Tuesday evening at 6 p.m. there will be a rare Joint meeting of the Dunwoody City Council, the Dunwoody Planning Commission and the Dunwoody Development Authority to receive an update on the current state of the commercial market. Yesterday in my blog post on the Monday Budget Committee Meeting, I posted an opinion from Colliers on the financial real estate health of the Central Perimeter Business District and I am guessing this Tuesday evening briefing will also bring forward more information.
I am also guessing that this meeting will count as training to assure that we are all following proper zoning practices to make our decisions. The city has posted the agenda but no other documents for this meeting, that may change by Tuesday afternoon so please do check the City site in the agenda link below.
Here are some previous documents from the Edge City Study that is on the agenda.
Edge City 2.0 Update May vs Edge City 2.0 Update January
Articles below related
to Edge City by Atlanta Business Chronicle, - I have been arguing condos
over apartments for years and these articles finally lean that way.
How Dunwoody is plotting sustainable growth, with empty-nesters in mind
Shape our future:' Dunwoody to craft plan for reenergizing Perimeter Center
That being said, this meeting looks to have both Zoom access and public comment for those who may want to give feedback to the collective zoning decision makers in the community. Below are the links.
City Agenda Link
Zoom - https://us02web.zoom.us/j/84905806385
In a recent study by CBRE, an International Real Estate Research firm, the Perimeter District had the highest vacancy rate (37%) in the metro-Atlanta area. Our commercial space has over 2,700,000 square feet available for rent. This includes currently vacant and available for sublease space. This vacancy rate continues to rise. The full report by CBRE can be found at the following link. https://mktgdocs.cbre.com/2299/c31e61f6-33eb-4c88-9fc7-3cfbb1b4f72e-171886059.pdf
ReplyDeleteThe value of a commercial building is determined by the occupancy rate and the property tax rate is determined by the value. The majority of the taxes in Dunwoody is paid by these businesses. I would like to hear what is being done to fill these vacancies.
-Danny Ross
Amen Danny Ross. Programming in a deficit to the City Budget every year make get you bright shiny projects, but eventually you have to live within your means and establish a reserve for the time when you may have a critical need for an emergency.
ReplyDeleteI am hoping that our Council doesn't run their personal household finances like this.
So as stewards of taxpayer funds, why can't they have the same discipline?