The boom in apartment construction around Atlanta continues unabated. In fact, it seems to have accelerated.  

According to new research from Berkadia, the number of multifamily units under development in the metro area jumped to 180,542 at the end of the first quarter from 147,881 at the end of 2022. 

These apartments are spread out among 729 projects in some stage of the development process — lease-up, construction, planning or proposed — at the end of the first quarter, according to the commercial real estate firm’s most recent Construction Pipeline Report.  

The bulk of the apartments, 116,880, are considered prospective, meaning they have been proposed by developers but not yet approved by local authorities and might never come to fruition. Nevertheless, projects representing 12,413 units are already welcoming tenants, while projects with 21,792 units are underway, and 29,517 apartments have made it through the permitting process.  

Berkadia splits the Atlanta market into two buckets: urban and suburban. A look at the numbers shows slightly more activity in Atlanta’s suburbs, with 97,922 apartments, compared to 82,620 in the urban core.  

The full report can be found here (registration required).   

Some interesting top-line figures:  

Urban lease-up: 5,648 units.  

Suburban lease-up: 6,765 units.  

Total lease-up: 12,413 units.  

Urban under construction: 11,937 units.  

Suburban under construction: 9,855 units.  

Total under construction: 21,792 units.  

Urban planned: 12,340 units.  

Suburban planned: 17,177 units.  

Total planned: 29,517 units.  

Urban prospective: 52,695 units.  

Suburban prospective: 64,185 units.  

Total prospective: 116,880 units.  

Total urban: 82,620 units.  

Total suburban: 97,922 units. 

Total: 180,542 units.