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Sales Hit Half-Way Mark at Renovated Studioplex

ATLANTA-Studioplex is being renovated as a joint venture between the Historic District Development Corp., Columbia Residential and Orinda Corp.

By Gina Kenny | Updated on July 19, 2007

ATLANTA-A joint venture renovating the historic Studioplex building has sold half of the 130 condominium units and has closed on 20 of the units. The 160,000-sf building, located on Auburn between Edgewood and Irwin avenues, is being renovated by a partnership between locally based companies Columbia Residential and Orinda Corp. and the Historic District Development Corp. The partnership is spending approximately $4 million on renovating the building, says Dillon Baynes, president of Orinda Corp.

Studioplex, in the heart of the Old Fourth Ward, was constructed in 1906 and was originally a cotton warehouse. In 1998, Historic District Development Corp. converted the building to apartments and the joint venture was formed in January to convert it to condominiums, Baynes says. The building will have 145,000 sf of loft units with 112 loft residences and 18 loft offices. The average loft size is 1,100 with units ranging from 760 sf to 2,100 sf. The units are being sold for approximately $200 per sf, Baynes tells GlobeSt.com.

The units have 12-foot to 17-foot ceilings and exposed brick walls. Some of the renovations to the units included the addition of granite countertops and stainless steel appliances. Renovations to the property include new landscaping, “significant exterior shell improvements,” doors and windows and the addition of a rooftop deck, he says. The units are being marketed by the Marketing Directors with David Patton/Prudential Georgia Realty.

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