That’s definitely Avalon, which has become a standout community in Alpharetta. What about Atlantic Station, where you have retailers like Ikea and DSW in urban Atlanta?
Yes. The business plan is different. With Avalon, we wanted to create a special, high-touch environment, and we built it. At Atlantic Station, we didn’t lay a brick, but we created a program that drove value for our investors. We’ve been successful in that growth. So we are still looking at what we could acquire in the mixed-use sector and on what basis.
You’ve done a lot of thinking about one of the least talked about but important pieces of retail real estate, parking lots, haven’t you?
Parking is the first experience and the last experience of a trip to a center. We want to make that experience as easy and as valuable as it can be. At Avalon, we have valet services that will deliver all your purchases to your car or your hotel room. We own a property called Birkdale Village in North Carolina where there are more than 300 apartments and hotel rooms. We aim for density around the parking lots.
Should guests at retail centers pay for their parking or not?
Charging for parking is project-specific. At Avalon, we’d never charge. In Midtown Atlanta at Colony Square, you pay for parking there and everywhere else in the area. There are lots of ways to monetize parking, and it’s competitive. Look at the app SpotHero. If you don’t want to pay $22 to shop in downtown Atlanta and you’re willing to walk four blocks, SpotHero will get you a spot for $6.