>>>
>>> LAND
>>> LAND PRICES THROUGH THE ROOF, NEW DEVELOPMENTS POPPING
UP ACROSS THE METRO AREA.
PRICES ARE ESPECIALLY HIGH IN
MIDTOWN.
MIDTOWN.
MIDTOWN. RESTOCK WITH OUR RESIDENT REAL
ESTATE EXPERTS, ATLANTA
BUSINESS CHRONICLE'S REPORT IS,
DOUG SAM AND AMY WINK ABOUT THE
LATEST TREND.
LATEST TREND. >> STORY RECENTLY ABOUT PRICES,
IN MIDTOWN.
IN MIDTOWN. PRICE APPRECIATION SEEMS TO BE
REALLY SOARING, TELL US ABOUT
THE DEVELOPER THAT BOUGHT ONE
ACRE OF LAND, FOR $70 MILLION?
>> STUDENT HOUSING, AND
APARTMENT DEVELOPER,
APARTMENT DEVELOPER, RESIDENTIAL, THEY BOUGHT A
PIECE OF LAND IN MIDTOWN FOR
$17 MILLION.
$17 MILLION. ONLY ONE ACRE.
>> THAT NOW NEAR TECHNOLOGY
SQUARE?
SQUARE?
SQUARE? >> IN THE HEART OF TECHNOLOGY
SQUARE BY THE NORFOLK SOUTHERN
HEADQUARTERS.
HEADQUARTERS. RIGHT BY ANTHEM TECHNOLOGY
CENTER.
CENTER.
CENTER. A
CENTER. A LOT OF JOBS.
>> WAS A SURPRISING TO YOU?
THE PRICE HAS GONE UP SO
QUICKLY?
QUICKLY?
QUICKLY? IT SEEMS QUICKLY.
>> IT IS NOT SURPRISING
ANYMORE.
ANYMORE.
ANYMORE. YOU HAVE HUNDREDS AND HUNDREDS
OF JOBS, YOU HAVE PEOPLE, IN
THE SQUARE NOW, IT IS ABOUT THE
SIZE ON THE DAILY BASIS, OF
DECATUR, SO IN TERMS OF
POPULATION, ALL PACKED INTO A
FEW BLOCKS.
FEW BLOCKS. >> EXCITING.
>> EXCITING. >> YES, AND, PROBABLY MORE TO
COME, NOT A LOT OF LAND, IN
THAT LITTLE AREA.
>> NOT A LOT OF LAND BUT THERE
ARE PARKING LOTS, WE ARE
TALKING FOR WHEN THEY DEVELOP,
PARCELS BY THE VARSITY,
REDEVELOPING THE VARSITY?
THAT WOULD BE EXCITING.
>> THAT WOULD BE A LOT OF
PEOPLE.
PEOPLE.
PEOPLE. >> NOBODY IS SAYING THAT.
BUT THERE IS LAND BY THE
VARSITY.
VARSITY.
VARSITY. >> THEY DO HAVE THE PARKING LOT
BEHIND THE VARSITY, WE HAVE ALL
SEEN IT, AND, HAVE NEVER SEEN
IT FULL.
IT FULL.
IT FULL. SO, MAYBE.
SO, MAYBE. JUST SAYING.
JUST SAYING. SO, NO, TALKING ABOUT SOUTH OF
NORTH AVENUE, NOT FAR FROM
TECHNOLOGY SQUARE.
TECHNOLOGY SQUARE. A LOT OF ACTIVITY RIGHT THERE.
>> AS IT KEEPS PUSHING
SOUTHWARD, WE ARE SEEING NEW
PRODUCTS COMING TO THE AREA, IT
IS A LONG SOUTH NORTH AVENUE
AND REALLY, EMORY IS EMERGING,
AS ONE OF THE BIGGEST CATALYSTS
IN THE AREA.
THEY ARE PLANNING TO BREAK
GROUND LATER THIS YEAR ON A
NEARLY HALF OF THE BILLION
DOLLARS 17 STORY TOWER, THAT
WOULD CONSOLIDATE AND EXPAND ITS
CENTER, SO, THAT IS A BIG NEW
PROJECT COMING TO THE AREA,
EMORY ALSO ACQUIRING A LOT OF
PARCELS, AROUND THE EXISTING
HOSPITAL, BUT THERE ARE OTHER --
YES, SO, IF YOU THINK ABOUT THE
AREA, THERE IS A GAP BETWEEN
MIDTOWN AND DOWNTOWN BUT, IT
REALLY, CAN SUPPORT A LOT OF
HIGH DENSITY DEVELOPMENT
HOUSING, SO IT WILL BE
INTERESTING TO SEE HOW IT FILLS
IN IN THE COMING YEARS.
>> THERE IS A LOT OF STUFF TO
DO IN MIDTOWN, RESTAURANTS, AND
ENTERTAINMENT, IT WILL BE
INTERESTING TO SEE NEAR THE
SOUTH OF NORTH AVENUE AREA.
LET'S TALK A LITTLE BIT ABOUT
FURTHER SOUTH IF YOU WILL.
SOUTHWEST ATLANTA, McPHERSON IN
THE HEADLINES, FOR A NUMBER OF
REASONS, FROM THE FAA,
EXPANDING RIGHT THERE, HOUSING,
GIVE US AN UPDATE ON WHAT IS
GOING ON.
GOING ON.
GOING ON. >> THERE SEEMS TO BE GROWING
INTEREST IN THE MOMENTUM, YOU
MIGHT BE FAMILIAR WITH THE OLD
ARMY BASE IN SOUTHWEST ATLANTA,
AND, MOST OF IT IS OCCUPIED BY
TYLER PERRY STUDIOS.
THERE IS AN EFFORT TO REDEVELOP
THE REMAINING 145 ACRES REALLY,
INTO A CATALYST FOR THE
COMMUNITY.
COMMUNITY. SO THERE IS A BIG MASTER PLAN
THAT IS PURRING RIGHT THERE
THAT COULD BRING 4 MILLION
SQUARE FEET OF NEW DEVELOPMENT,
HOUSING, AS YOU MENTIONED, THE
FDA ANNOUNCED IT WOULD RELOCATE
ITS ATLANTA OPERATIONS TO FORT
MAC AND THAT WILL BE ABOUT 350
JOBS.
JOBS.
JOBS. BUT, WE ARE STARTING TO SEE
DEVELOPERS SHOWING INTEREST, IN
BRINGING NEW PROJECTS THERE.
THERE IS A BIG HOMEBUILDER,
SIGNING A LETTER OF INTENT TO
DO A TOWNHOUSE PROJECT RIGHT
THERE SO IT SEEMS LIKE IT IS
STARTING TO GAIN SOME STEAM
AND, HOPEFULLY, THAT COULD BE A
REALLY BIG, YOU KNOW,
OPPORTUNITY PERHAPS TO DO A
PORTABLE HOUSING.
PORTABLE HOUSING. IF YOU THINK ABOUT THAT SITE,
AND YOU KNOW, SPEAKING A LITTLE
BIT MORE, TO ALL OF THE EFFORTS
IN THE CITY AROUND AFFORDABLE
HOUSING.
HOUSING.
HOUSING. >> IS WHAT WE ARE SEEING IN
TERMS OF FORT MAC OR SOME OF
THE OTHER TRANSIT NODES,
LOOKING LIKE IT WILL MOVE
FORWARD?
FORWARD?
FORWARD? >> SO, AFFORDABLE HOUSING IS
CHALLENGING, PRICES ARE GOING
UP, LAND, AS WE JUST POINTED
OUT, SO, IT WILL TAKE A BIG
EFFORT FROM A LOT OF DIFFERENT
AGENCIES.
AGENCIES.
AGENCIES. AND, WE WILL SEE HOW IT GOES.
>> AGENCIES IN TERMS OF
MUNICIPALITY BUT ALSO HIS
PRIVATE MONEY GOING TO GO?
>> IN THE BEST IN ATLANTA FOR
EXAMPLE, PRIVATE MONEY, WOULD
DEFINITELY BE PART OF THE
EQUATION.
EQUATION.
EQUATION. IT IS HAPPENING AT THE END OF
THE BOOM, WE HAVE BEEN IN A
BOOM FOR A WHILE.
SO IF IT COMES MORE, DIFFICULT
TOWARD THE END OF IT TO HAVE
THE FUNDING SOMETIMES, TO KEEP
THESE IDEAS GOING, WE WILL SEE.
IT IS A DISCUSSION THAT NEEDS
TO BE HAD.
>> NOW, OUR PHOTO OF THE WEEK.
>> HAPPY BIRTHDAY, TO WALTER
BANGS ATLANTA BUSINESS
CHRONICLE'S, AFTER THIS IMAGE
OF A FORMER USHER FOR THE
ATLANTA BRAVES, TURNING 80 LAST
WEEK.
WEEK.
WEEK. WALTER BANKS SERVING THE TEAM
FOR MORE THAN HALF OF THE