News and Legislative Updates
and add another 350 units to the property5. At present, current rents in the
development hover around one dollar/square foot.
***5 Real Estate Entities Battle Over 1.5 Acres Near Piedmont Park
The Atlanta BeltLine Inc. is making no secret of the fact that no fewer than five
“experienced real estate developers or practitioners” are doing battle for 1.5
acres of land adjacent to Piedmont Park. At present, the land is a parking lot next
to Park Tavern. Although BeltLine officials would not disclose with whom they are
actually pursuing the transaction, they did release the details of a sign-in sheet
from a mandatory meeting for any entity interested in buying the tract. The
individuals and companies listed included a custom homebuilder, a major
supporter of the arts on the BeltLine, an individual not-for-profit commercial
developer, and other commercial developers. Some of the attendees had actually
scratched out the names of their companies after filling them in. Before BeltLine
officials make a formal decision on the sale, they will review development
proposals and send their recommendation to the board that oversee Invest
Atlanta, which is chaired by Atlanta mayor Kasim Reed.
***Atlanta 8th-Best City for Street Art
When it comes to street art, Atlanta ranks among the top cities in the country.
According to the Huffington Post, Atlanta boasts the eighth-best street art in the
country, topped only by that in Miami, Philadelphia, Seattle, San Francisco, St.
Louis, Cleveland, Ohio; and Detroit. HP specifically highlighted the Old Fourth
Ward and Krog Street Tunnel areas of the city as the best locations for viewing the
city’s finest artistic efforts.
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https://www.bisnow.com/atlanta/news/multifamily/swinging-60s-buckhead-apartment-hits-market-46072