We Are GaREIA 2 / July 2015 | Page 23

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. Got a tip? Email [email protected] and your news could end up in the next edition of “We are GaREIA.” 5 https://www.bisnow.com/atlanta/news/multifamily/swinging-60s-buckhead-apartment-hits-market-46072