Living in the heart of Atlanta is exciting, expensive, and competitive. If you plan to rent an apartment in Buckhead, it is important to understand the prices and space available. It is best to be informed before you move. This article discusses the many trends taking place now in Buckhead and should provide the necessary background information you need.

Real-estate development and the credit markets are nearly frozen, but developer Ben Carter seems undaunted as he moves forward with plans to bring his hometown Atlanta its own version of New York’s Madison Avenue.

Mr. Carter’s $1.5 billion project, The Streets of Buckhead, aims to be the Southeast’s most luxurious shopping, dining and living destination, spanning seven city blocks and eight acres in one of Atlanta’s wealthiest neighborhoods. It will also be located near two of Simon Property Group’s most successful upscale malls: Phipps Plaza and Lenox Square.

“I don’t think a lot of people understand what I’m doing because it’s very rare a luxury street project gets created from scratch,” Mr. Carter said. “We’re making a new kind of experience.”

Mr. Carter remains confident and said the economic downturn could actually benefit his project’s first phase.

“I’ve heard the economy should start to recover next year,” Mr. Carter said. “We open in late 2009 or maybe early 2010. Our timing ought to be pretty good to capture the pent-up demand.”

With about 50% of the project’s first phase leased, Carter’s tenant list already boasts market exclusives such as French jeweler Van Cleef & Arpels and Brunello Cucinelli, an Italian luxury cashmere company. He even stole Hermes SA from Simon, leasing the French luxury goods maker its first Atlanta flagship stand-alone location.

But while Mr. Carter’s development seems to be off to a good start, some observers say it could be in for a bumpy ride. That’s because, as the global credit crisis continues to unfold, he faces a tough real-estate financing market, as well as a consumer environment where even the wealthiest are scaling back purchases.

The credit crunch has dealt real-estate developers around the country a potent blow, causing them to delay, scale back or even cancel some projects. CBRE/Torto Wheaton Research, a Boston-based real estate research firm, estimated that developers delivered 6.3 million square feet of retail real estate space during the third quarter — or about three-quarters of the 8.5 million square feet originally planned.

So there you have it. A little update on what is being developed in the Buckhead area.

If you’re budget-minded, don’t mind a bit of cold weather (or are seeking the perfect warm-weather retreat), love seafood, and have a historic mindset, then Nova Scotia is the place for you.

During the late 19th-century, Nova Scotia beckoned a select group of wealthy families, who traveled by train and steamer to their grand seaside Victorian “cottages” from New York, Boston, Philadelphia and other industrial hotbeds.

Little has changed in 100 years at this summer colony in the North Atlantic: The atmosphere is still somewhat staid, unhurried and family-oriented. The pristine coast is uncrowded and less developed than anywhere in North America; the real estate still costs just a fraction of that in the United States and Europe.

Nova Scotia, located on Canada’s Atlantic coast east of Maine, is shaped like a lobster with its claws grasping toward the remote province of Newfoundland and its tail pointing in the direction of New York and Boston. Latin for “New Scotland,” Nova Scotia is named for its resemblance to the homeland of some its first European settlers. The Scottish print on this land is large, but so is that of the Irish, French and the British?with each culture having left its mark.

About half the size of New York State with a population just under a million, Nova Scotia boasts 3,600-miles of craggy shoreline sprinkled with scenic fishing villages and quaint small towns. Long a destination for vacationers and retirees from throughout Canada, in recent years, the once sleepy region has been attracting American and European transplants with its seductive beauty, rich history, slow pace, proximity to the United States and, of course, affordable real estate.

Perhaps nowhere in Nova Scotia is the official label “Canada’s Ocean Playground” more pronounced than on the South Shore. In the heart of this region along Nova Scotia’s picturesque Lighthouse Route lies White Point Estates, a charming oceanside residential community developed amid White Point Beach Resort & Country Club?once a private lodge for well-heeled outdoorsmen. On prime oceanfront fringed by white sand beaches, lush woodlands and a flowing river, White Point, is a microcosm of the best of Nova Scotia. With its laid-back historic ambience and hypnotic water views, the new seaside enclave seems almost too good to be true.

In the midst of a sprawling 159-room resort with lodges and private cottages and a 9-hole CPGA-rated golf course to boot, White Point offers a variety of lots to build on. They range from 3/4 of an acre to roughly 2 acres and are priced starting at $45,000. Building lot choices offer something for everyone; including gently-sloping wooded spreads and stunning oceanfront (and waterview) sites. Here, in-the-know expatriates and Canadians are buying lots to build vacation and full-time residences in an area where they will rub elbows with cosmopolitan transplants, tourists, seafarers and locals. So far, a handful of lots have been sold, but given their prices and the accompanying amenities, including a a host of services and recreational opportunities, they are sure to go fast. And, White Point will work with you through every step of the home-building process.

Sales of vacation and future retirement properties in places like White Point Estates are booming, real estate specialists say. Cost-conscious and city-weary arrivals from afar increasingly seek respite and new starts in Nova Scotia. No wonder the maritime province is increasingly lighting up the radar screens of those searching for an affordable alternative to traditional vacation, second home and retirement retreats, where rising home prices have left many priced-out of the market.

Since the media?including the likes of Consumer Reports, International Living and CNN?have begun to rate Nova Scotia among the world’s best places to vacation, live and retire, property costs have risen as much as 50% annually in some areas of the province. Yet despite the price increases, property here remains a fraction of what one would pay for similar real estate back home. And with enticements like some of the world’s most spectacular scenery, a relatively temperate climate (winters are milder than the northern U.S.), and a low profile, stress-free lifestyle far from the rat race, wars and terrorism, it’s easy to see why life looks so good under the Maple Leaf.

For details about White Point Estates, visit www.whitepointestates.com or contact Doug Fawthrop at 902-354-2711, ext. 370 (toll-free 800-613-2171), e-mail: doug@whitepoint.com.

Getting There

Nova Scotia is close enough to the U.S. and Europe that you won’t get jet lag getting there. The capital Halifax is a 2-hour flight from New York; 6 hours from London. Portland, Maine, from which the 5.5-hour ferry departs to Nova Scotia, is about a 90-minute drive from Boston. For ferry information, visit: www.catferry.com.

Where to Stay

White Point Estates offers a Site Inspection Package (couples for $159 weekdays; $199 weekends), allowing prospective buyers to visit for two nights at White Point Beach Resort while exploring all that the community has to offer. To reserve a tour, call 1-800-613-2171.