At the end of the second quarter it was evident Atlanta continues to expand in population and job growth. A strong underlying economy has kept investors and developers active in the market. New developments and infrastructure improvements continue to rise across the city. Select land deals demonstrate the growth Atlanta continues to enjoy.
In West Midtown, two new projects will bring for-sale residential units to the historically for-rent submarket. Edward Andrews Homes and Empire Communities plan to bring new townhomes along Huff Road while Monte Hewett Homes will embark on a condominium project just off Northside Drive. In Downtown, Greystar recently broke ground on Ascent Peachtree, a 345-unit development built atop the existing Peachtree Center parking garage. Emory recently announced preliminary plans for their newly expanded Midtown campus, including a $475 million cancer center.
With more people living in Atlanta than ever before, transportation options are becoming increasingly important. Innovative solutions, such as electric scooters, are beginning to change how people get around. Micro-mobility is one of the fastest growing transportation trends in recent history in terms of adoption. Bike sharing has grown at a greater than 14% compound annual growth rate (CAGR) over the last five years. The adoption of e-scooters is even more popular — capturing 3.6% market share since their launch in late 2017.
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