Opus Place | 53 floors

[jct3]

I just walked by there, sales gallery closed like it is every other time I walk by.

I wonder if they're holding out dim hopes that somehow Amazon will come here and bring in some well-heeled buyers. At this point I'm not sure why they don't simply cut their losses & move on. I can't imagine any way this gets built.

[ThrashATL]

Every listing for this project disappeared from Zillow but one and Trulia still lists Opus.

[skyscraperpage17]

Originally Posted by ThrashATL

Every listing for this project disappeared from Zillow but one and Trulia still lists Opus.

IMO, like Eviva, it's safe to consider this one dead in the water.

[Ant131531]

The Symphony Center Site is our cursed site in this city. Usually every city has at least one.

We tried to tell the Opus believers. Site work does not take a year. It's amazing how Austin can pull off multiple 500+ ft plus condo tower and Atlanta struggles to even get one off the ground. Maybe that's the power of a strong Tech base.

[skyscraperpage17]

Originally Posted by Ant131531

The Symphony Center Site is our cursed site in this city. Usually every city has at least one.

We tried to tell the Opus believers. Site work does not take a year. It's amazing how Austin can pull off multiple 500+ ft plus condo tower and Atlanta struggles to even get one off the ground. Maybe that's the power of a strong Tech base.

Pretty much the bolded.

[Sura]

Sad.

[atlwarrior]

Originally Posted by skyscraperpage17

Pretty much the bolded.

I think they were trying to see how many people would bite, and get financing that why. I would rather developers who already have deep pockets.

[atlwarrior]

Originally Posted by Ant131531

The Symphony Center Site is our cursed site in this city. Usually every city has at least one.

We tried to tell the Opus believers. Site work does not take a year. It's amazing how Austin can pull off multiple 500+ ft plus condo tower and Atlanta struggles to even get one off the ground. Maybe that's the power of a strong Tech base.

Austin is indeed on fire and have a gorgeous skyline.

[jpk1292000]

Originally Posted by skyscraperpage17

Pretty much the bolded.

I guess. It's not because of median household income, where Atlanta is ahead of Austin.

[Libertarian]

An upscale super-rise condo will happen and do well in Midtown market in the near future. Opus would never perform because of two factors. First, the lack of quality of the developer. You don't want to make a major investment with an angle-shooter newby. Second, the site is actually better suited for a S&P500 corporate office ediface. Look at the most expensive residential projects in Manhattan - they're not sandwiched between office buildings and market apartments. Most are in fact bordering on or just a short walk from Central Park and other similar expensive residential co-ops. Sure, proximity to the High Museum is something but it's not a huge draw. I'm sure Lincoln Center helps on the upper west side but it just adds a bit to the overall magic there. The right location in midtown to build an iconic condo building is the Piedmont Driving Club parcel. Would require big money and influence to pull it off.

[ATLMidcity]

Does Austin have a Buckhead-like area siphoning off luxury condo buyers?
Sometimes having 3 CBDs can be a curse and other times a plus.
I like having 3 distinct business districts within the city limits.

Each will reach its true potential within our lifetime.

[Ant131531]

Originally Posted by Libertarian

An upscale super-rise condo will happen and do well in Midtown market in the near future. Opus would never perform because of two factors. First, the lack of quality of the developer. You don't want to make a major investment with an angle-shooter newby. Second, the site is actually better suited for a S&P500 corporate office ediface. Look at the most expensive residential projects in Manhattan - they're not sandwiched between office buildings and market apartments. Most are in fact bordering on or just a short walk from Central Park and other similar expensive residential co-ops. Sure, proximity to the High Museum is something but it's not a huge draw. I'm sure Lincoln Center helps on the upper west side but it just adds a bit to the overall magic there. The right location in midtown to build an iconic condo building is the Piedmont Driving Club parcel. Would require big money and influence to pull it off.

Speaking of office LOL.

No. 2 Opus Place condo tower to feature more than 200,000 sf of office space

A planned 53-story condo tower on Midtown’s symphony center site is getting another major revision.

“No. 2 Opus Place” will now include 214,000 square feet of office space to “meet increasing demand for modern, creative workplaces along the Peachtree Street corridor,” the project’s developers say.

The offices will occupy space between the 1st and 17th floors, according to the new plans.

“That’s quite a shift,” said Chris Hall, with real estate consulting firm Haddow & Co., which has been tracking progress on the project since it was first unveiled to the market four years ago.

Alex Brock, an attorney with Smith, Gambrell & Russell, which is representing the development, said the latest plans have been reviewed by the Midtown Development Review Committee. A special administrative permit, or SAP, has been submitted to the city.

Lori Lane, with a division of Berkshire Hathaway HomeServices, which is marketing the 182-unit tower, confirmed more than 30 percent of the condos are under contract. Buyers who originally planned to own units on the project’s lower floors will now have condos above the office space, with better views, she said.

More than 50 units under contract now exceeds the tower’s presale mark, Lane said. Most of the remaining units start at around $600,000.

At 730 feet, "No. 2 Opus Place" could be one of the city’s tallest residential towers. Vertical construction should begin in early 2019, Lane said.

It's actually taller than before. Yay. Hopefully this is what they need to get this off the ground now.

[ThrashATL]

Originally Posted by jpk1292000

I guess. It's not because of median household income, where Atlanta is ahead of Austin.

Atlanta is jacking 2 or 3 dozen 20-30 story condo towers where Austin is pushing up much fewer (yet taller) projects. Atlanta has a much much larger downtown/midtown land area to cover, density by quanity.

[Street Advocate]

Originally Posted by Ant131531

Speaking of office LOL.

Double LOLLLLL

The timing of this article could not have been more perfect.

Originally Posted by ATLMidcity

I like having 3 distinct business districts within the city limits.

Each will reach its true potential within our lifetime.

I do not agree with this sentiment. Atlanta is really just getting started and IMO there's no way we're at "full potential" within the next sixty years or so.

[joecool]

[QUOTE=Ant131531;8346151]Speaking of office LOL.

No. 2 Opus Place condo tower to feature more than 200,000 sf of office space

[Martinman]

Whether or not this ever gets built, it is hilarious that this news came out just as some of us were putting the final nail in the coffin.

Originally Posted by ATLMidcity

Does Austin have a Buckhead-like area siphoning off luxury condo buyers?
Sometimes having 3 CBDs can be a curse and other times a plus.
I like having 3 distinct business districts within the city limits.

Each will reach its true potential within our lifetime.

That's exactly the point I was going to make. All of the "energy" in Austin in terms urban development is in one concentrated area. I would also add that having such large job markets in Perimeter/Cumberland/Alpharetta also siphons away some of the potential of the core area.

[Libertarian]

Wake me up when they announce a general contractor.

[Dale]

There will be a lot of butthurt people here if this one goes ahead.

[Libertarian]

Yeah, I don't think these kulaks can produce a worthy product.

[Pemgin]

Originally Posted by Dale

There will be a lot of butthurt people here if this one goes ahead.

No. 2 Butthurt Place