Is Cobb County Rife with Millennial Discrimination? (Atlanta: sales, apartments)

[Ant131531]

Originally Posted by Cameron H

Ya think?

Will Atlanta Drown in Wave of New Apartments? - real estate predictions - Curbed Atlanta

That article is 2 years old and the apartment market has grown even stronger since then especially since we're experiencing some pretty great sustained job growth(some of the highest in the country). Predictions had this wave of apartment development peaking next year before a slight downward trend in 2017. Regardless, as long as job growth remains very strong, people will continue to move to Atlanta and apartment will continue to be built to house workers.

[cqholt]

Downtown Atlanta has transit, bikeability, walkability, density, and greenspace. All things Cumberland are lacking.

[Cameron H]

Originally Posted by Ant131531

That article is 2 years old and the apartment market has grown even stronger since then especially since we're experiencing some pretty great sustained job growth(some of the highest in the country).

Yes; the headline was sensationalized nonsense even two years ago. I see a pattern.

[sedimenjerry]

Oh good grief...

[ericsonga]

I don't think what Cobb is doing is necessarily bad. We are not discussing an area that has no options for rental housing. The spot where this is proposed probably has 2-3 dozen large apartment complexes within a one mile radius, if not more. Apartment complexes in Atlanta, especially the suburbs, do not tend to age well. Let's all cast a glance over at Gwinnett and specifically Gwinnett Place. There were dozens and dozens of apartment complexes built in the area. They have not aged well are the main reason redevelopment has been stymied. The single family neighborhoods in the area are actually rather stable. I applaud the Cobb Co commission for at least contemplating the future and not letting every proposal pass just to satisfy the free market's wishes. I think if Gwinnett, or some of the other suburban communities, had done the same they would be in much different places.

[Newsboy]

Even Fayette County has woken up to the reality that mellenials are necessary for a healthy economic future and looking at ways to attract and keep them. The Pinewood Forest village development adjacent to Pinewood Studios is being designed specifically for that purpose and will be a game-changer.

“We’d like to see Fayetteville become a millennial village. However, you can’t do that without density. Books will be written about this development, but not because of its density. They will be written because it’s cool.”

http://thecitizen.com/news-business/...newood-forrest

[Born 2 Roll]

I would not be surprised if the developer agreed to build the complex as a condo complex and then a few months after it opened converted many of the condos to apartments as has been common practice in the real estate market for the better part of the last decade.

The market for condos just is not strong right now for condos to be built in that location.

[ATLJR]

Originally Posted by Born 2 Roll

I would not be surprised if the developer agreed to build the complex as a condo complex and then a few months after it opened converted many of the condos to apartments as has been common practice in the real estate market for the better part of the last decade.

The market for condos just is not strong right now for condos to be built in that location.

That would be impossible and wouldn't make sense financially. Lenders simply are not lending for condos. They're asking for around 70% of presales before they'll even begin to lend the money needed for construction and the interest rates are not as good as what you could get for a sound multifamily rental development. Not sure how you envision a company doing anything like that. They would have to presell units, build the units, rebuy back the unit they presold, somehow not get sued by lender, etc.

[red92s]

Originally Posted by ericsonga

I don't think what Cobb is doing is necessarily bad. We are not discussing an area that has no options for rental housing. The spot where this is proposed probably has 2-3 dozen large apartment complexes within a one mile radius, if not more. Apartment complexes in Atlanta, especially the suburbs, do not tend to age well. Let's all cast a glance over at Gwinnett and specifically Gwinnett Place. There were dozens and dozens of apartment complexes built in the area. They have not aged well are the main reason redevelopment has been stymied. The single family neighborhoods in the area are actually rather stable. I applaud the Cobb Co commission for at least contemplating the future and not letting every proposal pass just to satisfy the free market's wishes. I think if Gwinnett, or some of the other suburban communities, had done the same they would be in much different places.

Why is the assumption that the quality level would be any higher if they were condos instead of apartments? One of the proposals was to build as apartments then convert to condos. Condos that don't age well are just as easy to build as apartments that don't age well.

If there is lots of dissatisfaction with the what/how builders are constructing these complexes . . . they should probably consider addressing that concern through their building codes and inspections.

[arjay57]

Originally Posted by ericsonga

I don't think what Cobb is doing is necessarily bad. We are not discussing an area that has no options for rental housing. The spot where this is proposed probably has 2-3 dozen large apartment complexes within a one mile radius, if not more. Apartment complexes in Atlanta, especially the suburbs, do not tend to age well. Let's all cast a glance over at Gwinnett and specifically Gwinnett Place. There were dozens and dozens of apartment complexes built in the area. They have not aged well are the main reason redevelopment has been stymied. The single family neighborhoods in the area are actually rather stable. I applaud the Cobb Co commission for at least contemplating the future and not letting every proposal pass just to satisfy the free market's wishes. I think if Gwinnett, or some of the other suburban communities, had done the same they would be in much different places.

I agree. You can't fault Cobb for taking a cautious approach on apartments.