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ATLANTA? NOT YET

Atlanta
ATLANTA? NOT YET
Kurt Hartman Hines multifamily Atlanta southeast florida charlotte dunwoody seven ravinia
We sat down with Hines Interests' Kurt Hartman last week at the company's Dunwoody office to get a little more detail on its shift to multifamily. Hines is taking the first steps toward building Class-A garden-style and urban high-rise apartments throughout the Southeastern US and is currently negotiating to buy land in Charlotte and Florida. But Kurt tells us that, for now, Atlanta is off the radar: ?I don't think it's there yet.? The fundamentals are not enough to justify a significant new multifamily development, Kurt says. And that's despite a two- to three-year turn-around time on a ground-up project. The company hired Alan Patton, the former president of Dallas-based The Morgan Group, to head up the multifamily initiatives. Hines won't be a long-term operator of apartments but plans to sell the projects once completed. ?We really are just trying to take advantage of what the opportunities provide.?