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With the need for affordable housing continuing to grow nationwide, low-income housing tax credit/LIHTC and rural housing programs allow more properties to be developed.
Developers have focused on big box construction, but with more need for last-mile distribution facilities, developers are turning their focus to smaller builds.
“1375 Peachtree is a truly unique property and we're very excited to transform it into an office asset with modern, state-of-the-art amenities," says Jerry Banks, managing director for the Atlanta region at Dilweg.
The underlying issue with valuations is the appraisal review board within the appraisal system, says Rahul Patel, managing partner of Patel Gaines, a Texas-based law firm specializing in property tax issues.
When it acquired the 405,000-square foot building last year the company vowed to launch an aggressive leasing initiative once the improvements were complete.