Rent Cafe, an apartment finding service, reports that approximately 8,200 new apartments were added to the Atlanta Market in 2016, down slightly from the 8,300 added in 2015.
“Many of these new apartment buildings are full-blown, large-scale developments with parks, professional-like sports courts, golf courses, and other lavish auxiliaries meant to draw the high-end renters’ attention,” the company reported.
But the multitude of new apartments has kept rent prices in Atlanta low compared with other markets around the country.
“Rents in the Atlanta metro area grew by a moderate 5.5 percent in 2016, keeping the average rent for the area around $1,128 as of the end of last year, below the national average,” the website reported.
Apartment building in Beltline neighborhoods continues as the entity managing the multi-use trail, Atlanta BeltLine Inc., grapples with how to provide more affordable housing options.
According to Rent Cafe, the largest apartment developments that opened in 2016 are …
10. The Monroe in Atlanta: 217 rental units, located at 222 Colonial Homes Drive NW, Atlanta, GA 30309
9. Alexan Vinings in Atlanta: 232 rental units, located at 340 Cumberland Blvd SE, Atlanta, GA 30339
8. Mills Creek Crossing in Scottdale: 235 rental units, located at 3175 Mills Creek Circle, Scottdale, GA 30079
7. Heights at West Midtown in Atlanta: 244 rental units, located at 507 Bishop Street, Atlanta, GA 30318
6. Accent North Druid Hills in Atlanta: 310 rental units, located at 7 Executive Park Drive NE, Atlanta, GA 30329
5. Sixty 11th in Atlanta: 320 rental units, located at 60 11th Street NE, Atlanta, GA 30309
4. The Local on 14th in Atlanta: 360 rental units, located at 455 14th Street NW, Atlanta, GA 30318.
3. Gables Brookhaven in Brookhaven: 374 rental units, located at 4420 Peachtree Road NE, Brookhaven, GA 30319
2. AMLI Piedmont Heights in Atlanta: 375 rental units, located at 2323 Piedmont Road NE, Atlanta, GA 30324
1. Atlantic House in Atlanta: 407 rental units, located at 1163 West Peachtree Street NE, Atlanta, GA 30309
For the full Rent Cafe article, click here.