A question that I get asked a lot is what neighborhoods are the best for investment. There are a ton of variables that go into answering that question, is it purchasing a condo or loft in the oh so popular neighborhood of Midtown where they are desperately trying to create the "Peachtree Mile" or is it in the smaller neighborhoods that are still in transition. We always hear that "location" is the best way to go, but is it???? Midtown is on the way to becoming a walkable neighborhood but with the amount of newly constructed hi-rise buildings that are so similar to one another it is becoming more difficult to gain that instant equity. Personally, I feel that if you buy in Midtown you better hold onto that property for at least 5 years until the building of new condo hi-rises slow down. Areas such as Cabbagetown, Grant Park, and Castleberry Hill are areas that are growing rapidly and quickly becoming more desirable areas to live in. These areas are small neighborhoods so you don't have to worry about competing with as much new construction as what you would in Midtown.
Castleberry Hill is on that verge of becoming a hot spot for restaurants and night life and any time retail enters a neighborhood the people will follow. No Mas Cantina, Wasibi and Slice have quickly turned the neighborhood around and now with several other restaurants opening soon including Noir, OWC Wine bar and several others in the long term will transition the neighborhood into a desirable walkable area. New condo buildings including Castleberry Pointe and Railside Lofts will also offer more opportunities for more restaurants and retail. Both buildings will hopefully be completed in 2008, so the time is right to buy in Castleberry Hill now before the turnover happens.
Cabbagetown is another hot little area to get into, although they are a bit more spread out than Castleberry Hill they also have a handful of restaurants that have opened in the last year. Again, it is another area that is in transition but turning quickly. Agave, Carroll St. Cafe and Milltown Arms are just a few of the restaurants located in Cabbagetown.
The next subject that I will write about are which buildings are the best investment......stay tuned! Nesa Kleinheksel - The Loft Stop
