By BUILDER Magazine Staff. Targeting move-up and move-down buyers near Atlanta's venerable Emory University, McRae & Stolz found that small could be huge. To sell units in its $32 million multifamily community, The Clifton, the builder/developer team set up a sales command post in a retail center for maximum pedestrian exposure.
The cozy, 550-square-foot sales office sits among small restaurants, cafes, and boutiques frequented by the company's target market. The neighborhood of shops is across from the law school campus and medical facility and hospital of Emory University, which is Atlanta's fourth largest employer, with 14,000 full-time staff--perfect prospects for the 78 move-up units.
Located in one of greater Atlanta's oldest neighborhoods, The Clifton is nestled among European-style homes and turn-of-the-20th-century traditional Southern homes. When complete, the project will resemble a large English Manor house.
To market the four-story mid-rise, the building and marketing team created a traditional residential mood for the sales office. "This market relates to luxury design and rich interiors," says McRae & Stolz principal, Will Stolz. "So we used paneling, traditional furnishings, windows, and flooring, and even a fireplace that you would find in a local residence. And it's all very understated."
At opening, The Clifton sold 30 homes in the first two weeks, with an average of five sales per month thereafter. The average sales price hit in the high $400s and $500s.
Program: Small off-site sales office; Builder/Developer: McRae & Stolz, Atlanta; Price: $280,000 to $700,000-plus; Marketing agency/Sales: Coldwell Banker--The Condo Store, Atlanta; Ad agency: Idea Associates, Atlanta