The Atlanta Regional Commission has gone on record to report that the city is likely to grow in population by almost two million by the year 2050. With consistent growth both in the past and into the future, many rapid transformations have come as a reaction to the city’s changing face. However, what does that mean for Atlanta outside of simple population growth?
The following article will explain how Atlanta development projects are responding to issues such as:
- Rising construction costs
- Regulatory hurdles
- Advances in building technology
- The evolution of commercial spaces
- Sustainable urban planning proposals
So, read on to gain some insights into leveraging these for your benefit and what else you can expect to see in the world of Atlanta urban development. Get ahead of the competition in one of America’s fastest-growing real estate markets.
Unmasking Atlanta’s Growth Engine With Local Insights
As Atlanta’s population continues to grow, we have seen a similar expansion in its economy. However, while the city’s population increased by almost 0.9% in a single year, the median household income grew by a little over 5.5%, showing the region’s wealth outpacing the addition of new residents. The city is also experiencing a significant surge in landmark developments.
For example, the Centennial Yards project, located by the Mercedes-Benz Stadium, is currently emerging as a major catalyst for growth in its surrounding regions. As a mixed-use hub, it stands to become a center for:
- Sports
- Entertainment
- Retail
- Commercial opportunities
This is especially true in light of the upcoming World Cup, which news sites such as Axios state offers the chance for booming business and lucrative real estate investment.
Atlanta’s recent growth is also partly due to the emergence of opportunities such as Lee+White in the region, with an innovative approach to urban development complementing other projects instead of trying to outgrow them. Their view on reshaping Warehouse Row with a new mixed-use region makes it a hotspot for real estate investors willing to invest in a potentially “disruptive” success.
With these changes come more urban planning initiatives in terms of real estate opportunities, and as such, strategic property acquisition in Atlanta is skyrocketing. The results of this include further developments and the promotion of property management initiatives.
All these developments are part of a much broader trend toward faster growth in Atlanta. The projects underscore this, shifting the region towards greater opportunities moving forward.
Atlanta’s Shifting Demographics
As Atlanta’s population grows, the demand for new amenities follows suit, and we are starting to see a growth in the areas of:
- Sustainable urban planning
- Property renovation
- New residents from outside of Atlanta
- Young professionals and families
Improving the area with sustainable urban planning and investment property renovation in Atlanta helps make it more appealing for young investors and home buyers. At the same time, the influx of new residents who either buy or rent, especially families and younger people, proves that Atlanta is a center for innovation and new working styles. Multifamily real estate investments in Atlanta are set to grow in response.
Game-Changing Infrastructure
Developers are executing commercial build-outs in Atlanta that reinvent traditional or neglected spaces and turn them into vibrant cultural hubs. Several such projects continue to bring increased stability and greater economic impact to Atlanta. For example:
The Atlanta Beltline
According to the most recent public reports, the Atlanta Beltline project has attracted over $9 billion in funds. This resource will continue to expand the Beltline, ensuring its usefulness in the long term.
The project already demonstrates a boon to community integration for those on the 22-mile line and has significantly boosted property values around the area. By 2030, Atlanta will complete this project, supporting:
- Redevelopment
- New infrastructure
- Green space investment
- Affordable housing
- Art and culture showcases
The Beltline itself is a powerful and very popular “trend”, with many lauding the impact it has had, and will have, to boost engagement and bring jobs to the area.
MARTA Expansion
While the Beltline remains a powerhouse of redevelopment in the region, its existence has brought subsequent game-changing projects to the area. Along or close to the 22-mile Beltline, we also see other opportunities to boost community engagement and job growth through several more projects.
For example, MARTA, also known as the Metropolitan Atlanta Rapid Transit Authority, has recently discussed expanding Atlanta’s metro transit system. They plan to invest heavily in boosting service reliability and the passenger experience, making every stop along the transit system’s path a much more valuable piece of real estate.
They plan to boost the infrastructure in the areas of:
- Signalling
- Green vehicles
- Redesigned bus networks
- State-of-the-art railcars
- Increased safety
- Straightforward fare payment systems
These will all increase the simplicity and general experience of using MARTA’s bus and rail systems, increasing the number of people considering it a viable and enjoyable way to get around the area. Real estate development in Atlanta needs that kind of infrastructure to remain as strong as it is.
How the City’s Unique Culture Shapes Atlanta Development Trends
Atlanta takes great pride in its distinct and diverse cultural identity. Not only do its people come from locations globally, bringing their own culture to the region, but the city itself has developed a brand attitude all of its own. This cultural diversity is a point of pride for the city.
Recent plans for a nine-building data center campus just east of Atlanta have brought further interest from the tech industry. Alongside such a project, Atlanta construction services have a good chance of showcasing more smart technology adoption and cutting-edge technology in their construction projects.
Keeping Up with Atlanta’s Development Landscape
New real estate development companies in Atlanta are reshaping the demographics and infrastructure of the region. Alongside innovative new projects and local government investments, commercial property acquisition from Georgia extends beyond Atlanta if you want to expand your empire.
To learn more, or if it’s time to look at your options, Paragon Property & Construction can help. As a premier provider of commercial general contracting in Atlanta, GA, our expert services offer both local mastery and the innovation you need to navigate the ins and outs of Atlanta’s competitive real estate world. So, talk to us for insights into Atlanta development projects that can drive you to further success
