To Invest or Not: Turner Field Atlanta (Peoplestown)

[Azeez K.]

Dear All,

Hope this message finds you all doing well. I am writing to get your thoughts on investing close to Turner Field /Peoplestown Atlanta GA.

I currently have a SFR under contract (due-dilegence period). The house was built in 2004 and is over 3000 sqft with 4 Bed 3 Bath and is in great condition. The house in question is about 6 min walking distance from Turner Field at the same time a short drive from Grant Park proper.

I want to get market insights from fellow investors in Atlanta and get their point-of-view on what they are seeing around Peoplestown/Turner Field area and their thoughts about investing close in the area.

I recently read an article in AJC about GSU plans to develop Parking lots and the redevelop the entire area. In addition, the house in question is walking distance from the proposed south east beltline trail.

My questions are below:

1. Are you currently experiencing developers/re professionals within your network investing in the Turner Field area?

2. If you currently have a property in the area how easy/difficult is it to rent a single family residence and what is your tenant profile like?

3. Would you consider investing around turner field as part of your long term strategy or are there better alternatives that should be considered from a long term buy and hold here in Atlanta?

Again appreciate you taking the time to read the post and your input.

Thanks

[Ali Boone]

Well definitely don't depend on Turner but Turner leaving does open up the area for some major development. My best friend, also a commercial RE agent, lives in Summerhill right there and thinks Turner leaving will really help them out. BUT, the unfortunate part there is speculation. The other issue that you don't specify in your post is which area around Turner specifically are you referring to? There are some really sketchy areas on certain sides of it that I wouldn't touch for a while. The nicer sides, like Summerhill, so far haven't been overly advantageous from a cash-flow perspective because prices are still too high. So, to invest there would be solely for the appreciation play in my opinion and I would wait to see how this Turner thing starts panning out first, actually more so the potential developments there. If those don't happen, you'll lose.

(my profile says I'm in LA but I'm from Atlanta and know all the areas and am in Summerhill actually visiting multiple times a year. Just in case you wonder how I know what I'm talking about :) )