"This just sweetens the pot a little more," says Linda Kersey, Lane's senior regional manager. Offers include twice-a-month sessions with a personal trainer, 50% discounts on pet grooming and car detailing, and free access to special events with gourmet appetizers and drink specials.
Amenities already in place to Atlantic Station apartment dwellers include free shuttle service to nearby stores and restaurants, access to "zip" cars, swimming pools, private green spaces and business centers. Flexible leasing plans are available and annual rent breaks are also being offered to some new tenants.
Discounts are available at Metro on 16th, 17 Street Lofts, Park District, Icon and Park District apartments, as well as The Flats collegiate housing complex. Monthly rents range from $750 to $2,600, based on apartment type and floor plans.
Lane jointly owns Atlantic Station apartments with Philadelphia-based Lubert-Adler, a private equity firm. In January, they formed a $250-million partnership to invest in distressed multifamily assets in the Southeast and Southwest.
Atlantic Station is a 138-acre live/work/play redevelopment in Atlanta's Midtown district with plans for six million square feet of class A offices, two million square feet of retail and entertainment, 5,000 residences and 1,000 hotel rooms. Atlanta-based Jacoby Development Inc. partnered with American International Group Inc. on the project, though it is not believed to be at risk given AIG's current problems.
In a related note, the law firm of Womble Carlyle Sandridge & Rice has moved into 77,500 square feet in three upper floors of the 25-story office tower at 271 17th St. NW. The 540,000-square-foot building is Atlantic Station's tallest.
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