The Villas at East Atlanta

[Jorge]

Major work being done. Nice rod iron fencing with stonework posts going in and units being gutted. What's the skinny?

[The Lord of the Jungle]

It's going all section-8.










































































no, not really.

[Jorge]

LOL!  More like they evicted the ghetto. Seems to be a pretty hefty investment just in the fencing. I know its not my dream of condos there but I think it must at least be a higher income apartment complex coming in.

[The Lord of the Jungle]

New market-rate apartments would make sense.  The rental sector is the one big boom in the city (hell, nationally) right now, and developers can't seem to get apartments out of the ground fast enough.  An existing site where you don't have to do rezoning, don't have to do all the building and site planning, well, that just sounds made to order.

[Jorge]

New market-rate apartments would make sense.  The rental sector is the one big boom in the city (hell, nationally) right now, and developers can't seem to get apartments out of the ground fast enough.  An existing site where you don't have to do rezoning, don't have to do all the building and site planning, well, that just sounds made to order.

Location location location. 12 mins to downtown and probably a lot cheaper than the going rate in the Peachtree corridor.

[SB]

I noticed the lovely new flower beds and wondered the same.    I  never paid attention to that place before getting stuck behind a school bus that pretty much emptied at the stop.   

[Jorge]

Just noticed a few days ago the property seemed to be empty.  That alone tells me that whatever theyre doing is an upgrade

[Flower Lady]

They've been slowly working on them since last fall. I think they were emptying out one building at a time. I noticed some concrete removal and drainage work there last fall, and boarded up buildings.

[Clue]

New market-rate apartments would make sense.  The rental sector is the one big boom in the city (hell, nationally) right now, and developers can't seem to get apartments out of the ground fast enough.  An existing site where you don't have to do rezoning, don't have to do all the building and site planning, well, that just sounds made to order.

I completely concur with this.  Multi-family was the only bright spot for our company in 2011 mostly pushed by the occpancy rates on existing units finally getting back over the 90% rate (the last I looked for Atlanta).  This then finally got some new construction multi-family projects moving throughout the southeast.

However, as it realtes to this project I hope that it isn't just going the way of the Vineyards of Flat Shoals that had somebody come in and pretty it up, but in the end it seems to have stayed much the same way in terms of tenents. 

[The Lord of the Jungle]

New market-rate apartments would make sense.  The rental sector is the one big boom in the city (hell, nationally) right now, and developers can't seem to get apartments out of the ground fast enough.  An existing site where you don't have to do rezoning, don't have to do all the building and site planning, well, that just sounds made to order.

I completely concur with this.  Multi-family was the only bright spot for our company in 2011 mostly pushed by the occpancy rates on existing units finally getting back over the 90% rate (the last I looked for Atlanta).  This then finally got some new construction multi-family projects moving throughout the southeast.

However, as it realtes to this project I hope that it isn't just going the way of the Vineyards of Flat Shoals that had somebody come in and pretty it up, but in the end it seems to have stayed much the same way in terms of tenents.

Depends on how much they sink into it, but my understanding is that commensurate with the limited stock relative to inflating demand, average rents have been increasing.  If you see "First Month Free" out front, you know it's trouble... but I don't think the market is currently pushing product that way.

[ATLMan]

Major work being done. Nice rod iron fencing with stonework posts going in and units being gutted. What's the skinny?

Where is this located?

[lorelei]

Major work being done. Nice rod iron fencing with stonework posts going in and units being gutted. What's the skinny?

Where is this located?

Bouldercrest, south of Brannen/Eastland

[georgian]

Major work being done. Nice rod iron fencing with stonework posts going in and units being gutted. What's the skinny?

That's "wrought iron".

[J. Grouchy]

Major work being done. Nice rod iron fencing with stonework posts going in and units being gutted. What's the skinny?

That's "wrought iron".

 

[Andreas]

Major work being done. Nice rod iron fencing with stonework posts going in and units being gutted. What's the skinny?

That's "wrought iron".

 

Sounds the same with a southern drawl.  But yeah.