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A Billion Dollar Facelift For Atlanta
Long known as a sprawling concrete jungle, Atlanta is finally getting a swanky new makeover. Last week two of the biggest names in real estate announced plans to create a massive development project in the Midtown area of the city. Spread out over three blocks, the new project will include office space, luxury hotels, high rise condominiums and luxury boutiques.
At least six more such multi billion dollar projects are in the pipeline. Atlanta has always been known for it’s office space and the city’s skyline is well known. However, there have not been any mixed use projects that are increasingly finding favor in urban areas across the country. The goal is to create chic, walkable neighborhoods along the lines of New York and Chicago, encompassing office space, trendy restaurants and upscale boutiques.
For a long time, the city’s office and residential space was concentrated in the outer suburbs. Recently, however, there has been a marked shift from the suburban areas to the city as more and more young professionals move to the city for employment. These young, college educated professional create a demand for increased downtown recreational activity. Their presence has also bolstered the demand for residential towers in the city center. Adding to this exodus are retirees moving to the city to avoid the long commutes from the suburbs. Most of the retirees in all probability, spent their office-going years commuting to and fro and in their golden years prefer to move to the heart of the city.
About the writer: Nigel Kerry is an American free lance
writer born in Los Angeles, California. Kerry writes about
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