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Atlanta Business Chronicle
Meet Atlanta's Most Admired CEOs of 2024
Each year, Atlanta Business Chronicle recognizes the metro area's Most Admired CEOs.<\p> The awards honor chief executives, managing directors, market leaders and principals with a strong record of innovation in their field, outstanding financial performance, a commitment to quality and diversity in the workplace and contributions to the metro Atlanta community.<\p>
National company commits funding for Atlanta youth center
The Atlanta Police Foundation plans to build its fourth At-Promise youth center with the help of QuikTrip, which has agreed to give $3 million toward the project. <\p> Representatives from both organizations along with other business, city and community leaders took part in a ceremonial groundbreaking Friday at the proposed site at 2175 Martin Luther King Jr. Drive SW, which is midway between the West Lake and Hamilton E. Holmes MARTA transit stations. <\p>
Major landlords targeted by class-action lawsuits over pricing
Several major apartment landlords from across the country are under fire over rental rates — allegations that have spawned a wave of class-action lawsuits and garnered the attention of state and federal authorities. <\p> The lawsuits have high-stakes for the apartment market and beyond, with potential to shape how pricing software could be utilized in multiple industries. <\p>
Expanded relief fund approved for businesses impacted by water crisis
Atlanta officials have enlarged a recovery fund for small businesses affected by a couple of major water main breaks, which left much of the city without reliable access to water for days.<\p> At a Monday meeting, Atlanta City Council agreed to transfer $7.5 million to Invest Atlanta. The city’s economic development arm will distribute the funding to businesses in the form of grants to cover lost revenue, employee wages and other expenses incurred during the recent crisis.<\p>
Affordable housing project breaks ground in northeast Athens
A national investor in workforce housing development is teaming with an Atlanta-area company to deliver low-income housing in northeast Athens.<\p> Indianapolis-based real estate investment firm Birge & Held and the Decatur-based housing nonprofit Tapestry Development Group plan to develop an affordable housing community in Athens-Clarke County called Athens Flats.<\p>
Fuqua among team selected for Downtown entertainment project
State officials have named a development team for a project that would build an entertainment destination next to Mercedes-Benz Stadium.<\p> The Georgia World Congress Center Authority (GWCCA) is looking to repurpose the 11-acre Home Depot Backyard. The state agency put out a request for qualifications for the project in April.<\p>
BeltLine starting construction on Northwest Trail
Construction is starting this month on the first section of the BeltLine's Northwest Trail, which will form the northern arc of the 22-mile trail network.<\p> Atlanta BeltLine Inc. plans to hold a June 24 groundbreaking ceremony for Segment 5, which will run 0.7 miles from the intersection of Marietta Boulevard and Huff Road to Ellsworth Industrial Boulevard and English Street. Construction is expected to last for 14 months.<\p>
Homeowners continue to build equity, impacting future buying decisions
American homeowners continue to build significant equity even as the housing market has slowed and home prices aren't rising as rapidly as they did in recent years.<\p> U.S. homeowners with a mortgage pulled in $28,000 in equity gains on average year over year in the first quarter, the highest amount since late 2022, according to CoreLogic Inc. That average year-over-year increase of 9.6% translates to a collective gain of $1.5 trillion and means net homeowner equity totaled more than $17 trillion at the end of Q1.<\p>
Partners' new Atlanta office lands Cushman team
Houston-based Partners Real Estate continues to build its new Atlanta team.<\p> The commercial real estate firm has recruited an office leasing team from Cushman & Wakefield: Chad Koenig and Katelyn Fabian.<\p>
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>
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