New Braves Stadium - affect on home prices - have you seen any? (Atlanta: apartments, how much)

[evannole]

Originally Posted by Newsboy

Did I say it was fact?! NO! It was MY OPINION (or rather, the opinion of my aunt and uncle)



Well pardon poor pitiful me for getting one word wrong and being such an idiot. Obviously, I don't know nuthin' ...

I swear Cobb Countians are the most obnoxious people in all of Metro Atlanta.

Oh, give it a rest. I will tell you what's far more obnoxious: calling an entire group of people who have chosen to buy in this area "idiots."

[David1502]

The home values in my neighborhood in Smyrna have definitely gone up since the announcement of the Braves stadium. We are located about 2 and 1/2 miles from the stadium in the Atlanta Rd. corridor. Recently, we have had bidding wars when a home goes for sale which we have never seen before.

I think the big advantage that Sun Trust Park will provide is in the adjacent Battery Atlanta where many retailers like J. Crew, The Gap and Ann Taylor are in talks to locate there as well as new restaurants to the area. These new businesses will be open 365 days a year as opposed to the 81 days that the Braves have a home game. The retail will be a positive for real estate values.

Some of these retailers like The Gap and Ann Taylor used to have stores in Cumberland Mall several years ago, but decided that the mall at that time was not a good location and closed their stores. Now, however, they must think that the Cumberland area is good for their stores and want to locate there.

Most of the posters here are speaking of Sun Trust Park in terms of what impact that Tuner Field has had on the Summerhill area. However, STP will be completely different as it includes office, hotel, residential and retail. By contrast in the 50 years of sports teams in the Summerhill area - and this includes the years that the Falcons played at Atlanta Fulton County Stadium, no peripheral development has occurred. In fact, the numerous surface parking lots make the area near Turner Field look a little desolate.

[jsvh]

Yes, doing some development next to the stadium is a smart move. But there is no reason it would have any more positive effect than living near a mall. And that will be nowhere near enough to offset the negatives of the stadium. There are already 26 additional acres that will need to become surface parking.

But who knows. The real question is, is it worth the risk?

There are plenty of other locations that are more stable. Or other locations with more predictably beneficial developments happening.

[Mishap]

Originally Posted by David1502

The home values in my neighborhood in Smyrna have definitely gone up since the announcement of the Braves stadium. We are located about 2 and 1/2 miles from the stadium in the Atlanta Rd. corridor. Recently, we have had bidding wars when a home goes for sale which we have never seen before.

I think the big advantage that Sun Trust Park will provide is in the adjacent Battery Atlanta where many retailers like J. Crew, The Gap and Ann Taylor are in talks to locate there as well as new restaurants to the area. These new businesses will be open 365 days a year as opposed to the 81 days that the Braves have a home game. The retail will be a positive for real estate values.

Some of these retailers like The Gap and Ann Taylor used to have stores in Cumberland Mall several years ago, but decided that the mall at that time was not a good location and closed their stores. Now, however, they must think that the Cumberland area is good for their stores and want to locate there.

Most of the posters here are speaking of Sun Trust Park in terms of what impact that Tuner Field has had on the Summerhill area. However, STP will be completely different as it includes office, hotel, residential and retail. By contrast in the 50 years of sports teams in the Summerhill area - and this includes the years that the Falcons played at Atlanta Fulton County Stadium, no peripheral development has occurred. In fact, the numerous surface parking lots make the area near Turner Field look a little desolate.

"A rising tide lifts all boats." My parents' rental homes all more than doubled in value in the last 6 yrs but I wouldn't say any are in particularly good neighborhoods.

Cumberland with its ample parking and 365 day/yr availability wasn't busy enough to keep Gap afloat. Putting it in a baseball stadium with 81 events/yr when nobody is looking for a polo shirt will make it more attractive?

You seem to misunderstand what was there first. Turner Field is a sea of parking (albeit not enough for the Braves apparently) b/c of the stadium and not the other way around. It's b/c restaurants, shopping, and offices are challenged to survive in an environment when you are either setup for games or you try to build on the regular 9-5 business traffic. No one is going to buy an Ann Taylor Pantsuit while attending a game and to think people will suffer going there during the summer when there's the chance of a game is utter insanity. Desolate parking lots are the only business that can thrive around a stadium with unpredictable traffic patterns. That said, there are actually quite a few businesses including that lovely Ramada Plaza and Country Inn there. GSU and the downtown office towers are all 1 mile away (plenty of bridges here connecting folks) so I don't think Cumberland has an office space advantage.

Here's what Atlanta Fulton County Stadium looked like coming up. Neighboring houses and businesses all died off as a result of the stadium. All those folks driving to the game, clogging up streets spent quite a lot more time in the stadium than in the neighborhood outside shopping.
http://collections.atlantahistorycen...=600&width=600

[DexterGeorgia]

Originally Posted by evannole

To the original poster: from what I have seen, the greatest appreciation in the area right now seems to be a bit to the east of you, in the Atlanta Road corridor. Areas west of South Cobb are doing fine, but don't seem quite as hot as those further to the east.

Yes, Atlanta road is great for prices.

I'm 10.1 miles away from the stadium. The prices haven't really moved much - I'd say average to below average in price appreciation.

I'm considering selling in the next 1.5 years.

[cqholt]

Originally Posted by DexterGeorgia

I live on the East/West Connector in Smyrna, which is close and almost a direct drive from the new Braves stadium.
I was wondering if anyone has noticed an increase in home prices in the area due to the new Braves stadium.

Do you think the stadium and the related development will increase home prices?

Over the past year, in the area unfinished developments from the last down turn are being built on and new developments are being build so that is good news. However, the prices appear to be still depressed from the downturn.

The Braves organization and county leaders prefer if you rode your bike to the stadium.

[David1502]

Originally Posted by Mishap

"A rising tide lifts all boats." My parents' rental homes all more than doubled in value in the last 6 yrs but I wouldn't say any are in particularly good neighborhoods.

Cumberland with its ample parking and 365 day/yr availability wasn't busy enough to keep Gap afloat. Putting it in a baseball stadium with 81 events/yr when nobody is looking for a polo shirt will make it more attractive?

You seem to misunderstand what was there first. Turner Field is a sea of parking (albeit not enough for the Braves apparently) b/c of the stadium and not the other way around. It's b/c restaurants, shopping, and offices are challenged to survive in an environment when you are either setup for games or you try to build on the regular 9-5 business traffic. No one is going to buy an Ann Taylor Pantsuit while attending a game and to think people will suffer going there during the summer when there's the chance of a game is utter insanity. Desolate parking lots are the only business that can thrive around a stadium with unpredictable traffic patterns. That said, there are actually quite a few businesses including that lovely Ramada Plaza and Country Inn there. GSU and the downtown office towers are all 1 mile away (plenty of bridges here connecting folks) so I don't think Cumberland has an office space advantage.

Here's what Atlanta Fulton County Stadium looked like coming up. Neighboring houses and businesses all died off as a result of the stadium. All those folks driving to the game, clogging up streets spent quite a lot more time in the stadium than in the neighborhood outside shopping.
http://collections.atlantahistorycen...=600&width=600

To put things in perspective, The Gap, Ann Taylor and several other retailers left Cumberland Mall several years before the remodeling which took place which added Maggiano's, Stoney River and The Cheesecake Factory. This remodeling enabled Cumberland to transition from being the 1970's era mall into the shopping center which it is today with a booming Apple store, as well as Michael Kors among other newer retailers. Many can't remember how much Cumberland had gone down before the remodel. Macy's also has remodeled their store and added better brands than what they used to carry at Cumberland.

Ann Taylor relocated their store to Vinings Jubilee Shopping Center because they knew they still had customers in the area, but they weren't shopping at Cumberland Mall.

The Battery Atlanta will seek to attract the shoppers in the Smyrna/Vinings area as well as the larger geographic draw which the stadium will attract.

Also, you can't compare the neighborhoods around Turner Field to that around Sun Trust Park. There are many very affluent neighborhoods within a four mile radius to STP - these include Vinings, the far western part of Buckhead near Westminster and Lovett as well as the far western part of Sandy Springs off of Riverside Dr. and the Paper Mill Rd./Atlanta Country Club area of East Cobb. When it isn't baseball season, it will be a whole lot easier for these shoppers to visit shops at Battery Atlanta instead of dealing with the heavy congestion around Lenox Square an Perimeter. This will be especially true during the Christmas season when smaller non-mall shopping centers like Vinings Jubilee do a brisk business.

[arjay57]

Looks like it's full steam ahead.

When the Atlanta Braves announced they would relocate from downtown Atlanta to Cobb County, the team envisioned several hundred thousand square feet of restaurants and shops surrounding its new ballpark, SunTrust Park.

But two years later, those ambitions have grown into a 1.5 million square foot mixed-use city, with office tenants such as Comcast, an Omni Hotel and chef-driven restaurants.

More...Braves’ vision growing into Cobb mini-city

[cqholt]

Originally Posted by arjay57

Looks like it's full steam ahead.

Instead of a mini-city, shouldn't it be part of the existing urban fabric?

[arjay57]

Cumberland: Traffic Concerns Don't Slow Office Activity