Comments on: Is DeVry Property a Potential Burden or Cash Cow?

By: David

David — Mon, 20 Jul 2009 14:19:47 +0000

The only thing that’s more overbuilt than SFD in Atlanta at the moment are condos and townhomes.

In addition I really don’t think the financing is there at the moment. 52 banks and counting have been taken over by the FDIC this year. Most of them were of the developer piggy bank variety.

So the money side of this will be problematic for the foreseeable future.

Any dev with cash right now could hammerlock the city for anything it wants, zoning variances, infrastructure improvements, you name it.

But I really think it’s going to be a long time before any project of this size get built in Atlanta without government money.

By: Brad Steel

Brad Steel — Sun, 19 Jul 2009 21:50:55 +0000

Dekalb County’s land use controls, including zoning, are horrible for communities and great for developers. Those of Decatur are much more balanced and IMHO produce some of the best results in the metro area.

Currently, in the medium term and if zoning allows, the most marketable use of the site is similar to other nearby developments – a big surfaced-parked apartment complex. Traffic patterns won’t support retail and other types of lower density housing won’t produce the returns of a big apartment property.

By: Man on the Moon

Man on the Moon — Sun, 19 Jul 2009 16:13:58 +0000

I agree with Scott. If we’re going to speculate potential outcomes, they do need to at least appear as probable. I did read the trends, Scott, and I’m lovin’ it.

I have a habit of only agreeing with commentors and not creating my own topic of discussion. Decatur Metro, what do you think? Is DeVry Property a potential Burden or Cash Cow?

-Man on the Moon

By: Pete

Pete — Sun, 19 Jul 2009 02:36:57 +0000

Sorry, I meant to say in respone to Steve that I’ve never had the opportunity to elect Floyd “mayor” or city commissioner or whatever.

By: Pete

Pete — Sun, 19 Jul 2009 02:35:11 +0000

No, actually, Brad, Mayor Floyd is elected by voters in the north side of the city and is “elected” Mayor by the votes of the city commission. I’ve never had the opportunity to vote for or against Bill Floyd and certainly have not had the opportunity to elect Peggy.