The Streets of Buckhead, a behemoth developmental project led by Atlanta commercial real estate pioneers Ben Carter is slated for completion in 2010. This massive development project is completely restructuring Buckhead Village, transforming it from a quaint community into a min-metropolis replete with high-rise office buildings, world-class hotels, fine dining restaurants and dozens of boutique shops and retail spaces. The Streets f Buckhead will encourages visitors to Atlanta and residents alike to share in one of the southeast’s best cities.
Buckhead’s economy, despite some struggles, remains vibrant. This mainly is due to its prosperous population, a demographic whose median household income extends past 0,000, where average homes sell in the 0,000 range. The Streets of Buckhead development promises to bring global interest and will generate millions of revenue dollars from tourism, entertainment and culture.
Commercial property is a hot topic in Buckhead. The Atlanta Journal Constitution recently ran an article about the situation.
About 2 million square feet of office space is under construction in Buckhead, which an unnamed commentator called goofy in an Urban Land Institute report released in November.
Grubb & Ellis says this year will be a poor one overall for the office market.
ÒEmployment growth drives demand for office space and the labor market will be shrinking in 2009, said Robert Bach, senior vice president and chief economist. Government and health care will be among the few sectors with growing demand for office space.
With so much development on the horizon it is easy to grow excited, and hopeful. Buckhead truly has good things in store for its future. It is also an exciting time to explore residential property. This takes time. It is important to immerse yourself in the community, learning the neighborhoods, the people, the parks and restaurants. All of this information will guide you as you narrow your selection for which home to buy, where to rent an apartment. Home prices are still expensive, despite the downturn in Atlanta’s real estate market. But it is an opportune time to rent, with thousands of apartments, in numerous neighborhoods, available for your perusal.
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