Report: The Exurbs Are Building Again, With A Vengeance! (Atlanta: 2014, apartment complexes)

[LynnHarris]

"The Great Recession crippled but did not kill the "drive until you qualify" mindset in metro Atlanta, where home building is again going gangbusters in the exurbs..."

Full Story: Report: The Exurbs Are Building Again, With A Vengeance! - Sprawl Talk - Curbed Atlanta

[ATLTJL]

Looking closer intown, the Weissman of 2020 observes that "the urban apartment boom of the early part of the decade slowed as there were only so many tenants who could or would pay rents north of $2 per square foot," he writes. "Eventually, many newer apartments were converted to condominiums since it was again cheaper to own rather than to rent and everyone wanted to own their slice of urban city life while they could still afford it." A new market for larger condos sprouted, he predicts, because baby boomers wouldn't settle for the 800 square-foot former apartments.

Yes, yes, yes!!!!!!!

This guy is dead-on. People will realize intown rents are absolutely STUPID and demand bigger, better condos as they also realize 800 square foot apartment converts built like absolute GARBAGE aren't viable alternatives either.

Until that need is ultimately met, I suspect people will look to the suburbs for reasonable places to live. It's all pendulum, it swings back and forth.

I can tell you that all along McGinnis Ferry Road, bulldozers are once again moving and constructing new subdivisions where there was once only cleared land. I'm glad the Trust for Public Land snagged some Chattahoochee adjacent land a few years ago when the builder went bankrupt, or else that would surely be developing today! Anyway, construction is booming again, but I don't really consider this area an exurb.

[Ant131531]

Intown rents don't even come close to other cities in the country. People are clamoring to live in the expensive cities despite being expensive...how come people aren't clamoring to live in Atlanta and why is it that when rents even become somewhat competitive, people complain?

World class metropolises aren't cheap. That's why they're world class.

[netdragon]

Midtown apartments can be small due to the young demographics. In places like Cumberland, Smyrna and Sandy Springs, or even Buckhead, apartments will need to be bigger since they are competing with larger homes and even 20 year old condos that are bigger, and sometimes put up for rent.

Even though, Smyrna and Sandy Springs are in the top-5 for young people in the state, it's still young people looking for more elbow room than what midtown has to offer.

So, you build to what's appropriate for the market. Also, in the 'burbs, luxury apartments need to be anchored by mixed-use in the general area, since there isn't pre-existing mixed-use.

For instance, 800 sq foot apartment complexes in North Smyrna 30 years ago became slums. Franklin Rd as well.

However, if Jonquil Village were built as true mixed-use with 2 and 3br apartments, it'll do just fine.

[cqholt]

Originally Posted by ATLTJL

Yes, yes, yes!!!!!!!

This guy is dead-on. People will realize intown rents are absolutely STUPID and demand bigger, better condos as they also realize 800 square foot apartment converts built like absolute GARBAGE aren't viable alternatives either.

Until that need is ultimately met, I suspect people will look to the suburbs for reasonable places to live. It's all pendulum, it swings back and forth.

I can tell you that all along McGinnis Ferry Road, bulldozers are once again moving and constructing new subdivisions where there was once only cleared land. I'm glad the Trust for Public Land snagged some Chattahoochee adjacent land a few years ago when the builder went bankrupt, or else that would surely be developing today! Anyway, construction is booming again, but I don't really consider this area an exurb.

YES YES YES, keep moving farther out creating congestion and watch those housing prices drop.

[Ant131531]

Originally Posted by cqholt

YES YES YES, keep moving farther out creating congestion and watch those housing prices drop.

The suburbanites are cheering loud and happy beating their chests because Atlanta is sprawling again! And then they wonder why there's 10 reports each year saying Atlanta is the sprawliest metro in this country and why it won't stop.

[red92s]

Originally Posted by Ant131531

People are clamoring to live in the expensive cities despite being expensive

Ehhhh....

Millennials consider leaving Washington as the city becomes more costly - The Washington Post

[ATLTJL]

World class metropolises aren't cheap. That's why they're world class.

But they are usually world class BEFORE they charge ridiculous rents. It doesn't work the other way around. And there are plenty of cheap places in the metropolis, just not in the urban core.

keep moving farther out creating congestion and watch those housing prices drop.

I think they other point made about areas like Johns Creek, Milton, etc. densifying is also spot on. You'll see these areas redevelop and become more like Perimeter center, so people won't have to go as far as you think. There will always be people who do want to go way out there, though.

[netdragon]

The original articles:
1. Housing rebound renews exurbs

2. Predicting Atlanta's 2020 housing market - Atlanta Business Chronicle

[netdragon]

Originally Posted by Ant131531

The suburbanites are cheering loud and happy beating their chests because Atlanta is sprawling again!

What are you talking about?

You don't actually believe this, do you?

Btw, fyi, the northern suburbs like Smyrna and Sandy Springs are fully built out and densifying. This is about exurban development they are talking about.