PERIMETER BUSINESS
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The Axis Apartments stand among luxury complexes in Dunwoody.
High-end apartments try to lure
new tenants with the 'wow factor'
CONTINUED FROM PAGE 14
built in the area. Their names are
chosen to demonstrate their sophis
tication - names such as the Wind
sor or the Goodwynn in Brookhaven;
The Heights, The Drexel and others
in Dunwoody; The Stratford or Alta
Glenridge Springs and others in San
dy Springs.
"In the past 12 years,
Perimeter has developed
from a heavily-congested,
primarily office, hotel and
shopping district into a vi
brant, livable mixed-use community
with improvements in traffic flow, air
quality, economic development and
quality of life," said Yvonne Williams,
president and CEO of the Perimeter
Community Improvement Districts.
Ron Cameron, senior vice pres
ident in the invest
ment services group at
Colliers International,
called the Perimeter "an
area that is very vibrant,
that has a lot going on
and is very sought-af
ter by institutional in
vestors."
"One of the appeals
to that market for a lot
of renters and home-
owners is you feel like
you're in the city and
[still] you can get any
where you need to," said Cameron,
who has lived in both Sandy Springs
and Dunwoody. "There's certainly a
lot of interest in it, for sure."
Cameron predicts that more apart
ment projects will be developed in
the area. "I see development continu
ing through the year, but I think it's
going to be very, very selective," he
said. "Not the number of units you
had in the go-go years."
Some elected officials, especially in
the city of Drmwoody, complain that
too many apartments have been al
lowed in the area in the past, and that
long-time residents have been forced
to watch as older apartments have
declined in value and hurt
the commrmity.
But Reid argues that kind
of decline is unlikely in the
future because many of the
apartments now being built
are designed for young singles or
couples and won't attract large fam
ilies. "All the stuff being built now
is smaller," he said. "Just by design,
you are not going see as many fami
lies moving into the properties being
built now."
And the Perimeter
area remains a strong
draw for renters and
developers because of
its proximity to three
MARTA train stations,
1-285 and Ga. 400, and
due to the community's
urban feel, developers
say. Apartments in the
Perimeter market com
mand rentals of more
than $1,000 a month
and can reach $2,000 or
more a month, accord
ing to listings.
"The trend in the market now is,
you'll hear the term 'core communi
ty/" said Michael Blair, managing di
rector for development for Pollack
Shores Real Estate Group. "For us, it
means [Perimeter offers] for our res
idents' experience a good core loca
tion, with good proximity to retail
Cover
Story
Trisha Ring
14 | JAN. 25 —FEB. 7, 2013 | www.ReporterNewspapers.net
