The MARTA Market (Atlanta, White: low income, real estate, apartments)

[cqholt]

In a new report called “The Growing MARTA Market,” Cushman & Wakefield, a global real estate services firm, describes the appetite for MARTA proximity in Atlanta as “insatiable” right now.

Drilling down, Cushman & Wakefield found that MARTA drives about $1.4 billion in economic activity each year and supports almost 25,000 jobs.

https://atlanta.curbed.com/2018/5/22...artment-market

[fourthwarden]

Originally Posted by cqholt

https://atlanta.curbed.com/2018/5/22...artment-market

I wish they'd release the report. I'd love to read it.

In the mean-time, you can read the 2016 report on the "Emerging MARTA Market", which seems to set the scene for this more recent report.

[SAAN]

MARTA needs to develop something on all the land they have next to Indian Creek station and the other parking lot at Kensington Station as well.



I know many might consider this the hood, but a gated community next to a transit station and none of the nonsense of X amount of units have to be for low income, and they will be a nice property and use the train station as a selling point.

[alco89]

Originally Posted by SAAN

MARTA needs to develop something on all the land they have next to Indian Creek station and the other parking lot at Kensington Station as well.

They've been talking about it, but for now:

https://www.bizjournals.com/atlanta/...-to-marta.html

A developer is proposing two seven-story apartment buildings next to the Kensington MARTA station, according to plans filed with DeKalb County.

The 2.7-acre property along Memorial Drive would be developed with 218 one-two-and-three-bedroom units.

The site, which stands across from a fenced-off surface parking lot that once served the MARTA station, needs to be rezoned for high-density residential use, according to an application submitted to DeKalb County.

The developer, Kensington Station LLC, said the project will allow for higher-density residential uses around the station. It’s also proposing a six-story parking deck as part of the redevelopment.

The rezoning would become a spark for other projects within the Kensington-Memorial Drive Overlay district, according to the application.

[Atlanta Scientist]

That's why I live where I live and work where I work. After living in the 'burbs, MARTA accessibility was a must.

[arjay57]

Originally Posted by cqholt

What a great case for the business community to finally start participating in MARTA funding -- they are benefiting tremendously from it.

Seems a little unfair to put 100% of the cost on the Little Man.

[Gulch]

Originally Posted by arjay57

Seems a little unfair to put 100% of the cost on the Little Man.

The "Little Man" is paying for it one way or the other.

[fieldm]

https://atlanta.curbed.com/2018/5/22...artment-market

Drilling down, Cushman & Wakefield found that MARTA drives about $1.4 billion in economic activity each year and supports almost 25,000 jobs.

The statistics researchers found when honing in on areas within a half-mile of MARTA stations—across multiple Atlanta geographies—could provide factual evidence that a city so long associated with sprawl has turned a corner toward urbanized densification.

They call this radius the “MARTA market.” And the numbers could qualify as staggering.

Consider that over the past decade, the number of new residential units within half a mile of MARTA stations has more than tripled inventory growth elsewhere, per Cushman & Wakefield’s findings.

[cqholt]

Already posted: //www.city-data.com/forum/atlan...ta-market.html

[arjay57]

Originally Posted by Gulch

The "Little Man" is paying for it one way or the other.

Big business has a vastly broader and more efficient distributive model than the individual.

The developers are making a killing on transit, funded courtesy of the taxpayer.

For just one example:

Consider that over the past decade, the number of new residential units within half a mile of MARTA stations has more than tripled inventory growth elsewhere, per Cushman & Wakefield’s findings.

On the downside for renters, but as a boon for developers, multifamily rents in this circle of MARTA proximity have reached nearly 50 percent higher than areas less transit-friendly.

When it comes to office space, across the metro more than 60 percent of all new construction is now occurring within a half-mile MARTA stations—all of it upscale, or Class A, development.

And average office rents near transit stations are nearly 25 percent higher than the Atlanta market overall, per the study.

https://atlanta.curbed.com/2018/5/22...artment-market