Property Details for 2614 Rangewood Dr NE

2614 Rangewood Dr Ne, Atlanta, GA 30345
2614 Rangewood Dr Ne, Atlanta, GA 30345
Property Features
Beds Total: 5
Lower Bedrooms: 2 Main Bedrooms: 3
Baths Full: 3
Baths Half: 1 Lower Full Baths: 1 Main Full Baths: 2 Main Half Baths: 1
Dining Room Desc: Separate Dng Rm
Kitchen Features: Breakfast Area, Breakfast Bar, Breakfast Room, Cabinets White, Counter Top – Solid Surface, Country Kitchen, Keeping Room, Pantry, Pantry – Walk-in, View To Fmly Rm
1-2 Step Entry Deck Garden Area Patio Prof Landscaping Lot Dimensions: 104X208X123X176 Approximate Lot Size: 1/2 To 3/4 Acres Road Type: Paved

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Atlanta leads the country in apartment lease giveaways, analysis finds

It wasn’t all that long ago that a month of free rent—and especially two months free rent—was extremely rare, if not unheard of, with Atlanta’s new crop of top-shelf apartment communities.

Now, per a recent national market analysis, rent concessions are not only the new normal in Atlanta, they’re more normal here than any other major city.

It’s no surprise that Atlanta ranks among the 15 cities to have received nearly half of all new apartment supply delivered across the U.S. in this long development cycle, which dates back to 2010.

But among those markets, metro Atlanta leads the pack in terms of average rent discounts of 9.1 percent as of March, which translates to more than one month’s free rent, according to RealPage, a provider of property management software solutions.

In Atlanta, analysts noted, apartment development has been “highly concentrated in a handful of historically high-performing submarkets in the urban core and northern suburbs,” and the majority of it has been high-priced luxury rentals, which has continued to lag older stock in terms of rent growth at the national level.

Real Page

Across the country, developers have packed on more than 1 million new apartments since 2015 alone.

The flood of new units has increased options for prospective renters and created a more heated leasing competition in cities far and wide. The RealPage team did note that developers have generally changed strategies in attempts to fill up new apartments as quickly as possible, conceding free rents to get bodies in the building.

It’s not the only recent report to suggest Atlanta’s volcanic rental scene isn’t cooling a bit, although deploying the “bubble” description could be premature, as Coldwell Banker recently pointed out.

In Atlanta proper, rents that were surging not long ago had declined, on average, for three consecutive months, per January’s Apartment List rent report. Granted, 2017 ended with Atlanta rents being 2.2 percent higher than a year prior, but the growth lagged the national average (3.4 percent) and that of Georgia at large (3.8 percent).

Still, new supply hasn’t shown many signs of slowing.

According to RENTCafé, metro Atlanta was expected to log more apartment deliveries in 2017—almost 12,000—than all but seven other markets.

That represented a 40 percent increase over 2016, which would suggest the apartment boom is still kicking, as can be evidenced by a stroll through virtually any central Atlanta neighborhood.

Fun little 1920s bungalow in Adair Park seeks $325,000

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San Diego focus on affordability parallels conversations in Atlanta

SAN DIEGO, CA – Housing affordability and homelessness are front-and-center challenges in San Diego – a region where 46 percent of the area is dedicated for conservation that is bordered by the Pacific Ocean, Indian reservations as well as military land.

The focus on affordability parallels the conversations occurring in Atlanta, which has become increasingly focused on being a region where the people of modest income can still afford to live.

“You think you are in crisis,” said Debbie Ruane, chief strategy officer for the San Diego Housing Commission, told the LINK delegation of metro Atlanta leaders. “You are not. We are in crisis. We want to help you not do what we did.”

San Diego has a large number of homeless people on its downtown streets (Photo by Maria Saporta)

The San Diego region estimates that it is meeting just half of its affordable housing needs for the area’s expected growth. That translates to a shortage of about 142,000 units affordable to people who currently spend more than 30 percent of their income on housing.

Another way to look at it – 44 percent of San Diegans spend 30 percent or more of their income on housing compared to 31 percent of people living in metro Atlanta.

“Young people growing up in San Diego can’t afford to live here,” said Mark Cafferty, president and CEO of the San Diego Regional Economic Development Corp. “Talent can go anywhere. We need young people growing up here to live here and thrive here.”

The City of San Diego and San Diego County are working on various initiatives to make the area more affordable. But the region faces obstacles with certain parts of the region resisting increased density with affordable housing.

The northern and western parts of San Diego tend to be the wealthier areas of the county while the southern and eastern areas tend to be low-income communities.

“It’s a regional issue, and everybody has to build density and housing in their community,” said Ruane, who added that housing advocates are trying to give political cover to elected officials who get pressure from the “not in my backyard” mentality. “We are trying to get out of our own way.

Sarah Kirsch, executive director of the Urban Land Institute – Atlanta, offered the local response.

Developer Walter Brown talks with Atlanta City Councilwoman Felicia Moore and MARTA board member Robert Dallas (Photo by Maria Saporta)

“Data shows that Atlanta is still relatively affordable,” said Kirsch, who said housing costs are increasing 5 to 10 percent a year while income has remained flat. But that’s not the whole story. “We have one of the highest combined cost of housing and transportation in the country.”

Plus the problem is getting worse.

“Since the recession, we are building about half as much of housing as we used to,” Kirsch said. “We are not building about 30,000 units a year.”

Kirsch said the Atlanta region is building a framework for a regional housing plan, which will help keep monitor the metrics of whether the metro area is keeping up with demand.

“We know there is no silver bullet,” she said.

San Diego also is in a crisis mode when it comes to the homeless. As of 2017, San Diego County is home to the fourth largest population of homeless people in the United States – behind New York, Los Angeles and Seattle.

The homeless are drawn to San Diego largely because of its moderate weather. A homeless count in 2017 identified 9,116 people – a 5 percent increase from the year before.

As a result, Ron Roberts, supervisor of San Diego County, said the county’s budget is “tripling” its spending for drug, alcohol and substance abuse treatment – up to $100 million.

Nathaniel Smith of the Partnership for Southern Equity with Jack Hardin, co-chair of Atlanta’s Regional Commission on Homelessness (Photo by Maria Saporta)

“We think this will be a game changer,” Roberts said. “We also fund 50 psychiatric response teams.” And the county and a multitude of organizations are working to get severely vulnerable people off the streets.”

San Diego also had a serious Hepatitis A outbreak among its homeless population last year that led to the death of 20 people and infected 570 others, and that led to a major vaccination and treatment program.

“In August, we started to see the numbers drop off, and today it’s nearly gone,” Roberts said.

The homeless crisis, however, has led to the county taking drastic measures. It created several tent encampments to house the homeless – at least on a temporary basis.

“We only have 40-42 beds for every 100 homeless individuals,” said Gordon Walker, CEO of the Regional Task Force on the Homeless, who took his post last year. “When I came, I thought San Diego was on the tipping point of losing its streets if it didn’t do something very quickly. We put up three new shelters very quickly.”

The Atlanta story is a stark contrast.

Jack Hardin, co-chair of the Atlanta’s Regional Commission on Homelessness, briefed the LINK delegation on metro Atlanta’s remarkable success.

“In the past seven years, we have reduced our unsheltered counts by two-thirds,” Hardin said, adding that the homeless count in the City of Atlanta in 2017 was 3,572 – a 40 percent decline since 2011.

Hardin credited part of the success to a $25 million investment by the City of Atlanta – matched by the philanthropic community “to double down on the strategies that are working.“ The region has built 3,500 units of housing aimed at providing shelter for the homeless.

“I think we are on the right path,” Hardin told the metro Atlanta leaders.

Attorney Steve Labovitz chats with developer David Allman as Invest Atlanta’s Eloisa Klementich listens (Photo by Maria Saporta)
Clayton Commission Chair Jeff Turner with Aerotropolis Atlanta CIDs leader Gerald McDowell and Clayton State University President Tim Hynes (Photo by Maria Saporta)
Metro Atlanta Chamber’s Katie Kirkpatrick with the Atlanta Fed’s Todd Greene (Photo by Maria Saporta)
Jeff Lewis, a board member of the Georgia Department of Transportation, with Sharon Mason, president and CEO of the Cobb Chamber of Commerce (Photo by Maria Saporta)
Nonprofit leader Bill Bolling with former Cobb Chamber CEO David Connell (Photo by Maria Saporta)
Engineering consultant Claudia Bilotto with Jennifer Ball of Central Atlanta Progress (Photo by Maria Saporta)
Kimberly Hudgens of HNTB with Fulton County’s Liz Hausmann, developer David Allman, MARTA Chair Robbie Ashe and Metro Atlanta Chamber’s Katie Kirkpatrick (Photo by Maria Saporta)
John O’Callahan, head of the Atlanta Neighborhood Development Partnership, grabs a spot to get some work done (Photo by Maria Saporta)
LaKeitha Carlos, chief of staff of DeKalb County, asks a question during a panel (Photo by Maria Saporta)
Leonard Sledge, head of the Henry County Development Autority, with Gerald McDowell of Aerotropolis CIDs and Natalie Tyler-Martin, an executive with Duke Realty (Photo by Maria Saporta)
Consultant Moses Brown with Bethany Usry, vice president of the Greater North Fulton Chamber of Commerce (Photo by Maria Saporta)
DeKalb County chief of staff LaKeitha Carlos with Richard Brownlow, vice president of Jacobs Engineering (Photo by Maria Saporta)
Gateway CID’s Marsha Bomar, GDOT’s Dana Lemon, Invest Atlanta’s Eloisa Klementich and Atlanta Fed’s Todd Greene enjoy lunch outdoors (Photo by Maria Saporta)
Midtown Alliance’s Kevin Greene with Atlanta BeltLine’s Brian McGowan (Photo by Maria Saporta)
Veteran LINK attendees: Robert Brown, Andrew Feiler, Ann Cramer, Alicia Philipp, Wayne Hill, Sylvia Russell and Brandon Beach (Photo by Maria Saporta)

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Property Details for 2807 Fairlane Dr

2807 Fairlane Dr, Doraville, GA 30340
2807 Fairlane Dr, Doraville, GA 30340
Property Features
Bedroom Desc: Bdrm On Main Lev, Mstr On Main, Roommate Fl Plan
Baths Full: 3 Main Full Baths: 3 Master Bath Features: Tub/Shower Combo
Dining Room Desc: Dining/Great Rm

*School data provided by National Center for Education Statistics, Pitney Bowes, and GreatSchools. Intended for reference only. GreatSchools Ratings compare a school’s test performance to statewide results. To verify enrollment eligibility, contact the school or district directly.

Property History for 2807 Fairlane Dr
Date Event Price Price/Sq Ft Source 05/08/2018 Listed $295,000 — Atlanta 05/08/2018 Listed $295,000 $189 AtlantaN 03/10/2010 Listed $184,900 — AtlantaN 05/17/2005 Sold $186,000 $119 12/05/2002 Sold $157,000 $101
Year Taxes Land Additions Total Assessment 2017 Price Not Available $17,600 + $48,240 = $65,840 2016 $2,025 $17,600 + $42,720 = $60,320 2013 Price Not Available $17,680 + $13,240 = $30,920

The price and tax history data displayed is obtained from public records and/or MLS feeds from the local jurisdiction. Contact your REALTOR® directly in order to obtain the most up-to-date information available.

2807 Fairlane Dr, Atlanta, GA 30340
2807 Fairlane Dr, Atlanta, GA 30340
Bedrooms Main: 4
Baths Full: 3 Baths Full Main: 3
Lot Description: Level Lot

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Real Estate Notebook: Cousins may not be done buying; Norcross redevelopment – Atlanta Business Chronicle

Cousins Properties Inc. may already be looking to buy more Midtown development sites.

Atlanta’s largest office landlord, which just revealed plans for a 500-foot Midtown tower, remains bullish on future development opportunities in the neighborhood, which is known for The Woodruff Arts Center, Fox Theatre and many of the city’s recent high-profile corporate expansions.

A few notable sites remaining in Midtown include about 4 acres at West Peachtree, Spring Street, Ponce de Leon Avenue and 3rd Street.

It’s owned by a group that includes the Catholic Archdiocese of Atlanta. Areas generally south of 675 West Peachtree Street, a landmark property once known as the Southern Bell Tower, could allow for up to 10 million square feet of new development

“We have significant capacity to pursue strategic office sites,” Cousins Chairman and CEO Larry Gellerstedt said in an April 26 conference call with analysts.

Currently, land represents less than one-half of 1 percent of Cousins’ enterprise value. Its goal is to increase those prime land holdings for office development to somewhere between 2 percent and 3 percent, Gellerstedt said.

Last week, Cousins unveiled the first look at its planned 450,000-to-500,000-square foot Midtown tower, which is being designed by Pickard Chilton and HKS Inc.

It will rise on slightly less than an acre between 7th and 8th streets, a two-minute walk from the Midtown MARTA station and block east of Tech Square and the new NCR Corp. headquarters.

Gellerstedt said the site’s advantages include proximity to Georgia Tech and MARTA. Cousins wants to buy the site this summer. The property would join an existing $23 million portfolio of land for future development.

Norcross redevelopment

For decades, the box-making giant Rock-Tenn Co. maintained a nearly 11-acre Norcross campus on the edge of the city’s downtown.

Now, most of the brick buildings that make up the former headquarters could be redeveloped with new housing units, shops, restaurants and a public park.

Former Rock Tenn Campus Redevelopment

This project is being proposed by Alliance Realty

VIEW SLIDESHOW 4 photos

Alliance Realty Partners has submitted plans to rezone the property, which is about a half-mile walk to the historic downtown.

Alliance is proposing a mixed-use residential project, with 292 multifamily units, 65 townhomes, shared office and workspace, shops, restaurants and a public park.

Rock-Tenn and Richmond, Va.-based MeadWestvaco Corp. merged to form WestRock Co., which last year announced it was going to relocate its Norcross executive offices, commercial teams and other staff to an office tower on the Atlanta Perimeter. The former Rock-Tenn campus had roots in Norcross that dated back to the 1950s.

Four of the six former Rock-Tenn buildings will be demolished as part of the redevelopment, which could turn the old campus into a new, mixed-use residential and commercial node within the city’s employment center. Other suburban Atlanta cities including Lawrenceville are working on new projects that add hundreds of downtown residential units.

New project for Old Milton

Kairos Development Corp. purchased an old funeral home near Alpharetta’s downtown city center that it plans to redevelop into a live-work office building.

One Alpharetta city

The $15 million project will be called One Alpharetta City. It will total 36,000 square feet with 12 residential units, 7,000 square feet of retail and a parking deck.

VIEW SLIDESHOW 12 photos

The $15 million project will be called ONE Alpharetta City. It will total 36,000 square feet with 7,000 square feet of retail, 12 residential units and a parking deck.

“ONE Alpharetta City reflects what today’s office tenants desire, which is walkable amenities in live-work environment,” said Kairos Operations Director Art Rountree.

Kairos bought the funeral home, at 2260 Old Milton Parkway, for about $1.7 million. On May 1, Rountree submitted rezoning plans to the City of Alpharetta for the project.

“Our family believes in this area, and we’ve decided to invest in the community,” said Rountree.

The building will be within walking distance to mixed-used town center Avalon and the planned Alpha Loop, Alpharetta’s version of the Atlanta Beltline.

Work on the new development will kick off in fall 2018.

Hundreds of jobs to West Atlanta

Atlanta-based Empire Distributors Inc. is moving its headquarters to Austell, where it will occupy a more than 600,000-square-foot building and eventually place hundreds of its employees.

Real estate company Core5 Industrial Partners landed the wholesale beverage distributor at the build-to-suit project, which will rise at 685 Hartman Road in southwest Cobb County. The more than $52 million building will feature 601,350 square feet, including an 80,000-square-foot, two-story corporate office.

The headquarters is expected to be fully operational by the fourth quarter. The project marks an expansion for Empire Distributors, which is moving from Atlanta Industrial Park in Fulton County to the new build-to-suit location. It will initially employ 440 but anticipates growing to at least 510.

Empire Distributors liked the site because of its proximity to Atlanta’s growing population and good access on Thornton Road, Riverside Parkway and Fulton Industrial Boulevard, said Lisa Ward, Core5 senior vice president and managing director. It also wanted a custom-designed building.

Core5, a barely three-year-old company backed by Kajima Corp., continues expanding its portfolio of large industrial real estate developments. It recently inked retail giant Lowe’s to a 1.2 million-square-foot lease at its Southwest 85 Logistics Center, according to people familiar with the project. Core5 has developed 10 million square feet since 2015. The new building for Empire Distributors was its first build-to-suit project.

JLL hired for LakePoint

LakePoint Sporting Community, the planned 1,300-acre Bartow County development known for elite amateur sports tournaments, has brought in Jones Lang LaSalle Inc. as a real estate adviser.

The move comes as the California hedge fund manager Rimrock Capital Management assumes a more visible ownership role in the project, which is about 45 minutes northwest of Atlanta on Interstate 75. Several hundred acres of LakePoint, first reported on in 2010, have yet to be developed.

Rimrock has replaced former LakePoint development principals and is working with financial advisory firm GlassRatner on a new master plan.

Jones Lang LaSalle is now part of that process.

Real estate veteran Bo Jackson joins Greenstone Properties

Longtime Atlanta commercial real estate veteran Bo Jackson is joining Greenstone Properties as the developer looks to bolster its acquisitions business.

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Before his stint with Transwestern, Jackson oversaw a $3 billion portfolio for Colonial Properties Trust.

Jackson is leaving real estate services company Transwestern after five years, where he was a senior managing director.

“For me, this was a question of vision,” Jackson said. “I wanted to go somewhere that I could expand my interest in acquisitions and development.”

He’ll have that opportunity with Greenstone, which has a development portfolio that includes the new $100 million Cumberland headquarters for HD Supply, a proposed 10-story building in MIdtown at 14th and Spring, and another project in Alpharetta at Georgia 400 and Old Milton Parkway.

“We have done a good job with development,” said partner De Little. “We can do more with acquisitions.”

Before his stint with Transwestern, Jackson oversaw a $3 billion portfolio for Colonial Properties Trust. He also held executive positions with Beacon Properties and global real estate company Hines. Those roles gave allowed him to build connections with multiple capital sources.

Greenstone will target mostly office property acquisitions ranging from $25 million to $200 million, primarily in Atlanta, but also in markets including Dallas, Charlotte and Nashville, among others. It will look for both suburban value-add opportunities and properties in dense mixed use environments. In recent months, it was a finalist for big acquisitions, but fell just short.

“We felt that if we had Bo we would have been first a lot more often,” said Greenstone partner Chris Schoen.

Greenstone’s plan to boost acquisitions appears to have good timing. Much of Atlanta’s office market shows strong fundamentals, but especially properties that are in walking or biking distance of amenities such as housing, restaurants and nightlife, transit or public spaces such as the Atlanta Beltline.

For example, in Midtown, which has access to many of those amenities in a dense urban environment, rates for premier office space jumped 12.5 percent year-over-year, according to data from Jones Lang LaSalle Inc.

In a recent conference call with Wall Street analysts, Cousins CEO Larry Gellerstedt said of markets such as Atlanta: “Business and consumer confidence remain positive. Office users are growing their footprints, more companies are migrating to the Sun Belt, and new supply remains in check.”

Jackson said, “Foreign and domestic capital are looking for office properties, and Atlanta is high on the radar.”

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