Construction for a new retail and mixed-use development called Emory Point has been developing during the past year along Clifton Road near Emory University, and its opening has been anxiously anticipated.
Emory Point is now open and features an attractive main street with shops like Strippaggio, carrying artisan oils, vinegars & specialty foods, Fab'rik, and Lizard Thicket, as well as popular local restaurants like Bonefish Grill and Marlowes Tavern.
While not all facilities are open yet, CVS Pharmacy, Jos. A. Bank Clothiers and Ann Taylor Loft, plus a dry cleaner are open for business and 21 shops and restaurants will be available when the project is completed. Limited parking is available along the street with credit card payment, and free 2-hour parking is available in he present parking deck. There are plans for an additional parking area when the complex is finished.
Originally envisioned as a major condominium and shopping environment by Cousins Properties, partnering with Gables Residential, the project was delayed due to the economic recession. The residential aspect has been altered to offer leasing options instead of condos. Gables Emory Point is a luxurious apartment development with dozens of available floor plans, an elegant Club House and Business Center.
Located across the street from the Centers for Disease Control and surrounded by Emory University Campus and the Emory Healthcare complexes, Emory Point is within walking distance for employees in the community and easily accessible by Emory's free shuttle service, the Cliff bus. It should prove a popular lunchtime and evening destination for Emory area neighbors as well.
Atlanta Decatur Homes is a local real estate company serving buyers and sellers in the Emory, Decatur and Atlanta in-town neighborhoods for over 25 years.
It’s no secret that Atlanta and the surrounding area have endured a difficult real estate market during the past 4-5 years. Atlanta has had one of the highest number of foreclosures and short sales in the country, but is experiencing a dramatic change.
Prime Neighborhoods Improve
With the economy slowly recovering and the housing market improving as well, some parts of the Atlanta real estate market like the Emory University, Virginia Highlands, Buckhead and City of Decatur neighborhoods are seeing multiple offers and rising sales prices.
Foreclosures and short sales in the Atlanta area
Another area of the Atlanta housing market is also showing marked recovery and interest.
For buyers seeking a foreclosure or short sale under $200,000, the competition has changed. According to an article in the Atlanta Journal-Constitution by Christopher Quinn, “Metro Atlanta’s depressed home prices are drawing the interest of a new type of buyer – companies that buy houses in volume.”
Several companies with billions in cash to spend on investment properties are buying foreclosure and short sales in all parts of the Atlanta metro area. Competition is fierce and many properties have multiple offers, making it difficult for individual home buyers to purchase a home in this price range.
Some realtors like Sandy Bowley of Realty Associates are working almost exclusively to find appropriate homes for these investors. “It’s a race to find qualified homes and by the time you have checked them adequately, the property has three other offers”.
While this type of competition increases property values and improves the housing outlook, it forces many prospective individual buyers out of the market and into a rental situation. Investment companies are buying in a frenzy, then holding properties until the market improves, or leasing them for the immediate future.
More single-family investment properties will soon be available, as homes are repaired and offered for lease by the companies that are spending billions to invest in the area. It appears that the Atlanta Rental Market will have ample housing opportunities in the future.
Atlanta Decatur Homes is a local real estate company providing Rental Management Services and representing buyers and sellers in the Atlanta, Decatur and Emory University neighborhoods for over 25 years.
The recent economic reality of plummeting home prices, increased foreclosures /short sales, and restrictive home loan requirements has changed the real estate landscape. Public perception has been dramatically influenced by events of the past four years.
Almost everyone has been affected - homeowners, home buyers, job seekers, renters, investors, mortgage lenders.
While many in-town neighborhoods like Emory, Druid Hills, Virginia Highlands and City of Decatur are enjoying a healthy rebound in home prices and activity, some prospective home buyers are reluctant to embrace home ownership. After years of lost property values and uncertain economic stability, many buyers have decided to rent rather than purchase a home. And, an influx of former homeowners who have lost homes to foreclosures or short sales are now moving to rental properties in the area.
So, how are we doing? Rental properties in good neighborhoods in Atlanta seem to be doing just great. According to David Haddow, President of an Atlanta real estate consulting firm, "the average rental occupancy rate for intown neighborhoods remains very high at 96.9%."
Why Rentals are Popular Today
Neighborhoods near Emory University attract graduate students, professors, medical workers, retirees, and young couples. Rental properties in good neighborhoods are in high demand and rent prices are increasing every year. Here are some rental statistics published by the FMLS multiple listing service in Atlanta:
Emory Area/ Rentals Available January, 2013
Neighborhood $1500-$2500 $1000 - $1500 $800 - $999
Fernbank Elem 2 4 0
Druid Hill 14 19 3
Clairemont-City of D 4 1 0
Oak Grove Eleme 1 2 0
Briarlake Elem 2 1 0
Emory Area- Properties Leased January 2012 - January 2013
Fernbank Elemen 19 9 3
Druid Hills H.S. 92 126 43
Clairmont -City of Decatur 11 14 3
Oak Grove Elementary 22 7 0
Briarlake Elementary 9 4 0
The rental market in the Atlanta area inside the Perimeter appears to be thriving and prospects for the near future look promising. Investors and homeowners who are renting their homes until home prices improve in these areas should be encouraged that a ready rental market will be available for some time to come.
Atlanta Decatur Homes is a local real estate company providing professional Property Management Services, and representing Buyers and Sellers in the Atlanta, Decatur and Emory University Neighborhoods for over 25 years.
Druid Hills is one of the most desirable Atlanta neighborhoods, located just a few miles from downtown Atlanta in unincorporated DeKalb County, and bordered by wide, curvy Ponce de Leon Avenue.
The Historic Druid Hills neighborhood was originally developed in the early 20th Century by a local businessman who hired the famous landscape architect, Frederick Law Olmstead and his son, to design and implement the development of the area. Wonderful foresight produced lovely winding streets, overhanging trees, neighborhood parks and gracious homes along streets like Lullwater, Springdale and Oxford. For a more comprehensive history of the area, Druid Hills resident, David Hartle, has written Druid Hills, A Brief History.
Architectural styles in the area include stately Georgian and Tudors, as well as more humble Bungalows. Flowering Dogwoods and Azaleas are a trademark and present on most of the streets in Druid Hills.
A recent facelift and roundabout has enhanced Emory Village and the entrance to Emory University, which are located in the Druid Hills Historical District. Once a bottleneck, traffic now moves easily through the intersection and into the area. Pedestrian traffic enjoys continuous walkways through the intersection and is a pleasure to transverse.
Emory Village is small with several popular restaurants, drycleaners, bookstore and limited parking. It is located adjacent to Emory University and is a lively, bustling destination.
The main entrance to Emory University is located in Emory Village on the roundabout. Emory University was originally founded by a small group of Methodists and was named in honor of Methodist bishop, John Emory. According to Wikipedia, the university has nearly 3000 faculty members and almost 14,000 students. U.S. News & World Reports placed Emory at 20th in national university rankings in 2012. Emory has a beautiful campus with old trees and extensive green space. Several years ago, Emory opted to become a pedestrian only campus and instituted the free Cliff shuttle system for students, faculty and staff. The Carlos Museum is located on the campus and houses one of the most comprehensive art collections in the SE.
Atlanta Decatur Homes, a local Atlanta real estate company, selling homes in Atlanta, Druid Hills, Decatur, Medlock Park, and Emory University neighborhoods for over 25 years. Professional Rental Management services are also offered.
The Dog Park
Decatur, Georgia is one of the loveliest small cities in the Atlanta area, well-known for its walkability factor, for charming Decatur homes, friendly neighborhoods and fine restaurants and shopping. It’s also a dog-friendly city with some great local Decatur Dog Parks.
In a comprehensive article by Wikipedia, the Dog Park is described as “ a facility set aside for dogs to exercise and play off-leash in a controlled environment under the supervision of their owner.
Dog Parks are popular everywhere, offering safe exercise areas for dogs and an opportunity for owners to gather and socialize while their dogs play. Several excellent Dog Parks are located in neighborhoods around the Emory University area in Decatur, Ga:
Mason Mill Dog Park – N. Jamestown Road Decatur, Ga. – Recently renovated – Flat open space with double fences, adjacent parking, water fountains, baggies and trash deposit plus a covered picnic area. Could use more benches.
Glenlake Dog Park – 1121 Church Street, Decatur, Ga. – Recently renovated – smaller Dog Park within the larger Glenlake Park with water fountains/baggies and trash deposit and a covered picnic area. Suggest entering off Church Street by the Pool and Tennis Courts, as the other entrance is a bumpy ride over stones. Good Parking
Adair Dog Park – Trinity Place next to Mary Gay House, Decatur, Ga. – This large park is one of the more appealing with benches and abundant shade – double fences/water fountains/benches/baggies and trash deposit. Limited parking but handy.
What Makes a Good Dog Park?
The Association of Pet Dog Trainers lists several points that constitute a Good Dog Park on their website. Good Dog Parks generally have the following:
Is Your Dog Ready for a Dog Park?
Dogs come in all shapes and varieties. Some are quiet and shy, some are friendly and outgoing. Aggressive dogs are not generally welcomed in dog parks and basic obedience skills are desirable. Your dog should be able to respond to basic commands, particularly the recall command. It also helps if your best friend is friendly with all types of people and has a history of amiable play with other dogs. Dog parks may be intimidating for pets that are less than 5 months old.
Visit one of these convenient Decatur Dog Parks when you have an opportunity – your dog will thank you!
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