ATLANTA – Boomers and Millennials are far apart in age but totally in sync when it comes to what is most important to them in a home – walkability and easy access to retail and attractions. Their desires are fueling metro Atlanta’s booming multifamily market.
“These two giant demographic waves are converging with the same interest at the same time. It’s a really powerful, powerful demographic change,” remarked Norman Radow, CEO, The RADCO Companies.
Mr. Radow was a panelist at the recent Bisnow event “Atlanta’s Multifamily Boom: The Live-Work-Play Model.” Daniel Bradfield, a partner in Arnall Golden Gregory’s Real Estate Practice, moderated the discussion.
Other panelists were Matthew Teague, development director, Walton Communities; Christopher Martorella, president, Integral Group; Krista Dumkrieger, project architect, Cooper Cary; Fred Schreiber, SVP, AMLI; and Mark Toro, partner, North American Properties.
Although many people want to live close-in, affordability is an issue.
“That’s the challenge in urban environments,” Mr. Martorella said. “On the high end what we try to focus on is great design, great efficiency, smaller units. Bring the price point down to a point where more people can afford it.
“At the other end of the spectrum, we work closely with the cities to try to get more affordability into the urban environment.”
Mr. Bradfield asked the panel what’s new and exciting in the next 18 months.
Mr. Teague responded transit-oriented development. “We have an exciting partnership with MARTA and have found a unique place to build next to King Memorial Station,” he said.
Mr. Martorella seconded Mr. Teague’s comment. Integral’s huge “Assembly” mixed-use development at the site of the former GM plant in Doraville is adjacent to a MARTA Station.
Mr. Bradfield represents owners, developers, landlords and tenants in the acquisition, disposition, development, financing and leasing of numerous types of commercial real estate.
Arnall Golden Gregory’s Real Estate Practice is one of the largest and most experienced in the Southeast.
About Arnall Golden Gregory LLP
Arnall Golden Gregory, with more than 150 attorneys in Atlanta and Washington, DC, employs a “business sensibility” approach, developing a deep understanding of each client’s situation in order to find a customized, cost-sensitive solution. A past honoree on The National Law Journal’s prestigious Midsize Hot List, the firm advises on corporate, litigation, regulatory and immigration matters for numerous industries, including real estate, business services, healthcare, life sciences, logistics and transportation, franchising, information services, energy, and manufacturing. AGG is a solutions partner that subscribes to the belief “not if, but how.”
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