Real Estate | Velocity in the Gulch

    The Velocity in the Gulch is prime location for Urban and luxurious living. Although in a prime location close to great food, downtown and music row, the condos have not done as well as projected. Just like the Fifth and Main condos sold last week, the second condominium building is set to be bought this week.  An Atlanta-based real estate investor is set to purchase the struggling Gulch condo building, Velocity, later this week.

    The condos are set to close this week by Pollack Partners, a group that specializes in apartments and mixed-use developments.  While the Fifth and Main condos will remain condos, Pollack Partners plan to convert the 223 unsold units into apartments.  Only about 40 units have been sold since deeded the project’s unsold units back to the lender, Compass Bank, back in July.

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