For months, Sandy Springs' Economic Development Advisory Committee has looked at various aspects of the city, such as businesses and the housing market, in order to create a strategy to maintain high quality of life for residents, retain businesses and attract new ones.
Who's on the committee? See the 13 committee members listed below.
On Tuesday, committee chairman Jim Comerford presented Mayor Eva Galambos and City Council members with a detailed report.
Comerford said there is a definite connection between businesses and neighborhoods. “If you are trying to attract [a UPS-type company] to Sandy Springs, one of the significant factors in their determination on whether to bring their corporate headquarters [here] is whether or not there are cultural neighborhoods and schools [that] are attractive to their executives,” he said.
See details on the housing market from the Advisory Committee’s report, below.
Comerford said eight sub-committees would flesh out details or a road map to business retention, branding Sandy Springs and interconnectivity with neighborhoods. "We hope we are creating a strategy that will last well beyond any of us on the committee and hopefully through several generations of elected officials in city government," Comerford said.
Housing Market Overview
- 55 percent of residents own homes.
- The median home value is $319,300.
- 51 percent of all housing units are multi-family.
- Less than 5 percent of land in Sandy Springs is vacant. The report says future development will be small scale or redevelopment of existing parcels.
- Apartments comprise 43 percent of housing units and 1,441 arcres. That's nearly 6 percent of land area.
- More than 11,500 units or 57 percent of apartment stock was built between the 1960s and 1980s, the report says.
- There are 17 Class A properties in Sandy Springs which typically are smaller, luxury, high rent properties where tenants rent by choice, the report says.The developments are usually less than 10 years-old and sit on 242 acres.
- 23 apartment complexes are Class B on 631 acres, with a mix of renters by choice vs. necessity. The developments are usually 10-25 years-old.
- 34 apartment complexes in Sandy Springs fall under Class C, sit on 586 acres, and generally attract low to moderate income renters, the report says.
- The report reflects what many experts believe: There will be a decline in homeownership in the coming years.
Members of the Economic Advisory Committee
Jim Comerford, with Proscenium Capital, chairman
Graham McDonald, O’Daniel McDonald, vice chairman
Chris Burnett, Cornerstone Bank
Pat Chesser, Ackerman and Company
Eric deGroot, Holland America Chamber
Daniel DiLuzio, DiLuzio and Henssler
Mark Hackner, FOG Capital
Allan Herrick, Sapient Atlanta
Tom Mahaffey, Sandy Springs/Perimeter Chamber of Commerce
Tom Miller, Grubb & Ellis
Kevin Moyer, KAM Asset Management
Charlie Roberts, Roberts Properties
Dr. Josephine Tan, Georgia Power