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A daily look at the most significant and interesting stories affecting Atlanta. Written by Kristal Dixon and Thomas Wheatley.

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Restaurant group wants investigation into 2018 sinkhole at Piedmont Park

Be Our Guest Investments accuses Piedmont Park Conservancy of covering up the issue before anyone could determine the cause of the sinkhole.

News

The traditional Georgia accent is fading away

The speech pattern used by white English speakers "peaked" among people born around World War II

Georgia teacher fired for having book about gender identity in classroom

She is one of — if not the — first educator in Georgia to lose her job in relation to  a 2022 state law

Education

Remember when: A celebrated artist created Atlanta's most creative playground

The playground is striking for its simplicity and use of color.

City, suburbs or country: Where to buy in Atlanta

2023 is a tough year to be a buyer, but you might get more bang for your buck in the city proper

Real Estate

You might find slightly better real estate deals inside the perimeter compared to way down in Upson County.What&#x27;s happening: Home prices in rural Georgia increased by 70% from March 2019 to September 2023. Meanwhile, they increased by 67% in the suburbs.<ul><li>The city of Atlanta, which has seen red-hot growth over the past decade and now has a <a class="gtmContentClick" data-vars-link-text="median sale price" data-vars-click-url="https://www.redfin.com/city/30756/GA/Atlanta/housing-market" data-vars-content-id="b7784811-35d7-4d11-b30d-d470bed9c550" data-vars-headline="City, suburbs or country: Where to buy in Atlanta" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.redfin.com/city/30756/GA/Atlanta/housing-market" target="_blank">median sale price</a> of $417,000, saw the smallest increase by comparison: 61%.</li></ul>

Homebuilding surges in Atlanta

74 new homebuilding permits per 100,000 residents were issued in Atlanta in May 2023.

Here&#x27;s some news that won&#x27;t come as a shock to anyone: Atlanta is experiencing a spike in new residential construction.Driving the news: ​​74 new homebuilding permits per 100,000 residents were issued in Atlanta in May 2023, up considerably from 32.7 in May 2020 — the early months of the COVID-19 pandemic.<ul><li>Of the 4,461 total permits, 2,391 were issued for single-family homes, 54 for buildings with 2-4 units, and 2,016 for those with five or more units.</li><li>That&#x27;s according to a new analysis of U.S. Census Bureau data from Axios&#x27; Kavya Beheraj and Alex Fitzpatrick.</li></ul>The big picture: Nationwide,<a class="gtmContentClick" data-vars-link-text=" 42.3 new homebuilding permits" data-vars-click-url="https://www.axios.com/2023/07/07/homebuilding-hot-spots" data-vars-content-id="ea593042-2965-41e5-b7b1-bb431bb34ac7" data-vars-headline="Homebuilding surges in Atlanta" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2023/07/07/homebuilding-hot-spots" target="_self"> 42.3 new homebuilding permits</a> per 100,000 residents were issued in May 2023, up from 32.9 in May 2020.<ul><li>In May 2023, 139,600 total permits were issued across the U.S. — the majority of which (88,900) were for single-family homes.</li><li>Nearly 46,000 were issued for buildings with five or more units, and nearly 5,000 for those with between two and four units.</li></ul>Why it matters: A post-pandemic nationwide housing shortage is keeping prices high.<ul><li>Recent estimates from<a class="gtmContentClick" data-vars-link-text=" Freddie Mac" data-vars-click-url="https://www.freddiemac.com/research/insight/20210507-housing-supply" data-vars-content-id="ea593042-2965-41e5-b7b1-bb431bb34ac7" data-vars-headline="Homebuilding surges in Atlanta" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.freddiemac.com/research/insight/20210507-housing-supply" target="_blank"> Freddie Mac</a> indicate the U.S. is short about 3.8 million units of housing, either for rent or purchase, Axios&#x27; Emily Peck<a class="gtmContentClick" data-vars-link-text=" reports" data-vars-click-url="https://www.axios.com/2023/06/20/housing-shortage-prices-high" data-vars-content-id="ea593042-2965-41e5-b7b1-bb431bb34ac7" data-vars-headline="Homebuilding surges in Atlanta" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2023/06/20/housing-shortage-prices-high" target="_self"> reports</a>.</li><li>A bump in new home construction could bring prices down — it&#x27;s basic supply and demand.</li></ul>Zoom in: Some cities are seeing an especially significant explosion in new home construction as a post-pandemic reality takes hold.<ul><li>In Raleigh, for example, 138 new permits per 100,000 residents were issued in May 2023, up from 71.7 in May 2020.</li></ul>State of play: While many newly built homes have been targeted at (and thus priced for) relatively wealthier buyers, homebuilders are starting to focus on more affordable projects for<a class="gtmContentClick" data-vars-link-text=" first-time homebuyers" data-vars-click-url="https://www.axios.com/2023/04/27/mortgage-rates-first-time-homebuyers" data-vars-content-id="ea593042-2965-41e5-b7b1-bb431bb34ac7" data-vars-headline="Homebuilding surges in Atlanta" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2023/04/27/mortgage-rates-first-time-homebuyers" target="_self"> first-time homebuyers</a>, Axios&#x27; Matt Phillips reports.What they&#x27;re saying: &quot;It&#x27;s a renewed focus, given the lack of inventory,&quot; Robert Dietz, chief economist at the National Association of Home Builders, told Axios.<ul><li>&quot;First-time buyers are going to play a key role in the order expansion for homebuilders going forward,&quot; Deitz said.</li></ul>Go deeper: <a class="gtmContentClick" data-vars-link-text="&quot;Golden handcuffs&quot; pinch metro Atlanta&#x27;s housing market" data-vars-click-url="https://www.axios.com/local/atlanta/2023/07/21/atlanta-mortgage-rates-golden-handcuffs" data-vars-content-id="ea593042-2965-41e5-b7b1-bb431bb34ac7" data-vars-headline="Homebuilding surges in Atlanta" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/atlanta/2023/07/21/atlanta-mortgage-rates-golden-handcuffs" target="_self">&quot;Golden handcuffs&quot; pinch metro Atlanta&#x27;s housing market</a>

"Golden handcuffs" pinch metro Atlanta's housing market

Homeowners might have a great rate now, but likely can't move without spending a lot more cash, a Redfin economist says

Nearly 60% of homeowners with mortgages in Georgia have a rate below 4%, per Redfin data shared with Axios.<ul><li>That&#x27;s locking homeowners in place and leaving buyers with few homes to choose from.</li></ul>

It takes Georgians nearly 10 years to save for a home

The U.S. average is 8.9 years, with states like Iowa being as low as 5.2 years and Hawaii as high as 18.4.

It&#x27;ll take Georgians 9.4 years to save up for a 10% down payment on the typical home, <a class="gtmContentClick" data-vars-link-text="Zillow data shows" data-vars-click-url="https://www.zillow.com/research/understanding-affordability-32538/" data-vars-content-id="a6ec7977-a222-4fef-b6a2-02812590d39b" data-vars-headline="It takes Georgians nearly 10 years to save for a home" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.zillow.com/research/understanding-affordability-32538/" target="_blank">Zillow data shows</a>. <ul><li>That would require saving 5% of the median household income every month. Homebuyers would need to save 10% of the median household income to generate a 20% down payment in the same amount of time.</li></ul>Why it matters: Affordability could be a &quot;major driver of <a class="gtmContentClick" data-vars-link-text="cross-country moves" data-vars-click-url="https://www.zillow.com/research/understanding-affordability-32538/" data-vars-content-id="a6ec7977-a222-4fef-b6a2-02812590d39b" data-vars-headline="It takes Georgians nearly 10 years to save for a home" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.zillow.com/research/understanding-affordability-32538/" target="_blank">cross-country moves</a>&quot; as buyers seek a lifestyle within their means, Zillow economists say.

Fanplex's next chapter could be affordable housing

The authority overseeing the short-lived and publicly funded entertainment center says the property could accommodate up to 308 units

Fanplex, the publicly funded family fun zone that quickly became a money pit, finally has a long-term plan: more than 300 affordable housing units to serve the fast-gentrifying community.Why it matters: Opportunities for affordable housing are rare in Summerhill, where the average home value is $467,000, <a class="gtmContentClick" data-vars-link-text="per Zillow" data-vars-click-url="https://www.zillow.com/home-values/269439/summerhill-atlanta-ga/" data-vars-content-id="b8229189-9cc0-420a-b08a-5b1b02b00adc" data-vars-headline="Fanplex&#x27;s next chapter could be affordable housing" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.zillow.com/home-values/269439/summerhill-atlanta-ga/" target="_blank">per Zillow</a>.<ul><li>Aside from hosting the occasional community event or voters on Election Day, the short-lived Fanplex building has mostly sat empty since closing in early 2004.</li></ul>

A photo of an empty and unused entertainment center with a yellow awning that says fun

New rendering: Portman plots next Beltline project

The developer is planning a mixed-use development on 1.3 acres along Irwin and Sampson streets.

Development

A developer&#x27;s conquest of the Atlanta Beltline&#x27;s Eastside Trail is roaring ahead with the purchase of three parcels along the popular path near Krog Street Market.Details: Portman Holdings&#x27; planned mixed-use project — the second phase of its Junction Krog development that&#x27;s currently under construction across the street — calls for retail and offices on 1.3 acres along Irwin and Sampson streets, <a class="gtmContentClick" data-vars-link-text="the AJC reports" data-vars-click-url="https://www.ajc.com/news/portman-buys-land-to-expand-junction-krog-project-along-beltline/OX66N5XQAZBBBF7J65M7Y2W5LU/" data-vars-content-id="20ddab2c-f3ff-432e-bb6e-7933a15d8d43" data-vars-headline="New rendering: Portman plots next Beltline project" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.ajc.com/news/portman-buys-land-to-expand-junction-krog-project-along-beltline/OX66N5XQAZBBBF7J65M7Y2W5LU/" target="_blank">the AJC reports</a>.

An aerial rendering of a proposed mixed-use project along the Beltline with a green roof

How to solve metro Atlanta's housing puzzle

The Atlanta Fed's Raphael Bostic and City Hall housing advisor Joshua Humphries talk fixes.

Business

Finding an affordable place to live can feel like a second job for many metro Atlantans, particularly those living on low incomes.<ul><li>Solving that problem requires a building bonanza, fair and decent wages and community support, two experts told Axios.</li></ul>Driving the news: On Thursday, Axios hosted a virtual discussion with Raphael Bostic, the president and CEO of the Federal Reserve Bank of Atlanta, and Joshua Humphries, the housing policy advisor for Mayor Andre Dickens to discuss what&#x27;s working to increase affordable housing in metro Atlanta.

Illustration of a welcome mat that is a one-hundred dollar bill.

Opponents fight proposed golf course on Gullah Geechee land

Preservationists and local residents are fighting a proposal to build a golf course and gated community on St. Helena Island.

Residents and preservationists are rallying against a proposal to construct a gated community and golf course near a historic institution, fearing that the development will threaten the survival of Gullah Geechee culture along the coast.Driving the news: Elvio Tropeano, the developer and property owner, wants to build the project on 502 acres on St. Helena Island — an island in Beaufort County, South Carolina, near the Georgia border home to significant Gullah Geechee and civil rights history.

A sign protesting a proposal to build a golf course and gated community on St. Helena Island in Beaufort, South Carolina.

New rendering: Downtown Decatur's next chapter

Downtown's first plan since early 1980s calls for open spaces and pedestrian areas.

Downtown Decatur, it&#x27;s time to grow up. Driving the news: On Tuesday, the Decatur City Commission gave its blessing to a plan to give the suburb&#x27;s popular and growing downtown a boost.Why it matters: Decatur hasn&#x27;t updated its downtown plan since 1982. <ul><li>It&#x27;s time. </li></ul>

A rendering of an old Kroger site that's been redeveloped into a mixed-use district with mid-rise buildings, open space and patios

How much rental space $1,500 will get you in Atlanta

One square foot of rental space in Atlanta is almost double the cost of a square foot in Columbus.

One square foot of rental space in Atlanta is almost double the cost of a square foot in Columbus. Driving the news: A <a class="gtmContentClick" data-vars-link-text="monthly rent of $1,500" data-vars-click-url="https://www.rentcafe.com/blog/rental-market/market-snapshots/rental-space-for-1500/" data-vars-content-id="86d0a187-e07c-4d3b-9a4a-e668ec550762" data-vars-headline="How much rental space $1,500 will get you in Atlanta" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.rentcafe.com/blog/rental-market/market-snapshots/rental-space-for-1500/" target="_blank">monthly rent of $1,500</a> can get you a 788-square-foot apartment in Atlanta, slightly larger than the national average of 782 square feet, according to a new report from listing service RentCafe.

Real Estate 🏠