Historic Fulton Supply Goes Multifamily
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The owner of the Fulton Supply Co is again moving forward with plans to turn the historic distribution center into rental loft apartments that'll double as a walk-through of Castleberry Hill's history.
Fulton Supply's Joel Roth tells us permits were just filed to begin work on Fulton Supply Lofts, a planned 74-unit apartment complex in Castleberry Hill at 342 Nelson St, just two blocks south of the Georgia Dome and just off Mitchell Street. Joel says the $12M project, a revamp of pre-recession plans first forwarded in 2008, is ripe given the amount of capital flooding into the area in recent years via projects like the new Falcons stadium development and the Center for Civil and Human Rights. That area of Castleberry Hill has become a very hot art district with over 20 galleries too, he says, and there are tax credits available to offset costs.
Units will average 1k SF, and rent from $1/SF to more than $1.50/SF. Galleries of historic Castleberry Hill pictures will be incorporated into the former red light district in the 1800s, and highlight films the building itself was featured in like Driving Miss Daisy. Bonus: artifacts from the 1920s that will be incorporated into the units themselves, says Joel. Construction is slated to start early next year with delivery by 2016.