Property Value Destruction

“Economic Development” side effects are damaging to the taxpayers whose tax dollars go to this unholy alliance between CIDs and local governments.  Big new developments bring gridlock to our inadequate highway system and tax holidays and Bonds eat tax dollars needed to fill pot holes. Why should taxpayers subsidize stadium and mall replacement ?

Abandoned building cause blight and destroy the property value in neighborhoods where this occurs.  This does not occur in cities where well planned, well-built residential, commercial and public buildings are well maintained.

In the Atlanta metro area, we’ve seen a pattern of destruction that occurs when major venues change locations.  This is most visible when we move the location of stadiums, shopping malls and schools to build new ones. This happens every 20 years in Atlanta.  

The stadium moves seem to be happening to ensure that we always have the “latest new stadiums” to attract big events.  The large shopping mall moves can be initiated when anchor stores move out. North DeKalb Mall is the poster child for the decline of large shopping malls. The anchor stores are boarded up and minor stores and offices are filling the small store spaces slowly. Northlake Mall has lost some of its newness, but is still functioning. Chamblee Mall lost its anchor stores years ago, but functions as a secondary mall. Perimeter Mall still functions, but gridlock sent a lot of customers to Northpoint Mall when it was built. Northpoint Mall is the newest of these and is still functioning, but was not well build or well maintained and is losing stores to Avenues, a new mall development just north of Northpoint.

The average size strip mall can lose the grocery store and that space is filled by a lower volume store. This creates a secondary mall that causes other businesses to move to new locations. When this occurs, property owners may need to lower rents, but they also stop maintenance and a “death spiral” occurs. 

You would think that this high turnover could eventually result in better planned developments, but this doesn’t happen in Atlanta metro “infill” development. Instead of putting venues together, we find them scattered all over town.

Schools and other government buildings should be built to last 100 years. Schools should be K-8 neighborhood schools. Middle schools should be eliminated. Bonds shouldn’t be used to build schools because they cost double. School districts should set up accrual accounts to fund maintenance and new construction.

In St. Louis, there is a grid of highway systems that allow you to go from one side of town to the other in 20 to 30 minutes.  St Louis created a 1,371 acre park in midtown in 1872 to host the 1904 World’s Fair. Forest Park now houses the Zoo, the Municipal Opera, a golf course, the Art Museum, Missouri History Museum, Steinberg Ice Skating Rink, a lake, restaurant and boathouse and acres of picnic areas and playing fields. The value of living close to the park has stood the test of time. Homes continue to be updated, well maintained and popular with home buyers. 

In Atlanta, there is no effective highway grid, these venues are scattered all over town and we build new stadiums every 20 years in new locations.

Norb Leahy, Dunwoody GA Tea Party Leader