This Week in Atlanta Real Estate: Potential personal rapid transit, park grants and more

by Lauren Clohessy

VHB announced a study to determine transit models for the city’s Aerotropolis Atlanta project, according to Curbed Atlanta. The AeroATL project began in 2015 with the Aerotropolis Atlanta Alliance, who had a goal to turn Atlanta’s Hartsfield-Jackson International Airport surrounding neighborhoods into an airport city, similar to plans in Chicago and Washington D.C.

A VHB press release read, “The study will evaluate multimodal options, including rail transit and autonomous systems such as personal rapid transit, that offer the most efficient movement of people and goods within and even beyond the Aerotropolis area surrounding the airport.” The AeroATL project also has intentions to include a 200-plus multi-use trail network connecting neighborhoods like College Park, East Point, Forest Park and Hapeville.

In other Atlanta real estate news:

  • Promise Homes Company announced the closing of their third and fourth portfolio acquisitions. The portfolio acquisitions bring a combined total of 167 homes in Atlanta, Tallahassee and Orlando. Promise Homes began last May with a focus in middle and working class communities. “These latest transactions are comprised of quality homes both in the Atlanta area – where we are continuing to build our presence – as well as in new markets in Florida, where we are proud to be able to expand our unique services to these communities,” said Promise Homes CEO John Hope Bryant. Property management services for the Atlanta homes will be provided by Renters Warehouse.
  • College Park is getting a new set of townhouses, according to Curbed Atlanta. Rod Mullice and Jerome Russell proposed the Temple Square project, which will bring 17 units to a vacant lot a block outside downtown College Park. Temple Square will offer five options for floor plans, ranging from low to high $300,000. Bill Tunnell from Tunnell, Spangler and Walsh designed the townhouses and Ymani Tanis will be brought in for the interior designs. The Temple Square homes will be delivered in late 2019.
  • The Georgia Transportation Infrastructure Bank provided the Park over GA400 with a $600,000 grant. The Buckhead Community Improvement District announced that the grant will go towards topographic and utility survey work move the park engineering project forward. “We are honored to be awarded the GTIB grant, in addition to receiving inquiries from potential financial supporters, all of which give me added encouragement that the Park and its development are well supported,” said BCID Executive Director Jim Durrett.
  • The Huntley high-rise apartment building is set to open next month in the Buckhead area, according to Curbed Atlanta. The high-rise, developed by Wood Partners, houses 260 one-, two- or three-bedroom options for buyers. The rent is estimated to range anywhere from $2,000 to $5,000 a month, excluding penthouses. Penthouses rent prices can reach nearly $10,000 a month. The Huntley currently has 12 inhabitable stories that have 16 filled units and 40 pre-leased, and will feature a rooftop lounge, office space and a pool for residents.
  • Ashton Homes is hosting a model grand opening event in Sandy Springs. In a press release, the company announced the Taste of Aria event on June 23 from 11 a.m. to 2.pm. to provide the public with an opportunity to tour Aria’s seven new model homes, along with some of Atlanta’s best food trucks and three grand prize drawings for attendees. “We are thrilled to invite the public to experience our exceptionally designed model homes of Aria. This community offers a spectacular blend of city and nature living, which we are excited to showcase with Taste of Aria,” said Ashton Woods Vice President Michael Malloy.