ATLANTA (Nov. 5, 2013) – Dale Henson, the city's top multifamily expert and the first to predict Atlanta's calamitous condo collapse, died at his home last week. Henson, 85, died of cancer, according to his obituary that ran in today Atlanta Journal-Constitution.
In 1999, Henson warned that the "condomania" sweeping Atlanta would end in economic disaster for overzealous developers.
For the past four decades, Dale Henson Associates served as the go-to consultant to apartment and condo developers wondering whether to pull the switch on a new multifamily project. Henson also proved to be a go-to guy for reporters covering commercial real estate in Atlanta during the boom of the 1990s and bust of the 2000s.
I got to know Dale in the mid-1990s while covering real estate at Atlanta Business Chronicle. His office was directly across Peachtree Street from 1801 Peachtree, a former home of the Chronicle. Dale always made himself available to discuss proposed projects such as Post Properties' plans for a development at 2626 Peachtree. That tower, Post Peachtree, was the firm's first apartment tower designed to be quickly converted to condos (and it was).
In 1999, as owners scrambled to convert every class A apartment tower to condo and developers lined up sites to develop new condos, Henson urged caution. After all, no one knew the true depth Atlanta's high-rise condo market at the time because it really never existed outside a couple well-know towers.
Here's an excerpt from the May 1999 article.
The conversions will catch the attention of condo developers such as California's John Kusmiersky, who is pre-selling Park Regency near Phipps Plaza, said Dale Henson, a national apartment consultant and president of Atlanta-based Dale Henson Associates.
"They're going to say, `Wait a minute. They're going to steal our thunder,' " he said.
The current "condomania" that's sweeping Atlanta needs to slow, Henson added.
"A little caution is in order because there's so many [condos] coming," he said. "But, well-placed ones will go, as they always do."
Rest in peace, Dale. You called it.
Here's information about services and survivors, from the AJC obituary..
Milton Dale Henson, 85, died Oct. 30 in his home from cancer. H.M. Patterson and Son, Spring Hill Chapel will be handling arrangements as well as cremation services. A private service was held Sunday, and a memorial gathering will be held Thursday, Nov. 14 from 4-6 p.m. at H.M. Patterson and Son, Spring Hill Chapel. A private grave-side burial is scheduled for later this year.
In addition to his wife, Henson is survived by his daughter, Cathy Dayle Henson of Asheville, N.C.; his sons, Alexander Loring Dale Henson of Atlanta and Kyle Scott Henson of Williamson; his daughter-in-law, Beth Morehouse Henson of Williamson; his sisters, Monza Henson Wilson of Ozark, Ala. and Lazanda Henson of Atalla, Ala.; his brother, Aaron Gerome Henson of Natchitoches, La.; and his grandson.