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This Week in Atlanta Real Estate: Georgia ranks for top states for business, new $2 million townhomes and more

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CNBC recently named Atlanta as a strong contender for Amazon’s HQ2. Georgia was recently named as one of the website’s top states for business, coming in at No. 7, and says that job growth and state finances are some of the best within the country. However, its weak spot may be its quality of life rating and the incentives that Amazon would receive if it placed HQ2 there.

In other Atlanta real estate news:

  • A new four-townhome project is coming near the Atlanta Botanical Gardens and are likely to be priced above the $2 million mark. According to Curbed Atlanta, these are among the priciest townhomes in the city so far and one of the only outside of Buckhead to pass $2 million. Named The Residences of Park Lane, the custom project will have four townhomes with elevators, heated bathroom floors, 10-foot ceilings and more.
  • Growing construction costs across the country have some developers moving to the suburbs. A recent Bisnow Atlanta summit had local multifamily developers talking about the growth in Gwinnett County, which has seen a significant amount of job growth over the past year. This is leading to greater demand for affordable housing, which includes multifamily housing units.
  • Residential developer Monte Hewett Homes submitted a proposal in July for 23 townhomes on a two-acre site in Buckhead, but neighbors in the area are not excited by the prospect. The developer is seeking a rezoning of 10 Blackland Road to allow for residential homes. According to the developer, the project would “provide an appropriate transition between the commercial uses along the Roswell Road corridor and the adjacent single-family neighborhoods.” However neighbors around Tuxedo Park are worried about the increased traffic as congestion is already a significant concern in the area.
  • MARTA’s board of directors will be voting on a plan to expand the transit network on Oct. 4. If passed, the plan will cost $2.5 billion in tax funds to be spent over the next four decades. Plans currently proposed include 21 miles of light rail and expanding the bus network, but there is some contention over where exactly new MARTA stations should be placed.

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