Time to keep an eye on the area south of Atlanta still ITP

20 Replies

I'm referring to the areas in and adjacent to Arthur Langford Parkway up until Hartsfield-Jackson International Airport as well as adjacent areas. While this area has seemed to be neglected for years to cater to the city region of Atlanta, with all of the recent developments underway in Atlanta, development is reaching a lot of key areas still within 15-20 minutes of the city.

This area is comprised of Southwest Atlanta, East Point, College Park ITP, and Hapeville.


Just recently, East Point has announced it's plan to develop it's own Beltline, which will be referred to as the East Point Path. The project planning has been underway and the construction is expected to start within the next year or so. Some phase of the construction has already started (area where Southwest Atlanta and East Point meet). 

The areas near #11 and #10 is where East Point meets Atlanta, specifically Campbellton Road, which has been slated for growth, beautification, and Beltline expansion. The areas near #15 and #16, is where Camp Creek Parkway currently lies, and is near the neighboorhood Princeton Lakes, a sub division in Atlanta (almost sub city at this point) which has just been voted one of the country's hottest areas. The area near #8 is Downtown College Park, which is a healthy area of South Atlanta ITP (lets refer to it as that), and is adjacent to Hapeville, which is expected to be a prime real estate location due to proximity and amenities.

Here is a link to the master plan: http://www.eastpointcity.org/wp-content/uploads/20...

Just recently, there was a groundbreaking announcement that the City of College Park ITP would be breaking ground on a new convention center which will host the Atlanta Hawk's G League Team, concerts, graduations, conferences, and everything in between. This will be called the  Gateway Center at College Park. This arena is already located within the Georgia International Convention Center, which has had favorable opinions since it's opening, and hosts a range of amenities from hotels, to transit, to business space, to airport parking, to restaurants (few at this time however).  This arena is expected to be finished in Fall 2019. The overall GICC isn't finished development plans yet either, just FYI.

The Aerotropolis Atlanta wait is no more. It is finally coming into fruition as we speak. 

Now there a ton of plans with this one, but to summarize, the Board/investors want to make the area more walkable from the Airport to Camp Creek Marketplace.  There are plans for restaurants, shops, recreation, multi use trail paths, beautification, easing of traffic, more residential units, more business centers and the area hopes to attract those who enjoy living in the city, but also want a sense of space and greenery. I really think Camp Creek Parkway will lead a lot of changes and transform this side of metro Atlanta. Think midtown Atlanta meets Southwest Fulton.

Last but certainly not least...the AeroATL Greenway

Once just a thought, the AeroATL Greenway has picked up steam after the forwarding of the Atlanta Beltline, and in now in the midst of a $200k planning phase (not sure if the design phase is underway yet). The Greenway will essentially connect the areas closely bordering the perimeter with each other, as well as with the Atlanta Beltline itself.

The plan is to encourage more interconnectivity within metro Atlanta, specifically including the areas within 5-10 minutes of the airport. Think of it as the Atlanta Beltline's younger bigger brother. 

Now this is just an overview of what I've been researching over the weeks, but more is definitely soon to come. I see this area as having enormous potential. Massive potential. Eventually, I expect residents of Atlanta ITP and surround areas to not have to use a car to get from the bit more northern and eastern parts of the City of Atlanta to the Aerotropolis/Airport area. I see new technology being tried within the areas that have a lot of building potential. 

Also, just to mention, crime has gone down 20%-35% in the past 2-3 years alone within the  target area, and cameras have been installed to encourage and maintain public safety as we begin to experience a more walkable, enjoyable Atlanta metro

In saying all of this, it may be time to start checking out those other areas within the South Atlanta metro that have been neglected/avoided for so long. I expect the real estate markets in the City of East Point, College Park ITP, Hapeville, and Southwest Atlanta (city) to all drastically look different in 4/5 years time. Prices are still reasonable within the College Park, East Point, and Atlanta surrounding areas. I would take a strong look at what happens with this area over the next few years. If everything goes according to plan, I think we have the East Coasts first futuristic city.

I agree 100% that these are areas to watch and still undervalued - lots of potential. I’d add Cascade to the listed areas on the south side to watch. The only issue is the lack of good public schools...but that is an issue in most “in-town” Atlanta areas that are still affordable.

The Ft McPherson development plans make that area of east point look ripe for growth as well.

Great info, will keep an eye out on that area! There seems to be a lot of development near me as well throughout McDonough, and the public schools systems are better.

Originally posted by @Ericka Grant :

I agree 100% that these are areas to watch and still undervalued - lots of potential. I’d add Cascade to the listed areas on the south side to watch. The only issue is the lack of good public schools...but that is an issue in most “in-town” Atlanta areas that are still affordable.

The Ft McPherson development plans make that area of east point look ripe for growth as well.

The City of East Point probably has the most potential for R.E. investors. It essentially hugs Atlanta and you wouldn't need to drive on or even see an interstate to enter the city. Prices are still reasonable (70k-150k), and the city offers Camp Creek Marketplace and will offer the East Point Path as Grade A selling points. Princeton Lakes is literally within spitting distance of the City and all of the more affluent neighborhoods in Southwest Atlanta (30331 specifically) are along Camp Creek Pkwy. As I said above Camp Creek Pkwy will lead the development for this area, but the downtown and surrounding areas are starting to look more and more like sections of the new look East Atlanta. Downfalls here include the lack of choices for home styles and mundane home architecture, and then lack of street continuity once you hit below Stone Rd. I think we start to see more subdivisions along Camp Creek Pwky and Washington Rd in the future.

College Park (specifically 30337), offers potential to commercial developers and higher end residential developers (300k+). The downtown area is exactly what you would want out of a downtown following the massiveness of Atlanta's downtown, and this area can also be assessed without having to see an interstate. In fact, Northside Drive essentially turns into Main Street, which is the hub for Downtown College Park (after East Point), and is less than a 15min drive, maybe even 10 without traffic. Residential homes in this area are probably a bit harder to come by (all 140k+ with about 75% being in the 250k+ range). This area never truly took a hit, but with the soon to be overpricing/overcrowdedness of Atlanta lots, I expect developers to heavily target this area (along with East Point) for luxury condos catered to millenials, actors/actresses, and movie directors, and those more affluent looking to be out of the way, but still in the mix if you catch my drift, and then some regular residential lofts catered to those who work at the airport, in the City, or those who pop in and out of the city at will.

Your views on Cascade Ave are interesting though. In my opinion, there's never much inventory at all in this area because imo the families in this area weren't hit as hard during the recession since this has always been a more affluent area of the SW side. Above Cascade Ave where Beecher Street and Benjamin E Mays lie never really sees a lot of homes on the market which is likely due to its demographic. Beecher Street is a red hot spot though...anything on that street is likely subject to a bidding war. Everything south of Cascade with the exception of Adam's Park, Venetian Hills and some areas of Greenbriar are strong, but the rest holds a lot of potential. The village-like feel to this area can be a bit unattractive to some, just my opinion. But this is all residentially speaking. I see opportunity for commercial development along the street, specifically from the Golf Course to where the Kroger is, only issue is this whole street is essentially residential so there can be a lot of red tape with that. I can tell you one thing though...if the City ever finds out what to do with Adamsville, watch out...I've seen more inventory in Adamsville in the past 4 months than I've seen in the past two years...lets see if anything translate

I haven't heard much of the Fort McPherson development though, what's going on with that?

Originally posted by @Freddie Hudson :

Great info, will keep an eye out on that area! There seems to be a lot of development near me as well throughout McDonough, and the public schools systems are better.

I haven't heard much about McDonough and don't know much about it but would like to...kinda think its a tad bit too far for appreciation or millennial attraction though. 

Ft Mcpherson is getting a major overhaul in addition to the Tyler Perry studio they are planning a mixed use project with restaurants, condos, townhomes, businesses and a school - all walking distance to ft Mcpherson Marta station. Curious to see how it impacts the area: http://fortmaclra.com/

We just as some friends move to McDon - very nice but sooo far from the city. It’s a trade off I guess

I saw a lot of development and speculative investing back in 2007. When prices went up people were searching for yield or the next big thing ( area ) to pop.

My thought is if you have money to throw down the drain then speculating might not be bad. Example you have 2 million but want to take on 300k of debt in a maybe up and coming area and put 60k down. If it goes south and you lose half or more of the down payment it is not that bad. If you however are taking a big chunk of your money down in hopes you hit it big that is gambling and I saw many lose their shirts before.

A lot of these projects being talked about no all come to completion. Even if they start to build and a down turn happens the projects tend to stall out as developers cut their losses and run rather than lose more money and make money off of their other projects.

I know a lot of these commercial developers and how they think.

It's not my cup of tea but good luck to those who want to speculate.

Originally posted by @Joel Owens :

I saw a lot of development and speculative investing back in 2007. When prices went up people were searching for yield or the next big thing ( area ) to pop.

My thought is if you have money to throw down the drain then speculating might not be bad. Example you have 2 million but want to take on 300k of debt in a maybe up and coming area and put 60k down. If it goes south and you lose half or more of the down payment it is not that bad. If you however are taking a big chunk of your money down in hopes you hit it big that is gambling and I saw many lose their shirts before.

A lot of these projects being talked about no all come to completion. Even if they start to build and a down turn happens the projects tend to stall out as developers cut their losses and run rather than lose more money and make money off of their other projects.

I know a lot of these commercial developers and how they think.

It's not my cup of tea but good luck to those who want to speculate.

While I agree with a few of your points, isn't this this one of the core drivers to investing? Speculation? 

A large majority of the appreciation in Atlanta right now is due to speculation imo. Yet, investors are still making profits off of this speculation. Investors are also assessing the least risk and seeking the highest reward. International companies/investors are looking at the cost of land and development costs in Atlanta compared to other cities, like Boston, DC, NY, LA, and it's simply not worth those cities anymore. Cities like Austin, Nashville, Philly, Chicago, etc, have no where near the allure. Atlanta's growth (population growth, corporate growth, facility growth) to price ratio is like nowhere else in the country. There's no risk right now to companies. Hollywood has moved here, celebrities and movie stars have sold their homes in California and moved here, Facebook has moved here, Porsche has moved here, BMV has moved here, Mercedes Benz has moved here, GE, this is a top 5 city for millennials, the Beltline was spoken about, and then was enacted as was the new stadium, underground Atlanta was just bought for millions and will be completely reconstructed by 2020, the new Westside park will be open around the same time. These things are only months away or it's already happening or have happened. And that's without even mentioning the possibility of Amazon.

21 acres of land west to the airport in College Park (hugging East Point) was just contracted for 2.5M. That's a steal for even your everyday doctor or businessman. Compare that to another US city and we're talking 3 times the price for less than a quarter of the space.

Now I don't know who bought it, but it can be used for something like another car lot, or it could be used as a mixed development with retail, restaurants, and subdivisions. There's space to build office buildings, more headquarters, and even recreation. Almost every major city has its immediate sub cities within its limits which serves as an alternative to its core hub, and this is usually driven by the desire to be associated with the City, without being in the "mix" necessarily. I've seen it happen in NY, DC, and now it's coming to Atlanta, but combine that with the uniqueness of Atlanta compared to all other cities. 

All other areas within the same distance in ITP either take too long to get to, have no amenities to attract growth, or are totally priced out.

A few of the beltline trails have already been sectioned off or at least primed...that's pretty low cost in the grand scheme of things. Other things like beautification aren't that huge of feats either. It's the attracting people that is, and Atlanta has proven to be able to do that at the highest level, and that level is among us now.

In saying all of this, these areas I speak of are all within 20 mins of the major development that is hitting the city and are even closer than some parts of the Atlanta are to the development, and prices are still lower than most in some areas. 

Its all about preference of strategy. But I do know that your 220k isn't buying you 5 houses anywhere near 15 minutes of the city anymore, it may get you one...but, youre telling me that 220k may get me 4 homes just 20mins from the city, whether you get on the highway or the scenic route, AND there's promise of new development on the other side of me too? I'm definitely going with the latter.

@Mike H. Jones - Thanks for posting this information!  Completely agree, lots of potential in S, SW especially for buy and hold.

This post is greatly appreciated, especially for someone new to the state! With Atlanta hosting Super Bowl LIII, the possibility of Amazon's headquarters coming and money other developments that you've mentioned in the forecast; I've contemplated when redevelopment of south Atlanta would come to pass. 

Something truly to keep an eye on. Thanks once again

Best,

Fola

Thanks Mike! I appreciate this information since my company is branching out to Atlanta 😎

Mike,

Great information to know!  We will be watching closely.  Thanks for sharing.

Hey @Mike H. Jones , what are your thoughts on the Perkerson Neighborhood?  Seems to be an area that's starting to get some investors buying, but it's still pretty early.  This is the area south of Langford Parkway...not the Perkerson Park that's just north of Langford.  Too early to tell? 

Really like your write-up of everything that was South ITP.  VERY informative.  

Originally posted by @Jeremy Frank :

Hey @Mike H. Jones, what are your thoughts on the Perkerson Neighborhood?  Seems to be an area that's starting to get some investors buying, but it's still pretty early.  This is the area south of Langford Parkway...not the Perkerson Park that's just north of Langford.  Too early to tell? 

Really like your write-up of everything that was South ITP.  VERY informative.  

I've been seeing that there's been some steam picking up in Perkerson as well. I think it is a bit too early to tell for sure, but in my opinion, everything from the downtown to the airport will start to increase in value as the inventory shrinks, as nearby housing costs increase and as more quality homes start to leave the market. Just watching the market over the past few years/months, everything west of I-85 has already been "touched" so to speak, all the way from Ashview Heights all the way down to about Sylvan Hills, so it kind of looks like Atlanta is seeing the "running out of prime space" problem...at least for the core part of Atlanta (within 25mins of either midtown or downtown).

I don't have much knowledge on Perkerson as some other places, but from what I do know, its nestled pretty well between the soon to be heavily traveled (perhaps even heavily dense) Metropolitan Pkwy and Sylvan Rd, another street that can perhaps see a similar trajectory as Metropolitan Pkwy. It will be around the corner from the new Ft McPherson development which looks prime to attract a lot of development, and also near the Lakewood area and Amphitheater, which is a healthy area imo. It is also less than 10mins away from downtown East Point and College Park which are both developing its downtown's and building more condos to accompany those who do not choose to live directly in the city anymore/those who won't want to pay the uptick in rent that is likely to come soon.

It's also a short bikeride from the Atlanta beltline and what will be the new East Point Path...as I said, not too familiar on the layout of this neighborhood logistically, but from where its located, it looks like it can become an area which can pride itself on literally being 10mins from 3 downtowns in and 5mins from the beltline...but as I said earlier, not sure if the area demands this kind of attraction, or if it is just because investors are starting to run out of space.

However, in saying all of this, I think (what's left of) Sylvan Hills, Historic South Atlanta and Perkerson would be the best value investments outside of NW near Donald Lee Hollowell...I'd try to stay clear of East of I-75 (Atlanta portion) for now 

@Mike H. Jones This is great information. I just read about the AeroATL plans a day or so ago. I think this will increase activity in the area. My brokerage has sold 3 in East Point in the last 2 weeks so this will only increase interest. 

320-acre development set to take off by airport 

"The city of College Park is launching a $500 million-plus mixed-use development on 320 acres, with potential to create thousands of jobs and representing a major step in making the region’s “Aerotropolis” vision of concentrated development around Hartsfield-Jackson Atlanta International Airport a reality.

The development site is on the north side of Camp Creek Parkway, west of Interstate 85 and Hartsfield-Jackson and across from the Georgia International Convention Center. About 250 acres are developable, with the remainder including the city’s nine-hole golf course and green space.

There is enough land available to accommodate Amazon.com Inc.’s proposed HQ2, which requires 100 acres and 8 million square feet. The project was not ready in time to be included on the list of suggested sites Atlanta and Georgia submitted to the online retail giant in 2017, but nonetheless the welcome mat is out if the Amazon advance team should choose to return.

At least one other corporate headquarters is interested.

The project can also connect to the Atlanta Beltline through the extension of existing trails and completion of trail projects already underway in the Aerotropolis area.

sked for a low estimate of jobs potentially created, Jones cited 3,500-5,000. The mayor thought 5,000-plus was conservative.

The project will include 4 million square feet of office, including corporate office, international headquarters, laboratories, medical and medical office; 1,000 keys of hospitality; 600,000 square feet of retail and entertainment, including street front retail, neighborhood shopping centers, freestanding retail, restaurants and entertainment; and 1,000 units of residential including townhomes, single-family, senior housing and multi-family, with price points from $200,000 to $400,000.

The development’s amenities will include multiple public spaces, multi-use nature trails connected to a regional trail system, and autonomous electric shuttle vehicles connecting the development with the Atlanta Hawks’ G-League arena, GICC and the airport. College Park has a grant to build a bridge from the GICC over Camp Creek Parkway to a walking path to the MARTA station. A transit study includes looking at extending the Skytrain to the development, and throughout Aerotropolis."

Article originally from Bizjournals (locked for membership via the site)

I'm excited to see what this becomes. The steam coming too Atlanta is too much to wait on development imo. I believe the development will be along/between Hershel Rd and the airport parking opposite the GICC. Huge news nonetheless. I remember reading something about it back in February, but figured it was only hearsay at the time. This article checks out though, read a lot of the same stuff in the previous article.

The mixed used development, office space, restaurant and shopping space and recreation space should bring a lot of attraction to this area. The much needed housing that is planned for the development will be the icing on the cake imo. Can't wait to read more and see what comes from this.

  

So apparently the price points for the residential homes in the newly announced 320 acre development will have price points from 200k to 1M. Hard to see townhomes being able to ask for 1M, but I suspect there will only be around 5-10 of these homes with this price point out of the 192 planned units. I envision this area as being a hotbed for movie stars, executives, and other high profile individuals who pop in and out all of the time. 

New townhomes off of Main Street in College Park were recently announced. Price points start at 300k and the development is expected to be complete around late 2019. Main Street turns into Northside Dr just 15mins up the road, so the development in this area is only bound to increase and expand. Not to (re)mention the 320 Acre development directly off of Main Street, Airport City College Park.

The Aerotropolis Alliance has also conducted transit studies to assess the feasibility of transit in the area. What I know know is that the Skytrain will extend from the Airport and surrounding areas, across Camp Creek Parkway, to Airport City. They are also considering heavy rail  along Camp Creek Parkway, as well as autonomous vehicles and aerial tramways.

What makes this area fascinating is that you have a lot of ground to be creative. Should be interesting to say the least.

Construction of Airport City College Park is expected to start in late 2018, and to take about 24 months to complete. This will be an interesting anchor.

I would like to add to this discussion the flip side of things. With all this development going on we must also think of what is going to happen to the "bad elements" that are currently in these "up and coming areas".  They are going to be pushed probably further south to the towns Riverdale, Jonesboro, Morrow, Stockbridge, Griffin and Stockbridge. Just my thoughts.

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