Peachtree Hills Place Continues as Planned

Isakson Living’s soon to be built Peachtree Hills Place is making progress and getting ready for their residents. They have already pre-sold almost 50% of their 258 units and once they reach 65%, they can close their construction loan. The 65% goal is anticipated to be reached next year, and, considering homes are continuing to steadily sell, that projected date seems to be right on target. Three of these luxury Buckhead condos sold in the last month alone.

The development will be located at the intersection of Peachtree Hills Avenue and Virginia Place, placing residents in the midst of Atlanta’s most popular fine dining establishments and upscale shopping destinations.

The economy has only slightly affected Peachtree Hills Place. Sales for these units began in 2006, and, in comparison to other communities, Peachtree Hills Place has done quite well with cancellation rates below industry standards.There are a few reasons for this – one is that even though the economy is suffering, baby boomers are actively planning for their future. As a community that caters to people aged 55 and better, Peachtree Hills Place is the solution for all of their future plans.

Another reason? Isakson Living has minimal leverage on Peachtree Hills Place. They paid down the existing loan, posted a deposit for the next year’s interest reserve and set aside sufficient operating funds for the project. To sum it up, they have ample equity and little debt, and are in the perfect position to begin construction.

So, keep your eyes peeled for more positive news regarding this upscale residential community.