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54 September 2016 | ITT
AtlantalNtownPaper.com
On the Rise
Condo & townhome market surging again Intown
Democracy in Real Estate
Empire Board ofRealtists marks 77th year
Continued from page 52
and John Wieland Homes is building the
Square at Glen Iris. Edward Andrews Homes
has a new development going up in Grant
Park, and several more will be appearing on
Moreland Avenue and Memorial Drive.
Three new attached residences are planned
in Midtown on 6th Street. “Numerous
smaller communities will be popping up with
as little as two units, since the R5 zoning in
the City of Atlanta allows developers to build
two attached units on lots that were more
likely to be occupied by one single family
home,” Eaves explained. He advises potential
buyers to get in early, since most builders and
developers are selling out before construction
starts.
“I think what you see drawing attention
right now are the luxury condo buildings,”
Burell said. “One reason for this is that the
construction cost for new major buildings is
so high. Since developers have to list condo
units at the high-end of the market to recoup
building costs, we are seeing some amazing
projects.”
Those amazing projects include: One
Museum Place, the John Wieland project on
Peachtree Street in Midtown; the recently
completed Seventh Midtown, with retail
space housing one of the first Starbuck
Reserve concept locations in Atlanta; and
1065 Peachtree, with residences above the
Loews Hotel that feature amazing views and
amenities.
One proposed condo building in
Midtown is poised to dramatically alter the
city skyline: at 74-stories, 98 Fourteenth Street
would become the second tallest building in
Atlanta behind the Bank of America Tower.
Olympia Heights Management and Perkins
+ Will said the first phase of the development
would feature the main tower comprised of
382 luxury condo units, 180 corporate suites,
60,370 square feet of retail and 825 structured
parking spaces. A second, smaller tower in the
future would contain a hotel.
According to Burell, there’s a major need
for new projects in a lower price category,
specifically condos and townhomes that target
buyers in the $250,000 to $400,000 price
point.
Schwall said that townhomes still
lead the charge for new construction
development in the Intown markets. “Thirty
new townhome projects are proposed this
year, which will bring 1,587 new units.
Townhome developers are snapping up infill
lots in trendy neighborhoods, such as 04W,
that are bustling with activity because of
the popularity of the BeltLine, Krog Street
Market and Ponce City Market.”
Two notable new condominium projects
coming to market this fall are Emerson
Buckhead and The Charles. Developed by
JPX Works LLC, Emerson Buckhead is a
visually striking, 19-story building located
at 2520 Peachtree Road that features 41
residences from 2,200 to over 8,000 square
feet. The Charles, a newly announced
Continued on Page 57
ByShandra Hill Smith
Excitement is building toward the long-
running annual scholarship gala for the
nation’s oldest minority trade association.
But as the Empire Board of Realtists — the
Atlanta chapter of the
National Association
of Real Estate Brokers,
Inc. (NAREB) — gears
up for the Nov. 5 event
at The Ritz-Carlton,
it also faces what may
be considered a less
than celebratory reality.
A reality that may
actually be, in large
part, the reason for
the rich history of this
organization marking its
77 th year.
The Empire
Board of Realtists
(EBR) today finds
that its core objective
of “Championing
Democracy in History
is still quite relevant,
according to 2016
president Sharon Henry.
“As long as there is injustice and
inequality in the realm of homeownership,
there will be a need for Empire and
NAREB,” says Henry. “And when equality
has been achieved, the objective will
then shift from obtaining to maintaining
Sharon Henry, William Robie and
chelle Calloway of Empire
Board of Realtists.
24 New 04W Townhomes
Starting in the $300's
Join the VIP list today v , - A _ „
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democracy.”
On Jan. 1, Henry began serving her
one-year term, which ends Dec. 31. She
says her presidency is primarily focused
on revitalizing and reinvigorating the
organization on a local level.
“Great things have been accomplished
by this board, and I
plan to continue to
develop and implement
new strategies, tactics
and initiatives that
provide our member
base and constituents
with new and exciting
opportunities, while
aligning with our
national goals,” says
Henry, a Realtist and
broker. “NAREB has
a strong infrastructure
and a host of pillar
affiliates. I don’t intend
on reinventing the wheel
within the organization,
just adding new,
fresh perspectives and
‘spins’ on what is already
established.”
As an example, she
pointed to the launching of the Empire
REIA — Real Estate Investment Alliance, a
division of the United Developer’s Council
of NAREB that “will provide our member
base with education and tools necessary to
partake in the investment arm of real estate.
Adding this skill set to their wheelhouse will
allow Realtists and all types of real estate
practitioners (appraisers, contractors, etc.)
who are part of our board to diversify their
knowledge and wealth, while improving the
communities that they serve and represent.”
Since 1958, EBR has held an annual
awards and scholarship gala, awarding more
than $500,000 in scholarships to high
school, college and graduate school students
as well as students obtaining professional
real estate-related training who have gone
on to become industry leaders in the public
and private sectors throughout the country.
EBR, which is headquartered in historic
West End, has adopted the mission of
Reimagining the Dream of Homeownership
through Advocacy, Activism and Action.
It began with African-American real estate
professionals forming NAREB after growing
dissatisfied with housing conditions
for blacks in Atlanta and being denied
admission as Realtors into the National
Association of Realtors (NAR). The term
Realtist resulted as a way to distinguish the
professionals, some of which today also
are Realtors, as being under the NAREB
umbrella. Since its inception, the Empire
Real Estate Board, Inc., and more than 90
boards nationwide have joined NAREB as
local chapters, says Henry.
A current focus, Henry shares, is to help
create two million homeowners over the
five-year period of 2016 to 2020.
“Empire Board and NAREB will always
remain relevant because homeownership
will always be a critical medium to having
access to a piece of the American pie,” adds
Henry.
For more information, visit
empireboard.com. DU