The People Deserve to Own Atlanta
Atlanta is one of the nation’s fastest-growing cities. What would it mean for you to own a piece of it?
August 26, 2021
A historically significant city with a modern flair, Atlanta has been growing like crazy for more than a decade.
What would it mean to own a piece of such an iconic city?
Let’s take a look.
The ATL Boom
Several major players and macro trends have led Atlanta to expand so dramatically in the 21st century.
The region boasts a large and diversified base of employers, with medical services and public health representing the biggest sector in the whole state of Georgia. Even before the pandemic, major backers of Atlanta’s health and medical sector had plans to make the city a global capital for healthcare innovation. It’s no wonder employment in the industry grew 25% from June 2020 to June 2021.
Beyond healthcare, Atlanta is home to massive Fortune 500 companies like The Home Depot, UPS, Coca-Cola, and Delta Air Lines. These companies alone made up 10% of the city’s jobs in 2019.
If it seems like everyone you know has at least passed through Atlanta once, it’s probably because they have. The Hartsfield-Jackson International Airport is one of the world’s busiest airports, an economic engine that gives tens of millions of people a glimpse of the city every year.
Meanwhile, technology and pop culture influences are adding an exciting burst of energy to ATL. Culturally, Atlanta has come to be known as the “Hollywood of the South,” competing with Los Angeles for the most films shot in the city each year.
And, it remains affordable compared to most major metro areas.
For all these reasons, it’s easy to see why we named Atlanta among our 7 cities to watch for multifamily commercial real estate investing. The growth that the city has been experiencing, combined with its cultural significance, makes owning a piece of Atlanta seem like an excellent investment.
The problem is that not everyone has been able to participate in Atlanta’s boom.
Despite being one of the country’s fastest-growing cities, what actually constitutes the city of Atlanta has become increasingly ambiguous. Since 2005, there has been an ongoing movement to municipalize many of the capital’s neighboring areas—Dunwoody, Sandy Springs, and Stonecrest are just some of the many neighborhoods that have opted to be considered their own cities separate from Atlanta.
Many of these efforts to secede from ATL have spurred devastating consequences for the poor, largely Black communities who were not incorporated into these new cities. As Sam Rosen writes for The Atlantic, “The withdrawals of wealthy enclaves have left county governments with a recurring and unpleasant choice: raise taxes or provide less.” Black communities across Atlanta have seen a severe lack of upward economic mobility as a result of the city’s shifting boundaries.
There is a deep-rooted history of segregation in the city of Atlanta that has kept its Black residents from experiencing ownership to the same extent as their white neighbors. It’s always been nearly impossible to participate in commercial real estate investment in the U.S. unless you are already wealthy. In Atlanta, ownership carries even more meaning.
Fortunately, despite the dynamic growth of multifamily commercial real estate in Atlanta, the ship has not sailed. There is still ample opportunity to own a piece of this ever-changing city.
This is important because ownership has a particular significance in Atlanta; there is an amazing pride that residents have for the city despite the historic imbalances of ownership in underserved communities.
Own a Piece of Atlanta
Owning and investing in Atlanta means being more than just a bystander to change. It means not only watching as development shapes the community around you but also participating in the financial upside of that development.
We believe that investing in our communities should be available to everyone. Regardless of economic status, everyone should be able to own the spaces that define fast-growing communities like Atlanta.
That's why we're leading the way to bring ownership to multifamily commercial real estate.
We need a way to participate in the upside of Atlanta and so many other attractive locations with multifamily projects that enhance our communities. And ownership through Rhove is the ultimate vehicle to do so.
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