MIDTOWN | Colony Square Renovation | 220,000 SF retail

[smArTaLlone]

• North American Properties is seeking a specialty market, boutique theater, curated restaurant concepts and flagship retail to fill the retail space. A grand opening is planned for July 2018 on the 50th anniversary of Colony Square breaking ground.
  
• A second phase of the renovation will include a new tower. Whether the tower will be office, hotel or residential has yet to be determined.

[bigstick]

This should have been done years ago.......

[Atlanta3000]

This project is incredible, but my one fear is North American Properties said it will be developed in phases. Has anyone heard exactly how many phases and timeline?

The one thing Midtown has been lacking with respect to retail is scale (meaning multiple retail stores in close proximity to each other). We saw this at 12th & Midtown and more specifically with CB2. With retail you don't necessarily have to have a huge population within walking distance for it to be successful - you just need a lot of it to create a destination. Look at Avalon in Alpharetta. I have neighbors in Buckhead who drive up to Alpharetta for the same damn stores we have here in Buckhead.

[jwbab]

Originally Posted by Atlanta3000

This project is incredible, but my one fear is North American Properties said it will be developed in phases. Has anyone heard exactly how many phases and timeline?

This is my rough recollection of what NAP said at the Midtown DRC meeting about the order they would do it:

1. Build out the retail on the 100 building and the streetscape from about Juniper around to the parking down ramp on Peachtree Street.

2. Build out the retail on the 400 building and remainder of streetscape up around 15th St.

3. Whenever they can get the 4-5 big retail tenants they are negotiating with to sign leases, they will begin on the retail portion behind the 100 and 400 buildings & taking the roof off to create the open-air plaza in the middle.

4. Build new retail out in the northern part of the site, with longer term plans to build a new tower on 15th Street. They have not decided whether the tower will be office, hotel, etc..

They said steps one and two above are technically in the same "phase" but they have to do them one at a time in order to minimize the impact on the existing restaurants operating currently in the buildings.

[Street Advocate]

Maybe it's because I haven't eaten lunch yet, but I'm starting to drool at all of the retail and restaurants coming to Midtown. Alta Midtown, Crescent revamping, the Canteen, Caraveca Market @ Trace Midtown, and Colony Square... seems like Midtown may be in store for an influx of better quality and unique restaurants. Here's hoping, at least.

[atlantaguy]

Originally Posted by Street Advocate

Maybe it's because I haven't eaten lunch yet, but I'm starting to drool at all of the retail and restaurants coming to Midtown. Alta Midtown, Crescent revamping, the Canteen, Caraveca Market @ Trace Midtown, and Colony Square... seems like Midtown may be in store for an influx of better quality and unique restaurants. Here's hoping, at least.

We know NAP has been in talks with Mario Batali to bring Eataly to Colony Square, but it's certainly not official.

Thought I would share renderings of their first West Coast location. They are part of the massive $800 million reno of Westfield Century City: http://la.racked.com/2015/6/16/87863...ity-renovation

[smArTaLlone]

Colony Square Renovation

North American Properties unveiled its proposed renovations to the existing mixed-use development at 1197 Peachtree Street, which will be executed in multiple phases. Major components of the project include installation of new two-story store fronts at the existing 100 and 400 office towers, removal of the existing mall roof and reconstruction of the retail experience, and a proposed new building at the northern portion of the site as the last phase.

Ultimately, this project has the opportunity to substantially enhance the pedestrian experience and energize storefront retail along Midtown's signature street. The reconfigured site plan proposes the removal of the Peachtree drop-off lane, enhanced pedestrian access into the interior retail area, on-street parking, and vehicular access improvements at the existing driveways. The committee recommended conditional approval for this project and requested additional information on components such as retail design, a right-of-way swap with City of Atlanta, and the feasibility of proposed traffic calming solutions as the project moves forward. 

[smArTaLlone]

They are definitely seeking to bring some of the top local chefs and restaurateurs to Colony Square.

Originally Posted by jwbab

This is my rough recollection of what NAP said at the Midtown DRC meeting about the order they would do it:

1. Build out the retail on the 100 building and the streetscape from about Juniper around to the parking down ramp on Peachtree Street.

2. Build out the retail on the 400 building and remainder of streetscape up around 15th St.

3. Whenever they can get the 4-5 big retail tenants they are negotiating with to sign leases, they will begin on the retail portion behind the 100 and 400 buildings & taking the roof off to create the open-air plaza in the middle.

4. Build new retail out in the northern part of the site, with longer term plans to build a new tower on 15th Street. They have not decided whether the tower will be office, hotel, etc..

They said steps one and two above are technically in the same "phase" but they have to do them one at a time in order to minimize the impact on the existing restaurants operating currently in the buildings.

Thanks for the info

It's notable that they have move beyond "interest" to negotiation with several potential tenants.

[smArTaLlone]

These renderings show the final phase - the new tower. This is also where the potential Apple store would be located.

[smArTaLlone]

Selected By Hambidge Creative

The 12 artists selected will move into their spaces immediately, and the installations will be open for public interaction from April 1 to June 3.

http://patch.com/georgia/southcobb/s...tm_content=aol

[smArTaLlone]

https://atlanta.curbed.com/2017/5/2/...ed-for-takeoff

North American Properties—the developer who purchased Colony Square in 2015 and then announced radical plans to peel the roof off its retail nucleus—received City of Atlanta permits in late April that will clear the way for the property’s redevelopment, beginning this fall, officials said.

[megalopolis]

Originally Posted by smArTaLlone

https://atlanta.curbed.com/2017/5/2/...ed-for-takeoff

Is this new rendering phase 1? Does the existing 5Church space go away? It looks like it would have to.

[smArTaLlone]

Originally Posted by megalopolis

Is this new rendering phase 1? Does the existing 5Church space go away? It looks like it would have to.

This rendering is of the 100 building, which is phase 1, and the view is from 14th street. 5Church wouldn't be visible from this view but I seriously doubt that its going anywhere. They mentioned that construction would be done in phases in order to limit the impact on existing businesses.

A view of the current conditions

[megalopolis]

Originally Posted by smArTaLlone

This rendering is of the 100 building, which is phase 1, and the view is from 14th street. 5Church wouldn't be visible from this view but I seriously doubt that its going anywhere. They mentioned that construction would be done in phases in order to limit the impact on existing businesses.

A view of the current conditions

Ah, okay. Thanks, this makes sense now. I was confused and thought it was a rendering of the 400 building.

[Martinman]

They are actually calling this Phase 1A to be immediately followed by Phase 1B. This is the construction schedule as I understand it.

• Phase 1A - build-out retail at the 100 building and streetscaping.
• Phase 1B - build-out retail at the 400 building and streetscaping.
• Phase 2 is removing the roof and creating the open-air plaza. Once they have signed 4-5 of the major tenants they are in talks with, this phase will begin.
• Phase 3 will be the new tower at 15th street.

[nmadsen]

I'm excited about this project. Particularly the new tower portion. Hopefully they do something noteworthy for that phase.

[smArTaLlone]

The little grassy corner on 14th street will be remade as "The Grove".

[Street Advocate]

Originally Posted by smArTaLlone

The little grassy corner on 14th street will be remade as "The Grove".

That corner looks exactly the same plus an additional entry point, outdoor seating, and more impervious surface. I'm all for more street level retail and entertainment at this part of town, although I'm not sold that this project will have the it factor that will lure people here. Hopefully the amount of new residences essentially demands a more active and higher quality entertainment presence in the area and makes this project a success.

[smArTaLlone]

Blank Label, a custom men’s clothing store out of Boston, plans to open its first Atlanta store at Midtown’s Colony Square on July 17.

https://www.bizjournals.com/atlanta/...-breaking.html

[smArTaLlone]

https://www.bizjournals.com/atlanta/...om-invest.html


Colony Square will receive $7.6 million in tax abatements over 10 years while the project will generate $29 million in taxes over the same period. The makeover will include a food hall, eight-screen movie theater, and a fitness center.

In typical Mayor Reed fashion, he hints that there are other significant projects in the works nearby that he can't discuss while negotiations are ongoing.

"You will soon see other businesses attracted to that corridor that will make this $7.6 million look like a rounding error." Reed said.