Comments on: Atlantic Station Condos Bite the Bullet http://www.decaturmetro.com/2009/02/04/atlantic-station-condos-bite-the-bullet/ Decatur Georgia News, Events, Atlanta News Sat, 23 Jun 2012 13:34:44 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Nelliebelle1197http://www.decaturmetro.com/2009/02/04/atlantic-station-condos-bite-the-bullet/#comment-6311 Nelliebelle1197 Fri, 06 Feb 2009 13:54:52 +0000 http://www.decaturmetro.com/?p=20705#comment-6311 Has anyone else heard the rumor that AS condos are being rented out with Section 8/Housing Choice vouchers from the housing communities (projects) that are being torn down by AHA? I think its great if former Bowen Homes residents can live in a place like AS, but with the splash AS made about being an upscale development, I find it kind of odd the developer would be so generous (I guess desperation breeds a charitable heart). Anyone else heard this? Has anyone else heard the rumor that AS condos are being rented out with Section 8/Housing Choice vouchers from the housing communities (projects) that are being torn down by AHA? I think its great if former Bowen Homes residents can live in a place like AS, but with the splash AS made about being an upscale development, I find it kind of odd the developer would be so generous (I guess desperation breeds a charitable heart). Anyone else heard this?

]]> By: davidhttp://www.decaturmetro.com/2009/02/04/atlantic-station-condos-bite-the-bullet/#comment-6310 david Thu, 05 Feb 2009 18:23:22 +0000 http://www.decaturmetro.com/?p=20705#comment-6310 Hey, I guess nobody wants to live above a big box retailer overlooking a parking lot in badly constructed ugly building. Surprise, surprise, surprise. Hey, I guess nobody wants to live above a big box retailer overlooking a parking lot in badly constructed ugly building. Surprise, surprise, surprise.

]]> By: Rickhttp://www.decaturmetro.com/2009/02/04/atlantic-station-condos-bite-the-bullet/#comment-6309 Rick Thu, 05 Feb 2009 16:06:30 +0000 http://www.decaturmetro.com/?p=20705#comment-6309 Big article in the New York Time's yesterday. Apparently downtown Chicago is completely awash in unsold condos as well. Definitely not just an intown Atlanta problem.The city added 4,600 new condo units in the downtown area in 2008, with another 4,700 units scheduled to be completed this year. The rate at which these new units are being occupied is lagging, however.“Absorption last year was terrible — probably around 1,000 units,” said Gail Lissner, vice president of the Chicago-based Appraisal Research Counselors, which tracks downtown condo sales. “It’s going to take some time to work through this inventory.”http://www.nytimes.com/2009/02/04/business/04chicago.html?_r=1&scp=1&sq=chicago%20condominiums&st=cse Big article in the New York Time’s yesterday. Apparently downtown Chicago is completely awash in unsold condos as well. Definitely not just an intown Atlanta problem.

The city added 4,600 new condo units in the downtown area in 2008, with another 4,700 units scheduled to be completed this year. The rate at which these new units are being occupied is lagging, however.

“Absorption last year was terrible — probably around 1,000 units,” said Gail Lissner, vice president of the Chicago-based Appraisal Research Counselors, which tracks downtown condo sales. “It’s going to take some time to work through this inventory.”

http://www.nytimes.com/2009/02/04/business/04chicago.html?_r=1&scp=1&sq=chicago%20condominiums&st=cse

]]> By: Nelliebelle1197http://www.decaturmetro.com/2009/02/04/atlantic-station-condos-bite-the-bullet/#comment-6308 Nelliebelle1197 Thu, 05 Feb 2009 13:49:20 +0000 http://www.decaturmetro.com/?p=20705#comment-6308 I am so glad others pointed out the shoddy construction at AS. I was pretty shocked as it was going up. I am over there at lot actually for meetings at Wachovia and BBT. I actually go over there quite a bit for "mall" type stuff because of proximity to my downtown job. I never see anyone walking and I don't think it's exclusively because of lack of condo owners. It's just not well done. I am so glad others pointed out the shoddy construction at AS. I was pretty shocked as it was going up. I am over there at lot actually for meetings at Wachovia and BBT. I actually go over there quite a bit for “mall” type stuff because of proximity to my downtown job. I never see anyone walking and I don’t think it’s exclusively because of lack of condo owners. It’s just not well done.

]]> By: Stevehttp://www.decaturmetro.com/2009/02/04/atlantic-station-condos-bite-the-bullet/#comment-6307 Steve Thu, 05 Feb 2009 01:11:18 +0000 http://www.decaturmetro.com/?p=20705#comment-6307 I know of a condo conversion in Midtown that assessed a $10K per bedroom fee to rebuild a defective parking deck, even after they won a lawsuit with the developer and the architect. I know of a condo conversion in Midtown that assessed a $10K per bedroom fee to rebuild a defective parking deck, even after they won a lawsuit with the developer and the architect.

]]> By: Scotthttp://www.decaturmetro.com/2009/02/04/atlantic-station-condos-bite-the-bullet/#comment-6306 Scott Wed, 04 Feb 2009 23:38:38 +0000 http://www.decaturmetro.com/?p=20705#comment-6306 My brother -- You'll find no greater ally than me when it comes to the shoddy, disposable architecture and construction that characterizes Atlantic Station. Absolutely contrary to the overall environmental intent of the project. The styles are trendy and temporary, so who'll wanna preserve them over the long haul? And throw in that it's all condo ownership and I guarantee that it's gonna be a legal nightmare once those buildings hit their "design life."Looks like they'll be collecting a "rebuild the whole building" special assessment fee from the residents. Good luck with that. My brother — You’ll find no greater ally than me when it comes to the shoddy, disposable architecture and construction that characterizes Atlantic Station. Absolutely contrary to the overall environmental intent of the project. The styles are trendy and temporary, so who’ll wanna preserve them over the long haul? And throw in that it’s all condo ownership and I guarantee that it’s gonna be a legal nightmare once those buildings hit their “design life.”

Looks like they’ll be collecting a “rebuild the whole building” special assessment fee from the residents. Good luck with that.

]]> By: Decatur Metrohttp://www.decaturmetro.com/2009/02/04/atlantic-station-condos-bite-the-bullet/#comment-6305 Decatur Metro Wed, 04 Feb 2009 22:14:28 +0000 http://www.decaturmetro.com/?p=20705#comment-6305 DEM, I suppose that the "false promises" thing was kind of extreme. If its possible to walk, why wouldn't you? But there are obstacles other than distance that keep people from choosing an alternate form of transportation.Scott, probably my bad. I feel a bit of "blogger's block" today.Agreed that AS is better than far-reaching subdivisions, if for nothing else than the environmental benefit. BUT it would be even more environmentally-friendly if more folks chose to live there! :-) Also, what if the effort fails and it needs to be leveled? All that rubble going to the dump...does that offset the shorter commutes of a few years? DEM, I suppose that the “false promises” thing was kind of extreme. If its possible to walk, why wouldn’t you? But there are obstacles other than distance that keep people from choosing an alternate form of transportation.

Scott, probably my bad. I feel a bit of “blogger’s block” today.

Agreed that AS is better than far-reaching subdivisions, if for nothing else than the environmental benefit. BUT it would be even more environmentally-friendly if more folks chose to live there! :-) Also, what if the effort fails and it needs to be leveled? All that rubble going to the dump…does that offset the shorter commutes of a few years?

]]> By: Freakanomichttp://www.decaturmetro.com/2009/02/04/atlantic-station-condos-bite-the-bullet/#comment-6304 Freakanomic Wed, 04 Feb 2009 22:09:08 +0000 http://www.decaturmetro.com/?p=20705#comment-6304 Charm is hard to build in a few years. Atlantic Station will probably fall apart in the next 20 years. There won't be a right angle left on any building. Some of the properties already look a little saggy. That kind of cheap construction will continue to loose its value until some horrible act of violence happens down there and then the value will nose dive even harder. It's sad to say, but AS is sinking fast and I feel terrible for the people who bought into that dream. A $90,000 condo in the middle of a major city.....that says it all. These numbers are unveiling the realities of these quick charm projects. Plus, the commercial rents in AS are so high only a big box retailer could even phathom it. They will never have cool independent stores at those rents. I've seen the GAP and Best Buy. They are not that interesting and hardly deserve a special trip to Atlantic Station. Thank God for Ikea, though. Charm is hard to build in a few years. Atlantic Station will probably fall apart in the next 20 years. There won’t be a right angle left on any building. Some of the properties already look a little saggy. That kind of cheap construction will continue to loose its value until some horrible act of violence happens down there and then the value will nose dive even harder. It’s sad to say, but AS is sinking fast and I feel terrible for the people who bought into that dream. A $90,000 condo in the middle of a major city…..that says it all. These numbers are unveiling the realities of these quick charm projects.
Plus, the commercial rents in AS are so high only a big box retailer could even phathom it. They will never have cool independent stores at those rents. I’ve seen the GAP and Best Buy. They are not that interesting and hardly deserve a special trip to Atlantic Station. Thank God for Ikea, though.

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