PERIMETER BUSINESS
variables," such as job growth and
low interest rates, also remain pos
itive. In addition, inventory con
tinues to remain relatively low,
so properties that are properly
priced, that are in excellent condi
tion, and aggressively exposed to
the market typically sell quickly
I anticipate this trend will con
tinue for the next two to three
years, at which point we will be
back to pre-recession levels.
Q Multi-family development
appears to have returned to
the Perimeter market in a big
way. What's happening with sin
gle-family development?
/V The challenge the Perime-
'* ter area has in regards to sin
gle-family development is there
just isn't a whole lot of available
empty land in the area anymore.
Therefore, in order to create addi
tional households, you are seeing
more development "vertically"
versus "horizontally." However,
we are beginning to hear saws and
hammers in and around the Pe
rimeter area as developers are
finding little pockets to build
small, single-family develop
ments.
Q What types of homes do
you believe will be in the
greatest demand in the Perimeter
area in the future?
/V I would anticipate seeing
' * more condo / townhome de
velopment close to the shopping
and business districts move for
ward as the whole notion of "live,
work, play" continues to be a pop-
“Regarding what drives
home sales in the Perimeter
area, there are a number
of factors: access to good
schools (both public and
private); the Perimeter
Mall area and surrounding
shopping venues in general
that offer a multitude
of choices; the high
concentration of office
and commercial space
that attracts hundreds of
companies to the area and
thousands of jobs; and
convenient access to a
number of major surface
streets and highways
allowing quick access to
other areas of Atlanta.”
- Todd Emerson
ular theme.
However, the area in general
has always been known as a bed
room community, and because of
all of the positive factors I men
tioned earlier, it will always be
a draw for a variety of different
buyers who desire a single-fam
ily residence. For that reason, I
would expect future purchases to
include folks who intend on either
renovating or adding to existing
homes, tear-downs and rebuilds,
or buyers appreciating the variety
of architecture available in the Pe
rimeter area and the charm asso
ciated with those property types.
Regardless of the property type, I
fully expect the Perimeter area to
continue thriving as a "home des
tination" for a multitude of buyers
for a very long time.
Please join us for BBA's
June Breakfast Events!
Time: Thursday mornings, 7:30 AM - 9:00 AM
Location: City Club of Buckhead
3343 Peachtree Road, Suite 1850, Atlanta
Cost: $10.00 for BBA Members, $20.00 for Visitors and Guests
Cost includes validated self-parking
Upcoming Events - Mark your calendar!
June 7, 2013 Dr. Rajeev Dhawan, Director of Economic Forecasting for the J. Mack
Robinson College of Business
June 20, 2013 Virginia Hepner, President and CEO of Woodruff Arts Center
June 27, 2013 Jeff Woodward, Founder of Atlanta Community Toolbank
Georgia bank official: State's
banks appear 'stabilized'
after recession
By Joe Earle
Georgia banks appear to have
"stabilized" after the recent econom
ic downtown, a representative of the
Georgia Bankers Association told Pe
rimeter business leaders.
"In 2012, more of our state banks
were profitable," Bankers Associa
tion Vice President David Oliver told
the PBA members. "It's very encour
aging."
Oliver said that 74 percent of the
state-based banks in Georgia report
ed profits in 2012, compared with 60
percent the previous year.
Georgia banks were hit hard dur
ing the recession and scores of banks
closed. But Oliver said that only two
banks had closed so far this year,
compared with 10 last year. He said
the percentage of loans to banks that
were reported as past due has de
clined for 11 consecutive quarters.
Oliver spoke May 10 as a member
of a panel addressing the Perimeter
Business Association during a meet
ing at The Retreat at Perimeter Sum
mit.
Panel members discussed bank
ing, finance and investment in the
Perimeter area, which includes por
tions of Sandy Springs, Dunwoody
and Brookhaven. Other panelists
were Christina Parks, vice president
of private banking for Morgan Stan
ley Private Bank, and John A. Heagy,
senior managing director for Hines,
a development, investment and
property management firm.
"The Central Perimeter submar
ket has come into its own in the last
12 to 18 months," Heagy said.
He said 125,000 people now work
in the Perimeter area. "That's just a
staggering number," he said. He
said companies such as AirWatch, a
technology firm, and State Farm are
expanding operations in the area.
"Ten or 12 years ago, this was not
the profile of this submarket," he
said. "It had a much lower profile."
Greater Perimeter
BUSINESS EXPO
A collaboration between the Dunwoody & Sandy Springs/Perimeter Chambers
to all of our 2013
Exhibitors and Sponsors!
We had another
great business expo
thanks to you.
From the Greater Perimeter Business Expo Team
Sandy^e
PRINGS
GEORGIA
PERIMETER BUSINESS
\um
ALLIANCE
Dunwoody
^Smart people - Smart city#
Reporter Newspapers • EEP Events • Northside Hospital
Saratoga Events/Avenue Catering • Piedmont Heart Institute • Bank of North Georgia
Crier Newspapers • Wells Fargo Bank* Mercer University *The Atlanta Jewish Times
DeVry University • BB&T • Neighbor Newspapers • Dunwoody CVB
The Atlanta Journal-Constitution
www.ReporterNewspapers.net | MAY 31—JUNE 13, 2013 | 11
