We read Chris Leinberger’s and the ARC’s report on where development is happening in Atlanta now. Leinberger has studied Atlanta’s real estate market for years. We wrote about the study recently here. One of the surprising facts is how much development is happening in what Leinberger rates as ‘walkable’ neighborhoods. His study showed that 60% of all development since 2008 had taken place in walkable neighborhoods. We found this really surprising. We’ve written extensively how a new urbanism is causing people to move to more urban areas and how those same people were willing to pay significant premiums to live in these neighborhoods.
But we dug further into the study and it’s even more surprising. When we look at the neighborhoods that were considered walkable, they are only a small portion of the Atlanta area. In fact if you add up all the area that these walkable neighborhoods include they only add up to about 1% of all the area of Atlanta! That’s an amazing statistic and it has huge implications for our city and for you. If you’re thinking of buying you need to be considering walkable of future walkable areas. It could have a tremendous impact on future value.
While it’s not perfect this site, Walkscore , is a good way to rate neighborhoods that you’re not familiar with. And stay tuned as we’re still researching this report and we’ll have more on it. Need more info? Give us a call today or shoot us an email. We’d love to help.