Is The Atlanta (ITP) Boom Over? (Perry, Nashville: employment, per square foot, living)

[GRS86]

Originally Posted by cparker73

Bungalow belt! That's a new one, and I like it.

When my family first moved here, we were obsessed with all the Craftsmans (old and new), but as the family's space needs grew and listing prices increased, we recalibrated our expectations. I love modern homes and remember the first issue of Dwell magazine I got in 2002 featured a modern house in East Atlanta with a butterfly roof, which was apparently a novelty at the time. Now, you can't go more than a couple of houses on the east side and Decatur without seeing a cheap, boxy modern that was designed by a "contractor" and not an architect that knows what they're doing.

As for Cascade, all the neighborhoods from Greenwood Cemetery to where mayors Keisha and Kasim live surrounded by John Weiland neighborhoods near Niskey Lake and the New Hope Road corridor are actually considered fully gentrified and approaching being exclusive according to a city map I saw. You're not going to see people on Skip Mason's page complain about people in those areas pushing out poor Black families.

Check out this $2.4M listing to see how crazy things are about to get in Cascade. There's no other house with that price tag or square footage anywhere on the south side of town, so I don't know what they're doing building a spec home like this unless they're trying to pump up the comps in the area.

You need to go on and make an offer on that house before someone from NY or the West Coast makes a cash offer on it!!!

[GRS86]

Originally Posted by cparker73

Bungalow belt! That's a new one, and I like it.

When my family first moved here, we were obsessed with all the Craftsmans (old and new), but as the family's space needs grew and listing prices increased, we recalibrated our expectations. I love modern homes and remember the first issue of Dwell magazine I got in 2002 featured a modern house in East Atlanta with a butterfly roof, which was apparently a novelty at the time. Now, you can't go more than a couple of houses on the east side and Decatur without seeing a cheap, boxy modern that was designed by a "contractor" and not an architect that knows what they're doing.

As for Cascade, all the neighborhoods from Greenwood Cemetery to where mayors Keisha and Kasim live surrounded by John Weiland neighborhoods near Niskey Lake and the New Hope Road corridor are actually considered fully gentrified and approaching being exclusive according to a city map I saw. You're not going to see people on Skip Mason's page complain about people in those areas pushing out poor Black families.

Check out this $2.4M listing to see how crazy things are about to get in Cascade. There's no other house with that price tag or square footage anywhere on the south side of town, so I don't know what they're doing building a spec home like this unless they're trying to pump up the comps in the area.

Actually, the term “Bungalow Belt” is one I borrowed from the Chicagoland area. It’s commonly used to describe the housing stock there. Being that Chicago was considerably larger than Atlanta, Detroit, and other cities that came of age during the railroad/Industrial Age era, it of course has the largest collection of Bungalows. In fact, they have what is called a “Chicago Bungalow” which is a Bungalow with a slightly modified roof line where the roof is parallel to the street that’s unique to Chicago. My guess is that 1/4 to 1/3 of the total housing stock in Chicago proper are Bungalows!!!

[equinox63]

Hundreds of new apartments materializing in the shadow of former Turner Field - Urbanize Atlanta

[Smocaine]

Originally Posted by equinox63

Hundreds of new apartments materializing in the shadow of former Turner Field - Urbanize Atlanta

All these Summerhill apartments have bizarrely high rents- when you look them up, they're no cheaper than what you'd get in Midtown or near the Eastside Beltline. I have to imagine it's ambitious pricing from the developers, as I have a hard time believing that people are really paying Midtown/Beltline prices for the Turner Field area in large numbers.

[Atlanta-Native]

Originally Posted by Smocaine

All these Summerhill apartments have bizarrely high rents- when you look them up, they're no cheaper than what you'd get in Midtown or near the Eastside Beltline. I have to imagine it's ambitious pricing from the developers, as I have a hard time believing that people are really paying Midtown/Beltline prices for the Turner Field area in large numbers.

How much?

[cwkimbro]

Originally Posted by Smocaine

All these Summerhill apartments have bizarrely high rents- when you look them up, they're no cheaper than what you'd get in Midtown or near the Eastside Beltline. I have to imagine it's ambitious pricing from the developers, as I have a hard time believing that people are really paying Midtown/Beltline prices for the Turner Field area in large numbers.

New buildings usually have higher rents for a few years before it falls a little (or fails to increase in price as much as other properties).

I think what keeps the pricing high is that it is GSU student-centric and in the next 10 years I can see demand staying as they build the area out. I think that are is going to be a mix of public/private extension of the GSU campus.

GSU runs a shuttle to that area and operates student parking there daily, so it becomes a good place for students to live, have the convenient shuttle outside their door, and not have to live in the core of Downtown. It is a long walk to campus, but possible to do when needed. It has decent access to Grant Park. Many GSU students have stayed in the Summerhill neighborhood in the past.

The more they build on that site, the more desirable I think it will be to college students.

[Smocaine]

Originally Posted by Atlanta-Native

How much?

https://www.apartments.com/broadston...ta-ga/vchw96f/

475 sq ft studios starting at $1,620

https://www.apartments.com/565-hank-atlanta-ga/d9wgzek/

1-beds at $1,735

I legitimately want to know who is paying these prices for this neighborhood. I would be open to living in Summerhill, but at those prices? Give me a $1,150 studio and I'll give you a second look. $1,620? That's more than the base rent before concessions in my high-rise (and its thick, wonderfully noise-dampening concrete construction) next to Piedmont Park...

[JMatl]

Originally Posted by cwkimbro

New buildings usually have higher rents for a few years before it falls a little (or fails to increase in price as much as other properties).

I think what keeps the pricing high is that it is GSU student-centric and in the next 10 years I can see demand staying as they build the area out. I think that are is going to be a mix of public/private extension of the GSU campus.

GSU runs a shuttle to that area and operates student parking there daily, so it becomes a good place for students to live, have the convenient shuttle outside their door, and not have to live in the core of Downtown. It is a long walk to campus, but possible to do when needed. It has decent access to Grant Park. Many GSU students have stayed in the Summerhill neighborhood in the past.

The more they build on that site, the more desirable I think it will be to college students.

Yep, and now that Publix is about to break ground the area has 'arrived', and is legit to the developers and future residents. What GSU has done to and for the City's core is nothing short of amazing.

[JMatl]

Originally Posted by Smocaine

https://www.apartments.com/broadston...ta-ga/vchw96f/

475 sq ft studios starting at $1,620

https://www.apartments.com/565-hank-atlanta-ga/d9wgzek/

1-beds at $1,735

I legitimately want to know who is paying these prices for this neighborhood. I would be open to living in Summerhill, but at those prices? Give me a $1,150 studio and I'll give you a second look. $1,620? That's more than the base rent before concessions in my high-rise (and its thick, wonderfully noise-dampening concrete construction) next to Piedmont Park...

Well, obviously someone is, or they wouldn't be building so many apartments. The townhouses and single family homes are selling as well, and more are under construction.

[demonta4]

Originally Posted by Smocaine

https://www.apartments.com/broadston...ta-ga/vchw96f/

475 sq ft studios starting at $1,620

https://www.apartments.com/565-hank-atlanta-ga/d9wgzek/

1-beds at $1,735

I legitimately want to know who is paying these prices for this neighborhood. I would be open to living in Summerhill, but at those prices? Give me a $1,150 studio and I'll give you a second look. $1,620? That's more than the base rent before concessions in my high-rise (and its thick, wonderfully noise-dampening concrete construction) next to Piedmont Park...

I've followed apartments.com for the last 3 years assessing what I'd be able to afford and you'll be hard-pressed to find anything inside the beltline nearing $1,100 that isn't a student apartment in 2021. Even older buildings have gone up significantly in price. We aren't even beginning to build enough for all of this demand. Hopefully, the zoning changes go through but that will take years to have an actual effect on pricing and NIMBYs will work to downsize projects at every turn.