Atlanta preservationists have won a short term victory by stopping tear downs to protect older neighborhoods from people building “McMansions” amongst the bungalows. The city will bring this up for a vote to determine to extend the moratorium for 120 days while they study the issue.
The moratorium applies to five Atlanta neighborhoods that have hot real estate markets. The council is considering limiting the size of houses in those neighborhoods.
“My phone certainly has blown up today,” Chris Burke, a vice president with the Greater Atlanta Home Builders Association, told the newspaper. “People want to know what’s going on.”
The fight about McMansions has pitted preservationists against the construction industry and real estate business. One real estate agent suggested the big losers might be current property owners.
“An outdated ranch might be worth ($500,000) as a teardown, but not nearly that much as a house,” Natalie Spaulding said. via United Press International
The phrase “Unintended Consequences” comes to minds writing this. Do you think the city of Atlanta will keep the moratorium and reduce everyones taxes to recognize their reduction in property values? I sincerely doubt it.
My guess, this will end up in court as non of these properties are historic. There is no justification for the government to limit a persons property rights in this way.
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