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Does “More MARTA” Mean More Development Opportunities?

January 10, 2018

It seems every Atlantan struggles with his/her daily commute, especially in the prime of rush hour. The 2017 American Community Survey (ACS) ranked Atlanta with the fifth-longest one-way commute time among major US cities at 32.3 minutes. For several years, the City of Atlanta has been exploring opportunities that decrease commute time for motorists, and provide options for multimodal transit. This includes a half-penny sales tax passed with overwhelming support in 2016 to fund the expansion of MARTA (Metropolitan Atlanta Regional Transit Authority).

The expansion, known as “More Marta” is the City’s largest transit investment ever, and there are several proposed expansion scenarios and projects at play. On October 4th, MARTA’S Board of Directors will vote on how to spend the expected $2.5 billion in tax revenue over the next 40 years. An online survey conducted this summer asked Atlantans how they would like to see the sales tax revenues spent. Light Rail Transit (LRT) that will connect to existing MARTA rail system for the Clifton Corridor, BeltLine Northeast, and BeltLine Southwest were ranked as the highest priority for respondents.

The presence of LRT along the proposed corridors will increase demand for residences, employment opportunities, and services – making the adjacent properties more attractive to developers. Using Latapult’s Atlanta Property Investment Application, we’ve located potential areas for growth where sales have been frequent, and investment opportunity is high along the planned MARTA expansion routes.

Clifton Corridor

Already a destination in and of itself, the Clifton Corridor calls home to the US Center for Disease Control, Dekalb Medical Center, Veterans Administration Hospital, Children’s Healthcare of Atlanta, and Emory University.

Investment opportunities present themselves by way of parcels with low prices per square foot opposite of a planned LRT station at Sage Hill Shopping Center on Briar Cliff Road.
The center of BeltLine Southwest at the intersection of Ralph David Abernathy Blvd SW and Cascade Avenue SW. The area boasts potential for industrial and commercial development. Latapult’s Sales Hotspot layer displays nearby pockets of frequent property sales.
The first planned stop along the Clifton Corridor is at the Cheshire Bridge. Using Latapult’s Travel Distance tool, we can tell that a number of properties with investment potential are within 15 walking minutes of the station, represented by the green points indicating parcels with a low value to square footage ratio.

BeltLine Northeast

The Beltline Northeast area comprises the northeast arc of the Atlanta’s Beltline. The BeltLine is a 22-mile loop of old rail lines that encompasses the urban core of the city, it consists of a system of trails that connect neighborhoods, greenspaces, as well as civic and cultural institutions. The Northeast Beltline links Atlanta’s Midtown, Virginia Highland, Ansley Park, and Morningside/Lenox Park. The line will be directly adjacent to a heavy retail presence of Ponce City Market, Midtown Place, Midtown Promenade, and Ansley Mall. Some of Atlanta’s biggest recreational amenities are along the Beltline Northeast corridor including Piedmont Park and the Atlanta Botanical Garden.

Using Latapult’s Sales Hotspot layer, we can observe areas along the planned LRT route where property sales have occurred at a rapid pace.

BeltLine Southwest

The BeltLine Southwest is an additional segment of Atlanta’s BeltLine that has been slated for the addition of LRT. It runs through the predominantly residential neighborhood of Atlanta’s West End and will connect multiple schools, neighborhoods, and parks.

Latapult’s Sales Data layer displays recent sales for residential and commercial properties with a graduated color scale indicating the value of the sales. This gives insight into the amount properties were most recently sold for, and gives developers insight into current market trends. Turning on the Residential Sales layer, we can see that the majority of homes have sold for under $400,000 near the proposed BeltLine Southwest.
The center of BeltLine Southwest at the intersection of Ralph David Abernathy Blvd SW and Cascade Avenue SW. The area boasts potential for industrial and commercial development. Latapult’s Sales Hotspot layer displays nearby pockets of frequent property sales.

The planned expansion of MARTA will provide more efficient and convenient transit options for Atlanta commuters. Developments that are easily accessible from the newly planned stations will be frequented by MARTA commuters, meaning that understanding and planning for an increased population of potential customers, residents, and clients will be key for business owners and developers.

Become familiar with the planned expansion of MARTA and the properties it will impact using Latapult’s Property Investment Application, explore the current environment for sales and investment opportunities alongside data layers such as parcel boundaries and value, public transit (proposed and existing). Afterwards, learn more about the full Latapult Regions Application that includes over thirty counties in the Atlanta Metropolitan Statistical Area (MSA). Begin your free, 30-day free trial with Latapult Regions today or contact us to setup a demo.

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Commercial Development Construction Economic Development Engineering Residential Development Site Selection