However, the same is also true for property prices in the capital city of Georgia. In fact, the best time to buy a home in Atlanta is now. Given its location and modern amenities, the place has caught the attention of both the property developers and home owners. So, it’s not surprising that the property prices have been on an upswing in the past couple of years.
The city has experienced a property development boom since early 2014. However, it’s more than the housing. Proposals for new development include everything from daycare (Larkin on Memorial) and dry cleaning to freestanding restaurants (Grindhouse Killer Burgers) and mammoth new judicial complexes.
Here are the top five new complexes breaking ground in Atlanta:
1. Leggett and Platt
The 15-acre residential complex in Atlanta is expected to be completed in 2018. Developed by Jeff Fuqua, the estimated cost of the project is around $250 to $300 million. The sprawling residential complex will consist of more than 600 units of restaurants, tech offices, housing, grocery store, and even a movie theater.
2. Urban Realty Partners
Another upcoming complex in Atlanta is the 4-acre residential complex from Urban Reality Partners. While the deal has not yet been finalized, it is expected that the project will commence after the end of the lease held by Nextran trucking firm, in 2019. Urban Reality Partners has considered converting the area into a 300 unit complex containing houses and offices.
3. The Lofts at Reynoldstown Crossing
The project owned by Atlanta BeltLine Inc. had completed the first phase of the project in 2012. The second phase of the construction is expected to be announced soon. Located in the Reynoldstown area, the project is located at a walking distance to restaurants. Authentic features of the project include exposed ductwork and cement columns, and high-end finishes. The amenities located here include a club room, swimming, pool, community rooftop deck and a swimming pool.
4. The Parker
The 2.35-acre project dubbed as ‘The Parker’ intends to convert a warehouse into a 238-unit luxury residential complex. Developed by Atlantic Reality, the project name refers to the gas station that one of the owners’ family-member owned during the 50s. It is estimated that the project will cost about $50 million with completion targeted at the end of 2017.
5. MARTA’s King Memorial Station
With an estimated cost of $60 million, Marta and Walton Communities will turn a parking lot located near the King Memorial Station into a 400 apartment and residential complex. Highlights of the neighborhood include proximity to downtown Atlanta and outdoor recreation areas including the Selene S. Butler Park and Grant Park. The project is expected to complete by the end of 2017.
Atlanta is expected to see a lot of property development in the foreseeable future. If you want help to buy or sell a home in Atlanta, GA, you should contact America’s Network Realty Group. Owned by an experienced and REA certified broker Telmo Bermeo, the company has been offering highly professional services for over two decades. Call 770-309-6417today to get help in buying or selling a house in Atlanta.