Anyone have any updates on leasing activity in Midtown. The ABC reported 7th and Peachtree at 75% filled before opening. I wonder how the other projects leasing are fairing.
I think Seventh Midtown is already open, I have seen people in a unit watching tv on the corner of Peachtree and 7th.
They've also for the most part completed the backside parking area, though it is still roped off.
It could be nothing, but I noticed some heavy equipment on the parking lot of 880 West Peachtree doing some work. Soil testing perhaps...
It would have to be soil testing because it was just recently reported that they started the permitting process. It is great to see so many of these projects moving forward.
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Originally Posted by atlwarrior
Anyone have any updates on leasing activity in Midtown. The ABC reported 7th and Peachtree at 75% filled before opening. I wonder how the other projects leasing are fairing.
That project is condos not apartments. It's been over a year since any new apartments were delivered in Midtown which was 131 Ponce and apartments are at or above 98% occupancy.
I walked on the site this morning and saw a few markers and nearly all of the trees had white tape around them just might be the beginnings of something
Does anyone have details on the permitting for this development?
It would have to be soil testing because it was just recently reported that they started the permitting process. It is great to see so many of these projects moving forward.
That project is condos not apartments. It's been over a year since any new apartments were delivered in Midtown which was 131 Ponce and apartments are at or above 98% occupancy.
I'm amazed at what people are paying to rent right now. Seems that all the millenials will eventually "grow up" and realize they could buy and pay less. I wouldn't be surprised to see a lot of these apartment buildings get converted and sold as condos in the future.
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I'm amazed at what people are paying to rent right now. Seems that all the millenials will eventually "grow up" and realize they could buy and pay less. I wouldn't be surprised to see a lot of these apartment buildings get converted and sold as condos in the future.
Not sure what "growing up" has to do with buying a house versus renting. It's a little more complicated when it comes to location, financing, down payments, transient job opportunities, etc.
I'm amazed at what people are paying to rent right now. Seems that all the millenials will eventually "grow up" and realize they could buy and pay less. I wouldn't be surprised to see a lot of these apartment buildings get converted and sold as condos in the future.
I disagree. Most of the desirable neighborhoods in Atlanta have seen their prices increase 50 - 100% off market lows in 2009. Home prices will correct again during the next recession and probably sharply. I think it is fiscally smarter to rent for the next 2 - 3 years and pay $2,000+ a month for rent and purchase a house/condo when the market dips and prices fall 20 - 50%.
Not sure what "growing up" has to do with buying a house versus renting. It's a little more complicated when it comes to location, financing, down payments, transient job opportunities, etc.
Exactly. Especially that financing/down payment part. A lot of us aren't doing well in that department (Hello, Student Loans). We'd all love to own a place, but it's just not feasible yet, generally.
I see what you're saying with down payments etc. I guess by "grow up" I mean "become financially capable". It will be interesting to see what happens though because to me, the rental bubble looks less sustainable than the previous housing bubble.
__________________
"I'm a little verklempt..Talk amongst yourselves..I will give you a topic: The Holy Roman Empire was neither holy nor Roman nor an empire. Discuss."
I see what you're saying with down payments etc. I guess by "grow up" I mean "become financially capable". It will be interesting to see what happens though because to me, the rental bubble looks less sustainable than the previous housing bubble.
Rental bubbles don't lead to catastrophes of the financial system, but housing bubbles do.
I read an article a couple of years ago and the author made an interesting point. He stated investors favor multi-family rentals and hotels because they are the only real estate assets that reprice yearly or nightly. Therefore, investors can extract the best return in any market condition.
Rental bubbles don't lead to catastrophes of the financial system, but housing bubbles do.
I read an article a couple of years ago and the author made an interesting point. He stated investors favor multi-family rentals and hotels because they are the only real estate assets that reprice yearly or nightly. Therefore, investors can extract the best return in any market condition.
That's exactly right. Housing bubbles burst; apartment bubbles leak slowly, to the extent that they exist at all.
Whether all of these places can find enough millennials eager to shell out $1,800/mo on a 1/1 is dubious; but they absolutely can find plenty who will pay $1,400. And all of the (far, FAR more numerous) less flashy apartments people are renting for $1,200-$1,400 right now will adjust back into the $1,000 range. It wouldn't be the worst thing in the world, honestly.
Wow, if 14th Street goes this cycle it would be huge. I am still hoping Eviva, Juniper & 5th, and the Hanover Midtown project begin construction soon, too. Those three would really improve the urban fabric of Midtown. 1125 Peachtree would be great too, but considering it's a 50 story I'm not as confident it will happen.
Atlanta is starting to feel urban in multiple parts of town. Considering Atlanta receives so many transient individuals, I bet the more development projects that create a more urban environment Atlanta's retention rate starts to improve. Instead of professionals using Atlanta as a springboard to another city, more will decide to stay here.
But they would only build one of the towers for now, correct? I hope they keep this rendering/look. I like it. It's different than anything we have. Is there a new rendering?
What is the deal with Eviva? This is my favorite!!!
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