a market conditions and project evaluation summary of - Georgia ...
a market conditions and project evaluation summary of - Georgia ...
a market conditions and project evaluation summary of - Georgia ...
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Allen Wilson Phase III, Decatur, GA; Market Study<br />
also located within 0.6 miles <strong>of</strong> Renfro Middle School <strong>and</strong><br />
is located adjacent to Decatur High School. Allen Wilson<br />
Phase I <strong>and</strong> II are located immediately south <strong>of</strong> the site.<br />
Allen Wilson Phase I opened in March 2011 <strong>and</strong> is 100<br />
percent occupied. The development is in excellent<br />
condition. Allen Wilson II is currently under construction<br />
<strong>and</strong> is expected to be completed in September 2012. Upon<br />
completion, the development will be in excellent condition.<br />
Single family homes in the immediate neighborhood range<br />
from average to excellent condition. Although railroad<br />
tracks are located approximately 0.2 miles south <strong>of</strong> the site,<br />
these tracks are not visible from the site <strong>and</strong> Phase I <strong>of</strong> the<br />
Subject’s redevelopment is 100 percent occupied.<br />
Therefore, these tracks do not appear to be a detrimental<br />
influence <strong>and</strong> we do not believe they will be a detrimental<br />
influence following demolition <strong>and</strong> construction <strong>of</strong> the<br />
Subject. Further, there is development between the Subject<br />
<strong>and</strong> the railroad tracks. Overall, the Subject has excellent<br />
access to public transportation, retail, schools, <strong>and</strong> other<br />
locational amenities. Bus stops line West Trinity Place <strong>and</strong><br />
Commerce Drive. The site is considered an excellent<br />
location. The Subject will fit well with the surrounding<br />
uses.<br />
Positive/Negative Attributes <strong>of</strong> Site: Positive attributes <strong>of</strong> the site include the walkable nature <strong>of</strong><br />
the neighborhood as the site is in close proximity to<br />
schools, restaurants, retail, a park, <strong>and</strong> public<br />
transportation. There are no significant negative attributes<br />
to the site.<br />
3. Physical Proximity to<br />
Locational Amenities: The Subject is well situated near all necessary amenities<br />
including roads, transportation, amenities, employment,<br />
<strong>and</strong> community services. The site is 0.4 miles from<br />
downtown Decatur, which is one <strong>of</strong> the major employment<br />
centers. Many tenants also commute to downtown Atlanta<br />
for employment, which is 7.2 miles southwest. The Subject<br />
is situated along Commerce Drive, with easy access to<br />
Ponce de Leon Avenue, I-20, <strong>and</strong> I-285. There is also a<br />
YMCA located 1.3 miles from the Subject, as well as a<br />
MARTA rail station less than one mile from the Subject.<br />
Novogradac & Company LLP 15
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