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Downtown developer hires MARTA official
In preparation for the 2026 FIFA World Cup, Lalani Ventures is bringing on a chief investment officer to help out with its Downtown revitalization efforts.<\p> Jacob Vallo is joining the commercial real estate company after spending five and a half years with MARTA, according to a news release. The real estate veteran most recently oversaw transit-oriented development, public-private partnerships and more as the agency's assistant general manager of real estate development and asset management.<\p>
Gourmet market set for vacant Grant Park space
A long-vacant retail building at Grant Park could finally get a tenant. <\p> The City of Atlanta has selected gourmet market and wine shop Savi Provisions to lease the commercial space at the Grant Park Gateway. <\p>
Big deadlines loom for Realtors commission lawsuits
The class-action lawsuits that rocked the residential real estate industry over the last year are barreling toward a possible conclusion — and some big changes in the remainder of 2024. <\p> One of the most important deadlines is Aug. 17, 2024, when the NAR has said it would implement a series of changes as part of its own $418 million settlement agreement over buyer commissions. <\p>
Gen Z cites housing affordability as its top election issue
In the wake of rapid home-price appreciation during the Covid-19 pandemic, housing is playing a bigger role in how Americans vote — among one demographic in particular.<\p> Ninety-one percent of adult Gen Zers said in a recent Redfin Corp. (Nasdaq: RDFN) survey housing affordability is important when considering whom they will vote for in the presidential election this November. Among a list of nine broad political topics, the subject ranked No. 1 for that generation — ranking even higher than the strength of the overall economy, which was the top priority for millennials, Gen Xers and baby boomers. Housing affordability for Gen Z respondents also outranked issues of education, gun rights and abortion rights.<\p>
Metro Atlanta tech companies compete with out-of-state businesses
In a twist that Georgia's tech ecosystem couldn't have seen coming until the pandemic, Atlanta companies now have to compete with out-of-state rivals for talent like never before. <\p> "You have companies out of California, out of New York, where they can now attack and come after Atlanta candidates," Maurice Morgan, co-founder of Humans Doing, told Atlanta Business Chronicle. <\p>
Hundreds of new homes planned for Forsyth County
The fifth-largest public homebuilder in the nation has taken its first leap toward delivering a massive residential development project about 45 miles north of Atlanta.<\p> Arizona-based Meritage Homes closed on more than 200 acres in Forsyth County last week, with plans to develop a master-planned community featuring hundreds of homes adjacent to Georgia 400 South and Marsett Parkway. Meritage paid $12.9 million for the site, according to property records.<\p>
Sage launches program for Atlanta nonprofit leaders
For 35 years, 21st Century Leaders has connected companies with Georgia teens to prepare them for leadership roles and careers. <\p> Despite the work the group has done for more than three decades, it is still a “best-kept secret,” Kate Hewitt, executive director of 21st Century Leaders, told Atlanta Business Chronicle. <\p>
How an Atlanta nonprofit keeps raising record money
When Susan Been signed up to participate in a dance contest to support the Alzheimer’s Association Georgia Chapter, she had no idea how competitive it would be. <\p> "It is one of the most challenging things I've ever done," Been told Atlanta Business Chronicle. <\p>
Fintech company adds major transit agency
Atlanta-based fintech company Elavon Inc., a subsidiary of U.S. Bank, now offers contactless payment for card and mobile devices across the Southeastern Pennsylvania Transportation Authority.<\p> SEPTA is one of the 10 largest transit agencies in the United States. The agency has about 600,000 daily riders on trains and buses. <\p>
Is there a potential shortage of premium office space?
The chief investment officer for one of the Sunbelt’s largest office landlords says concerns are waning about demand for space in trophy buildings.<\p> Kennedy Hicks, managing director with Atlanta-based Cousins Properties Inc., sees companies that once put their office space on the market for sublease now taking it back for themselves. <\p>
She grew a small north Georgia hospital into a regional powerhouse
After more than 20 years of service, Carol Burrell announced her retirement as president and CEO from Northeast Georgia Health System in February 2024. ¶ <\p> Under her watch, NGHS has transformed from a molehill into a mammoth. <\p>
Luxury brokerage names first chief growth officer
An Atlanta luxury boutique brokerage has recruited a local leader in residential real estate to help spearhead its future expansion.<\p> Engel & Völkers Atlanta has appointed Atlanta Realtors Association executive Chris Burell to serve as the company’s first chief growth officer.<\p>
'Devastating': Water outage costs Ponce attraction $230K
Like many in the hospitality industry, Slater Hospitality had to shut the doors at one of its businesses due to Atlanta's water outage during the past week.<\p> The Roof at Ponce City Market, which features food and drink and an amusement park, does the majority of its business on the weekend, co-owner Mandy Slater told Atlanta Business Chronicle. The venue had to close last Friday and Saturday and reopened with limited water pressure on Sunday.<\p>
Gwinnett sends $17B transit referendum to voters
Later this year, voters will decide the fate of a proposed sales tax that would fund transit expansion in Georgia's second-most populous county.<\p> Gwinnett County’s Board of Commissioners voted 4-1 at a Tuesday meeting to place a one-penny sales tax referendum on November ballots. The 30-year tax would support a $17 billion plan for bus rapid transit, expansive rideshare service and more.<\p>
SCAD dean on developing talent, rise of AI in fashion
Savannah College of Art and Design School of Fashion Dean Dirk Standen had much to be proud of following the school's 2024 graduate show. <\p> He described it as showing “60 individual points of view.”<\p>
The National Observer: Sign of reversal seen amid loan delinquencies
Welcome to The National Observer, a roundup of top business news and actionable insights from across The Business Journals network of publications. Today we've got stories on a decline in asking prices in the housing market, a shift in consumer-spending habits and changes coming to Cracker Barrel restaurants. But first, we go inside the numbers on still-rising delinquencies among loans backed by commercial real estate.<\p> Get more stories like these every day in your inbox by subscribing to The National Observer newsletter.<\p>
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