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Nov
29

Cousins Properties Brings New Optimisim to the Commerical Real Estate Market

By on Nov 29

Things are looking up for commercial real estate. According to an Atlanta Business Chronicle article, a new sense of optimism is back in the Atlanta commercial real estate market as

Cousins Properties, the second largest owner of Atlanta real estate, is looking to begin construction on Emory Point, a development next to Emory University that halted in 2008.

Cousins Properties CEO, Larry Gellerstedt, mentioned restarting the development at Emory Point in 2011 at a Nov. 9 conference call with analysts, and again at the International Council of Shopping Centers conference in Atlanta. Although the project will no longer carry with it condos or as much retail space,  the new construction could carry a $100 million price tag.

When completed, Emory Point will have as many as 450 apartments and about 80,000 square feet of retail. Originally, the project located along the Clifton Road strip in DeKalb County was going to have 286 apartments, 180 condos and 95,000 square feet of retail space.

To bring the project to completion, Cousins will partner with Gables Residential, the eighth largest apartment builder.

Although there has not been a lot of job growth in the metro-Atlanta area in the past year, the Emory Point project will benefit from the area’s 30,000 employees from organizations including the Centers for Disease Control and Prevention, Emory University and Children’s Healthcare of Atlanta.

For more information about the Emory Point project, visit the

Cousins Properties and the

Atlanta Business Chronicle websites.

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