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The Streets of Buckhead or the Cranes of Buckhead?

Date Added: December 19, 2009 11:11:18 PM
Author: admin
Category: Community and Government

In the Midtown area, there are at least 1000 units of shadow inventory, condos from the Corus bank transaction, that are due to hit the market, such as the Atlantic and the Brookwood. No way home prices are going up in the nearby zip codes. Georgia is also in terrible shape with regard to banks and other commercial real estate, with bank takeovers by the FDIC only looking to increase next year. There's also one of the largest projects ever called the Streets of Buckhead, that has been sitting there idle, and is becoming known as the Cranes of Buckhead. Is there any hope for the Atlanta economy in 2010?

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