Atlanta Project Thread IV

[bryantm3]

Originally Posted by forj

"WRS would renovate the buildings and bring in new ground-floor retailers"

the street level is *not* the ground floor of those buildings. the ground floors are under the viaduct. does this mean they are reopening the original street level under peachtree, or is this just an error by the author?

[smArTaLlone]

http://www.bizjournals.com/atlanta/n...ips-arena.html

Atlanta Mayor Kasim Reed has called a press conference at 2:30 p.m. Tuesday to “make important real estate announcement” that is expected to relate to the renovation of Philips Arena.

Hawks principal owner Tony Ressler said in July 2015 the team was considering three options for its home arena -- upgrade Philips Arena, move to and upgrade the Boisfeuillet Jones Atlanta Civic Center site, or move to an undisclosed location within the city.

[smArTaLlone]

http://saportareport.com/atlanta-haw...philips-arena/

The $192.5 million deal includes $142.5 million from the City of Atlanta, but Reed gave assurances that no new taxes would be going towards the renovation of the arena.

Most of the city’s contribution will come from the extension of the car rental tax, which Reed estimated will total $110 million. Then the city will allocate $12.5 million from the sale of Turner Field to dramatic renovation of Philips Arena. The remaining $20 million will come from the city selling off “smaller parcels that are excess municipal inventory,” Reed said.
The Atlanta Hawks and Ressler will be contributing $50 million to the project.

The modified arena will feature new amenities on every level of the building, 360-degree connected concourses at all levels, improved sightlines and state-of-the-art video throughout the building.

Renderings of the transformed Philips Arena – how it will look in the fall of 2018

[mademan404]

Originally Posted by forj

so, these are all existing buildings just south of five points station, located here

https://www.google.com/maps/place/74...8!4d-84.391377

most of them are crappy ghetto shoe stores or other things like that.. so i do hope they turn it into something nice.. there are a couple historic buildings mixed in there which if they bought i hope they conserve.. but really i wish they would buy up some of the damn parking lots around Garnet Station instead..t hats where we need to see some real development happening.

EDIT: well it would help if i read that damn article ( slaps self on wrist )..

"WRS would renovate the buildings and bring in new ground-floor retailers"

this sounds good! i always wondered how places such as C&S Beauty Supply, or the shitty phone store next door, or the shitty clothing store next to that managed to pay their rents each month. Also, holy shit the Metro Mall property is part of this deal! so they will probably be kicked out.. thank god.. people might actually want to go downtown again

Please remember that every business in that collective represents at least one family income. That's food, shelter, and clothing for a set of kids that deserve better than your ill wishes for the financial security of their community.

As a real estate professional, I know first hand how the market works. The strong will survive, but the idea that "People will want to go downtown again" dismisses the thousands of people who live, work, eat, and shop downtown everyday.

Atlanta might be able to retain some of it's amazing character in this development cycle if more people were willing to invest in these communities with a longer term vision as opposed to sterilizing the area, and then building cookie cutter glass and steel yuppie boxes.

[TarHeelJ]

Originally Posted by mademan404

Please remember that every business in that collective represents at least one family income. That's food, shelter, and clothing for a set of kids that deserve better than your ill wishes for the financial security of their community.

As a real estate professional, I know first hand how the market works. The strong will survive, but the idea that "People will want to go downtown again" dismisses the thousands of people who live, work, eat, and shop downtown everyday.

Atlanta might be able to retain some of it's amazing character in this development cycle if more people were willing to invest in these communities with a longer term vision as opposed to sterilizing the area, and then building cookie cutter glass and steel yuppie boxes.

It's just not the "right" people who are living, working, eating, and shopping downtown every day I guess. Those South Downtown shops generate a good bit of foot traffic, but it's not trendy or high end so many people just look past them as unworthy of existing. I would like to see that area cleaned up and thriving again too, but I hate that it has to be at the expense of the what's already successfully existing there.

[sunking1056]

The poster pretty clearly means "white people" will want to go downtown again.

[smArTaLlone]

Leasing is progressing at this development. I know some have complained about the surface parking but they aren't adding new parking and I really love the neighborhood oriented retail concept.

[smArTaLlone]

It would suck to get yet another banal apartment building instead of this beauty.


http://www.bizjournals.com/atlanta/n...-building.html

The 2.2-acre site on North Avenue a block from Boulevard is back on the market after it remained difficult to secure construction financing for the proposed 165,000-square-foot office building, known as 525 North. At the same time, apartment developers have continued making offers for the land. A buyer could be picked by the end of the year, the broker says.

he biggest hurdle for 525 North has been construction financing, a reminder of the downturn several years ago when many banks suffered huge write-downs on their real estate portfolios. In recent months, lenders have also backed off financing new apartment projects until it becomes clearer how quickly and at what rates all the new units under construction lease up.

Seven Oaks still plans to make an offer on the site.

[smArTaLlone]

http://www.bizjournals.com/atlanta/n...ice-tower.html

A 30-story office tower on downtown’s Woodruff Park is set to be converted into a mixed-use project that includes a new hotel — the latest target for investors scooping up aging buildings in the city’s core.

Dion Meltzer has 34 Peachtree under contract and plans a 170-room hotel.

[SwimAtl]

Originally Posted by smArTaLlone

http://www.bizjournals.com/atlanta/n...ice-tower.html

I've thought for a long time that this had re-development potential. It's 'modern' lines are interesting to me; I like its simplicity. I think outstanding lighting could make a big difference in its appearance.

[trainiac]

Originally Posted by SwimAtl

I've thought for a long time that this had re-development potential. It's 'modern' lines are interesting to me; I like its simplicity. I think outstanding lighting could make a big difference in its appearance.

Agreed, and if they took the cladding off of the Metropolitan to the left, that would look great too. It's amazing how much better "The Office" looks now with just some clean-up and nice accents and "color"

[smArTaLlone]

Per the ABC article, a $50 million is substantial enough to include a new facade.

Work to convert the top 12 floors of the building from office space could begin as soon as January, with exterior and interior overhauls planned as part of the $50-million project, the ABC reports.

The Curbed article also includes news on couple of other hotel projects.


http://atlanta.curbed.com/2016/11/11...orthside-drive

• Meanwhile in West Midtown, permit filings indicate Bridgesouth Hospitality is planning to bring a hotel to Northside Drive and 10th Street. The permits offer little information other than that the name of the project is Hotel Cameron.
  
  
• Due to changing market and lending conditions, however, Legacy Ventures has decided to hold off on a dual-branded Homewood Suites / Canopy by Hilton for the foreseeable future and reevaluate the proposal next year.
  
  

[smArTaLlone]

A couple of projects had their Land Development permit issue this past week and could be breaking ground at any time.

CODA Tech square
Northside Midtown

[Martinman]

CODA just broke ground today. There is heavy equipment on site moving dirt as of today.

[smArTaLlone]

http://www.bizjournals.com/atlanta/n...to-reveal.html

Atlanta Mayor Kasim Reed will hold a press conference Nov. 15 at 3 p.m. to reveal the plans for a new hotel at Hartsfield-Jackson Atlanta International Airport.

The project near the airport’s domestic terminal will include a conference center and 50,000 square feet of office space.

The hotel would form the heart of an effort to spur commercial real estate development around the more than 4,700-acre Hartsfield-Jackson Atlanta International Airport campus.

[smArTaLlone]

http://www.bizjournals.com/atlanta/n...n.html?ana=twt

The new 440-room, four-star hotel at Hartsfield-Jackson Atlanta International Airport will be an 11-story InterContinental designed by John Portman & Associates.

[TarHeelJ]

Originally Posted by trainiac

Agreed, and if they took the cladding off of the Metropolitan to the left, that would look great too. It's amazing how much better "The Office" looks now with just some clean-up and nice accents and "color"

The Office looks amazing compared to the drab, hardly noticeable building that it was before. I've always wondered what The Metropolitan would look like without the cladding...I don't hate the cladding but I think I would like the original exterior much better. I would much rather see it like this:


https://en.wikipedia.org/wiki/The_Me...nk_atlanta.jpg

[trainiac]

I was visiting my uncle who lives a block or two from the East Point MARTA station and there's always been a sizable chunk of undeveloped land behind his house. He said that 7+ acres was going to be a mini-neighborhood with 57 tiny houses all under 1000 square feet.

The developer has a website now for Eco Cottages at East Point


Here: http://www.epecocottages.com

That road through the middle should be a nice little connection between Central/Cleveland and Montrose to the west

[smArTaLlone]

The parking lot is now closed. It's not only the holiday season. In Midtown it must be groundbreaking season. Looking at you Eviva.

http://atlanta.curbed.com/2016/11/21...-moves-forward




http://www.coopercarry.com/project/a...l-brand-hotel/

[sunking1056]

Originally Posted by smArTaLlone

The parking lot is now closed.

I believe the lot is actually "Closed!"