The luxury garage condo concept has grown and expanded from the desire among car collectors and enthusiasts to not only have a place to store their vehicles, but to show them off and socialize with others who share their passion.
Stables Motor Condos just such a place. This project is currently in pre-development in Alpharetta and is expected to break-ground later this year on the 25-acre property. Phase one of the garage condos will house 46 units and a Retail Village incorporated into the front 9-acres to include restaurants and automotive focused retail.
“As the Developer, we can’t seem to break-ground and build the facility fast enough. Atlanta has a huge car community and we’ve discovered that luxury car storage is in dire need — car guys have told us that not having adequate, secure, climate control storage space is the one thing that puts the brakes on their car collecting hobby,” said Jeff Beal, Co-Founder & Managing Partner with Stables Motor Condos.
Beal said, “the most interesting feature of the garage condo concept is that you’re actually purchasing your unit and the facility is designed much like a country club where you can hang out with other like-minded enthusiasts. Buyers own a portion of Stables Motor Condos’ common areas and have access to an on-site club lounge overlooking the 6.5-acre nature preserve.”
Security cameras monitor the gated development and there will be an 8-foot-high perimeter fence, plus 50-foot drive aisles make it easy to maneuver motor homes. Amenities include a wash bay for vehicles, beer garden, fire pit, BBQ Grill and nature preserve with walking trails.
The private garages at Stables Motor Condos start at $129,855 and are offered in four sizes ranging from 787 square feet to 2,200 square feet. Units have 14’x14’ insulated garage doors, mezzanine and 26-foot-high ceilings. Other standard features include HVAC, general lighting, plumbing stubbed, painted drywall, insulated walls, pre-wired for internet, cable and interior security cameras, as well as 100-amp electrical outlets in each unit. Like a residential condominium, the garages come with deeds, property taxes, utility bills and monthly homeowner fees.
“Buying a garage condo can be a cheaper alternative than building on your own property,” said Chad Lagomarsino, Principal Partner of SMC and Sr. Vice-President with Destination Development Partners. “Wives are a driving force for the garage condo market because they want to have their home garages back,” Lagomarsino said.
“We’ve determined from our market research on other similar developments around the country, that garage condos can also appreciate in value while avoiding the rent increases common of traditional storage facilities,” said Lagomarsino. “Plus there will always be a resale market.”
We have buyers with varying degrees of hobbies and they own a mix of toys. The most unique items to be stored once the development opens is from one personal collection to include of two cigarette boats, an assortment of cars and motorcycles.
“Before starting down the road on this project, we met with and called dozens of garage condo developers to get their feedback. Overwhelmingly we were told that this type of storage development is a good investment, both for the developer and for the owners of the condos,” Beal said.
“Stables Motor Condos has seen strong interest; almost half of the 46 units in phase 1 are pre-sold; with 147 total garages planned in three phases. The facility will be located on McFarland Parkway, 1-mile west of GA400. Sales started about eight months ago and most buyers are car collectors living within a 10-mile radius,” Beal said.
Beal said “all of the owners with reservations have already requested to work with our architect and designed team to customize their units to include tool boxes & shelves, full size bathrooms, built-in bars and wall coverings like a brick façade. Plus to ensure side walls can be used to hang their car memorabilia.”
“Owning a private garage is a lifestyle decision because it effectively solves your car storage needs. Plus, ownership at Stables Motor Condos is the total package – it includes exclusive access to the owner’s lounge, VIP receptions, car club events, car shows, rallies, concierge services and an HOA controlled by the owners,” Beal said. “We’re excited to create an actual car community in North Metro Atlanta.”
For more information on Stables Motor Condos, contact us today.