I can't even finish this article. Nolan is disguising his development. If it were rezoned, there would be nothing stopping him from building and selling as an apt building.
People don't move to East Point to buy condos at that price point. Condos would have to be $199k-225k for 2/2 But w travel industry hurting idk if this profile still would be attractive. But upscale townhomes w a small private yard, yes. The location itself won't attract high end, so even town homes may need to be under $300k
That brings back to Nolan's need for rezoning. Is he overpaying for land? overpaying development costs? Or just trying to sling a huge profit margin? Those are the real questions to reveal his motives.
His comments are not cringe worthy at all. He's honest. The city needs council and a mayor who know the 21st century. Need young professionals and new development in East Point, soon. We're so behind our neighboring cities. Every project doesn't have to be available to every person. We have enough low, medium houses here already. Just feel bad for the developer, what a waste of time and Lots of money.
I really wish they would allow this build. If East Point wants to attract other high end residents, our leaders are going to have to understand that evolving a community is not a 1 size fits all. If you want lower end townhomes then offer it as well in another rare of East Point. You have to elevate the price in some areas to attract a diverse community and bring in other professionals.
Thanks for reading and for the feedback! When I covered the meeting to write the article, I didn't pick up that council members opposed an upscale development. Instead there's a desire for it to include an affordable housing component – similar to developments around the Beltline.
Personally I don't find anything insulting in honesty. If you find his honesty or his frank words insulting. Maybe that is something "you" need to look into oneself. If people can't have frank conversations without being on the constant defense, we will always be in a constant battle with each other. I'm sorry to say this stands true for the Mayor and the council members. Additionally, Nolan is right about mortgages in the area, he leaves off that they rose to that level because of increased Fulton County taxes (ie. escrow payments have gone up) and new young homeowners in the area paying PMI. In contrast, rent in the area is far less because of the large body of landlords who own desolate properties that they nor their tenants take care of. If we truly want to beutify our neighborhoods, go after the slumlords first, enforce codes, ensure people are living in safe environments. Then there is downtown, stop making excuses for letting this city crumble. The infrastructure here is in crumbling and the low income people the council is trying to protect are just being oppression for a lack of any opportunities. For example an affluent downtown with opportunity for jobs and social community growth would help people economically. Alas, the city, city council and the Mayor seem to happy with hanging right above the poverty level in this country, city and state. And, to me that is shameful.
Thanks for the comments! Frank conversations are good and necessary. But there's no need to demean folks, lecture them and have a developer who works on Peachtree Street suggest he knows more about East Point than City Council members. That's what this developer did on Monday.
Prior to buying here the I understood the City Managers goal was to work on all these abandoned houses, buildings etc. to improve East Point. Maybe the council members should take a tour together. Beginning with the big dilapidated building at Connally & Main Street, drive on side streets, every street has new owners fixing their homes up and in between are burned abandoned homes that code enforcement does nothing about. This town needs to be cleaned up and improved. I agree 100% with the developer WHY would we pass an opportunity to improve. I didn't find his comments to be insulting.... like I said, ride around!
Thanks for reading and for offering your thoughts on the issue. The city has a "50 Worst Properties" program where it pursues the worst of troubled properties. But it often takes time to track down the owners (who often don't live here), untangle the shell of corporations they hide behind and pursue them in court.
Fair point, it doesn't sound demeaning to me but I wasn't there or watching on zoom. My opinion is based on the article. But more importantly thanks for putting in the work and I'm glad I found this all. I look forward to more stories.
The developers intent is to make a large profit. It's much more profitable to do a 48 unit condo building, than a 10 unit townhome, where the 2br condo & 2 br townhome would sell for roughly the same price. I had this land listed a couple of years ago and the owner owns it free and clear. It didn't sell because he wanted over $200k for it. I think he's partnered with a developer to try & build these condos, and since he owns the land free & clear, they'll split the profit on each sale. After construction costs, there wouldn't be much profit to split if it were just 10 townhomes, but it would be a lot to split on 48 condos!
You're right. The property owner has a developer spearheading the project. Documents show that the property lives in Tennessee, while the developer is in Atlanta.
I live near here and I don't want anything resembling an apt building in the area. It doesn't fit the neighborhood.
Thanks for the feedback!
I can't even finish this article. Nolan is disguising his development. If it were rezoned, there would be nothing stopping him from building and selling as an apt building.
People don't move to East Point to buy condos at that price point. Condos would have to be $199k-225k for 2/2 But w travel industry hurting idk if this profile still would be attractive. But upscale townhomes w a small private yard, yes. The location itself won't attract high end, so even town homes may need to be under $300k
That brings back to Nolan's need for rezoning. Is he overpaying for land? overpaying development costs? Or just trying to sling a huge profit margin? Those are the real questions to reveal his motives.
Thanks for reading East Point Local and for your comments.
His comments are not cringe worthy at all. He's honest. The city needs council and a mayor who know the 21st century. Need young professionals and new development in East Point, soon. We're so behind our neighboring cities. Every project doesn't have to be available to every person. We have enough low, medium houses here already. Just feel bad for the developer, what a waste of time and Lots of money.
I really wish they would allow this build. If East Point wants to attract other high end residents, our leaders are going to have to understand that evolving a community is not a 1 size fits all. If you want lower end townhomes then offer it as well in another rare of East Point. You have to elevate the price in some areas to attract a diverse community and bring in other professionals.
Thanks for reading and for the feedback! When I covered the meeting to write the article, I didn't pick up that council members opposed an upscale development. Instead there's a desire for it to include an affordable housing component – similar to developments around the Beltline.
Personally I don't find anything insulting in honesty. If you find his honesty or his frank words insulting. Maybe that is something "you" need to look into oneself. If people can't have frank conversations without being on the constant defense, we will always be in a constant battle with each other. I'm sorry to say this stands true for the Mayor and the council members. Additionally, Nolan is right about mortgages in the area, he leaves off that they rose to that level because of increased Fulton County taxes (ie. escrow payments have gone up) and new young homeowners in the area paying PMI. In contrast, rent in the area is far less because of the large body of landlords who own desolate properties that they nor their tenants take care of. If we truly want to beutify our neighborhoods, go after the slumlords first, enforce codes, ensure people are living in safe environments. Then there is downtown, stop making excuses for letting this city crumble. The infrastructure here is in crumbling and the low income people the council is trying to protect are just being oppression for a lack of any opportunities. For example an affluent downtown with opportunity for jobs and social community growth would help people economically. Alas, the city, city council and the Mayor seem to happy with hanging right above the poverty level in this country, city and state. And, to me that is shameful.
Thanks for the comments! Frank conversations are good and necessary. But there's no need to demean folks, lecture them and have a developer who works on Peachtree Street suggest he knows more about East Point than City Council members. That's what this developer did on Monday.
Prior to buying here the I understood the City Managers goal was to work on all these abandoned houses, buildings etc. to improve East Point. Maybe the council members should take a tour together. Beginning with the big dilapidated building at Connally & Main Street, drive on side streets, every street has new owners fixing their homes up and in between are burned abandoned homes that code enforcement does nothing about. This town needs to be cleaned up and improved. I agree 100% with the developer WHY would we pass an opportunity to improve. I didn't find his comments to be insulting.... like I said, ride around!
Thanks for reading and for offering your thoughts on the issue. The city has a "50 Worst Properties" program where it pursues the worst of troubled properties. But it often takes time to track down the owners (who often don't live here), untangle the shell of corporations they hide behind and pursue them in court.
Fair point, it doesn't sound demeaning to me but I wasn't there or watching on zoom. My opinion is based on the article. But more importantly thanks for putting in the work and I'm glad I found this all. I look forward to more stories.
Thanks! Appreciate you reading the article and taking the time to comment.
The developers intent is to make a large profit. It's much more profitable to do a 48 unit condo building, than a 10 unit townhome, where the 2br condo & 2 br townhome would sell for roughly the same price. I had this land listed a couple of years ago and the owner owns it free and clear. It didn't sell because he wanted over $200k for it. I think he's partnered with a developer to try & build these condos, and since he owns the land free & clear, they'll split the profit on each sale. After construction costs, there wouldn't be much profit to split if it were just 10 townhomes, but it would be a lot to split on 48 condos!
You're right. The property owner has a developer spearheading the project. Documents show that the property lives in Tennessee, while the developer is in Atlanta.