Metro Atlanta is on a hot streak.
According to the most recent Census Bureau estimates, more than 6 million people now live in the region. Experts say that this is almost 50% more than what it was 20 years ago.
“It’s a huge increase in population,” said Dan Immergluck, professor of urban studies at Georgia State University. “Who imposed an environmental tax on the region.”
financial and technology firms Continue flocking towards metro Atlanta. This is based on the city’s strong logistics, entertainment and film, and healthcare industries.
The demand for quality housing has become acute in the region, especially in the city centre.
“Atlanta is becoming a broader city,” said Nathaniel Smith, founder and chief equity officer of the Partnership for Southern Equity. “Now, will we be able to kind of balance that and make sure that, you know, black people don’t get pushed out … I’m not sure.”
In September 2022, the median home value in downtown Atlanta is expected to be nearly $400,000, according to Zillow’s Home Value Index, This price would be out of reach of the common household of the city of Atlanta, which was built about $64,179 annually in recent years, Rents have also ticked above the national average.
Some Atlanta locals believe that ambitious urban redevelopment projects such as the BeltLine have contributed to the rapidly rising prices in the area.
The Beltlines are 22-mile-long walking and cycling trails built largely on abandoned train lines and developed as a public-private partnership.
It was intended to connect the city’s distinct neighborhoods and create walkable communities along the path, where residents could access a variety of services without the need for a car.
atlanta beltline inc. “To date, we have invested approximately $700 million in Beltline,” said Clyde Higgs, CEO of Beltline. “What we’ve seen is roughly $8 billion of private investment that has followed the Beltline. It has created many good things and also many pressures within the city of Atlanta.”
While the area continues to grow, a group of community organizers is launching efforts to preserve housing affordability.
“It would have been great to have had the opportunity to secure more land earlier in the life of the Beltline,” said Amanda Rhine, executive director of the Atlanta Land Trust, “as property values continue to rise in close proximity to the project.” ,
Watch the video to see how Atlanta plans to maintain housing affordability amid rapid growth.