Wednesday, January 11, 2012

Westown a west side whopper - Atlanta Business Chronicle:

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To be known as it would have 1,450 the majority mid-rise condominiums, but also 42 single-family homesd and hundreds of townhouses. The community will be developer by Brock Built City Neighborhoods LLC inthe 43-acre area roughlyh bounded by Fairmont Booth Avenue, English Street, Boyd Culpepper Street, Huff Road and Ellsworth about a mile west of Atlantic It will also includew 150,000 square feet of retail/commercial space along Huff Road'xs intersections with English Street, Boyd Avenue and Booth The project's total price tag is about $400 million. Westown is along the proposedf Beltline, near the proposed Culpepper transiy line.
The Beltline is a 22-mile loop of former rail line thatencirclesx downtown. Westown would be the largest residential development in the city of Atlanta within the past 10 saidEugene James, director of ' s Atlanta division, which tracks residential subdivisions. The next largesf development ongoing isPrinceton Lakes, a 785-home project beiny built by in the Camp Creel area, he said. Westown may be eclipsed in size insider the city limitsby Miami-based The Related Group'sw proposed CityPlace at Buckhead, which calls for nearly 3,900 condominiums, townhouses and single-family homes, James said.
But Westown shows residentialp developers believe growing numbers of Atlanta home buyers are interestedin close-imn living. Prices in Westown will start around $195,000 for the condos, with townhoused in the high $300,000s and single-family homes in the said CEO Steve Brock. Brock has builft in Atlanta for 22 years and moved into the area west of which has beencalledc Westside, Midtown West and Northwest 10 years ago with a project callec Adams Crossing. Brock bega n assembling property for Westown in 1998 and says it will take seveh years tobuild out. Targeted buyers are singles or couplesx juststarting families.
"We expect families, but it's not the suburbas where families move for the Brock said. Westown's nearby elementary schoolsa include , Boyd Elementary, Towns Elementary and William J. Scott Elementary. And although it may be more expensive to pay city ofAtlanta taxes, a home buyef in Westown is just two miles from Midtowh and about 3.5 miles from eithert Buckhead or downtown, he without ever having to get on the "If you live in the you are probably commuting an hour each way," Broc k said, which can easily exceer 500 hours a year. "What'sd 500 hours a year worthh to you?" The logic hasn't been lost on othe residential developers.
The Atlanta Regional Commissioj (ARC) reviewed development plans in 2005 that calledsfor 6,556 more residential units in the city of Atlanta, accordinfg to Matt Hennie, the ARC's communicationse coordinator. That number jumped to 15,150 in 2006. At the end of the firsgt quarter, the ARC has already or is reviewing, development plansd that wouldadd 7,517 residential units. Developerr Marc Pollack, who has his own project in the same area as says he is amazed at all of the activitygoing on. "I drive around over thered and I shakemy head.
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