Thursday, March 22, 2007

Green Condo to Rise in the ATL reports that Lily Development will break ground this summer on Aquarius Tower, a 122-unit, 38-story condo tower at Ivan Illen and Luckie. They have reached approximately 45% presales, which is around a common threshold for lenders to fund vertical construction of condo buildings these days.

Prices will range from $300,000 to $900,000 for most of the units ($350 to $430 per square foot).

Designed by PFVS Architects, Inc., the 240,000-sf tower will be the first condominium project in Georgia to incorporate solar and wind energy into its design. The rooftop solar panels will harness the power of the sun and the wind turbines will channel high winds into usable energy. The tower will have other sustainable features, such as the use of recycled building materials and thermally efficient products. Escandari says he decided to incorporate green features mainly for philosophical reasons. “It’s costly, but we’re finding ways to do it,” [ Lily Development president Antonio Escandari] says.

No comments: