Arts Center Transit Station Area Enhancements Cost Estimate
2013
Midtown Atlanta transit station enhancements at the Arts Center Station. Total Cost:...
Station Summary
King Memorial is on the Blue/Green line. The station is located in a mostly residential area. Residents living near King Memorial spend less than the regional average on housing and transportation. In this area, the average resident drives 5,384 fewer miles annually than the regional average. Additionally, the average resident living near King Memorial spends $11,756.78 less per year on housing than the regional average.
Median Household Income
$48,699/yr
income spent on housing :: 17%
income spent on transportation :: 26%
income remaining :: 57%
All figures from a 0.5 mile radius
Population
Census for 2012 :: 4,170
Projected for 2017 :: 6,380
Travel
Average travel time to work based on 60 minutes.
Income
Employees earning more than $3,333 / mo.
Rental
Average apartment rental for this neighborhood station.
$1,074
$12,888
What amenities and services are in the area?
Art
Banks
Bike
Medical
Schools
Why Equitable Development?
Equitable TOD combines people and place-based approaches to ensure that the value created when land near transit is built out is accessible to, and provides opportunities for, all community residents living near transit.
The market near King Memorial station is growing and has a moderate/high probability of changing demographics. Renters are the first to be affected by an increase in property values in a growing market. As the market grows housing values will increase, limiting income diversity.
Achieving Equitable Development
In order to retain current residents and provide access to new amenities and services, Transformation Alliance?s equitable development strategy for this station area is:
- improve access to jobs in other areas,
- create and preserve affordable housing
- expand jobs and services for existing residents
Employed
Renters
WalkScore
Station data
Characteristics
Site Accessibility
| Station Area | Average from all Station Areas | ||
|---|---|---|---|
| MARTA Station Typology Designation | Neighborhood | ? | |
| MARTA Parking Utilization | 0% | 51% | |
| WalkScore | 85 | 69 | |
| Bike Score | 54 | 34 | |
| Journey to MARTA Walk + Bike | 27% | ? | |
| Journey to MARTA Drive + Carpool | 1% | ? | |
| Journey to MARTA Transfer | 57% | ? | |
| Sidewalk conditions (miles) Above Average | 0 | 4 | |
| Sidewalk conditions (miles) Average | 4 | 5 | |
| Sidewalk conditions (miles) Poor | 10 | 4 | |
| MARTA Daily Enteries | 1,941 | 4,882 |
Development Opportunities and Context
| Station Area | Average from all Station Areas | ||
|---|---|---|---|
| MARTA TOD Acreage | 4.0 | ? | |
| Adjacent Large Properites | Vacant Lots | ? | |
| Zoning Station or Parking Lot(s) | C-1, O-I, RA-5, R-75, RM-75 | ? | |
| Zoning Adjacent Area(s) | ? | ? | |
| Reccomended Intensity at the Site | 3-10 FAR | ? | |
| Current Intensity at the Site | Underway | ? | |
| TAD | Eastside | ? | |
| TAD | Eligible | ? | |
| LCI | Downtown Atlanta | ? |
Real Estate
Office
| Station Area | Average from all Station Areas | ||
|---|---|---|---|
| Office - Inventory (SF) | 619,683 | 3,964,869 | |
| Office - Vacancy | 22.2% | 11.90% | |
| Office - Average Rent | $13.14 | $14.86 | |
| Office - 10 Year Growth | -6% | 3% |
Retail
| Station Area | Average from all Station Areas | ||
|---|---|---|---|
| Retail - Inventory (SF) | 600,719 | 1,474,105 | |
| Retail - Average Rent | $18.80 | $15.47 | |
| Retail - 10 Year Growth | 8% | 16% |
Housing
| Station Area | Average from all Station Areas | ||
|---|---|---|---|
| Housing - Inventory (Units) | 2,754 | 2,218 | |
| Housing Density / Acre | 5.5 | 4.4 | |
| Housing - % Renter | 59% | 56% | |
| Housing - % Multifamily 5+ Units | 60% | 53% | |
| Housing - % Built Since 2000 | 25% | 19% | |
| Housing - Average Apartment Rents (1 Mile) | $1,074 | $956 | |
| Housing - Average Apartment Vacancy Rate (1 Mile) | 6.6% | 7.30% | |
| Housing - 2012 New Avg. Sales Price (1 Mile) | $173,553 | $252,596 |
Demographics
Population
| Station Area | Average from all Station Areas | ||
|---|---|---|---|
| Population 2012 | 4,170 | 3,930 | |
| % Change 2000-2012 | -28% | 10% | |
| % Change 2012-2017 | 53% | 4% |
From the 2012 Population
| Station Area | Average from all Station Areas | ||
|---|---|---|---|
| % Generation Y (18-34) | 28% | 35% | |
| % Singles | 79% | 75% | |
| Median Household Income | $24,005 | $44,720 | |
| % Employed | 62% | 62% | |
| % Use Public Transit | 8% | 17% |
Employment Base
| Station Area | Average from all Station Areas | ||
|---|---|---|---|
| Travel Time to Work (minutes) | 25.3 | 27.9 | |
| Number of Employees | 6,498 | 17,075 | |
| Employment Density / Acre | 12.9 | 34.0 | |
| % Employees Earning More than $3,333 per month | 44% | 54% | |
| Jobs to Housing Ratio | 2.4 | 7.1 |
