Gultch/CIM Group Development - Page 39

MarketsWork · #**761** Posted **Mar 17, 2024, 2:41 AM**

Nice photos, young man! There's been a lot of progress on those two buildings since you last ran by there. Thank you for posting the views.

smArTaLlone · #**762** Posted **Mar 25, 2024, 1:48 PM**

https://www.ajc.com/news/business/ce...FPCMS4G6E3TVE/

Quote:

Development of the long-awaited Centennial Yards in downtown Atlanta is about to shift into a new gear.

The partners behind the $5 billion downtown project plan to begin construction this year on six buildings, including an entertainment district opposite State Farm Arena and Mercedes-Benz Stadium with components that will open in time for the 2026 World Cup, and joining a hotel and apartment tower already under construction.

Centennial Yards Co., which expects to file for land disturbance permits Monday, is embarking on the largest components yet in the ambitious 50-acre mini-city that’s been in planning since 2018. For decades, the land commonly known as “the Gulch” has been a jumble of rail lines and weedy parking lots that sit some 40 feet below the viaducts that make up surrounding streets.

Later this year, the developer plans to break ground on a 236-unit apartment mid-rise and begin retrofitting the former Norfolk Southern headquarters building into a 166-room hotel, both with ground-floor retail spaces that are slated to open in 2026 or 2027.

smArTaLlone · #**763** Posted **Mar 25, 2024, 2:00 PM**

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

Quote:

Centennial Yards Co., owned by Los Angeles-based CIM Group, is filing permits for an entertainment-focused phase of the project, according to a Monday news release. It plans to start construction in June on several new buildings, adding 480,000 square feet of entertainment, retail and restaurant space to the central business district.

An 8-acre site close to State Farm Arena and Mercedes Benz Stadium would be filled with an "immersive eatertainment concept" housed in a three-story building, four-story entertainment venue for a single tenant, two-story building for food and beverage tenants, 14-story hotel with 233 rooms and a fan gathering plaza. Communal spaces and pedestrian walkways would be blended into the district, according to the news release.

“We are thrilled to unveil this next phase of Centennial Yards and partner with a world-class design firm like Gensler to provide visitors, residents, and locals with an incredible hub for socializing and entertainment," said Brian McGowan, president of Centennial Yards Co., in a prepared statement.

GeorgiaPeanuts · #**764** Posted **Mar 25, 2024, 2:09 PM**

That must be a some sort of typo... they just literally renovated the old Norfolk building into apartments. Why would they then retrofit them again to a hotel?

https://www.apartments.com/lofts-at-...ta-ga/nt1x8zq/

testarossa50 · #**765** Posted **Mar 25, 2024, 2:26 PM**

"Four story entertainment venue for a single tenant" sounds like it's build-to-suit and not spec, and will probably be a marquee attraction with that scale of building. Interested to hear what it is.

I'd love to see more residential, but I get that that's the riskiest part of the job and they probably figure that will follow in the latest stages of the project, on the periphery of all of these more entertainment- and hotel-focused developments. A big food and bev hall is a no-brainer given the stadium. It should be open in time for the World Cup too!

smArTaLlone · #**766** Posted **Mar 25, 2024, 2:26 PM**

Quote:

Originally Posted by GeorgiaPeanuts

That must be a some sort of typo... they just literally renovated the old Norfolk building into apartments. Why would they then retrofit them again to a hotel?

https://www.apartments.com/lofts-at-...ta-ga/nt1x8zq/

It is actually two buildings linked by a sky bridge so they may mean the 99 building which was initially loft office space.

Quote:

The existing buildings are being redeveloped as a dynamic mixed-use complex. Upper floors of the 125 Building provide 162 loft apartments including studio, one and two bedroom units with sizes that range from 400-1200 SF. The 99 Building shell has been restored and the upper floor interiors are being planned as loft office space. The “Canyon” along Ted Turner Drive is a unique urban intervention that will offer 740 linear feet of continuous restaurants/bars and other commercial experiences with approximately 50,000 sf of commercial space to be built-out on two levels.

shivtim · #**767** Posted **Mar 25, 2024, 2:37 PM**

This is great.
My only hesitation is at least for this phase it does seem to be a shift from the initially proposed residential and "neighborhood feel" to an entertainment district. It could end up being barren whenever there's not an event at MBS or StateFarm arena.
I've also heard that they're not playing well with downtown, and wont build a connecting cycle track through the one block of their property where it will be missing once the MLK bridge is complete.

Martinman · #**768** Posted **Mar 25, 2024, 10:51 PM**

Yeah they abandoned those small blocks really quick. Still its super exciting that it's moving forward in such a large way.

montydawg · #**769** Posted **Mar 26, 2024, 12:55 PM**

Quote:

Originally Posted by Martinman

Yeah they abandoned those small blocks really quick. Still its super exciting that it's moving forward in such a large way.

I’m looking forward to the Ripley believe it or not and the benniganns restaurant

shivtim · #**770** Posted **Mar 27, 2024, 8:35 PM**

And so it begins.
Commercial demolition permit filed for 30 Spring St NW.
"CNN Deck Demolition (COM)
Demolition of a portion of an existing 2-story parking deck, installation of guard rails and temporary traffic barriers."

Martinman · #**771** Posted **Mar 27, 2024, 10:18 PM**

Quote:

Originally Posted by montydawg

I’m looking forward to the Ripley believe it or not and the benniganns restaurant

I'm not sure that would even qualify as entertainment.

I did notice and the press release stated that they plan to break ground on eight new buildings by the end of this year. I'm assuming that includes the two already started. Otherwise they owe us some additional renderings.

montydawg · #**772** Posted **Mar 27, 2024, 11:38 PM**

Quote:

Originally Posted by Martinman

I'm not sure that would even qualify as entertainment.

I did notice and the press release stated that they plan to break ground on eight new buildings by the end of this year. I'm assuming that includes the two already started. Otherwise they owe us some additional renderings.

I really hope that MARTA has required a connection to their station as part of this development, considering part of the development is on MARTA property. In the gultch, they can literally punch a hole in the wall of the station at parking lot level, and on the other side is an empty wall in the mezzanine of the station.

numacs · #**773** Posted **Mar 28, 2024, 12:25 AM**

[QUOTE=smArTaLlone;10171951]https://www.bizjournals.com/atlanta/...-district.html

Are they seriously going to put a road around the perimeter of this entertainment district. Nightmare traffic jam waiting to happen.

KAY141 · #**774** Posted **Mar 28, 2024, 12:52 AM**

[QUOTE=numacs;10173849]

Quote:

Originally Posted by smArTaLlone

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

Are they seriously going to put a road around the perimeter of this entertainment district. Nightmare traffic jam waiting to happen.

I'm pretty sure when this is completely built out it will be a grid, I see the road going around the building as kind of a starting point for what will be a grid in the future

atlwarrior · #**775** Posted **Mar 29, 2024, 5:18 AM**

Thanks. This puts it into perspective, and those railroad tracks give you a great visualization of where it will go. It also look like a new loop road will be built around the entertainment center. They should name it Dominic Wilkins Drive. I would love to see the Feds vacate that building in the back for CIM.

Julien · #**776** Posted **Apr 4, 2024, 7:16 PM**

Phase II and The Center (no CNN) deck still being used for parking. So really nothing to see and wasted film.

This view should be gone in a couple of months.

bigstick · #**777** Posted **Apr 5, 2024, 11:30 AM**

Great pics Julien, thanks for all you do here.

Sojourner_Terminus · #**778** Posted **Apr 5, 2024, 4:54 PM**

For real. Really appreciate you and any others who regularly post updates. Can't wait for the hotel to get above viaduct level.

Julien · #**779** Posted **Apr 7, 2024, 9:27 PM**

A little from Turner view of the rising.

I wish this "Detroit" dilapidation would get some Yards attention. It may take a couple of years just to get the permits to cut down all the trees on the roof.

smArTaLlone · #**780** Posted **Apr 8, 2024, 4:35 AM**

I didn't see this mentioned here but in an AJC interview with Tony Ressler he mentioned that the entertainment district will include a 5,000 seat venue.

https://www.ajc.com/news/business/re...EKEXPF5WONYTQ/

Quote:

A plaza where fans can gather of course is of great value, but so is a 5,000-seat arena and so is a whole bunch of restaurants and bars and 4,000 to 5,000 apartments. All of that is bringing life and excitement to downtown.”

Quote:

You now have a stadium for 75,000 people, a stadium for 17,000 people and a stadium for 5,000 people. You’ll have an aquarium, a convention center, all sorts of bars, restaurants, clubs, activities and yet still have remarkable access to the MARTA station, to the airport and to colleges. The location is extraordinary, and we’re now combining it with all sorts of additional activities and life.