SCENE
WELLNESS
Easter eggs aplenty
Know your status event
The Easter Bunny will be busy as a bee on April 15, leaving goodies for kids at egg hunts all around South DeKalb. 4
Free rapid HIV testing will be available at the Flat Shoals Library in recognition of National Youth HIV & AIDS Awareness Day. 5
Let’s Keep DeKalb Peachy Clean Please Don’t Litter Our Streets and Highways
EAST ATLANTA • DECATUR • STONE MOUNTAIN • LITHONIA • AVONDALE ESTATES • CLARKSTON • ELLENWOOD • PINE LAKE • REDAN • SCOTTDALE • TUCKER
Copyright © 2017 CrossRoadsNews, Inc.
April 8, 2017
Volume 22, Number 50
www.crossroadsnews.com
AMC theater at Stonecrest getting new owner, name By Jennifer Ffrench Parker
AMC, with U.S. box office revenues of $1.89 billion, has about 388 theaters with 5,295 screens in 33 states and the District of Columbia. Carmike, with U.S. box office revenues of $490 million, has 271 movie theaters with 2,917 screens in 41 states. The Justice Department required AMC to divest cinemas in 15 local markets, including Stonecrest and Conyers, where it competed head to head with Carmike. Stonecrest patrons, many of them taking kids on spring break to the movies, were caught off guard Thursday when they showed A sign announced the change from AMC up at the cinema and were met with locked Theater (above). At left, a worker scrapes
AMC Theatres, which closed at the Mall at Stonecrest on April 6, was scheduled to reopen this weekend as a New Visions Entertainment cinema. The departure of the AMC brand from Atlanta is part of a civil antitrust settlement with the U.S. Department of Justice connected to AMC Entertainment Holdings Inc. pending $1.2 billion acquisition of Carmike Cinemas. The two companies, with combined U.S. box office revenues of more than $1.9 billion, are ranked second- and fourth-largest in the $11.1 billion U.S. movie market. Please see MOVIES, page 2
the AMC logo off the doors at the sinemas at the Mall at Stonecrest.
Photos by Jennifer Ffrench Parker / CrossRoadsNews
Renters hankering to live in Chamblee, Tucker Average prices rising faster than wider metro area
Apartment homes like the Loft in Chamblee in DeKalb County have seen their rent rates rise highest in the metro Atlanta area within the past year.
By Terry Shropshire
Chamblee and Tucker are now home to two of metro Atlanta’s most in-demand neighborhoods with the average prices for rentals up 13.5 percent over last year, surpassing the $1,000-per-month mark. Apartment search sites RENTCafé and its sister company Yardi Matrix show that Chamblee, in north DeKalb, was metro Atlanta’s fastest-growing rental market in 2016 with apartment rent rates up 13.7 percent in just one year. In Tucker, a quaint new city in central DeKalb, rates rose by 11.6 percent. RENTCafé says that Chamblee’s surge in rent rate to an average of $1,207 a month is “more than in any other town in the metro area and more than in any of the most expensive ZIP codes of Atlanta.” In Tucker, which became a city in 2016, the median apartment rent rate of 11.6 percent is good for second place in the eastern half of metro Atlanta and the fifth-highest rate hike overall. Other DeKalb areas seeing rental rate booms include Kirkwood and adjacent areas in ZIP code 30317. They are up 9.5 percent with average rent above $1,000 a month. In 2016, more than 5,000 new apartments joined metro Atlanta’s inventory. South DeKalb, by comparison, saw slower rental increase countywide. RENTCafé data show that unincorporated Decatur, for example, saw its average rent rise 7.4 percent, while Lithonia and Clarkston rates only inched up to 2 and 2.7 percentage points, respectively. RENTCafé, which published the study in February, gets data from its sister company Yardi Matrix, an apartment research firm covering large-scale multifamily developments in 124 U.S. markets. The apartment search website attributes the brisk DeKalb
Terry Shropshire / CrossRoadsNews
apartment rental market to an influx of millennial and baby boomers attracted by two key socio-economic factors – the suddenly hip suburban lifestyle and demand outstripping supply, which triggered the higher rates. Across metro Atlanta, three other cities ¬– Fairburn (11.7 percent), Jonesboro (10.5 percent) and Lilburn (11.6 percent) – had double-digit rent increases in 2016 and their average rents surpassed $1,000 monthly. Metro-wide, Yardi Matrix apartment data show that average rent reached $1,128 per month, up 25 percent from 2013. For example, in January 2015, an average metro Atlanta apartment was renting for $1,349. In January 2017, it was $1,580. In June 2015, the average rate for a twobedroom apartment reached $1,005 per month, then a first for the metro area – and average rent was $66 higher than in May 2014.
The upward trend in rent rates continues in the wake of the housing crisis that depressed homeownership rates. Atlanta is now in the top 10 metropolitan areas for rental growth nationally with the demand for rentals also fueled by the fact that many millennials and other low- and middle-income earners either can’t afford a home, don’t have affordable housing options, or don’t want the risk. Other desirable towns like Peachtree City (8.8 percent growth), Norcross (8.2 percent) and Decatur (7.4 percent) are also in the top 20 metro markets, but none had the double-digit increases of Chamblee and Tucker in 2016. Discover DeKalb President/CEO James Tsismanakis attributes Chamblee’s appeal to its international flavor and its access to two major interstates, which makes it easy for residents to get around the city, state and region.
He said Chamblee is really taking off because of Buford Highway. “We spent a lot of time promoting the international dining opportunities on Buford Highway,” he said. “We promote very heavily in that Chamblee/ James Tsismanakis Doraville/Buford Highway corridor the international dining, the international culture, the Chinatown Mall in Chamblee, new additional Farmer’s Market on Chamblee-Tucker Road.” Tsismanakis said that Chamblee’s proximity to interstates 85 and 285 also makes it attractive to millennial movers and shakers. The city also is conveniently located near a MARTA train station with free parking, providing another option for mobility Please see TRENDY, page 2