Condo market in Smyrna the hottest EVER (Atlanta, Vinings: sales, 2014)

[netdragon]

Check these graphics out (from Smyrnavinings.com)

Maybe there's a chance now that Jonquil Village can be condos and not apartments.


More sales than ever:



Equity sellers and new construction coming on line causing increased listings:



Despite an increase in listings, months of inventory barely effected and still heavily a seller's market:

[No2Monsanto]

I lived in The Park at Vinings apartments in Smyrna back in 2005/2006, when Smyrna/Vinings was more affordable. Now, it's just SHOT to popularity in a such a short time, by the time I move back home to Atlanta I won't even be able to afford to rent, let alone buy. No wait, I probably can't afford it now. The inventory is shrinking too, either way you go.

[netdragon]

There will be affordable properties in the very North end of Smyrna for at least another 5 years.

[No2Monsanto]

Originally Posted by netdragon

There will be affordable properties in the very North end of Smyrna for at least another 5 years.

And what exactly is considered the North End?

[netdragon]

Originally Posted by No2Monsanto

And what exactly is considered the North End?

North of Windy Hill, except maybe around Atlanta Rd, which is already becoming expensive North of Windy Hill.

[DawgPark]

Originally Posted by netdragon

Maybe there's a chance now that Jonquil Village can be condos and not apartments.

Was told recently it will be apartments and retail, but the apartments will be higher end like the new ones being built at Belmont.

Halpern should be submitting their development plan within the next 30 days and I expect it will receive approval from the Smyrna City Council.

[netdragon]

Originally Posted by DawgPark

Was told recently it will be apartments and retail, but the apartments will be higher end like the new ones being built at Belmont.

Halpern should be submitting their development plan within the next 30 days and I expect it will receive approval from the Smyrna City Council.

I personally was fine with what Halpern did at Windy Hill because it was Windy Hill. I would fight it where Jonquil Village is.

Halpern cannot do what they did at Belmont Hills and have it approved, which was mixed-use in name only (they broke up the uses into different tracts, and the row-house portion and apartments are even gated). If Halpern tries to do what they did at Belmont Hills, which is essentially what Branch tried to do in Belmont Hills. Branch eventually even acquiesced a little and added some shop and restaurant space below the units, and it was still fought.

It needs to be integrated mixed-use. It has to be as nice as Ivy Walk or West Village, at minimum. Their best bet would just be to do what's necessary to keep it approved for the TAD money and then it won't be fought and it'll be approved. If they try to get creative, they are going to get beaten down like Branch did.

Belmont Hills is the edge of the high-value market, and only a gateway for Smyrna for people that are typically driving the other way (East to West or vice-versa) anyway. This is smack-dab in the center of the high-value part of downtown, with some homes close to $1 million and an extremely high density area, kitty-corner to Forest Hills and Market Village. It is a gateway from the stadium, and the most visible part of Smyrna you could possibly build something in. This is an area most people exploring Smyrna will go by.

Additionally, unless it has some condos or a clear timeline for condo conversions that is written in stone, it's gonna be fought.

I think I'm going to call them tomorrow to find out what they are planning and make sure they know the reality of that parcel (which they should, if they bought it). I'm also going to call my councilman.

[DawgPark]

Originally Posted by netdragon

I think I'm going to call them tomorrow to find out what they are planning and make sure they know the reality of that parcel (which they should, if they bought it). I'm also going to call my councilman.

I've spoken to a Smyrna city councilman about Jonquil within the last 2 weeks. He seemed to think things changed strongly for the good of Smyrna when ownership switched from Branch to Halpern.

Halpern's ownership, combined w/ the Zaxby's across the street, and the resolution of a dispute re: the front corner lot of Jonquil . . . and the fact that City of Smyrna still owns 2 acres of Jonquil . . . all led this councilman (who I know and like BTW) to be very optimistic as to the future of Jonquil.

[netdragon]

You were making me feel relieved until you added the Zaxby's into the discussion. Now I'm worried again. Most people were happy to see an abandoned gas station turned used-car lot torn down. I was hoping for something much better than a Zaxby's, though :-)

I really hope the exercise we went through with Branch educated the council enough from peoples' concerns/complaints that Halpern will get everything right, or just sit on it a bit longer if the numbers don't add up yet. I think Branch was close with their last proposal, but just not quite there.

Let's face it: Probably 4 of 5 storefronts will be restaurants, and most of the rest will be boutiques. Any large storefronts will probably be family-oriented if they can't get an organic grocer there. That is Halpern's constraints for designing the development. The Zaxby's, at least, is adding to the definition of the area as a dining location, even if it is a chain.

[netdragon]

Originally Posted by DawgPark

and the resolution of a dispute re: the front corner lot of Jonquil

Oh wow, what's the news on the front corner lot?