This Week in Atlanta Real Estate: Atlanta named one of fastest growing housing markets, new communities and more

by Zachary Wright

The Atlanta-Sandy Springs-Marietta area was named on of the fastest growing housing markets, according to USA Today. After analyzing 25 metros across the country, the Atlanta area came in at No. 13. USA Today said while the median home price surpassed pre-crisis levels and reached an all time high during the second quarter of 2018, the recovery from the Great Recession of 2008 has been largely uneven.

For the Atlanta area, the median home sale price increased 11.7 percent. In 2017, the median home sale price in Q2 was $204,900. A year later, the median home sale price is $228,800. In July, the unemployment rate was 3.5 percent.

USA Today said Americans have been moving from large, urban areas of the Northeast to suburban, mid-sized cities of the South and the West. “From 2016 to 2017, the population of the South and West grew by 1.0 percent, five times the 0.2 percent population growth rate in the Northeast. In 2014, Florida surpassed New York as the third most populous state,” USA Today said.

In other real estate news:

  • Courtland Partners are reportedly in talks to buy SunTrust Park Apartment Complex. Courtland Partners has spearheaded the effort to purchase the Home at The Battery Atlanta — a three-property multifamily complex in the Braves stadium district. Braves Development Co. CEO Mike Plant and Walker & Dunlop Chief Operating Office Kris Mikkelsen confirmed the three apartment properties were under contract, but did not reveal information about the price or who is the pending buyer. Courtland CEO Steven DeFrancis told an audience at Bisnow’s Multifamily Annual Conference Southeast the firm was looking to buy newly developed and stabilized products.
  • Illinois-based McShane Construction Company announced building duties have been secured for a 271-unit apartment community being developed by TQ-UWS Apartment Homes. Architects Dynamik Design show the project will three wood framed buildings, a three-, four-, and five-story structure. The new apartment will span 359,000-sf on an 11.3-acre site on Bolton Road, near Crest Lawn Memorial Park. Called “Vue at the Quarter,” amenities will include a clubhouse, outdoor pool, grilling areas, a fitness facility and dog parks within the gated community.
  • Fortress Builders announced development for Peacock Park in Cobb County. Homes are expected to be listed in the $300,000 to $399,000 price range. Peacock Park homes will feature craftsman-style exteriors with “rich interior amenities” like quartz or granite countertops and extensive hardwood flooring. Four home designs will be available, ranging from three-to-five bedrooms and two-and-a-half to three-and-a-half baths.
  • Townsend at Chamblee and Townsend at Perimeter in the Atlanta-area opened new resort-style amenities this week. The townhomes by homebuilder and developer Taylor Morrison, located in Chamblee and Dunwoody, both include a pool with cabanas for social gatherings, while Townsend at Chamblee also includes a promenade. Townsend at Chamblee offers seven floor plans with prices starting in the mid $400,000s. Townsend in Perimeter offers nine floor plans with prices starting out in the $500,000s.
  • John Wieland Homes and Neighborhoods announced their “walkable, luxury lifestyle” community in Apharetta is ready for quick move-ins starting this fall. Known as the “Foundry,” John Wieland Homes and Neighborhoods features 113-units with a mix of 25 single-family homes and 88 townhomes. Prices start out in the high $600,000s with floor plans ranging from 2,600 to 3,800 sf. The company also announced buyers at Foundry also have the opportunity to be involved in the design process with the help of a personal design consultant.
  • Pollack Shores Real Estate Group announced the acquisition of AMLI Northwinds, an 800-unit apartment community in Alpharetta. The community will be renamed Avery at Northwinds. The firm also announced they will invest more than $13 million in property upgrades and amenity improvements. Project plans include new appliances, countertops and light fixtures for all residential units. Amenity upgrades include renovations for the three pools, a new fitness center and converting two-thirds of the tennis court into “the Hub” – an area with green space for community events.