This Week in Atlanta Real Estate: Experts still say Atlanta an Amazon HQ2 frontrunner

by Chase Conner

atlanta-downtown-skyline

After making it to the 20 finalists of potential cities for Amazon’s second headquarters, experts continue to pick Atlanta as a top contender. According to a new Zillow survey, Atlanta and northern Virginia are the two most likely areas to end up with HQ2. Experts cite Atlanta’s modest home prices and rents as one of the major draws for the company. Other attractive Atlanta features include land availability, talent and business-friendly tax codes. “Atlanta has the benefit of being one of the most affordable markets in the country, and is undergoing an urban renaissance with new public infrastructure providing attractive opportunities for employers seeking to lure young urbanites,” said Zillow Senior Economist Aaron Terrazas.

In other Atlanta real estate news:

  • Stanley Martin Companies finished the acquisition of Atlanta-based homebuilder FrontDoor Communities, according to BuilderOnline. The deal includes more than 1,300 home sites and more than 150 homes under construction in both Atlanta and Charleston, South Carolina.
  • Century Communities will open The Heights in Carver Hills in Doraville on March 3. The new community is expanding Century’s presence in Atlanta with the three new home models. The expansion will offer single family homes and townhomes with prices starting in the mid-$400,000s, immersed in a hotbed shopping and dining options. The community will have amenities such as 24/7 controlled access, a resort-style pool, miles of biking trails and a dog park.
  • The Allen Morris Company closed on a 1.7-acre parcel of land in Atlanta’s West Midtown at 1041 Howell Mill Road. The $8.5 million site will be home to Star Metals Offices, a 14-story, 222,000-square-foot tower with offices and ground floor retail. Additionally, the Atlanta development will have of 409 luxury multifamily units across the street. The company expects to start demolition of the site later this year and anticipates to complete the project in spring 2020.
  • Pre-sales for homes in Brockwood launched this week. The mixed community of townhomes and standalone houses will feature a contemporary style, monochrome brick exteriors and sky terraces. The project, 28th at Brookwood, is planned for the area where Midtown meets the southern point of Buckhead. The project will include 18 townhomes and five detached residences with prices that start in the mid-$700s.
  • Phase I of Quarry Yards, the 70-acre mixed-use development project adjacent to the Bankhead Marta Station on Donald Lee Hollowell Parkway, was unveiled on Feb. 28. The project is in development by Mark Teixeira, former Atlanta Braves first baseman and MLB All-Star, along with Urban Creek partners Jimmy Barry and Joel Bowman. Expected to launch by the end of 2018, the 27-acre, $400 million first phase of development is located 1.5 miles from Teixeira’s alma mater, Georgia Tech, and will include 575,000 square feet of office space, 850 residential units, a 300-key hotel, and 75,000 square feet of retail and restaurants.