Primarily home to much of Atlanta’s city government facilities, the campus of Georgia State University, and the Atlanta University Center, recent years have brought renewed interest in the unrealized potential of Atlanta’s Downtown. Residents have seen the construction of the new $1.6 billion Mercedes-Benz stadium, home to 2018 MLS Champions Atlanta United; $192 million State Farm Arena renovation; and $25 Million expansion of Centennial Olympic Park to include World of Coca Cola, The Center for Civil & Human Rights, and the Georgia Aquarium. In addition, relatively lower housing cost compared to nearby Midtown and the rapidly rising housing costs of Historic Intown neighborhoods have attracted a significant number of revitalization efforts in downtown districts like Five Points, Vine City, Fairlie Poplar, and Castleberry Hill currently valued at over $10 billion. Historic buildings are being renovated for hotels and fine dining establishments and many of the abandoned, dilapidated, or underutilized buildings have been purchased by major developers intent on changing the face of Downtown with a variety of adaptive-reuse projects offering residential condos, lofts, and apartments in addition to retail, hotel, office, and restaurant spaces. The redevelopment of the historic “Hotel Row” on Peachtree Street, Underground Atlanta, Artisan Yards, “The Gulch”, and others are already having a transformative impact on the area. Property values are rising and predicted to continue as these developments progress. In short, Downtown is a hot market with an abundance of opportunity for both investors and those interested in staking their claim to a vibrant, diverse, and rapidly appreciating community of professionals, artists, and entrepreneurs.
South & Southwest of Downtown
South of I-20, the southern boundary of Downtown, you’ll find a number of working class communities that are on the road to gentrification including Adair Park, Mechanicsville, Summer Hill, Peoplestown, Pittsburgh, Chosewood Park, and Capitol View. Their location between Downtown and the “Aerotropolis” of East Point, College Park, and Hapeville that surrounds Hartsfield Jackson Airport is driving momentum as other popular areas have become oversaturated. Comprised mostly of single family homes and small multi-family properties, South Downtown is highly attractive to investors looking for lower cost flips inside the perimeter. It is also popular with Downtown residents looking for affordable opportunities to expand their families and enjoy more space while staying close to the amenities they are used to.
DOWNTOWN ATLANTA Properties
Last updated on Oct 31, 2020 8:09:am.
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