Identifying Hot Spots: Pinpointing the Next Hot Areas for Atlanta Real Estate

Atlanta continues to grow in population each month and has recently been named the largest city in the Southeast. This growing metropolis is packed with over 200 official neighborhoods, each with its own unique flair and aesthetic and market conditions. Since it can be overwhelming to comb through each one when relocating or expanding, we have compiled the up-and-coming hot spots for Atlanta real estate, for those of you less familiar with each unique neighborhood:

Knight?Park, Grove Park, and Bankhead

Adjacent to?Westside Reservoir Park?and the?Beltline?Westside Trail, you can find the sprawling neighborhoods of Grove Park, Knight Park, and Bankhead. This area is also sandwiched between?Microsoft’s?Atlantic station campus and?Microsoft’s?gigantic Westside campus. A mere 5 minutes to?The Works,?Westside Provisions, Howell Mill Rd, and 10 minutes to Midtown, this neighborhood positions you near a range of trendy restaurants, retail, and local shops. Currently, there over 20 new prominent office, restaurant, retail, and residential developments underway with area-altering affects. For example, a project in Grove Park may be underway soon that would further enhance the rapidly growing neighborhood with 30 additional units of townhomes. The project is planned to provide affordable homeownership between $200,000 to $325,000.

Downtown

Pre-Covid, the city’s downtown district was an office-focused area that shut down after 6pm. However, a resurgence is beginning, positioning downtown as the ultimate destination for business and major events such as sports in action at the?Mercedes-Benz Stadium?or?State Farm Arena,?Georgia Aquarium, and the?CNN Center. Downtown dwellers also have unparalleled walkability and connectivity to our local transit system. With the Five points?MARTA?station at your fingertips, you can catch a train going in all directions right from your home base.

Downtown is spurred by the redevelopment of the Norfolk Southern building, announcement of?Centennial Yards, and much more. With many gigantic area-altering developments underway, this will result in bringing space for thousands of jobs, year-round entertainment, new restaurants, and thousands of new residential units. The 40+ acre redevelopment of?Centennial Yards?will reconnect the downtown street grid and create a vibrant, urban, walkable district. The first phase in the massive development by CIM Group —?The?Lofts at Centennial Yards South?—?recently opened, adding 162 new residences to the neighborhood.

Chosewood?Park and Boulevard Heights

Located in Southeast Atlanta, Chosewood Park is composed of stunning craftsman-style bungalows overflowing with character. Current prices of these historic and newly constructed homes are lower than median Atlanta home prices of $439,000, making it an appealing option for many home buyers. That will change soon though, as there are many additional changes coming to this historic neighborhood. Over 6,000 residential units are in the development pipeline- estimated to bring in 15,000 new residents to the growing community. These units are majority two-three-bedroom apartments or townhomes spanning across Chosewood Park and Boulevard Heights. In addition, there are plans of commercial and retail space across 40 industrial acres in Chosewood Park. The new development proposals will be near the Southside Beltline that cuts right through Chosewood Park and links The Beacon, Grant Park, and Eastside Trail.

For more in-depth information on this time of growth and change as it relates to the market visit?https://evatlanta.com/market-research/.