This is just an observation...
There are now 5 proposed office building in Midtown, stretching from 3rd street to 17th street, and totaling more than 2.3 million square feet of speculative space.
1) 17th & W. Peachtree (MetLife) - 25 stories
2) 14th & Peachtree (Selig) - 51 stories
3) 12th & W. Peachtree (Selig) - 36 stories
4) 8th & W. Peachtree (Cousins) - 31 stories
5) 3rd & W. Peachtree (Portsman) - 23 stories (formerly planned as apartments)
All of these proposals have gone 'dark' and are damn near on page 2 of the Atlanta page, which speaks volumes on the lack of dirt being turned on each of these sites.
But we keep talking about Opus, which is obviously a hole to China.
So, why is there a resurgence in speculative office proposals in Midtown?
Do the developers know something we forumers don't?
Or, are they just blindly proposing sh*t that will never get built?
Or, are they positioning the development of their proposals to hit the market when the demand is highest?
And,
why haven't we heard any "shovel-ready" movement on any of these proposals?
Are these developers waiting on some BIG announcement before they break ground?
I've never seen such interest in speculative office building in Midtown. If this were Buckhead during the late 2000's, I could understand since Buckhead was the only place outside of Atlantic Station building office towers within the city limits. And, of course, those towers in Atlantic Station were not speculative.
Any thoughts on what's holding these development from breaking ground.