By: Karen G. Hatcher, CPM®
It’s undeniable that Atlanta is experiencing an economic boom! To maintain this upward trajectory, we must strike the right balance between meeting the needs of our communities and fostering a business-friendly environment.
It’s undeniable that Atlanta is experiencing an economic boom! 💸 To maintain this upward trajectory, we must strike the right balance between meeting the needs of our communities and fostering a business-friendly environment. Our incredibly diverse population sets Georgia apart, which has proven to be a major draw for businesses.
That said, we must remain vigilant in creating enough housing for all citizens while preserving the unique Atlanta charm we know and love. By keeping business taxes low and maintaining free enterprise, we can continue to appeal to new business ventures and bring even more prosperity to our city. Let’s work with the correct partners to ensure harmony in our fantastic city’s growth! 🌆
Now, on to real estate trends in Atlanta – there’s no stopping our expansion! Metro Atlanta does not have a mountain or an ocean that can prevent development from moving horizontally across our region. 🚀 Developments are popping up left and right throughout the metro area, and for years, residents would just “drive until they can afford it.” However, now, it’s about creating diverse housing options within each neighborhood, and the biggest challenge is finding affordable housing as the prices continue to rise. A solution to this problem is incentivizing and removing barriers for developers to build more affordable housing.
One way to do this is to offer tax breaks or other financial subsidies to developers who build affordable housing. Another way is to remove exclusionary zoning in municipalities that require stipulations that take the cost of the property up, i.e., large minimum lot parcel sizes, 4-sided brick, or larger minimum square footage, to name a few. Capital funders can also start to partner with and fund developers and builders dedicated to working in this space. By taking these steps, we can ensure everyone can access affordable housing options to live in metro Atlanta.
In addition to government action, private and non-profit organizations are working together to increase the supply of affordable housing in Atlanta. These organizations provide financial assistance to low- and moderate-income families, fund and develop affordable housing communities, educate consumers about the home buying process, and educate Realtors on negotiating with sellers on offers that include down payment assistance or lower down payment loan options.
By working together, we – Realtors, Developers, Builders, the government, and private organizations can make a real difference in the lives of Atlanta residents. We can ensure that everyone has access to a safe and affordable place to live and that our city continues to grow, thrive and prosper.
You can read the full article by clicking here. I’m excited to build affordable/workforce housing solutions with a team of incredible partners who put the HEART into their work.
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