So, I finally went down to see Atlantic Station for the first time this week to see how things have come along.  I really haven't been down there since they opened the Art Foundry condos.  After seeing those, I really thought Atlantic Station was going to be crap.   However, I must admit it that I was wrong, I actually found that it was a great place to go for shopping and a bite to eat.  I also stopped in the sales office for the new Atl Lofts, which I still wasn't able to see the inside of one of them.   I could definitely see why someone would purchase a unit, but the pricing is very expensive and I wonder whether or not they will be a good investment.  I do think the developer created such a big hype about them, which is very clever and in return drew alot of buyers in, but if the condo market in Atlanta doesn't turn around will purchasers get a good return on their investment???  Which leads me to all of the new construction that is currently happening in metro Atlanta. I have never been a big fan of new construction only because I don't believe purchasers will get much equity out of them.   I think that is especially true for hi-rise buildings in Midtown.  Metropolis, Spire, Twelve, Plaza Midtown, etc pretty much look the same from within the unit. Too many units that look the same just creates competition and with the condo market in the dumps already, how is it possible for someone to make money on it?  Look at Spire, they sold out within weeks and now since the building has been completed they have over 100 units on the market.  I'm sure that it was all investors that swooped them up and are trying to flip them but what about the one poor guy that bought it as a home and gets relocated out of state and needs to sell???  All I can say is...Good Luck!

Plus, I could point out many new buildings that construction is just plain lousy, I won't disclose which buildings on the blog because someone will be calling me up the next day to complain(Centennial Station) so I will contain my urge to do so.   This is especially true with the so called "soft" lofts.  Soft lofts for the most part look like a condo anyway, it's just a developer trying to cash in on the loft craze, so they put in an open air duct or  concrete floors and call it a loft.   I'm tired of soft lofts, I really hope that developers start building more lofts that have true "lofty" features.  More buildings like Glen Iris, Mathieson Exchange in Buckhead, even more warehouse conversions would be great.  

One more thing.......well, I guess I will save that rant for another time, it seems this post has gone long enough.  I think my New Years resolution is to make the 2006 posts a bit more interesting than last year.  Stay Tuned!  Nesa Kleinheksel