lot in Midtown and Buckhead,” said Elizabeth, “and we felt this was a quality building in a great location. It was a lifestyle decision for us to go with a condo rather than a single-family home, and this was the right place for us.” Trey added, “I’ve toured most of the new high-rises built in the last four years and I really thought this was the best all-around building.”

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Photos by Christopher Oquendo / AJC Special

The Scotts did their homework before purchasing their unit at Paces 325. They feel like they’ve made a sound investment with great potential for resale in the future.

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They love the layout of their 9th floor unit, which has a total of about 1,400 square feet of space. They appreciate that with the floor plan design there’s no wasted space.

Directions from downtown Atlanta:

Take I-75/85 north to Exit 251 towards Ga. 400. Take Exit 86 (Buford Highway) and follow Piedmont Road north exit ramp. Turn right onto Piedmont Road. Travel to East Paces Ferry Road and turn left. Paces 325 is located on the left at the corner of East Paces Ferry Road and Grandview Avenue.

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Buckhead with a neighborhood feel: Trey says one of the things that surprised them was how quiet their new home is. “Since it’s not located on a through street and is surrounded by roads with low traffic, it really does have a neighborhood feel.” Adding to the neighborhood feel is that the Scotts can walk to four grocery stores including Trader Joe’s and Whole Foods and a great restaurant meal is just a short stroll away.

The unit they decided on: The Scotts bought a two-bedroom two-bath unit on the 9th floor with about 1,400 square feet. “We liked this floor plan,” said Trey, “and it was the last remaining unit in this plan that wasn’t on the penthouse level.” Their balcony looks south towards the Midtown skyline and is large enough to entertain five or six people. Elizabeth says the unit seems particularly large because of its layout, with an entrance hall that leads into the living room and then further out to the dining room. The kitchen is a little secluded which makes entertaining less stressful when the cook doesn’t have to hide the meal’s preparations. The second bath has two doorways so it works well for entertaining as well as for stay-over guests. “I particularly love that we’ve got lots of storage here,” added Elizabeth. “There’s no wasted space. We use every nook and cranny. It makes you realize how much they thought out the floor plan, and when you’re paying homeowner association fees on each square foot, it’s great that we’re not paying fees for space we’re not using.”

The right amenities: Another thing the Scotts really appreciated was that the building wasn’t full of amenities they would never use. “A wine cellar, theaters … a lot of the newer buildings are adding those and they’re great, incredible when you’re going on tour, but once you’re living there, how often will you use them?” asked Trey. “And you’re going to pay for them each month in homeowner fees. We appreciate the fact that our fees are reasonable and they’re for things we really use like the 24-hour concierge and the gym, the pool and tennis court.”

The right spot and the right look: Paces 325 is next door to what will be the Streets of Buckhead development. The couple feels the building’s more traditional brick facade will stand the test of time better than many of today’s contemporary floor-to-ceiling glass buildings. “It’s definitely more timeless,” said Trey, “and we think that makes it a good investment for future resale.” Elizabeth added, “People have the notion that condos are not the best investment, but we feel we bought in a great building in a great location that won’t lose its value. We’re planning to be here for a while, and right now this is the right place for us, with great potential to hold its value.”

Paces 325

Address: 325 East Paces Ferry Road, Atlanta

County: Fulton

Information: 404-846-8844; Paces 325

Price range: $160,000s-$1,000,000

Year built: 2004

Standard features: Granite countertops in the kitchens and bathrooms; hardwood floors; oversized garden tubs; Kohler designer fixtures; hardwood cabinets and private balconies

Amenities: Fourth floor rooftop pool area with Wi-Fi, outdoor grilling area and cabanas; 1,500 square-foot fitness center and tennis court; 1,800 square-foot entertainment center with bar and lounge; controlled access covered parking and 24-hour concierge

Number of units: 206

Square footage: 800-1,400

Association fee: $.29 per square foot; covers maintenance of pool, tennis court, fitness center, clubroom; trash removal, internet access

Broker: The Marketing Directors

Builder: Batson-Cook

Public schools: Garden Hills Elementary, Sutton Middle, North Atlanta High