Why did Franklin Road go in a downward spiral so fast?

[ElleKaye]

David1502 prettty much nailed that response.

For the specific area of Franklin Road, it was one of the first places I looked when I relocate4d here. It was not far from work, it had easy freeway access, and the prices seemed reasonable. I did a drive-thru during the middle of the day and there were all these grown men standing around outside these complexes. That was a problem for me. Everybody couldn't be working the night shift.

I have heard a lot about gangs in that area and there are very recent threads addressing it. I never lived there so I have nothing to contribute about that.

I think no matter how things were befgore or how or why things have gone badly now, it's pretty much prime real e4state near the new stadium. That is the real reason - location, location, locstion. It has been screwed up for a good 20 years so it's awfullly convenient that now is when it is being resolved.

[hilltop180]

When the THD move was announced I kept saying the area would change very rapidly; like 6 months. Now that I am over there every day, it's harder for me to envision. It may end up that they end up buying out all these run down hotels and apartments, tearing them down, and leaving vacant lots in their place. The city is dead set on changing it. I think the city missed out when the MLS team moved to Dekalb Co. I just don't think Cobb tax payers were willing to stomach another huge tax break for a sports team.

[0nyxStation]

Originally Posted by hilltop180

When the THD move was announced I kept saying the area would change very rapidly; like 6 months. Now that I am over there every day, it's harder for me to envision. It may end up that they end up buying out all these run down hotels and apartments, tearing them down, and leaving vacant lots in their place. The city is dead set on changing it. I think the city missed out when the MLS team moved to Dekalb Co. I just don't think Cobb tax payers were willing to stomach another huge tax break for a sports team.

They who? Cobb County or The Home Depot? If you remember The Home Depot wanted 200 million for that move or THD threatened to leave Cobb and Cobb gave up that money for them to stay. Where is the Home Depot now that the headquarters has moved to Marietta?

[David1502]

Originally Posted by BlackPeach2

They who? Cobb County or The Home Depot? If you remember The Home Depot wanted 200 million for that move or THD threatened to leave Cobb and Cobb gave up that money for them to stay. Where is the Home Depot now that the headquarters has moved to Marietta?

The Home Depot has not moved their HQ from its current location at the Paces Ferry Rd. and I-285 interchange. If you look at Hilltop180's original post, he said that the Paces Ferry Rd. location was busting at the seems with over 8,000 employees, so the decision was made to move 1,100 folks in the IT division to the Franklin Rd. office park. The rent on Franklin Rd. is a lot less expensive than adding more space at the HQ location or trying to rent space in Vinings.

Also, Hilltop180 said that THD picked the Franklin Rd. location because of its proximity to their existing HQ.

In response to Hilltop180, it is hard to see how having some folks working on Franklin Rd. south of Delk Rd. would lead to a radical revitalization of the apartments north of Delk. For example, Dave and Busters and Cracker Barrel have been in business just off Franklin Rd., for over 20 years, but south of Delk, and they haven't led to a flourishing of other restaurants. Also, there have been companies which have been leasing office space in the New Market Office Park long before THD ever signed a lease there and those companies employees haven't been a catalyst for the apartments between Delk and the 120 Loop to see any improvement in their fortunes.

As I said in my earlier post, the only way there is going to be a revival of the apartment corridor of Franklin Rd. is for ever complex which is there now to be bulldozed down and start all over.

Why is this so? People are not going to pay $1,200 or more in rent for a new one bedroom apartment when the other older apartments next door or down the street are going for $750. They may feel a little unsafe and will feel that they are paying too much for the location if most of the other apartments are going for so much less.

A good example is the new Village of Belmont, formerly Belmont Hills shopping center where the older apartments were completely bulldozed so they could build the new 5 story apartment building.