Real Estate Law360 Expert Analysis—"Arrested Redevelopment"

Law360, New York (November 09, 2011, 7:44 PM ET) — Up and down Peachtree Street, Atlanta—Georgia’s glitzy artery near our firm’s offices—only a few years ago cranes speckled the skyline as monuments to groundbreaking ceremonies that occurred long before anyone knew of the economic downturn that loomed. The cranes hovered over new high-rise condominium and office projects, as the buildings below reluctantly continued their skyward climb. Back at ground level, their low-lying neighbors were taking note, dreaming of their own potential for property redevelopment to a “higher” use. That redevelopment will certainly not occur this year, and probably not the following year, but maybe a year or two after that, when consumer confidence has returned, demand has gained on supply, and Atlanta’s previously insatiable appetite for the newest, tallest and best has returned.

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