Apartment boom is remaking Buckhead
Certainly this community of 45 neighborhoods can still brag of having an abundance of beautiful estates on rolling, wooded lands, but its skyline of office buildings is fast taking on a surrounding support structure of brick-and-mortar multifamily rental units housing the jobs market for those new and expanding businesses.
Yes, with the latest three complexes announced, we now have more than 11,000 units in development — announced, under construction or renting. This is an increase approaching 90 percent over what was on hand in January 2012 when this part of the recession started turning around.
The vast majority of these apartments are within a two-mile radius of Buckhead’s “downtown” commercial core. This will generate pedestrianization, bicycling, walking and Uber and Lyft lifestyles. Millennials want this freedom to sample and change favorite dining spots daily; living quarters and job places, too.
What is being built offers a quality of life unequaled in our metro area. “Supply and demand” will motivate the powers that be to do the dress-up for comfort. Sidewalks are being built (see Peachtree between Maple and Lenox roads), transportation is being provided (such as the Buc Shuttle and MARTA’s Peach). Bicycle paths are appearing and being used more as we write.
As a former Realtor and small developer, I can safely predict not all of the proposed complexes will come out of the ground. Sadly, some will wish they had not when they do not match the amenities of their competition.
To developers, I would urge acknowledgement that about half the population is female, so welcome this market and cater to its needs. Safety is a concern, so provide security foyers and around-the-clock cameras. Noise is a downer for all serious tenants the owner should want, so address this from the beginning, both at-hand and in window orientation.
I’m also a former president of the Atlanta Humane Society, so I make a plea for the pets, which are becoming even more prevalent throughout our community. Provide the runs and procedures for cleaning up after them. Plan lease restrictions that also address the issue when considering noise abatement.
No, it’s not your grandfather’s Buckhead. But don’t sell this generation short, as many in this demographic are downsizing to this appealing lifestyle. You will need to nurture their quality of life. It is true tremendous growth in population is dictating the development of rental units, but this won’t guarantee the occupancy ratio required by lenders. So don’t look lightly on competition, but strive to be the best, and you’ll fit right in with a Buckhead address.
It’s true apartment production is also now a hot item in Midtown and the Perimeter North areas, but when comparing, it would be well to verify location identification. In Buckhead’s case, all that’s needed is a request to the Buckhead Coalition (office@thebuckheadcoalition.org or 404-233-2228) to ask for a copy of “The Address of Choice,” which is updated whenever a development change is made public. It lists the project, address, floors, units, developer and status.
There is no guesswork. There are 37 complexes totaling 11,391 units as of April 24, 2015.
Former Atlanta Mayor Sam Massell is president of the Buckhead Coalition.
