Intown Atlanta Apartment Explosion!

Jon Real Estate Leave a Comment

The Intown Atlanta apartment market is ramping up to warp drive.  Two very recent snapshots of site work at Bohemian House and AMLI at Ponce Park, both of which will overlook the beautiful Historic Fourth Ward Park:

 

A quick look at recently announced developments in the the submarket (Inman Park/Old Fourth Ward, along the Atlanta BeltLine Eastside Trail):

Development                                                                                  Proposed # Of Apartment Units

AMLI at Ponce Park                                                                                            305

The Bohemian                                                                                                       276

280 Elizabeth Street                                                                                            200

Ponce City Market                                                                                                200

99 Krog St. (former Tyler Perry Studios)                                                          50

Perennial Project Next To The Masquerade                                                   228

TOTAL PROPOSED UNITS                                                                    1259

Obviously, these projects aren’t all slated to come online overnight… but 1259 new apartments within a one mile radius is pretty signficant.  When it comes to density, it’s my opinion that the positives outweigh the negatives, despite the fact that many of the streets in this area will begin to clog fairly regularly.  While I may not be Adam Smith, I can’t help but wonder if this apartment submarket market can sustain this type of growth without a downward impact on pricing.  It’s a pretty, pretty, pretty interesting story unfolding… one of many that will rise to the surface as Ponce City Market transitions from dream to reality.

Of course, you could just ignore it entirely and buy a house, condo, or townhome.  That, I could help you with…

Source: AMLI, The Bohemian, 280 Elizabeth, Perennial Project: Atlanta Business Chronicle.  Ponce City Market: approximate number given on tour.  99 Krog: Inman Park Advocator

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