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Atlanta Business Chronicle
Athens family takes over Highlands, N.C. hospitality empire
An Athens family has acquired a hospitality empire in Highlands, North Carolina, a popular mountain getaway for Atlanta professionals. <\p> James and Jessica Whitley have purchased the Old Edwards Hospitality Group, a collection of upscale hotels, golf courses and restaurants. Terms of the deal were not disclosed. It closed June 14. <\p>
Atlanta official seeks ketamine, psilocybin coverage for city workers
Liliana Bakhtiari turned to ketamine therapy to manage her symptoms of complex post-traumatic stress disorder.<\p> Ketamine is known for its dissociative and hallucinogenic properties, leading some to use it illicitly. But, when administered under medical supervision, the anesthetic can be an effective treatment for medication-resistant cases of depression, anxiety and other mental health conditions.<\p>
Atlanta apartments getting smaller, counter to current U.S. trend
Atlanta is known for spreading out, but recently more residents in this longtime poster child of sprawl are packing in to tighter living spaces.<\p> Atlanta apartment units built in the past decade averaged 904 square feet, or about 61 square feet less — roughly 7% smaller — than they were in prior years, according to an analysis by RentCafe, a rental listing site.<\p>
Atlanta firm pays $37M for Midtown student housing property
A 330-bed student housing property in Midtown has a new owner.<\p> Atlanta development and investment firm Pope & Land Real Estate has acquired 100 Midtown for $37.2 million, according to property records. The 118-unit project is on 10th Street near Georgia Tech. The deal closed May 23. <\p>
New industrial park comes to Henry County
A nearly 1 million-square-foot industrial park is coming to Locust Grove, about 40 miles south of Downtown Atlanta. <\p> The project is a joint venture by Stonemont Financial Group, a private real estate firm, and Compatriot Capital Inc. It broke ground earlier this week, according to a news release. <\p>
Most Americans still struggle to get away from work while on vacation
Most Americans struggle to get away from work while on vacation, even as some progress is being seen in restoring work-life balance.<\p> About 59% of the 2,000 Americans surveyed by communications firm Movchan Agency said they struggled to switch off during their downtime and 63% said they felt anxious if they didn’t check work emails while away. Overall, 54% said they worked while on vacation, although that's a lower share than previous years. <\p>
Atlanta firm names three new C-Suite execs
A national firm that acquires and develops multifamily residential properties has a new leadership team. <\p> Atlanta-based Vista Residential Partners has promoted three company leaders to C-Suite positions following the stepping down of the company’s CEO, Eduardo de Guardiola. <\p>
The Playbook: The common pay threads for high-performing companies
Editor's Note: Welcome to The Playbook Edition, a look at stories, trends and changes that could affect your business and career. Want more stories like this in your inbox? Sign up for The Playbook newsletter. <\p> During a time when more workers expect transparency around pay, most top-performing companies are proving to be forthcoming — but that's not the only common thread. <\p>
'Sad, angry' Dickens lays out crime plan
Atlanta Mayor Andre Dickens aims to avert a summertime surge in violent crime, which tends to peak across the U.S. during the warmest season of the year.<\p> The mayor provided a glimpse into his administration's strategy to bolster public safety, a day after a gunman opened fire in a Downtown food court and law enforcement went on a rush-hour chase to stop a hijacked commuter bus. Four people were injured in the Peachtree Center incident, and a wounded bus passenger died in the hospital.<\p>
NAR settlement threw a wrench into VA loans but a fix is coming
The class-action lawsuits that rocked the residential real estate industry over the past year have resulted in nearly $1 billion in settlements so far — and also put in place changes that could have hurt veterans’ ability to shop for homes.<\p> The National Association of Realtors and big brokers such as RE/MAX Holdings Inc., Anywhere Real Estate Inc. and Keller Williams Realty Inc. agreed to prohibit mandatory so-called “cooperation agreements,” in which sellers pay both the selling agent and the buyers agent commission for a sale, in exchange for being allowed to list a home on a multiple listing service.<\p>
Rental homes planned near booming Georgia coast
A build-to-rent housing development is in the works for a rapidly expanding community near Georgia’s coast.<\p> Atlanta-based real estate developers Novare Group and Batson-Cook Development Company plan to deliver a community of single-family rental homes in Port Wentworth.<\p>
Ex-Falcons star lists Buckhead mansion $8.5M (Photos)
Julio Jones, the former Falcons wide receiver who spent a decade racing up and down the field in Atlanta, is selling his Buckhead mansion.<\p> Jones is asking $8.5 million, according to a listing by Engel & Volkers Atlanta. Adrian Schmidt is the list agent.<\p>
This conference helps grow Atlanta's tech scene
When RenderATL first came about, software engineering conferences in Atlanta were relatively small, serving a thousand people at most, founder Justin Samuels told Atlanta Business Chronicle. <\p> For a software hub, this was an untapped well. <\p>
WeWork emerges from bankruptcy, appoints new CEO
After filing for bankruptcy protection in November, New York-based WeWork Inc. said Tuesday it has emerged from Chapter 11 and completed its operational and financial restructuring.<\p> The coworking giant's new era will include a new board of directors and a new chief executive. John Santora will become WeWork's new CEO, effective Wednesday. Santora joins WeWork from commercial real estate firm Cushman & Wakefield PLC (NYSE: CWK), where he most recently served as the firm’s Tri-State chairman.<\p>
Four shot at Peachtree Center, suspect in custody
Four people were shot Tuesday during a fight at a Downtown food court, including the shooter who was a convicted felon, police said.<\p> The shooting occurred just after 2 p.m. at Peachtree Center, disrupting business in the city's core. <\p>
More big office leases inked this year
Large office leases in metro Atlanta are returning to the highest levels since before the pandemic, according to new data from Cushman & Wakefield Inc. <\p> In the first half of 2024, five leases of at least 100,000 square feet have been signed, compared with just one that size at this time last year. The five leases average almost 150,500 square feet, equal to about six floors in a typical office tower.<\p>
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