State properties sit idle, awaiting real estate comeback
This article appeared in the AJC this morning. Of course, this is nothing new, and is happening in cities and states around the country. But, I especially liked a comment towards the end of the article:There has been one positive development as the properties sit idle. To offset maintenance costs, Pullman Yard and the former state farmer’s market have become location shoots for several Hollywood movies, among them “The Blind Side,” “Fast and Furious 5,” “Footloose,” “The Lottery Ticket,” “Ben 10” and “Big Mommas: Like Father, Like Son.”
In the past two years, the Georgia Building Authority has generated more than $250,000 from film productions, Pando said.
Yet the State Legislature is talking about changes to the current incentives offer to the ever-growing Georgia Film Industry. Sure, why not take money out of the state pockets. And the people that are employed from this industry!
The Atlanta Journal-Constitution
When the state bought the former World of Cola-Cola building four years ago, the plan was to turn it into a museum, but the economic downturn scuttled that idea.
The same happened to plans to tear down the former Georgia Archives building just a few blocks away. The state intended to demolish the 45-year-old structure, but couldn’t afford the $5 million bill.
Similar to most local commercial property owners, the state hasn’t escaped the area’s real estate collapse.
