Metro Atlanta is booming again? (suburban, tree, square)

[testa50]

Originally Posted by J2rescue

I'm not being negative but this is not "booming" as far I'm concerned other than a boom in apartment construction. Yes there is a lot of construction going on in the city at the moment for several reasons.

1)There is demand for intown housing and there were several years after the recession when there was virtually no new housing in the pipeline.
2)Its possible to get financing for rental buildings, especially in sub-markets such as Midtown and Buckhead, so that's what is being built for the most part.

Basically as someone said, Atlanta is growing again and the supply side is playing catch up with the demand for intown living.

A true boom in my opinion would include substantial job growth and though the local economy has improved, we are still below pre-recession job levels for the metro.

I'd say this is a fair and accurate description of what's going on right now. We are recovering pretty well, but not booming. Besides intown apartments, which are growing as fast as they ever have.

[ATLJR]

Here is a map of Atlanta developments:

Atlanta Development | A project by project display of Atlanta Development

I would definitely say construction is booming. Skyscrapers are not the metric on whether an area is "booming or not" - that era has passed.

[erick295]

There's a lot more than apartments going up right now... retail, museums, offices, condos, townhouses, cultural centers, medical facilities, university facilities, even transit expansion... you name it, it's either being built or about to be built. If this isn't a construction boom (which I assume the OP means), I don't know what is.

[avbanks]

Originally Posted by ATLJR

Here is a map of Atlanta developments:

Atlanta Development | A project by project display of Atlanta Development

I would definitely say construction is booming. Skyscrapers are not the metric on whether an area is "booming or not" - that era has passed.

That era has not passed... Skyscrapers are generally built later on during the economic cycle.. They'll probably get built when unemployment gets below 6 percent for Atl.

It's pretty amazing that at 8.7-8.9% unemployment Atlanta is 5th for construction development. I can't imagine what's in store for Atlanta when that rate gets below 6.

[Al G]

Originally Posted by erick295

There's a lot more than apartments going up right now... retail, museums, offices, condos, townhouses, cultural centers, medical facilities, university facilities, even transit expansion... you name it, it's either being built or about to be built. If this isn't a construction boom (which I assume the OP means), I don't know what is.

Yep! And don't forget traffic and more and more people.

[ATLJR]

Originally Posted by avbanks

That era has not passed... Skyscrapers are generally built later on during the economic cycle.. They'll probably get built when unemployment gets below 6 percent for Atl.

It's pretty amazing that at 8.7-8.9% unemployment Atlanta is 5th for construction development. I can't imagine what's in store for Atlanta when that rate gets below 6.

I'm not implying that skyscrapers won't be built, but the majority of companies no longer build skyscrapers as vanity projects in this day in age. People telecommute more than ever and many of the sectors of the economy that are growing and will grow in the future have workers who simply don't want to work in the environment that skyscrapers provide. Unique spaces like PCM will continue to trend as these companies attract talent. Some of Atlanta's office towers are being converted to other uses such as residential, because there's simply not a demand for that sort of office space.

[erick295]

Originally Posted by Al G

Yep! And don't forget traffic and more and more people.

Um, if you have something against people and traffic, you probably don't belong in a city.

[Al G]

Originally Posted by erick295

Um, if you have something against people and traffic, you probably don't belong in a city.

Oh I live in a city alright, but not an asphalt jungle. Where I live can be considered a 'lot' more liveable that your Atlanta. And way more cool.

[mocca25]

Originally Posted by mocca25

I have noticed that the pace of construction and development is starting to pick back up again all around the region. 2014 is projected to be a big year in Atl as major projects are complete and open.Ponce City Market, Buckhead Atlanta, Civil rights museum, College football hall of fame, and the new streetcar all open next year and will be game changers. I see a momentum going on. Is the pace of Atlanta's growth and boom starting to pick back up? Its exciting to see the city and metro area pick up speed post recession/economic recovery.

I was asking in reference to all of the projects that are under construction. I understand that it's not booming in terms of how it was pre-2007 and there aren't any skyscrapers going up like back then but you can't deny that construction has picked up recently.

[erick295]

Originally Posted by Al G

Oh I live in a city alright, but not an asphalt jungle. Where I live can be considered a 'lot' more liveable that your Atlanta. And way more cool.

I meant a big city, and if you see it as an "asphalt jungle" it looks like I was right.