Douglas Sams | Atlanta Business Chronicle
Atlanta’s renewed population and job growth in the wake of the recession will require the public and private sectors to create more regional transportation initiatives — including ideas centered on transit oriented development.
That’s the conclusion of a new report from Cushman & Wakefield, a global commercial real estate services company.
Its findings show more Atlanta residential development is clustering near transit.
Of the 9,200 multifamily units under construction, more than 8,000 units are located within a one-mile radius of at least one MARTA rail station or major transit hub, according to the report. The trend is not only happening in urban areas. On the Atlanta Perimeter, State Farm InsuranceCo. is developing an office campus around the Dunwoody MARTA station, where it may eventually house up to 8,000 employees.
New development is also starting to sprout around the Atlanta Beltline and the Atlanta Streetcar route across parts of downtown, the report said.
Atlanta has earmarked $61 billion for transit-oriented improvements, but 70 percent of the investment is targeting the existing transportation facilities, according to Cushman & Wakefield. Read more