Atlanta Project Thread III

[echinatl]

Originally Posted by smArTaLlone

By Leon Stafford
The Atlanta Journal-Constitution

The College Football Hall of Fame that Atlanta officials hope to someday build downtown could cost almost double the original price and be twice as large as previously envisioned.

At least that's what hall boosters said at a Tuesday hearing before the Georgia Legislature's joint economic development subcommittee.

"What we are trying to do is raise roughly $80 to $90 million to build something between 75,000 and 100,000 square feet," said Phil Jacobs, former executive at Bell South who spoke on the project's behalf. "That will allow us to open this thing in late 2011. "

That is far from the $50-million cost leaders were citing last fall when they landed the hall in a move from South Bend, Ind. At that time, the size of the facility, which they hope to locate around Centennial Olympic Park, was about 50,000 square feet.

The Hall of Fame backers, which included Ken Stewart, commissioner of the Georgia Department of Economic Development, came to the legislature in hopes of securing $10 million in general obligation bonds to aid in land acquisition for the building.

I hope they do it! This was a massive win for Atlanta and if this slips away everyone should be extremely disappointed and embarrassed that we couldn't get it done.

[TarHeelJ]

Originally Posted by echinatl

I hope they do it! This was a massive win for Atlanta and if this slips away everyone should be extremely disappointed and embarrassed that we couldn't get it done.

Yes, the entire city should be embarrassed about the recession we brought upon ourselves...come on, it's bad everywhere.

[cybele]

Well if local folks feel all that strong about it maybe they should get involved and start ponying up some money and such. That's how we got things done back in the day.

[cybele]

Well it sounds like something big is happening at the Greenbriar Mall.

Greenbriar Mall's New Owner Kept Secret

ATLANTA-The new owners of Greenbriar Mall plan significant capital improvements to the 807,697-square-foot property on 94.5 acres. They just don't want anyone to know who they are, or how much they paid.

Hendon Properties LLC says it has sold the 1960s vintage mall, one of Atlanta's first enclosed retail centers, to a "foreign investor" that it declined to identify. Jones Lang LaSalle handled the sale of the mall, which was reportedly in danger of foreclosure.

"In the past year, we've positioned Greenbriar extremely well with much positive leasing momentum," Charlie Hendon, the mall's previous co-owner, stated in a release. The mall is currently 94% occupied and is anchored by Macy's.

Margaret Caldwell and Kris Cooper, managing directors with the Atlanta office of Chicago-based Jones Lang LaSalle, stated that international investor interest in US retail assets is growing. "Greenbriar offered stable in-place income, combined with numerous opportunities for value-add and repositioning, making it an extremely attractive investment opportunity," Caldwell added.

Local commercial real estate observers, who were not involved in the transaction and don't want their own identities disclosed, speculate that global politics may be a reason for not immediately revealing the new owner of Greenbriar Mall. They also note that extremely low prices being paid for distressed assets are keeping parties to deals from being as forthcoming with information as they were when sales records were being broken.

What in tarnation does global politics have to do with it?

[echinatl]

Originally Posted by cybele

Well if local folks feel all that strong about it maybe they should get involved and start ponying up some money and such. That's how we got things done back in the day.

Do you have any examples?

This is something that would generate revenue for the entire state, It's hard for me to see why anyone would be against it.

[cybele]

Originally Posted by echinatl

Do you have any examples?

This is something that would generate revenue for the entire state, It's hard for me to see why anyone would be against it.

Well what about the High Museum or the Woodruff Arts thing and the Aquarium and such as that? That was basically rich folks down in Buckhead putting up private money for the good of the city. I'm not saying anybody is against it, I doubt they are, I'm just saying you can't sit around and wait on the government to do everything, people have to roll up their sleeves and take care of business theirselves.

[echinatl]

Originally Posted by cybele

Well what about the High Museum or the Woodruff Arts thing and the Aquarium and such as that? That was basically rich folks down in Buckhead putting up private money for the good of the city. I'm not saying anybody is against it, I doubt they are, I'm just saying you can't sit around and wait on the government to do everything, people have to roll up their sleeves and take care of business theirselves.

I agree that those would be the best way to do things, but the college football hall of fame thing was an opportunity that came out of the blue, a definite "oh shit how did we score that!?" type of thing. Did anyone think we would beat out Texas on this? Also I think 10 mil in private dollars have already been committed. I don’t mind the city helping because it will be a big revenue driver for the city long term. There are so many benefits, including a great chance the city will make back more than whatever they put in, and to me it out weighs the issue I have with the government using tax dollars for these types of projects. It's one of those opportunities that I think they should do whatever it takes to make it happen. Any really rich people able to donate?
Also looking around I noticed the high was founded in 1905, so that is probably too old to be relevant. The aquarium and Woodruff projects were awesomely lucky.

[cybele]

Originally Posted by echinatl

Also looking around I noticed the high was founded in 1905, so that is probably too old to be relevant.

Well to be honest the High Museum wasn't that big a deal until Mr. Woodruff and the other big wheels got behind it after the big plane crash in the 1960s. Ann Uhry Abrams wrote a book about the whole thing.

On the college football thing it would be great if the city had the money for museums and whatnot but from what they said on the TV they are running out of policemen and firemen and are still $100 million dollars short.

[TarHeelJ]

Originally Posted by cybele

Well to be honest the High Museum wasn't that big a deal until Mr. Woodruff and the other big wheels got behind it after the big plane crash in the 1960s. Ann Uhry Abrams wrote a book about the whole thing.

On the college football thing it would be great if the city had the money for museums and whatnot but from what they said on the TV they are running out of policemen and firemen and are still $100 million dollars short.

It's not simply a "college football thing"...it's a nationally known hall of fame that will attract MANY tourists. If I visited the one if South Bend (and I'm a marginal college football fan) then I know it will be a great attraction for the city of Atlanta.

There is no need to try and minimalize the importance of this huge win for the city. Yes, there are more important issues in Atlanta, but forgoing a jewel like this would not be the route to take.

[cybele]

Well it's a good thing for Atlanta all right but I'm just talking about raising the money. Why put it on the taxpayers instead of private people who are all fired up about it going out and raising or contributing the money.

[TarHeelJ]

Originally Posted by cybele

Well it's a good thing for Atlanta all right but I'm just talking about raising the money. Why put it on the taxpayers instead of private people who are all fired up about it going out and raising or contributing the money.

Exactly...why do anything good for the city? Just let it slip into oblivion - it's cheaper.

[trainiac]

They're tearing down one of the buildings across Butler from the original hospital building. Maybe one of the Children's Healthcare buildings?

Anybody know what they're building there?

[plorenc]

Originally Posted by trainiac

They're tearing down one of the buildings across Butler from the original hospital building. Maybe one of the Children's Healthcare buildings?

Anybody know what they're building there?

Yeah, it's Phase II of the Children's Healthcare expansion.

http://www.hjrussell.com/constructio...esspalding.htm

Too bad they're moving the surface parking lot that the first new building replaced right in front of the new one.

[TarHeelJ]

Originally Posted by plorenc

Yeah, it's Phase II of the Children's Healthcare expansion.

http://www.hjrussell.com/constructio...esspalding.htm

Too bad they're moving the surface parking lot that the first new building replaced right in front of the new one.

Yes it's too bad, but hospitals require parking. People simply can't always take public transit to the hospital.

[smArTaLlone]

Originally Posted by TarHeelJ

Yes it's too bad, but hospitals require parking. People simply can't always take public transit to the hospital.

True but it looks like it would have been relatively easy to put the parking on the interior of the block as would have been done in any city "gets" urbanism. Its disappointing that new buildings like this keep going up in the heart of the city.

[cybele]

New bridge closes downtown street

[echinatl]

Originally Posted by cybele

Well it's a good thing for Atlanta all right but I'm just talking about raising the money. Why put it on the taxpayers instead of private people who are all fired up about it going out and raising or contributing the money.

We're in 100% agreement here for most projects, but as some others have also stated this is such a big deal with far reaching benefits I think the stance of the city should be do whatever it takes, even if it's something crazy like raising taxes temporarily. It would be great if they came up with a system that would allow anyone to donate, maybe put up a big cheesy "goal thermometer" at the planned site.. whenever that is announced.... I think I read somewhere that Atlanta has the highest number of corporate College Football sponsors in the country. I'm sure there are potential donations somewhere in that last sentence if it's true.

[Kenneth Disraili]

According to Mr. Ed Walls, Hotel General Manager for the Westin Peachtree Plaza whom I spoke with on the phone yesterday, there are 6,350 panes, but that includes the individual skylights at the top of the atrium which will also be replaced.

[Fiorenza]

this is such a big deal with far reaching benefits I think the stance of the city should be do whatever it takes

Even I support the use of public funds here. This is an investment, and it better be well-funded with a resulting venue that's impressive.

[cybele]

Well from what I hear there are no public funds. A friend of mine said he heard the mayor say the ATL could not do anything unless they take on more debt which they will probably have to do anyway just to try to pay the pensions on which they are already way in the whole, and if they don't pay that on time the feds and what-have-you will turn off the water on everything else. So they should probably raise the money from all those corporate donations echinatl is talking about. Whose going to own this thing anyway? If the taxpayers put up the money they should at least own the dang thing.