Multifamily developers are vying with single-family homebuilders for choice lots in almost every part of the metro area, from Kirkwood, Edgewood, East Lake and East Atlanta to suburban Dunwoody, Brookhaven, Emory, Doraville, Chamblee, Tucker, Stone Mountain and Pine Lake.
The overall median sales price increased by 11% to $198,000 in 2004 from $176,220 in 2003, according to the property appraiser's office. In Decatur, the median price is up by 6% to $270,000.
The county estimates that 57% of all shelter product surfacing this year will be in townhouse and condominium units. Townhome and condo construction last year made up only 31% of all new housing starts in the metro area.
The county clearly buys into the new housing profile in that officials are approving a mix of zoning changes, pedestrian-oriented ordinances and tax incentives designed to encourage the development of medium and high-rise residential projects that offer street-level retail within walking distance of restaurants and public transit, county staffers confirm for GlobeSt.com.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
