Wave of apartment projects raises fears of new bubble

With high office vacancy rates and a glut of unsold foreclosures still hobbling the single-family market, hungry developers are making apartment deals across metro Atlanta.

They’re turning condo towers, parking lots and prime real estate along the emerging Beltline into multifamily units. Dante’s Down the Hatch, the landmark Buckhead restaurant, will soon make way for apartments. At one aging office tower, executive suites will be remodeled into a multifamily hotspot.

The developers are eager to capitalize on rising rents, high occupancy rates and the growing gravitational pull of Atlanta’s urban core. But the push could leave Atlanta with a glut of apartments and drive down other real estate prices.

Pick up Friday’s AJC or check out the tablet version for the in-depth story on why apartments are popping up across Atlanta - and why it matters to you.

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