“The Bluff”

….We’re not in Kansas anymore….

At least, that’s what you would think after reading Wiki:

“The Bluff is a district within the area that is infamous throughout metro Atlanta for the availability of drugs, heroin in particular.

The borders of The Bluff are defined differently by different sources. For example the Atlanta Journal-Constitution and Creative Loafing both defined The Bluff as including all of English Avenue and Vine City. However, a more recent and in-depth December 2011 series of reports by 11 Alive TV news, referred to The Bluff as a “section of English Avenue”. The English Avenue/Vine City area has some of the highest poverty and crime rates in the city, with the Carter St. area surrounding the Vine City MARTA station ranking in 2010 as the #1 most dangerous neighborhood in Atlanta and #5 in the United States.”

Who would want to LIVE here?

… Apparently, MANY. Not only the long time residence fighting for the redevelopment of this area, but also the many investors who dropped a boat load of money in the area trying to flip houses across from the Georgia Dome and Georgia World Congress Center…..There HAD to be some special plans for this area at once-something special.  Who would spend this amount of money developing such a beautiful building knowing it’s patrons would have to tip-toe from Marta across the street, past the drug house, robbers and pan handlers?

I’m not saying its not lacking their share of revitalization, nor is it crimeless- and yes, it could be dangerous if you are walking down the street at 1am texting on an IPhone, carrying a laptop bag and sporting an “I LOVE NY” T-Shirt- yes, you could be calling for some trouble. HOWEVER, as a person 5’1 (barely) and 110lbs- I have never feared kicking in a vacant house to take a home tour.

But why the bad rap? Where did it come from? What’s the history of this community?

“What is now the English Avenue neighborhood was purchased in 1891 by James W. English, Jr., son of Atlanta mayor James W. English. It was developed as a white working-class neighborhood. Simpson Road was long a residential race barrier with whites to the north and blacks to the south.Today’s English Avenue was known at different times as Bellwoodand as Western Heights (I like this name!) . In 1910 the Western Heights school (later renamed Kingbery after a principal of the school, then renamed English Avenue Elementary School) was built at the northeast corner of English Ave. and Pelham St

The area south of Simpson Road — today’s Vine City — was settled at the end of the 1800s by large land owners, and a predominantly African-American residential area was established, though there were also white subdivisions, schools, and churches. A mix of social classes were present. In 1910 Alonzo F. Herndon, founder of the Atlanta Life Insurance Company, built his home at 587 University Place, now listed on the National Register and open to visitors

During the mid-20th century, the area was a middle-class African-American neighborhood.Commercial areas included English Avenue; Simpson Street/Road, in its heyday in the 1950s and 1960s; and Bankhead Highway, which was part of the US Highway system, and was in its splendor in the 1960s. Dr. Martin Luther King Jr. moved to the area in 1967, and his widow Coretta Scott King continued to live here until her death.

Suburbanization started draining the area’s vitality starting in the 1970s.Over the following decades, it attracted buyers and sellers of heroin, and deteriorated into a corner of poverty in the city, characterized by large numbers of abandoned, boarded-up houses.”

Will Wal-Mart aid in the revitalization of this community? I don’t think Wal-Mart had a clue about the possibilities and  impact their opening could make. They may have only viewed their bottom line and were offered  benefits to open here. But if they cared, Wal-Mart can be the a major player in the redevelopment of this area now dubbed a “food desert” .

Here’s a history of the revitalization efforts:

“In 1999, the Atlanta Housing Authority first announced plans for the “Historic Westside Village”, a $130 million commercial, residential and retail project at the area’s southern end near Martin Luther King, Jr. Dr. at Ashby St. A Publix supermarket opened in May 2002but the overall project stalled by 2003 as further anchor tenants did not materialize. This, along with disappointing sales, caused the Publix – the only full-sized supermarket for miles around – to close in December 2009.Creative Loafing called the project the most notorious “municipal boondoggle…to have tarred Atlanta” during mayor Bill Campbell‘s era; the project “fell victim to…cronyism, bureaucratic incompetence and a flagrant disregard for federal lending guidelines”.In December 2010 things looked up as the Atlanta Development Authority announced plans for Wal-Mart to open a store on the site.”

Yikes. Now putting all that aside, I know you did NOT come here for a history lesson. However, I believe it’s imperative to know the history and direction of the community you plan to invest.  Understanding this could help your decision.  When you purchase, you invest more than money- you invest a part of you.

What’s left to buy in The Bluff?

Right now, as an investor I’d buy a few to hold (of course rent them, because vacant homes do nothing for communities).

IF you can find any. Many of these homes have already been hit by the bust- and have been resold as REO’s/ Foreclosures between the years 2007-2011.. it’s pretty quiet now with new listings- but that does not mean these homes are occupied and not available.  I have found a few come up- off line – or off the MLS grid as investors trade packages or “owner finance” homes directly on Craigs List and other By Owner sites. Keep an eye out- some investors may be ready to dump since the revitalization is not happening as rapidly as they need and can no longer afford to hold. Other circumstances, such as the new vacancy registry and a code enforcement crack down (after the urging of the community) are forcing these MIA investors to pay upon registration or repair and rent their homes. I also know a few investors with portfolios that maybe ready to release.

The bottom line- there are still deals in this area.

FMLS# 5075795, 486 Paines Avenue SW  is sitting pretty at $25K

P.S. Have you seen the movie “Snow  on tha Bluff”?? I tried but my ears are sensitive LOL.. too much “realness” for me..

Seeking a Builder/Investor for Camp Creek Subs..

Great opportunity for a builder and or investor to complete a subdivision in prime locations within Camp Creek!  These subs are ready for your vision- plats in place, utilities and site map- take a look at the site plans below. Let’s discuss the possibilities!

http://targetmarkmedia.com/mylestone/index.html

http://targetmarkmedia.com/thefallsatcampcreek/siteplan.html

**An Opportunity to be the first GREEN development!!

Profit on the Beltline!!

Smart investment deal- live rent free on this 5 unit home in Historic West End! This home boasts hardwoods,  original fireplace, character and charm- renovated and has tenant’s!! The seller must be crazy! I personally would not part with this one, the potential, location and overall size makes it a great deal…you can even turn it into a single family for those with large families.  Call me for a tour today: 404-414-3289

multi-holderness

A long week in the End…

Thanks to John Pavlin, the VP of West End Neighborhood Development , for  coming up with a great social idea for the neighborhood;  “W.E.N.D.esdays” ….   Now, Historic West End will have walking tours weekly on Wednesday evenings at 6PM. Meeting at the Grounds Coffee Shop under the Skyloft (898 Oak Street) , behind CVS on RDA.  This week the first gathering had a very good turn out.  W.E.N.D is inviting all to tour the neighborhood and enjoy the good weather!

In addition to the WEND cleanup, Friends of West End Parkheld a cleanup today, thanks to Yomara Velez and the FRIENDS (Ryan, Stephanie, Beth, Mary, Joel, Carlton, Reggie,Gretchen, Ayana -Park Pride and the many others) for organizing and making the Oak Street,Lucile, Dargan,Lawton Park- my favorite!!  Awesome paint job and clean up guys.

Lastly, thanks to my bestest- Jerilyn Lewis( the best investor REALTOR in the ATL- 404-771-7956) for your help with my flower bed. I didn’t realize it needed THAT much work- nor did I realize that gardening is THAT much work.. lol.. now, ode to you- it should be  ‘Easy street’ for me..

 

 

Rental Market Feels Pinch From Joblessness

Apartment vacancies are rising nationwide, driven by job losses.

 Housing experts expect the multifamily vacancy rates will soon be at 8 percent nationwide, higher in some areas.

 “Apartment vacancies in the fourth quarter went from around 6 percent to 6.7 percent so it was a very quick reaction,” says Hessam Nadji, managing director of research for real estate brokerage Marcus & Millichap.

 Top-of-the-line properties are having the greatest difficulty finding tenants, while Class B and C buildings are holding up better.

 “People are dialing down their residential expenses,” says Richard Anderson, BMO Capital Markets analyst.

 The downturn is pushing down sales prices for apartment buildings, and construction was off 35 percent in 2008. Marcus & Millichap predicts it will decline another 40 percent to 50 percent in 2009.

In the long run, though, this could be good news for landlords. “If you fast-forward to 2011 and 2012, you will see very little new supply and favorable renter demographics in the number of 18- to-34-year-olds,” Nadji says.

 Source: Investor’s Business Daily, Marilyn Alva 02/05/09

1488 Avon Ave- 70K!!!

Great starter home for one ready to roll up his/her sleeves!  Huge lot, new heating system easy access to public transportation- SIDE WALKS 🙂 . Make your best & highest- you could be in your  new home by Valentines Day!

http://www.postlets.com/res/1608670

Search: AVON for additional photos