ATLANTA | Development Thread VI - Page 247

scania · #**4921** Posted **Sep 9, 2017, 4:45 PM**

I don't recall ever seeing a topic get so far blown from forummers across the board. It's like every city thinks they might be the one to land Amazon. My two main pages are Atlanta and LA...then SF and NYC. To me this topic was cute for a second...but I really think this needs to be discussed in another forum.

montydawg · #**4922** Posted **Sep 9, 2017, 4:53 PM**

Quote:

Originally Posted by Libertarian

Incentive bid offers from cities for the Amazon project are due by Oct. 19. According to Business Insider almost 50 cities are planning to make offers, but Atlanta is not one of them.
http://www.businessinsider.com/amazo...ago-illinois-1
TBH I don't think Atlanta should offer any tax incentives. I guess infrastructure improvement would be ok.
One other thing to remember. Georgia has a 6% corporate income tax. TX, FL and TN have no corporate income tax. Washington state has no corporate tax.

I would not read too much into whether Business Insider could get a statement from the mayor's office. Additionally, I'm sure Amazon will remain an incorporated Washington state business, meaning the corporate tax for their other locations would be meaningless.

Libertarian · #**4923** Posted **Sep 9, 2017, 5:55 PM**

Quote:

Originally Posted by montydawg

I would not read too much into whether Business Insider could get a statement from the mayor's office. Additionally, I'm sure Amazon will remain an incorporated Washington state business, meaning the corporate tax for their other locations would be meaningless.

Amazon has to allocate income tax where they have activity. The lucky host state would pick up more income tax and Amazon would pay more.
And Jeff Bezos owns a slice of Business Insider, so what they write MAY have significance.

Atlanta3000 · #**4924** Posted **Sep 9, 2017, 6:10 PM**

Quote:

Originally Posted by scania

I don't recall ever seeing a topic get so far blown from forummers across the board. It's like every city thinks they might be the one to land Amazon. My two main pages are Atlanta and LA...then SF and NYC. To me this topic was cute for a second...but I really think this needs to be discussed in another forum.

Scania - normally I would agree, but development news has been dead for several weeks. It's either an Amazon discussion or people bitchin' about parking decks. Pick your poison.

Atlanta3000 · #**4925** Posted **Sep 9, 2017, 6:26 PM**

Quote:

Originally Posted by montydawg

I would not read too much into whether Business Insider could get a statement from the mayor's office. Additionally, I'm sure Amazon will remain an incorporated Washington state business, meaning the corporate tax for their other locations would be meaningless.

Companies pay state taxes on their profit - not revenue. For fiscal year 2016 Amazon had $138 Billion in revenue and less than $4 Billion in profits. For most companies SG&A (Selling, General and Administrative) expenses far and away exceed the state or federal taxes they pay. Also SG&A expenses are where a company's HQ location effects the bottom line most because it includes labor and capital (real estate) expenses. Therefore, I could see Amazon ultimately moving their HQ to the new location eventually.

Pemgin · #**4926** Posted **Sep 9, 2017, 6:54 PM**

I can't imagine Atlanta wouldn't chase this. It really doesn't mean anything that Atlanta hasn't put out an official statement yet.

PhunkyPho · #**4927** Posted **Sep 9, 2017, 7:38 PM**

Quote:

Originally Posted by Atlanta3000

Scania - normally I would agree, but development news has been dead for several weeks. It's either an Amazon discussion or people bitchin' about parking decks. Pick your poison.

OMG PARKING DECKS!!

Street Advocate · #**4928** Posted **Sep 9, 2017, 7:39 PM**

Quote:

Originally Posted by Atlanta3000

Scania - normally I would agree, but development news has been dead for several weeks. It's either an Amazon discussion or people bitchin' about parking decks. Pick your poison.

No midtown DRC agenda out for September, either

Pemgin · #**4929** Posted **Sep 9, 2017, 8:01 PM**

What does everyone think about Opus's targeted launch in October? Will they make it happen in time?

atlwarrior · #**4930** Posted **Sep 10, 2017, 10:59 AM**

Quote:

Originally Posted by Pemgin

What does everyone think about Opus's targeted launch in October? Will they make it happen in time?

I wonder if they are thinking about making it taller again?

Libertarian · #**4931** Posted **Sep 10, 2017, 11:39 AM**

I wonder if they have actual presales.

Atlanta3000 · #**4932** Posted **Sep 10, 2017, 1:13 PM**

Quote:

Originally Posted by Libertarian

I wonder if they have actual presales.

A couple I know went and looked 6 - 8 weeks ago and they were 15% sold

ATLSkyPalaceOwner · #**4933** Posted **Sep 10, 2017, 7:25 PM**

Quote:

Originally Posted by Atlanta3000

A couple I know went and looked 6 - 8 weeks ago and they were 15% sold

As someone who has no frame of reference for the rate that presales should be at, is this positive or negative news?

nature's calling · #**4934** Posted **Sep 10, 2017, 9:25 PM**

Quote:

Originally Posted by ATLSkyPalaceOwner

As someone who has no frame of reference for the rate that presales should be at, is this positive or negative news?

For a frame of reference, the project had $40 million worth of condos under contract in May.

https://www.bizjournals.com/atlanta/...-to-break.html

This is a healthy number although the marketer set a pretty ambitious goal and hopes to have 100 units or more under contract by November.

In any event the developer said Opus would likely start construction regardless of the volume of sales, presumably because they have already secured financing.

Libertarian · #**4935** Posted **Sep 10, 2017, 11:29 PM**

presumably

West Peachtree · #**4936** Posted **Sep 11, 2017, 12:44 AM**

Quote:

Originally Posted by Street Advocate

No midtown DRC agenda out for September, either

You really sure there's no meeting this coming Tuesday - Weather permitting ?

http://www.midtownatlanta.org/event/...nstance_id=597

Street Advocate · #**4937** Posted **Sep 11, 2017, 2:14 AM**

Quote:

Originally Posted by West Peachtree

You really sure there's no meeting this coming Tuesday - Weather permitting ?

http://www.midtownatlanta.org/event/...nstance_id=597

I'd love for the agenda to just be delayed from being public. At the time I posted as well as now, there is no agenda posted on their webpage. If there's a meeting, the agenda is typically up on midtown alliance's webpage by close of business the Friday before the meeting.

http://www.midtownatl.com/about/prog...view-committee

Atlanta3000 · #**4938** Posted **Sep 11, 2017, 10:25 AM**

Amazon picks Atlanta for new logistics hub, locates it in Midtown's Atlantic Station

Is this just a coincidence? Just sayin'............

https://www.bizjournals.com/atlanta/...b-locates.html

bigstick · #**4939** Posted **Sep 11, 2017, 10:36 AM**

Quote:

Originally Posted by Atlanta3000

Amazon picks Atlanta for new logistics hub, locates it in Midtown's Atlantic Station

Is this just a coincidence? Just sayin'............

https://www.bizjournals.com/atlanta/...b-locates.html

Wow, that has to mean something.....

daharris80 · #**4940** Posted **Sep 11, 2017, 2:12 PM**

Quote:

Originally Posted by bigstick

Wow, that has to mean something.....

It means Amazon might employ up to 150 people in 25,000 sq. ft. of office space at AS.

Are you suggesting they came out with an RFQ on Friday to try and get billions of incentives to bring a development they say may employ tens of thousands of employees only so that on Monday they can make their intentions clear by making a decision public they probably knew weeks ago that a business unit with 150 employees is opening an office in Atlanta?

Lets all discuss how terrible of a decision it was for Amazon to choose AS for their HQ2 because it's now imminent.