This evening there was a presentation on the financial market forces affecting future re-development of the aging apartment complexes on the Southeast side of Dunwoody along Peachtree Industrial Blvd and abutting 285 at North Peachtree Road. There was also a list of suggested improvements for the meeting attendees to vote upon which ranged from redeveloping the Winters Chapel area, adding mixed use to some apartment complexes, having public trails added through the large apartment complexes and other sidewalk and beautification suggestions. Some of these ideas might sound great but know that the landowners have full control as to when they want to redevelop and where the trails will be allowed, therefore based on the current profitability of the apartments and the rate of return, the expectations are that change to these large parcels will be slow in coming. That being said, these meetings are setting the stage for an action plan when redevelopment is eventually proposed.
I was a little shocked to read how profitable those apartment complexes are. I recall a few years back when at least one of those complexes fought hard against remedying city code violations and even tried to sue.
ReplyDelete