DEAR CHRISSY: I've heard that rates are dropping again and they might even be as low as they were last year around this time, but I just got quoted a rate of 5.5 for a 30 year fixed - that seems high to me? ~ Nicole, Dunwoody
DEAR NICOLE: You are correct, we are currently experiencing a 14 month low. If you were quoted 5.5% on a 30 year fixed rate then I would say... read more »
Cumberland to be the Next Perimeter
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Just SOLD!!
Smyrna-Vinings
2156 Cumberland Drive
5 bedroom 5 bath
$707,000
Vinings Voices with a Shout of Smyrna
A Glimpse of Cumberland Malls Renovation
Shopping malls are constantly repositioning themselves. Retailers come and go, along with targeted market segments. About the time the parking lots of the first outdoor shopping centers needed resurfacing, retailers started creating huge, indoor malls in the 1970s. There are now more than a dozen spread throughout metro Atlanta, and with a few notable exceptions (Lenox Square and Phipps Plaza, certainly; Perimeter Mall, maybe), each has had to adapt to its most immediate market to survive.
Cumberland Mall in Cobb County is a great example. Since Cumberland opened in 1973 it has transfigured itself at least three times and currently is undergoing a $65 million renovation that will add 77,000 square feet of space and create what it calls a "lifestyle plaza" on one side of the mall. (That's mall talk for an outdoor plaza that allows access to restaurants, shops and other areas without having to walk through the mall to get there. Such "lifestyle centers" are all the rage in the newest generation of malls, such as the Mall of Georgia in Gwinnett and the new mall under construction in Henry County.)
When it opened, Cumberland was the prototypical suburban mall, catering to affluent, white shoppers. As Cobb County and northwest Atlanta changed in the 1980s, affluent African-American shoppers also began to patronize Cumberland and, with that, the mix of retailers changed somewhat.
Competition from nearby Town Center Mall and Perimeter forced other changes at Cumberland over the years. The latest renovation is no doubt based on marketing studies showing a huge influx of condominium buyers and young-adult apartment renters, both white and black, who are streaming into nearby Vinings and the surrounding area.
What used to be a stand-alone commercial district is now being surrounded by new residences -- one of the chief goals of the Cumberland Community Improvement District.
FOR ADDITIONAL INFORMATION ON THE PROPERTY LISTED ABOVE OR THE TIP PROVIDED
PLEASE FEEL FREE TO EMAIL CHRISSY@CASTLESBYCHRISSY.COM OR CALL ME AT 404.925.5335
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