Poncey Highland
{ Wednesday, December 7th, 2011 }
Josh Lindenbaum, Curbed Atlanta
If you haven’t visited Curbed Atlanta yet, you should do so immediately. Once you’ve spent a minute or two taking it in, you should bookmark it. Return and read often- you’ll be smarter for it.
Clearly, I like this website. So I was absolutely thrilled that its Editor, Josh Lindenbaum, took a few minutes to share some advice for the mayor, Atlanta dining tips, and real estate crystal ball reading…
Q. Crystal ball time- ten years from now, the most dramatically changed neighborhood in Atlanta will be…
A. Poncey-Highland / Old 4th Ward. Between The Beltline (and the private investment that’s already tracking it there) and the Atlanta Steetcar, huge transformation is under way.
Q. Mayor for the day- what’s on the agenda?
A. Expend significant political capital pressing for T-SPLOST to be passed. Buy 50% of the surface parking lots in the Midtown-downtown corridor and redevelop them into parks ringed with space for pocket retail and food/beverage businesses. Find some money to jump start local entrepreneurship in the downtown corridor, with Underground Atlanta converted into a new art & (local) restaurant district as the focal point. Convene a meeting with leaders from around the state and make a killer-app presentation illustrating in clear terms, once and for all, that what is good for Atlanta is truly good for the entire state.
Q. One day to eat your way through Atlanta- where are you going, and what are you ordering?
A. Jalapeno & bacon biscuit at Empire State South. Handmade marshmallow at Cacao. The Duck Mi sandwich at Muss & Turners. A cappuccino at Octane. Wild boar prosciutto at Star Provisions. Eggplant fries at Rathbun’s. Frisee Aux Lardons salad at Bistro Niko. Something with foie gras at Bacchanalia. Vegetable plate at Restaurant Eugene. Pommes frites at Leon’s Full Service. A salad selection from Metro Fresh. Pizza Diavola at Antico. Slice of Red Velvet cake from Piece of Cake. French press of Dancing Goats coffee from Batdorf Bronson. If I didn’t keel over, all to be followed by 48 straight hours of water and exercise.
Q. Favorite neighborhoods?
A. Virginia Highland, Candler Park, Garden Hills.
Q. What’s Curbed Atlanta, and why is it a “must read”?
A. Curbed Atlanta is an electronic magazine that combines information and commentary about Atlanta real estate, neighborhoods, architecture and the trends (economic, demographic, social) that affect these subjects areas on a macro scale. Taken together and presented in our editorial voice, we believe the site provides an easily-digested snapshot of Atlanta that’s a valuable resource folks working in the Atlanta real estate industries, as well as any businessperson operating in the Atlanta area. We also strive to be an essential daily read for generally curious Atlantans.
{ Thursday, December 1st, 2011 }
Atlanta Public Schools Redistricting
If APS Superintendent Erroll Davis thought his phone rang a lot before, he has know idea what he's in for...
Hold on to your hat Atlanta. Things are about to get crazy.
On the heels of the cheating scandal that’s rocked the nation, City of Atlanta Public Schools announced earlier this week that they’ve begun to study citywide school redistricting.
Deep breaths. Don’t get too crazy. Yet.
From the horse’s mouth, here’s how APS introduced their initial report:
APS is in the beginning stages of an arduous undertaking and we need input from the community. No decisions have been made about the scenarios/options posted. In fact, the process will take place over the next few months and will conclude in March of next year.
See, everything is going to be ok!
Maybe, maybe not. There’s no bigger NIMBY issue than schools, and the public hearings on this issue are going to be B-A-N-A-N-A-S. I’m still pouring through the study maps and options- haven’t jumped to any conclusions yet, although it’s looking like some very familiar intown neighborhoods could potentially see some fairly dramatic changes.
Like I said, deep breaths people. Deep breaths.
The Relevant Linkage
APS Demographic Study Home Page
APS Capacity Study (essential background information)
APS Scenarios and Options Summary (aka the meat and potatoes)
Option Maps (aka the meat and potatoes in color coded maps)
{ Thursday, October 6th, 2011 }
Connie Veates and Greg Levine, Co-Executive Directors of Trees Atlanta
I am a huge fan of Trees Atlanta. Since 1985, they’ve been passionate advocates for trees, a mission made all the more critical by Atlanta’s explosive growth. On Saturday, October 8 they’ll be holding their Annual Tree Sale, a phenomenal chance to learn more about the organization and support them at the same time. A few minutes with Co-Executive Directors Connie Veates and Greg Levine, and you’ll have a better idea of how much Trees Atlanta means to the city…
Q. What are Trees Atlanta’s greatest accomplishments?
A. We are very proud that in the past 26 years Trees Atlanta has planted over 81,000 trees, cared for more than 100,000 trees, and educated an average of 2,000 adults and children annually about the importance of urban trees and how to plant and properly care for them. Additionally, we occupy one of Georgia’s few platinum LEED certified buildings, the Trees Atlanta Kendeda Center, in Reynoldstown. And, we are so very fortunate to have the support of our 4,500 volunteers who help us plant and maintain trees.
Q. Why are trees important to Atlanta?
A. Trees help ensure that our air and water stay clean; they reduce the heat island effect, produce a habitat to protect wildlife, and aid in global cooling for the roads and sidewalks that we use. Also, trees are aesthetically pleasing – people are naturally attracted to the beauty of trees. And, specifically for Atlanta, trees help us preserve our identity as the “city within the trees”.
Q. A fairy godmother grants you an unlimited budget to fulfill your mandate: what would Atlanta’s transformation look like?
A. Wow, we love this question – as a non-profit we are never faced with an unlimited budget! However, since a fairy godmother is involved, it is easy to imagine our hot city being cooled by large urban shade trees. Parking lots would not be blank canvases of pavement, but would be shielded by large canopy trees. There would be ongoing tree care for all urban trees and all building and development would include the planting of trees in their plans upfront. Finally, the public would take pride in the fact that our city understands the importance of trees and does the necessary work to preserve them.
Q. Favorite Atlanta neighborhoods?
A. Greg’s favorite neighborhood is Poncey Highland where he lives. In fact, he moved there because it is a walkable neighborhood with lots of trees. Connie’s favorite is West End because they’ve been so involved in tree planting – their neighborhood leaders truly love the trees.
Q. What is Trees Atlanta 12th Annual Tree Sale Festival?
A. On this Saturday, October 8th from 8:00AM – 2:00PM (rain or shine), Trees Atlanta will hold a tree sale at our facility at 225 Chester Avenue, SE. We will offer more than 1,000 trees, as well as shrubs and tree-friendly vines. We’ll also have bluegrass music from Smokey’s Farmland Band, beverages by Honest Tea, a small lamb petting zoo, tree planting and care demos by local tree experts, and a dynamic speaker. It will be a TREE-mendous event, so we hope that everyone comes!
{ Monday, September 12th, 2011 }
Intown Atlanta Population Surge?
While I spent much of last week on the Decatur bandwagon, I should point out that Decatur’s schools aren’t the only ones that are busting at the seems. Midtown Patch points out that Grady High School is also at the breaking point:
A drawback at Grady: The school that borders Piedmont Park currently has 1,524 students, compared to 1,432 one year ago — and one year ago was already seriously overcrowded. (The Grady campus was expanded several years ago to accommodate about 1,200 students. In 2005, there were 996 enrolled, compared to 1,146 in 2006 and 1,264 by 2009).
For those of you scoring at home, that’s a 25% increase in the last five years. I’m not a demographer (nor do I play one on television), nor am I trend forecaster, but I’d imagine there are a few threads at play here:
- The neighborhoods served by the school, including Ansley Park, Candler Park, East Lake, Inman Park, Kirkwood, Lake Claire, Old Fourth Ward, Midtown, Morningside, Poncey Highland and Virginia Highland continue to experience infill development, albeit at a much slower clip now that we’re post-boom.
- A slumping economy and rising private school tuition have forced some parents to enroll their children in public schools rather then private ones.
- Negative home equity has, in effect, “trapped” many homeowners in their existing homes. It’s a pretty common theme throughout the country to see homeowners “sticking around” in a home that they hadn’t planned on living in for such a long duration. Put simply, our migration patterns are all gummed up.
The net-net is further evidence that Atlanta’s notorious sprawl has turned inward. This isn’t breaking news by any stretch, but it’s certainly worth keeping an eye on as the region attempts to curb sprawl and promote density. Exciting and terrifying at the same time depending on the vision and political will of Atlanta’s civic and business elite.
Photo Credit: Architecture Tourist (an outstanding piece on Grady High School’s architecture, I might add).
{ Thursday, July 14th, 2011 }
Poncey Highland Real Estate Update
The iconic Manuel's Tavern mural, a Poncey Highland landmark.
Poncey Highland is perhaps the most overlooked of the intown Atlanta neighborhoods. Despite being under appreciated it’s poised to make waves. The makings are there: real estate values to the North (Virginia Highland) and the South (Inman Park) are traditionally higher, a burgeoning retail/restaurant scene that’s home to not one but two Top Chef alums, and it’s zoned for the popular Springdale Park Elementary School. Of course, it also has its share of challenges: neighboring Ponce de Leon Avenue (not exactly a negative, but definitely a set back) and a reputation for being a haven for rental properties. But two current projects might change everything.
If the redevelopment of City Hall East- known henceforth as Ponce City Market- go according to plans, the neighborhood has a game changer on its hands. It’s not often that a two million square foot redevelopment project is announced, and Poncey Highland’s adjacency to the project makes this neighborhood one to watch. The developer is dropping $180 million on redeveloping the project, which will bring upscale office space, a Pikes Place type market and other high-end amenities to the neighborhood.
Project #2 is the completion of the Northeast Trail of the Atlanta BeltLine. This 3.5 mile stretch cuts through Poncey Highland, connecting residents with more than just a quaint little jogging path. One of the knocks on the neighborhood has always been basic geography: it’s isolated by two major roads (the aforementioned Ponce de Leon, and Freedom Parkway). With the completion of the Northeast Trail, residents will no longer be as dependent on their cars, with an opportunity to walk to destinations including Piedmont Park, Midtown Arts Cinema, Old Fourth Ward Park, Dad’s Garage Theatre and more restaurants and shops than I could possibly begin to list. Another huge score for the neighborhood.
With the future of Poncey Highland in mind, let’s take a quick peak at Q1 and Q2 sales in the neighborhood over the last five years:
YEAR # of Sales Avg. Sales Price Avg. Days On Mkt Avg. SP/LP
2007 7 $453,986 35 91%
2008 2 $423,500 48 94%
2009 5 $394,260 58 91%
2010 3 $454,667 40 90%
2011 7 $413,857 41 94%
Not a huge sample size to work with- this impact results from disproportionately fewer transactions in recent years, as well as years where one particular house outsells the market significantly (a house in 2010 sold for $730,000, which really skews the numbers). Interesting factors to note:
1. 2011 is the best year since 2007 for total transactions.
2. Average sales price fluctuates pretty wildly, but we’ve seen about 10% depreciation since the first half of 2007.
3. Days On Market also varies, but it appears that inventory isn’t sitting for as long as it did during the gloomy days of 2008 and 2009.
4. Average Sales Price to List Price is improving… although one year of data is certainly not a trend.
Keep an eye on Poncey Highland as the aforementioned projects begin to take hold. As the intown Atlanta Real Estate market begins to make its ascent from the bottom, it might very well be the next big thing.
The Relevant Linkage
Browse Real Estate For Sale In Poncey Highland
Contact Me About Buying or Selling Real Estate in Poncey Highland
*Source FMLS. SP= Sales Price, LP= Original List Price
*Image Credit: Flickr/ReadyMade Magazine
