Why hasn't the apartment boom hit downtown? (Atlanta, Auburn: 2013, dorm)

[BlackAttack30314]

These apartments will probably be too expensive for me. Too expensive for most folks. Don't see why we keep doing it.

[Ant131531]

They will only be expensive if there's a demand for it. A lot of the apartments in downtown that are there now aren't even that expensive in my opinion. Can't you get a 1 bedroom at the Healey for like 1.4k a month if even that?

[gerrythesnake]

Still wondering why no new apartments are not coming to downtown.

Downtown has the best stadium in the world coming in a couple of years, Centennial Park, several Marta stops, concerts/etc, streetcar, etc.

[jsvh]

Originally Posted by gerrythesnake

Still wondering why no new apartments are not coming to downtown.

Downtown has the best stadium in the world coming in a couple of years, Centennial Park, several Marta stops, concerts/etc, streetcar, etc.

Stadiums don't necessarily attract people to live in a place.

I think the problem with downtown is actually cars from elsewhere. To build something in downtown more profitable than a surface pay-lot in you have to be able to get rents above $2 a sq ft. People coming to park for major events keep these lots profitable where they don't want to sell to developers.

But I think we are on the edge of a tipping point for downtown. And once we reach that threshold construction will explode.

[BroadStJudge]

Originally Posted by gerrythesnake

Still wondering why no new apartments are not coming to downtown.

Downtown has the best stadium in the world coming in a couple of years, Centennial Park, several Marta stops, concerts/etc, streetcar, etc.

I have been told by a developer that no banks will lend money for development in downtown, especially south downtown. Supposedly, there are a few projects only waiting on funding to start development of more residential downtown. Perhaps the Asian investors that are buying up buildings downtown will provide the funding.

[gerrythesnake]

I'm going to step out and say that the Centennial Park area has more energy than Midtown (not including Atlantic Station)


Downtown:
Ga Dome (Football/Concerts)
Phillips Arena (Basketball/Concerts/etc)
GWCC
Centennial Park (Concerts/events/etc)
Streetcar (Plus you can take the streetcar to Edgewood to party)
Several Marta stops
Megabus
Walkable
Fairlie Poplar


Midtown:
Piedmont Park
Atlantic Station
Restaurants/bars/nightclubs/etc
Walkable
Several Marta Stops
Eastside Trail

[gerrythesnake]

Originally Posted by BroadStJudge

I have been told by a developer that no banks will lend money for development in downtown, especially south downtown. Supposedly, there are a few projects only waiting on funding to start development of more residential downtown. Perhaps the Asian investors that are buying up buildings downtown will provide the funding.

I'm not talking about that area. I'm talking about the Centennial Park area.

I think people would move into high rise apartments in the area south of downtown but they can't charge what Midtown is charging in rent. It will be for people that can't afford Midtown, West Midtown, Inman Park, etc but still want to live in the city.

[gerrythesnake]

Originally Posted by jsvh

Stadiums don't necessarily attract people to live in a place.

I think the problem with downtown is actually cars from elsewhere. To build something in downtown more profitable than a surface pay-lot in you have to be able to get rents above $2 a sq ft. People coming to park for major events keep these lots profitable where they don't want to sell to developers.

But I think we are on the edge of a tipping point for downtown. And once we reach that threshold construction will explode.

I don't know about that.

[Iconographer]

Create a desirable place to live and people will come.
Words like value, safety, convenience and amenities come to mind. Simply choose which ones are missing.

[gerrythesnake]

Originally Posted by LovinDecatur

Create a desirable place to live and people will come.
Words like value, safety, convenience and amenities come to mind. Simply choose which ones are missing.

That part of downtown Is are already at that point