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How to Calculate NOI for Real Estate Investments

How to Calculate NOI for Real Estate InvestmentsKnowing how to evaluate rental properties is a must for real estate investors. The amount of profit that properties can potentially generate is key to choosing a real estate investment.…
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Renting Out a House on Airbnb: 8 Things to Know

Renting Out a House on Airbnb: 8 Things to KnowWith more than 7 million listings in over 220 countries and regions, Airbnb has grown tremendously since its launch in 2008. More and more people are jumping on board and…
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Signs the Economy has Started its Turnaround

Signs the Economy has Started its Turnaround

Is the Post Pandemic Economic Recovery Underway? As we approach June, the final month of the 2nd quarter, is it too early to speak about the economic recovery? The optimism of the stock market could help encourage more companies to resume business and for more employees to earn a pay check again. Earning a pay…

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Gov. Kemp extends public health emergency, but bars, nightclubs, summer school can open

Gov. Brian Kemp speaks at the State Capitol on May 28.

Gov. Brian Kemp announced this afternoon, May 28, that while he was renewing Georgia’s public health state of emergency for a third time to July 12, he would allow bars/nightclubs to reopen, summer school to convene, and loosen restrictions on social gatherings.

Kemp said “encouraging data” on COVID-19 cases prompted his decision to allow social gatherings of 25 people beginning June 1 if they follow social distancing guidelines. The governor said this decision would, hopefully, allow for small weddings and some sporting events to be held.

Also on June 1, bars and nightclubs can reopen if they follow 39 mandatory measures to “ensure patron well-being.” Nightspots will be limited to 25 people at a time or 35 percent of their total occupancy space.

Kemp said live performance venues will remain closed for now, but that his administration is working with operators to “prepare for the future.”

School districts can hold summer school classes starting in June, but must follow a set of criteria to be released in an executive order.

As of May 31, overnight summer camps will be permitted and banquet facilities can reopen if they follow similar guidelines for restaurants. Amusement parks and water parks can reopen on June 12.

Professional and amateur sports teams can resume practice on June 1, but Kemp said there was still no date for allowing games with fans in attendance.

Kemp said the shelter-in-place order for those 65 and older and the medically fragile would continue until June 20.

The governor’s loosening of restrictions comes as the number of COVID-19 cases has risen. According to a report in the AJC,  week to week cases of COVID-19 in Georgia increased  26 percent for the seven days ending May 24.

As of the afternoon of May 28, the number of confirmed cases in Georgia topped 45,000 and the death toll stands at 1,962.

The post Gov. Kemp extends public health emergency, but bars, nightclubs, summer school can open appeared first on Atlanta INtown Paper.

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Coronavirus Update – May 28: Mayor to testify before Congress; Pence returns; CVS testing; Well-Being Georgia launches

Atlanta Mayor Keisha Lance Bottoms will testify about the impact of COVID-19 on the city before a U.S. Congressional subcommittee on Friday, May 28. According to AJC, the noon hearing will focus on the need for more healthcare equipment, testing, tracing, containment plans, and economic hardships.

Also on Friday, Vice President Mike Pence will make his second visit to Georgia in a week to attend the funeral of evangelist Ravi Zacharias and meet with small business owners impacted by COVID-19.

CVS Health has opened 23 additional COVID-19 test sites at select CVS Pharmacy drive-thru locations across Georgia. A complete list of the testing sites can be found at this link.

Sharecare has entered a partnership with Augusta University and AU Health to support Gov. Brian Kemp’s efforts to bolster testing, and keep Georgians informed with localized updates and resources for COVID-19 through Well-Being Georgia. The site includes a directory of testing sites, interactive map of confirmed cases, access to AU’s telehealth service, guidance on latest local policies, and other tools to to manage personal well-being.

The post Coronavirus Update – May 28: Mayor to testify before Congress; Pence returns; CVS testing; Well-Being Georgia launches appeared first on Atlanta INtown Paper.

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Buyer’s Market: New townhomes, condos, & single-family homes available with low interest rates

Southerland by Hedgewood Homes

Despite the coronavirus pandemic, new townhomes. condos, and single-family homes are in search of buyers looking to take advantage of historically low interest rates.

Two Hedgewood Homes (hedgewoodhomes.com) neighborhoods – Southerland and Summerhill – have  also seen an increase in sales. Home sizes range from two- and three-story layouts and come with an on-site professional gardener to maintain each home’s garden. With prices starting in the $400,000s, the Southerland community in Lake Claire is also close to Candler Park, Edgewood, Inman Park, and Decatur. The Summerhill development, with homes beginning in the $300,000s, is part of the redevelopment of the historic Summerhill neighborhood, with an extension of the Georgia State University campus, new homes, retails, restaurants, offices and more.

Elle at Oakhurst

The Brightstar Team | COMPASS has three communities on the market right now – Elle at Oakhurst, The Row on Wylie, and Vernon in Ormewood Park – and are working to make viewing and buying the home as easy and safe as possible. You can take a virtual tour with an agent or get a private walk-thru depending on the community.

Currently under construction, the townhomes and single-family homes at Elle at Oakhurst (ElleAtOakhurst.com) in Decatur range in price from the $700,000s to $1 million. Several of the townhomes offer live/work options with retail on the first floor. Homes feature front porches and oversized screened-in outdoor living spaces. Spacious plans feature five bedrooms, four baths and two-car garages with kitchens adjoining to the living room with fireplace and owner’s suites with sitting rooms that open to screened porches.

The Row on Wylie

Nestled between Reynoldstown and Edgewood at 1194 Wylie Street, The Row on Wylie (TheRowOnWylie.com) features five townhomes offering1,689 square feet with three bedrooms, three-and-a-half baths and one-car garages. Notable appointments include open-concept living areas, kitchens with 42-inch painted cabinets, quartz countertops throughout and stainless-steel Whirlpool kitchen appliances, rooftop terraces, rear balconies, hardwood floors, and dual sinks in the owner’s suite bath. There are also rooftop decks and common area greenspace. The townhomes are priced from the $400,000s.

Priced from the low $600,000s, Vernon (OwnVernon.com) is located in Ormewood Park and offers 20 homes just steps from the Atlanta BeltLine, Glenwood Park and the Memorial Drive Corridor. Homes are arranged in a horseshoe layout facing a centrally located community pocket park. The homes range in size from 1,724 to 2,433 square feet with three-to-four bedrooms and two-and-a-half baths.

Kolter Urban has broken ground and started construction on Graydon Buckhead (thegraydon.com), a 22-story condo tower with 47 units. Offering views of Buckhead, Midtown, and Downtown, the project will offer two- and three-bedroom homes, ranging from just over 2,100 to 3,600 square feet, in addition to one 5,850 square-foot four-bedroom, five-and-a-half-bath penthouse. Pricing starts at $1.6 million.

Seven88 West Midtown

Seven88 West Midtown (788WestMidtown.com), the tallest high-rise development in West Midtown at 22 stories, has 279 residences with resort-style, luxurious amenities and curated interiors. Each unit – with studio, one-, two-, and three-bedroom options – has sweeping skyline views with floor-to-ceiling windows priced from the mid-$300,000s to $1 million-plus.

Compass Development Marketing Group and Dezhu US have announced the completion of J5 (OwnJ5.com), a luxury condominium community at the corner of Juniper and 5th Street in  Midtown. The six-story, 150-home complex offers large terraces, community spaces, pool courtyard with an outdoor kitchen, club room, garden courtyard, rooftop lounge, 24-hour security, one-story private gated parking and two boardrooms fully equipped with AV equipment to provide meeting space for homeowners who work from home. Home prices begin in the low $600s with a variety of two bedroom homes.

J5 Midtown

The post Buyer’s Market: New townhomes, condos, & single-family homes available with low interest rates appeared first on Atlanta INtown Paper.

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Tribute to mayors Ivan Allen Jr. and Maynard Jackson will include public artwork, archive

Mayors Ivan Allen Jr. and Maynard Jackson.

Central Atlanta Progress (CAP), in partnership with the City of Atlanta, has launched Atlanta Legacy Makers, an initiative to create a public artwork to commemorate former mayors Ivan Allen Jr. and Maynard Jackson.

The initiative will include a series of digital experiences, and later in-person events, designed to garner input about the artwork, which will located at the intersection of Peachtree Street and Auburn Avenue.

“The vision for this project has lived in the minds of community leaders for a long time now, and we’re excited to finally bring it to life,” said Fredalyn Frasier, Project Director of Planning and Urban Design at Central Atlanta Progress. “Honoring these two Atlanta mayors and their remarkable legacy is not just a curatorial effort. We’re looking forward to inviting the community to build this tribute project alongside us, resulting in a public archive and artwork that speak to the larger theme of a united Atlanta community.”

The idea for an artistic tribute to Mayors Allen and Jackson was born in 2018, when local developer Gene Kansas invited Gary Pomerantz, author of “Where Peachtree Meets Sweet Auburn,” to speak at the Auburn Avenue Research Library to celebrate the opening of Constellations, a shared work space in a neighboring historic building on Auburn Avenue. During the talk, Pomerantz highlighted the significance of both Atlanta mayors in the history of Atlanta.

Inspired by the talk and feedback from guests in attendance, journalist Maria Saporta wrote an opinion piece encouraging the city to commemorate the special relationship between the mayors in the form of a sculpture at the intersection of Peachtree Street and Auburn Avenue.

In 2019, Central Atlanta Progress convened an exploratory committee, and the idea for a selection process for a new piece of public art was formalized.

Originally intended to launch as a series of events across the city, in light of the COVID-19 pandemic, Atlanta Legacy Makers has kicked off through a series of shared online experiences, including Atlanta Legacy Makers: The Podcast, featuring local leaders and visionaries discussing the themes and historic events featured in the book “Where Peachtree Meets Sweet Auburn;” streaming film screenings of two documentaries with viewing guides, “Maynard” and “A Different Road;” oral history prompts for the general public to submit their own stories to the public archive; and more. Visit www.atllegacymakers.org to find links and more.

CAP will invite architecture and design firms to assemble collaborative teams of contemporary artists, landscape designers, and urbanists to submit qualifications for the public artwork, which will sit in the reimagined north side of Woodruff Park at the corner of Peachtree and Auburn.

The post Tribute to mayors Ivan Allen Jr. and Maynard Jackson will include public artwork, archive appeared first on Atlanta INtown Paper.

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Spike in Mortgage Demand: A Sign of Recovery

Spike in Mortgage Demand: A Sign of RecoveryThe effect of the coronavirus on the US housing market at the end of Q1 and the beginning of Q2 was apparent. Although many feared that real estate would not…
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Georgia Film, TV COVID-19 Best Practices Available to Industry as Production Planning Continues

Governor Brian P. Kemp announced a filming “best practices” guide for Georgia that offers guidance for Georgia’s thriving film and television industries to help reduce the spread of COVID-19 when productions resume in Georgia. The recommendations were developed in close cooperation with officials from studio and production companies who maintain a presence in Georgia, and they can be found online at the Georgia Film Office’s website here.

As future film and production planning continues, these best practices are available to anyone considering filming in Georgia while prioritizing the safety of all cast and crew. Companies may opt to use these recommendations in conjunction with industry-wide labor and management protocols as they are developed.

“We are so grateful to the hardworking people who make up and contribute to Georgia’s incredibly successful film and TV industry, and we thank them for all the ways they have given back throughout the state’s response to COVID-19,” said Governor Kemp. “The Georgia Film Office has maintained their close work with industry executives to develop these outlines for how productions can help protect cast and crew members. These best practices are offered as an addition to any industry-wide labor and management recommendations for protocol.

“Every element of what has made Georgia such a unique place for film – landscapes, production facilities, a skilled and growing workforce, with a pipeline of new labor thanks to the Georgia Film Academy and our College and Career Academies – are still in place, just as they were before this global pandemic. Last year, Georgia set a new record for film, and we will continue to work with our partners in the industry to get Georgia back on the same track that made our state the successful production center that it has been for years.”

Prior to the worldwide COVID-19 response, which brought film and television production activity to a virtual standstill worldwide, Georgia set a new record for film during fiscal year 2019. The 391 film and television productions that filmed in Georgia spent $2.9 billion in the state, supported 3,040 motion picture and television industry businesses, and delivered $9.2 billion in total wages.

“Georgia’s partnership with our film and television production industry is stronger than ever. During this global pandemic, we have maintained an open dialogue with our partners to protect Georgians working in the industry, while collaborating on best practices to bring production back and safely restart the economy. We applaud our industry partners for the ways in which they have continued to give back and support the state’s efforts to combat COVID-19,” said Georgia Department of Economic Development Commissioner Pat Wilson.

“The backbone of Georgia’s film and television industry is made up of small businesses in every corner of our state, and these businesses have helped create the environment that makes Georgia such an attractive place for productions,” Wilson added. “We will continue to help these important businesses navigate new circumstances. As we return to production across the state, there is no doubt Georgia will maintain its position as a powerhouse for film and television production.”

Georgia’s film workforce has used their talents to provide critical help and find work during the pandemic. More than 51,000 Georgians work in film and TV production, and while film projects are on short-term hiatus, many crew workers have adapted their skills to assist front line efforts. The Georgia Film Office spotlighted a few of these efforts. Support resources and assistance for industry professionals and businesses remains available on the Georgia Film Office website here.

Regardless of industry, Kemp is urging all Georgians to get tested for COVID-19. For more information on active testing sites across Georgia and how to schedule an appointment, click here.

For additional information on the impact of Georgia film in fiscal year 2019, click here.

The “State of Georgia Film and Television Production Best Practices to Reduce Contagion of COVID-19” guide is available here.

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SR Homes Names Chris Recker as CEO

Local home builder SR Homes is pleased to announce Chris Recker as its new Chief Executive Officer. As CEO, Recker is charged with managing the overall operations and resources of SR Homes.

Recker brings an impressive resume of 27 years in the homebuilding industry working for national builders such as Centex Homes and Lennar. In his most recent position with Grayhawk Homes, he served as the president of the building company.  

As Lennar Atlanta’s division president, a position he held for more than 2 years, he was responsible for profits and losses and managed all aspects of the Atlanta division. 

Recker first joined Lennar Atlanta in 2010 as director of construction, before being promoted to vice president of operations. In this capacity, he managed division activities related to construction, architecture, purchasing and customer care. Additionally, he was responsible for forward planning and keeping the division’s sales, starts and closings paced in order to meet quarterly goals.

Beginning in 1993, Recker started his career at Centex Homes in Atlanta. He holds a degree in business management from Ohio Wesleyan University and counts teamwork and relationship building as the cornerstones of his success in the homebuilding industry.

SR Homes currently has 12 active new home communities in sought-after, highly ranked school districts within Forsyth, Clarke, DeKalb, Fulton, Gwinnett, Hall and Oconee counties. Known for designing homes for livability, SR homes are built with superior-quality materials and feature distinctive exteriors, generous interiors and thoughtful outdoor living spaces that reflect the way families and individuals live today. 

To learn more about new home opportunities from SR Homes, visit www.SRHomes.com.