Over the next 10 years, the population of Atlanta is projected to grow by 2.5 million. The influx of people and companies relocating to the city continues to bring more opportunity for commercial real estate development. And with the rise in commercial development follows the rise in storytelling from The Wilbert Group.
Many of the clients we work with are in the commercial real estate industry and part of the development boom that we are currently experiencing in the Atlanta market. From multifamily housing to mixed-use destinations to stadiums, developers are becoming more innovative with every lift of the crane. Surely people across the country are puzzled by the same question: what makes Atlanta so attractive?
To start, our job market is extremely diverse. Let’s look at the film industry. Atlanta has become a highly sought-after location for shooting motion pictures and television shows which boosted its ranking to third in the nation at the end of the 2016 fiscal year.
Our city is also home to four prominent medical institutions, Atlanta Medical Center, Piedmont Healthcare, Grady Memorial Hospital and Emory Healthcare, just inside of the perimeter with several more expanding across metro Atlanta. We also boast two of the best global educational institutions – Georgia Tech and Emory University. According to a recent ranking by Times Higher Education, Atlanta is tied globally for fourth place on the list of best university cities where the top 100 colleges are located around the world.
Back to the developments. Intown Atlanta has seen drastic changes over the past few years thanks to the rise of the urban lifestyle. At the end of 2016, Midtown earned the title of “development capital of Atlanta” with a total of 22 cranes spotted in the small one-mile radius. Make no mistake though; Buckhead is in hot pursuit to take that title with a total of 33 projects currently underway or recently proposed, one of those being Wilbert client Emerson Buckhead.
Inspired by our clients, we have been experiencing a season of growth ourselves with the hiring of five new employees since the beginning of the year. This growth has allowed us to extend our reach and continue sharing the passion behind each of our client’s projects.
Last week, Wilbert client Randolph Williamson sat down with Craig Lucie of WSB-TV to discuss the shortage in the workforce as a direct result of the major development rise. Another Wilbert client, Cooper Carry, was also recently recognized in the Atlanta Business Chronicle for the design of one the many company relocations that incorporates a connection to MARTA.
Colony Square in Midtown is planning to celebrate its groundbreaking redevelopment project later this year and The Wilbert Group has been helping to reimagine the property. Keeping on the topic of innovation, Wilbert client Pollack Shores is developing three luxury apartment communities adjacent to the new Braves stadium and recently discussed the strong leasing momentum for Home at The Battery Atlanta with 11Alive.
One last Wilbert client shoutout goes to Franklin Street who not only revitalized a previously troubled asset, but also sold it for $5.65 million, setting the new record for highest sale price of a 1960s multifamily complex.
We could brag about our clients all day – but we won’t. Instead, continue watching them make history.