125-year-old Grant Building will get a new residential life
The residential real estate market is booming in metro Atlanta and downtown Atlanta continues to be one of the hottest targets.
A groundbreaking, well, more like a demolition ceremony, took place on the third floor of one the city’s oldest office buildings Thursday, July 13. The 125-year-old, 10-story Grant Building, which was purchased in a joint venture between Wolfe Investments, a Texas-based real estate investment company, and Bluelofts, a national redevelopment company, in December 2022, will become a massive residential property.
The price Wolfe Investments and BlueLofts paid for the building was undisclosed. Downtown properties have paled in comparison to the land prices in Midtown, for example. The last listed price was $7.9 million in 2019, according to Fulton County property records.
The project is expected to bring 165 multifamily units to downtown’s Fairlie Poplar Historic District, which is located less than a half-mile from the Historic Sweet Auburn District. Downtown has seen steady residential growth over the past decade, but the Grant Building project is breaking new ground in a dilapidated part of town or on a dirt lot. The building was added to the National Register of Historic Places in 1979.
