The renaissance of the American downtown as a place to live has come in response to people’s changing attitudes and lifestyle preferences. Even as working from home enabled families to move to more-affordable suburbs or to less-expensive parts of the country, many people are heading back to city centers to take advantage of the economic and social opportunities they uniquely provide.
Every major city around the county has been working towards revamping its urban core to house more residents, but no other has done it better than Atlanta. In fact, Atlanta’s downtown area has had the most impressive transformation of the decade with no less than 21,500 new apartments built from 2013 to today.
That’s according to our most recent research of the fastest-growing downtown apartment markets in the 100 largest cities in the US.
Some key highlights that brought Atlanta’s city center to the top:
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High-flying Atlanta increased its downtown apartment inventory by 50% over the past decade.
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While office workers aren’t yet returning in droves, people still seem interested in living in downtown Atlanta, which has another 7,000 new apartments currently under construction.
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Although the pandemic temporarily hampered the sector, with just 1,300 new units added in 2020, the decrease in activity was short lived, and last year over 2,700 new apartments were built in downtown Atlanta.
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With urban cores becoming the place to be for an increasing number of renters, the need for more space transferred to downtown areas as well. Leading both apartment and self storage construction, Atlanta’s downtown area saw the addition of almost 671K square feet of self storage space from 2013 to 2022.
This revitalization of our urban cores can in fact have various ramifications, including easing the access to downtown living and supporting the comeback of the brick-and-mortar retailers that have struggled to regain foot traffic. Do you think your audience would be interested in discussing these topics?
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