"Building condos right now is next to impossible; it really is," said Stephen Franco, a partner at Franco DeFoor Properties, an Atlanta real estate development company. "It's just financing. You can't get financing for condos."
High-end apartment complexes are in the works across the metro area, from trendy intown Atlanta neighborhoods to more suburban locales. Franco DeFoor is planning to build 250 to 300 upscale apartments on Memorial Drive in southeastern Atlanta's Reynoldstown neighborhood, not far from a cluster of condo complexes.
"The new darling child of multifamily residential is rental," Franco said.
Wednesday, June 11, 2008
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