The Pencil Lofts were one of the many construction projects being built around Atlanta just when the real estate market fell off a cliff.  And while it may be just one of many such projects, the future of this project has been particularly interesting, since it sits in a slot along Decatur Street in downtown Atlanta with many, MANY different influences in each direction.

To the east: the King Memorial MARTA Station.  To the west: Georgia State.  Across the street to the north, the old location of the Grady Homes, still under construction.  To the south, Memorial Drive.

As a result, it’s been interesting to observe the ongoing fate of this late-to-the-party, mixed-use project.  And though it’s hard to determine the current residential occupancy rate, two of the properties’ commercial locations were just recently occupied, with an Intown Market and a hair salon.

The Lofts finally seemed to be showing signs that it might be able to hold its own in a very transitional area.  Then last night, this happened…

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