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.
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.
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!
I live near here and I don't want anything resembling an apt building in the area. It doesn't fit the neighborhood.
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.
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.
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!