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Originally Posted by simms3_redux
Depends who you ask and where. Here in Atlanta 99% of the time it is going to mean rentals. Condos and rentals are completely different in every way, as you can imagine. In Atlanta condos are condos and multifamily, apartments and rentals are all the same thing.
As you can also imagine due to the nature of the Atlanta market and the macro-condo market overall, nobody is putting up new condos or doing conversions here in Atlanta at this time. All the towers and mid-rises you see planned or going up are multifamily, aka rentals, so I joked that we should have a bracket. A lot of the major players each have something going on in intown Atlanta at this point and some are slow to start and some are going to deliver early, so assuming there is potentially a multifamily bubble, we should start a bracket.
The players are Novare/UBS, Daniel/Northwestern Mutual, Cousins/Gables, Hines, Daniel/Metlife, North American Properties, whoever closed on the Atlantic, the current owner of Mezzo, Coro Realty Advisors, Oliver MacMillan, AMLI, Westbridge Partners, and of course there are others.
You can look at timing, product, submarket, pricing, amenities, or any other factors.
Who's going to be a winner and who's not? Once more projects get further under way there should seriously be a bracket and we should track all the way to sale upon stabilization. It could be a basic analysis of what to do and how to do it, and what not to do and why/how not to do it.
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Hey Simms,
Have you heard any updates recently about what's going on with the space across from White Provision @ 14th and Howell Mill? It was supposed to be Westbridge doing mixed-use ("luxury" rental and retail), but a little birdie (i.e., another developer) told me that fell through. Supposedly Westbridge floated the idea to the Atlanta Business Chronicle just to see if any investors would bite. So last I heard, some other party bought the land and are now sitting on it.
There's also a patch of land between JCT and the Goat Farm off of Huff that's been razed recently. Rumors are that there's a different developer sitting on that plot and waiting to build multi-family. Any idea who that is?
The Westside certainly needs more infill. As long as the apartments are done decently, I'm happy to see more density.
(P.S. I too heard from a different source that the Atlantic will be going all rental. Seems like the smart thing to do, and it will help the ATL condo market out immensely.)
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