Authentic Live/Work Loft Community in Atlanta’s Old Fourth Ward
Over 80% Sold
ATLANTA – March 23, 2010 – Studioplex, the live/work community in Atlanta’s historic Old Fourth Ward, today announced that it will offer an unprecedented 0% financing* for its remaining homes under contract by April 30, 2010*. Prices start in the $140s, with features that include 12 – 18’ ceilings, exposed brick walls, poured concrete floors and stainless steel appliances.
Applicants for the program at Studioplex can move from mortgage application to approval in as little as seven business days.
“Studioplex is in the fortunate position to be able to offer this unheard-of 0% financing for the first year of a three year mortgage,” said Dillon Baynes, managing partner of Studioplex. “For years two and three, the mortgage rate will increase to 2.9%, which is well below the current market rate*.
“With the spring selling season quickly approaching, we want to let buyers know that Studioplex should be first on their list,” noted Baynes.
First-time homebuyers may qualify for an additional $8,000 credit on their taxes, where other buyers may qualify for a tax credit of up to $6,500. (Contracts must close by June 30.)
Studioplex offers a vibrant and unique community where you can walk to nearby shops and restaurants and you are only minutes away from downtown, Interstate 85 and Hartsfield-Jackson Atlanta International Airport.
“The explosion of retail and restaurants in the area – from Edgewood Avenue to Irwin Street and Auburn Avenue in the Old Fourth Ward and on to N. Highland – makes Studioplex an incredible opportunity in Atlanta’s hottest retail, restaurant and residential district,” added Baynes.
This special financing opportunity is exclusively offered through Studioplex and is subject to certain terms and conditions*. For more information, contact June Obondo, the on-site sales agent, at (404) 733-6000 or firstname.lastname@example.org
Studioplex, located at 659 Auburn Avenue in Atlanta’s historic Old Fourth Ward, features 130 live/work lofts as well as 9,100 sq. ft. retail space in the Pavilion at Studioplex. Sales Center hours: Wednesday - Saturday: 11-5; and Sunday: 1-5. Email: email@example.com
. Studioplex is developed by three partners: The Historic District Development Corporation (HDDC); Columbia Residential and Orinda Corporation. Studioplex website: www.studioplexlofts.com
About the No Interest Program
*Terms and Conditions Apply. First year of 0%, and second and third year rate of 2.9% have an APR of 2.75%. This product must be paid off or refinanced at 36 months or it will float to WSJ Prime + 1.75%. Credit score, work history, and income documentation will affect decisions on terms to be offered, if any. Not all borrowers will qualify. No broker fee; one point origination fee. No PMI.
Adjustable-Rate Mortgage: The payment on a 30-year Am $175,000 3-year Adjustable-Rate Loan at 0%/2.9%/2.9% and 96.5% loan-to-value (LTV) is $473.79 (1st year) and $709.94 (2nd and 3rd) with 1 point due at closing. Payment does not include taxes and insurance. The Annual Percentage Rate (APR) is 2.75%. Rates are fixed during the three year term.