Jack - you state that you "want to invest in a condo which has retail spaces and restaurants at the bottom level," in the mid-200's for a starter in the building, right? Is it worth investing? Only you can determine that - you've heard from others here that your criteria is more about a lifestyle choice that it is a financial investment, wouldn't you agree?
What is your investing experience up to this point in your financial history?
You ask "do condos like these build good equity??" I'll say no, and under the criteria that most professional real estate investors would use for "good equity" then I will say, no, absolutely not.
2 bedrooms always offer more options for a broader base of buyers, particularly when 2 bathrooms come along with them.
Midtown will become more dense, and density will increase demand. Supply will reach a pinnacle in a few years, but a long term hold for most Midtown condos is the only way to build equity - sweat equity in reasonable improvements and cash equity through paying down your debt.
Welcome to Midtown Atlanta where the players play, and a lot of broke folks own real estate.