Atlanta Condos For Sale

StreetLights Residential Proposes 26-story Tower at Juniper and 5th

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Another corner of Midtown seems to be headed to the winds of change…..StreetLights Residential Proposes 26-story Tower at Juniper and 5th!!

New apartment tower at St. MarksFirst, to give you your bearings as to where we are talking about, take a look at the map to the right….

There may be one house in the blue square (at the bottom) that may not be part of the site. 

This building will rise up some 299 “market-rate” residential units (would this mean a potential change to For Sale inventory would be possible?) over a seven-level parking deck to house some 568 parking spaces. It’s worthy to note that 150 spaces will be assigned to the adjacent St. Mark Church. There will also be a very modest 4,000 sq. ft of retail space.

The project went through the Midtown Alliance’s Midtown Development Review Committee this week. The DRC has some recommendations…

  • Moving the retail space to the corner of Juniper and 5th to take advantage of the pedestrian traffic along 5th Street
  • “strengthening the exterior design features” and work with the Atlanta City Design Studio due to the size of the building and the location next to the church. 

Here is the initial drawing of the building….(dwarfs the church for sure!)

 

Streetlights Midtown Apartment Proposal

 

 

 

 

 

 

 

 

 

 

 

 

 

Currently on the site you will find….

Juniper and 5th Apartment Building

The DRC report indicates the applicant will be back for another review after the above items have been addressed. 

Stay tuned! 

You can read the Midtown DRC report HERE! 

NEW! Fulton County Homestead Exemption

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NEW! Fulton County Homestead Exemption NEW!

Homestead ExemptionThere is a NEW Senior Homestead Tax Exemption available for homeowners who are 65 or older, regardless of income, if your primary residence is in Fulton County.

This new age-based exemption was passed in November 2018 and is in addition to base homestead exemption but it requires an application (by April 1) to take effect in most cases to increase the amount of your homestead exemption and effectively lower total property taxes. The deadline to file for this new Senior Homestead Tax Exemption (or for any homestead exemption) is Monday April 1, 2019, to qualify for property tax relief in the current year.

Standard Rule: If primary residence then owner may qualify to exempt up to $30,000 of their home’s assessed value.

NEW IN FULTON – Homeowners over the age of 65 are now eligible for a new senior homestead exemption. It increases the base homestead exemption from $30,000 to $50,000. All homeowners over the age of 65 qualify, regardless of income.

ACTION NEEDED: If Owner already has another 65 and older homestead exemption, this will automatically apply. If not, they must apply online, in person, or by the April 1 deadline.

The following steps will help you file your homestead exemption online:

1. Go to: https://fultonassessor.org

2. Click on “Property Search”

3. Click on “Address Search”

4. Key in the property address, but leave off the suffix (ex: for 123 Main Street, you would enter 123 Main)

5. Click “Search” 6. When results are returned, click on the property owner’s name to be directed to the property profile.

7. On the Profile page, in the lower right-hand corner, the page will provide the Fulton County exemption code (FUL Exep Code).

8. If the FUL Exep Code ends in “S”, the property owner does not need to file (ex: HF01S), but if it does not end in “S,” the property owner will need to file by April 1.

9. To file, visit the following: https://fultonassessor.org/wp-content/uploads/sites/16/2019/01/2019-HomesteadApplication-Revised.pdf to print out the form to take to the Assessor’s Office.

10. To file online, visit: https://iassmartfile.fultoncountyga.gov/

11. Either “Create an Account” or “Login”

12. Click “Homestead Exemption”

To file, the property owner will need the following information:

a. Georgia Driver’s License or valid Georgia identification (Owner and Spouse)

b. Social Security Number (Owner and Spouse)

c. Registration for all vehicles owned (vehicles must be registered to Fulton County)

d. Recorded Deed (for new owners only)

e. Trust Document and Affidavit (if the property is held in trust).

 

For further assistance, call (404) 612-6440 x 4 or visit:

Peachtree Center North Tower (Main Office) 235 Peachtree Street NE, Suite 1400 Atlanta, GA 30303

Fulton County Government Center 141 Pryor Street, Suite 1018 Atlanta, GA 30303-3487

Alpharetta Service Center 11575 Maxwell Road Alpharetta, GA 30009

North Service Center 7741 Roswell Road NE, Suite 210 Atlanta, GA 30350

South Service Center 5600 Stonewall Tell Road, Suite 224 College Park, GA 30349

Historic West Midtown Goat Farm Arts Center to be Redeveloped

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A significant redevelopment is scheduled for the Goat Farm Arts Center, an artist community tucked away in West Midtown that’s very well known for its creative tenants and 19th century warehouses.

The $55 million project would add apartments and artist studios to the roughly 10-acre complex, according to plans put forward to the Development Authority of Fulton County.

The proposal refers to for a four-story apartment building with 240 units, including up to 36 affordable units. The building would be a mix of studio, one-bedroom and two-bedroom units. The project would also include about 50 commercial artist studios and a surface car park lot with 300 spaces.

The investment would come to an area where several of the buildings were originally constructed in the late 1800s, have slipped into a state of disrepair and are losing their functionality and ability to operate safely, says a fact sheet on the project.

The developer is Goat Farm Development LLC, an affiliate of TriBridge Residential, according to the Georgia Secretary of State’s office.

The proposal is scheduled to go before Fulton County’s development authority on March 26. The county will deal with whether to approve almost $2.8 million in property tax abatements over the next 10 years.

Atlanta Business Chronicle first learned of plans earlier this year when tenants said they were told to vacate the Goat Farm by the end of the year.

Sources told ABC that the Goat Farm will have to temporarily close during the redevelopment.

Anthony Harper of Hollister Property Development, which owns the Goat Farm, in February said he could not comment. Harper could not be immediately reached on March 21.

Ben Hautt, co-managing partner of Stream Realty, which has developed adaptive reuse projects including the Ellsworth in the Upper Westside, shared his confidence in a project at the Goat Farm.

” Anthony and the Goat Farm were pioneers and will continue to be,” Hautt told Atlanta Business Chronicle in an email. “Goat Farm was mixing the arts, loft space, and community strategy way ahead of everyone else. No doubt this new development will be prosperous, too.”

A redevelopment at the Goat Farm comes as property values in West Midtown continue to soar.

There’s more than a billion dollars worth of new projects in the pipeline for the area, said Jim Meyer, CEO of Atlantic Capital Properties, which is part of the development team for a $150 million project called 8West that’s bringing 175,000 square feet of office space.

“West Midtown is the place people want to be,” Meyer said.

Other big developments include Star Metals at Howell Mill, Brady Avenue and 11th, where coworking company Spaces signed a lease, and The Interlock, which landed WeWork.

Midtown Atlanta 2018 Year End Real Estate Market Report

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Midtown Atlanta Real Estate Year End 2018 Market ReportMidtown Atlanta is most often referred to as the most walkable neighborhood in all of the Metro Atlanta area. And that certainly is true. Step out the door of your home or condominium, and lots and lots of restaurants, some shopping, two MARTA transit stations, theater and art museums are all within walking distance. Not to mention the numerous festivals that happen each year in Midtown Atlanta’s “backyard” ….  Piedmont Park. 

A majority of the living options in Midtown Atlanta consist of condominiums and apartments. The area known as Historic Midtown is the only area with single family homes. 

For the purpose of this report, we tried to outline what is considered Midtown in the MLS, as indicate in the photo on the right. 

Midtown Atlanta 2018 Year End Real Estate Market Report

Disclaimer: As we do this “15,000 ft overview” of the Midtown Atlanta market, we attempted to keep the search as indicate in the map above. So places like Ansley Park or Atlantic Station are NOT represented in this report. 

Single Family Homes

Single family homes in Midtown Atlanta, are found in what is referred to as Historic Midtown, and area primarily defined by 10th Street, Monroe Drive, North Avenue and Piedmont Avenue. 

There were 25 homes that sold in 2018, ranging in price from $500,000 to $1,680,000.  CLICK HERE to see the report.

Condominiums/Townhomes

2018 Midtown Atlanta Real Estate Market ReportMidtown Atlanta is best known for condominium living. And the choices range for converted homes with only 4 units to major high-rise buildings with 400 homes! And as you can see in this 2018 Year End Report, there is a range of prices! There were a total of 667 sales in the area for 2018!

86 condominiums sold between $500,000 and above.  This accounted for about 13 percent of the market

78 homes sold between $400,000 and $500,000 or about 12 percent of the market. 

160 homes sold between $300,000 and $400,000, about 24 percent of the market.

343 homes, or 51% of the Midtown Atlanta condo market sold for less than $300,000. 

82 condos sold for less than $200,000 or about 12 percent of the total sales.

CLICK HERE to see the Complete 2018 Market Report — $500,000 Plus

CLICK HERE to see the Complete 2018 Market Report — $400,000 — $500,000

$300,000 — $400,000  CLICK HERE

$300,000 or less  CLICK HERE

What’s The Real Estate Market Like In Midtown Atlanta?

Midtown Atlanta’s real estate market is still moving strong in 2019. However, we are starting to see some homes remain on the market longer and not the past frenzy of offers (and sometimes multiple offers) within a day of going on the market. 2019 will also see the values moderate. This is a GOOD THING, AND NOT A SIGN OF ANY TROUBLE! A real estate market cannot continue at 6% or more appreciation each year. If that were to happen, Midtown Atlanta, or ANY area of Atlanta could quickly become unaffordable to many people. So we look forward to continued price and value appreciation, but just not as dramatic as we have seen in the past few years. 

If you are looking to Buy or Sell a home in Midtown Atlanta, MyMidtownMojo.com can help! 

Selling? Do you want to sell your Midtown Atlanta single family home or condominium? Call us today at 770.713.1505 to schedule a free market analysis of your home. Or, complete our Seller Information Form and we will be in touch with you! 

Buying? Are you looking to buy a Midtown Atlanta home, condo or townhome? We can set up specific searches for you based on price, community or other specifics you may be looking for. In a competitive Seller’s Market, we can alert you of new listings within minutes of them hitting the market! Just complete out Buyer Information Form, or let’s schedule a time to talk about what you are looking for!

Contact MyMidtownMojo and Thomas Ramon [email protected] House Properties at 770.713.1505 or [email protected] for all your Midtown Atlanta real estate needs!

Atlanta Real Estate Market Brief — February 2019

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The Atlanta REALTORS® Association has released their Atlanta Real Estate Market Brief — February 2019. 

This market brief examines sales and prices in an 11-county area consisting of Cherokee, Clayton, Cobb, DeKalb, Douglas, Forsyth, Fulton, Gwinnett, Fayette, Henry and Paulding Counties. ( So take note…this is a really, really BROAD look at the real estate market in Metro Atlanta!)

Atlanta Real Estate Market Report

Overall residential sales were at 3,464 which is a decrease of 7.4% from the previous year. When you look at price (both average and median) you see they continue to gain traction and are ahead of 2018 numbers. The median sales price in February was $264,000, an increase of 5.6% from February, 2018. The average Sales Price was up by 5.3% to $319,000.

Atlanta Real Estate Market Report February 2019

 

What’s The Atlanta Inventory Like?

Inventory increased by 15.7% from February, 2018 with 12,806 active listings. (Remember those MetroBrokers digital signs back in the day that had 80,000, 90,000 and even 100,000 homes For Sale? Shreeeeek!) New listings were up by 15.4% from February, 2018. The month’s supply over a 12-month period decreased to 2.6 months. 

Is This A Normal Real Estate Market?

A normal real estate market has 6 months of inventory. Less than 6 months (as indicated above) is a Seller’s market, and more than 6 months is a Buyer’s market. More inventory means buyers can probably get the Seller to negotiate more on price or other concessions. In a Seller’s market, we find homes selling for list price, and even above list price. 

My word of caution in a report as broad as this…..real estate is all about location, location, location. These average sales numbers are just that… an average and what you may see in your neighborhood, city or specific condominium building may vastly differ from these numbers. This is why it’s always best to get a real estate professional to give you a market picture for your home and neighborhood/building. 

If you have questions about the value of your home, give us a call, or just fill out the form below and we will be in touch with you! 

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Midtown Mobility from Midtown Alliance

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Midtown Alliance is a non-profit membership organization and a coalition of leading business and community leaders – united in our commitment to Midtown as a premiere destination for commerce, culture, education and living. Governed by a 71-member board of the district’s top private sector leaders, our mission is to improve and sustain the quality of life for those who live, work and play here. The Alliance accomplishes this goal through a comprehensive approach to planning and development that includes initiatives to enhance public safety, improve the physical environment, and strengthen the urban amenities which give the area its unique character. 

Guided by a visionary master plan – Blueprint Midtown – and in partnership with the Midtown Improvement District, Midtown has become a national model for urban excellence.

Midtown Alliance puts out various communications each month and throughout the year to keep residents and Midtown employers informed of what’s going on in the area. While you might find some of these things on their website, we wanted to share with you the September issue of Midtown Mobility from Midtown Alliance.

Biketopber — October 1-31, 2018

This is a month-long, FREE event also known as the Atlanta Bike Challenge. Biking, teambuilding, competition and prizes! Click on the link for more information about this event! 

Measuring Foot Traffic

A key part of getting more retail (and maybe a couple less restaurants) is have feet on the street. While the Midtown population has grown, it’s certainly nothing like Midtown Manhattan! Midtown Alliance will look at the increase in foot traffic as well as car traffic. If you can imagine, technology that will measure pedestrian activity!! WOW! Data like this can be important to anyone looking to open a store front in Midtown!

 

Midtown Alliance to Monitor foot traffic

Here is a link to the complete September Midtown Mobility newsletter. 

Midtown Mobility | September, 2018

Midtown Alliance Midtown Mobility

Thom Abbott

Associate Broker, REALTOR(R)
905 Juniper Street, NE Suite 110
Atlanta, Georgia 30309
770.713.1505 Direct
404.876.4901 Office

 
 
 
 
 
 
 
 
 
 

PalmerHouse Properties