Conclusion

Reinventing these neighborhoods and introducing these new marketplaces has made a dramatic difference on the demographics of these areas. The population of both neighborhoods has increased and transitioned into being made up of primarily white people in their mid 30’s. The average income rate has risen, property value has risen, and the crime rate has decreased. These markets draw more people into these areas due to the entertainment and job opportunities that they hold.

However, despite the many positive aspects of these built environments, there are a few negatives aspects as well, such as the displacement of the original residents of the area. When these built environments take over the area, causing population rates to rise,  an increase in demand of housing also takes place. This results in an increase of the prices of housing, which forces many of the original residents to relocate in order to find more affordable housing options. Since these areas are becoming increasingly popular, the amount of traffic, pollution, and construction, along with the noise levels, have risen. 

 

Sources:

Systems, Inc. Yardi. “725 Ponce.” COMMERCIALCafe. N.p., n.d. Web. 27 Mar. 2017.

“154 Krog StreetAtlanta, GA 30307 ·.” LoopNet. N.p., n.d. Web. 15 Apr. 2017.

 

Description of Ponce City Market

Previously, before the Sears, Roebuck & Co building was renovated, the area surrounding Ponce de Leon Avenue was of lower income and less than desirable. Once Ponce City Market was up and running, the areas began to experience an influx of changes.

The Ponce City Market is the area’s largest adaptive reuse project, transforming the historic Sears, Roebuck & Co building into a dynamic space, housing the Central Food Hall, a variety of eclectic shops, office spaces, and even apartment flats. Not only does Ponce City Market offer a multitude of shops and restaurants, but it also holds occasional events such as a “filled pasta making class”. With its modern flare, this market brings a new age feel to a  historically-significant structure. With the market being located along the BeltLine, and with the assortment of shops and restaurants, a wide range of people are drawn to this area. The foot (and vehicle) traffic of the Ponce City Market has influenced more businesses and residences to inhabit the area. 

 

Sources:

Ponce City Market. N.p., n.d. Web. 19 Mar. 2017.

“From Sears to Ponce City Market, 1926-present.” Myajc. N.p., n.d. Web. 15 Apr. 2017.

Demographics of Ponce de Leon Area

The demographics of the Ponce de Leon area have changed substantially after the opening Ponce City Market. The population has increased, the demographic of the population has changed, the average household income has increased, and the economy in general has increased. 

Between 2000 and 2015, the population of this area has increased over 28%, to a whopping 111,965 people within a three mile radius of Ponce de Leon Avenue. The population is equally split with 50.3% being made up of men,  leaving the remaining 49.7% of the population for women. In just 5 years, between 2010 and 2015, the population on the three mile radius increased by 4,654 people, which is about 4.34%. 

 

 

Along with the population increasing, the average household income has increased as well. Over the course of 15 years, between 2000 and 2015, the average household income has increased by 26%, and 10% of that increase happened within just 5 years. In 2011, the average household income was $54,905, by 2015 that number increased drastically to $84,772.

 

Sources:

“2752 Ponce de Leon Ave.” N.p., n.d. Web. 15 Apr. 2017.

Systems, Inc. Yardi. “3060 East Ponce De Leon Avenue.” COMMERCIALCafe. N.p., n.d. Web. 15 Apr. 2017.

 

History of Ponce City Market

Even though Ponce City Market is housed inside of the old Sears, Roebuck & Co building, the renovation and repurposing of this building has completely changed the demographics of the Ponce de Leon area. 

In 1925, Sears, Roebuck & Co of Chicago purchased 16 acres of land on Ponce de Leon Avenue with the plans to construct a retail store and a warehouse distribution center for the Southeastern US. The land was confined by Ponce de Leon on the north, Glen Iris Drive on the west, North Avenue on the south, and the Southern Railway on the east. After some time, the needs for a warehouse in the city began to diminish as many distribution centers were relocating to suburban sites. Sears, Roebuck & Co closed in 1989. The building was purchased from Sears by the city of Atlanta, under Mayor Maynard Jackson. It was soon converted into a center for city offices and renamed as City Hall East. After almost 20 years, the occupancy of City Hall East dropped to 10%, leading the City of Atlanta to sell the building. After taking note of its location, being in the proximity of four established neighborhoods, and realizing the potential of this historic building, Jamestown made a deal to purchase the building and began the restorations. In the summer of 2012, Dancing Goats Coffee Shop opens as the first tenant of Ponce City Market. Two years later, Suzuki School, Binders Art Supplies Store, The Flats leasing office, Ponce Gallery, General Assembly, Athenahealth, and many other businesses open their doors for business. Shortly thereafter, Ponce City Market it fully open and equipped with shops, the Central Food Hall, and BeltLine access. 

With unique and intriguing restaurants, boutique shops, and modernized apartments, Ponce City Market attracts people of higher income ranges, which generates economic improvements in this area.

 

Sources:

Systems, Inc. Yardi. “725 Ponce.” COMMERCIALCafe. N.p., n.d. Web. 27 Mar. 2017.

Ponce City Market. N.p., n.d. Web. 19 Mar. 2017.