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Atlanta Business Chronicle
'Paralysis by analysis': DeKalb official pushes to expand MARTA
An elected official is pressing for a solution to fund transit expansion in DeKalb County, an endeavor constrained by the steep cost to build new lines.<\p> DeKalb County Commissioner Ted Terry introduced a resolution urging MARTA to explore financing mechanisms beyond a sales-tax hike to achieve the county’s transit ambitions laid out in a 2019 master plan.<\p>
The best and worst industries for finding a job right now
Workers in the market for a new job are finding quick success if they're targeting a select few industries — and, perhaps surprisingly, if they're hunting without the aid of artificial intelligence.<\p> A new survey from Resume Builder of workers hired into new jobs within the last six months paints a picture of workers in food and hospitality, retail, and construction being been able to find jobs quickly. Prospective employees in business and finance, education, and software are having a harder time landing a new job.<\p>
Neighbors reject Portman redevelopment in NPU vote
Hundreds of Virginia-Highland and Morningside residents flooded into a Wednesday meeting to rebuke the dense makeover pitched for Amsterdam Walk.<\p> In a 282-84 vote, Neighborhood Planning Unit F recommended denying the zoning and land-use changes requested by Portman Holdings to turn the eclectic shopping center into a mixed-use hub along a future section of the Atlanta BeltLine’s Northeast Trail.<\p>
Electrical systems supplier expands Georgia footprint
EAE USA, the U.S. arm of a Turkish electrical systems giant, is expanding its Southeast logistics network with a nearly 200,000-square-foot facility in northwest Georgia.<\p> EAE USA will lease about half of a project called 41 Logistics Center in Adairsville. It is the second regional distribution center that EAE USA has opened here in less than a year, as the company makes Georgia a hub for its expansion. <\p>
Athens student housing developer goes global
A local leader in off-campus student housing development is going global.<\p> Athens-based Landmark Properties announced it is expanding internationally, with plans to enter student rental markets in Ireland and the United Kingdom.<\p>
Former Atlanta Habitat CEO takes new job at Atlanta Housing
The former CEO of Atlanta Habitat for Humanity will lead a new department at Atlanta Housing.<\p> Alan Ferguson will become Atlanta Housing's chief housing and real estate officer effective June 3, the agency announced. Atlanta Habitat announced Ferguson's departure on May 15.<\p>
New Woodruff board features prominent Atlantans
At its annual spring meeting, The Woodruff Arts Center announced it named 15 new members to its board of trustees. The group reaches deep into Atlanta’s business, nonprofit, entertainment and education sectors. <\p> “This group provides tremendous value to our organization, and I’m honored to work alongside such solid leaders,” said Hala Moddelmog, president and CEO of The Woodruff Arts Center, in a statement. <\p>
AI's latest casualty? Entry-level jobs
Welcome to The National Observer, a roundup of top business news and actionable insights from across The Business Journals. We'll take a look today at how artificial intelligence is taking roles that used to act as entry-level positions; Frontier Airline's strategy targeting business travelers; and how you can buy everything in a Red Lobster restaurant. But we'll start with what higher-for-longer rates mean for those in the real estate business.<\p> Get more stories like these every day in your inbox by subscribing to The National Observer newsletter.<\p>
Report: This metro Atlanta city is the capital of office conversions
You might expect big cities like New York or San Francisco to lead the nation in turning obsolete office buildings into new apartments.<\p> Both have office districts that saw an exodus of tenants during the pandemic, and many have not returned.<\p>
Global construction firm hires Atlanta executive
Global construction and development company Skanska hired a president who will work out of its Atlanta office.<\p> Skanska promoted Clay Haden to business unit president for Skanska USA Building effective June 1, the company announced. Haden will succeed Paul Hewins, who announced his intention to retire. <\p>
Affordable for-sale housing lands in south Fulton County
A small community of affordable townhomes has landed in southwest Atlanta. <\p> Local workforce housing developer 3384 Residential recently wrapped construction on Campbell Ten Townhomes, a 10-unit development about 15 minutes south of Downtown. <\p>
GSU hires communications veteran as interim VP
Georgia State University hired Jo Ann Herold as interim vice president of public relations and marketing communications as of May 15, the school announced.<\p> Herold steps in for Andrea Jones, who previously announced she would leave Georgia State to become vice president for marketing and communications at the University of North Florida.<\p>
How nonprofits are attracting donors in 'harder' environment
Spring fundraising is in full bloom. Atlanta-area nonprofit groups are hosting a variety of events to entice potential donors to give. <\p> For the most part, organizations are meeting their goals, and many are raising more than they expected. <\p>
Major Atlanta law firm hires public affairs leader
One of Atlanta's largest law firms has a new public affairs leader.<\p> Denton's hired Stephen Lawson to lead the firm's public affairs efforts in its public policy practice. Lawson will be based in Dentons' Atlanta office, the firm announced.<\p>
Shopping center sale illustrates strong retail market
The sale of a Douglasville shopping center illustrates a strong market for retail real estate, according to the brokers who facilitated the deal.<\p> An affiliate of Ohio-based real estate investor Site Centers sold Market Square in Douglasville to an affiliate of Atlanta-based First Colony Financial Corp. Bryan Belk and John Tennant of Franklin Street represented the seller in the transaction.<\p>
Elevated interest rates force re-pricing of billions in CRE debt
Just shy of $20 billion in commercial mortgage-backed securities debt backing U.S. office properties is set to mature in the next year, occurring at a time that's now also expected to feature a higher-for-longer interest-rate environment. <\p> Moody's Analytics Inc. found that as of April, $19.9 billion in office CMBS loans will mature by next spring. That's a marked increase over the $8.75 billion in office CMBS debt that matured in 2023. <\p>
How higher interest rates are weighing on Home Depot's sales
Home Depot executives say elevated interest rates are still weighing on the company's sales.<\p> The Atlanta-based home improvement giant (NYSE: HD) saw sales during the first three months of the year decline 2.3% compared with the same period in 2023. Same-store sales in the United States were down 3.2% year over year. Transactions over $1,000 were down 6.5%.<\p>
Georgia contractor expands offices into Savannah, Nashville
A Gainesville, Georgia-based construction company is expanding into two of the hottest markets in the Southeast for major projects.<\p> Carroll Daniel Construction Co. will open offices in Savannah and Nashville, Tennessee. Both new offices will focus on private and public projects, the company said. <\p>
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