ATLANTA | Development Thread VI

[atlwarrior]

I think Atlanta will be close to 7 million before the next census. I am so amaze at all these major project announcements that just keep coming.

[Atlanta3000]

Originally Posted by jsvh

Mixed use.

Edit: And my project is hardly the first or only one in the area. This one is larger and will deliver ahead of mine: https://atlanta.curbed.com/2017/7/13...ng-kiser-lofts

Point is, resurgence of this area is hardly dependant on the Gulch. In fact, they are late to the party. Lots of smaller projects are what turns the tide, not one mega project. Heck, no place in the city has suffered from high dollar mega projects more than downtown.

Just so we are on the same page, my comments and opinions are focused on Retail. I 100% agree downtown can support residential developments. With regard to the Newport development, the pictures they released illustrated several low-rise low-density street level retail buildings. It is my opinion this type of retail is not economically feasible anymore.

Prior to moving to Atlanta, I lived in Arlington, VA across The Key bridge from Georgetown. I was up there last week and noticed a new development across from my townhouse. This is the type of development I envision being successful in Downtown.

http://www.ballstonquarter.com/#gallery

[jsvh]

Originally Posted by Atlanta3000

Just so we are on the same page, my comments and opinions are focused on Retail.

But all of these project are mixed use. If you want to talk about development in South Downtown we should be on the same page of mixed use. Not retail only.

[scania]

Originally Posted by jsvh

I am surprised we have not seen a proposal to redevelop the Home Depot / Whole Foods strip mall across the street from PCM yet. Depending on how long this cylce lasts it may not break ground, but the numbers got to be getting to a point where it makes sense to redevelop that site.

I actually agree with you 100%. Revamping the area would be on another level if this could be redeveloped and some kind of way connected to the beltline...this would be a huge game changer. I might be wrong but I believe the back of Two Urban Licks where it meets the Beltline is very close to there.

[GeorgiaPeanuts]

Some new Beltline presentations:

They are starting to work on the NorthEast Trail: https://beltlineorg-wpengine.netdna-...ail-Update.pdf

Highlights:
*It will be federally funded
*Goal is for design within 2 years
*Will find active/passive uses for GeorgiaPower Maintenance pads


Westside Trail Update: https://beltlineorg-wpengine.netdna-...ion-Update.pdf

*It appears it is illegal for adjacent residential property owners to have direct access to Beltline without getting an easement. They are required to maintain specific fencing per the slide.
*Westside Trail will have Atlanta's first off-grid structure (an Urban Farm shed)

[Atlanta3000]

Originally Posted by jsvh

But all of these project are mixed use. If you want to talk about development in South Downtown we should be on the same page of mixed use. Not retail only.

Not to labor the point further, but in my mind the issue is SCALE and DENSITY and the reason this important is because retail sales tax is what drives the economics of the city. Therefore it is very important the COA focus on supporting and funding large scale retail/mixed-use developments in the city. Not to say neighborhood retail is not important, but the end of the day those establishments will never help the city fund transportation projects, parks, improve schools...etc. Also, just about every new mixed-use project in the city is being funded by greatly reduced property taxes to the developer. Net, net - retail is very important issue for all of us.

[jwbab]

Portman Holdings is presenting a New multi-tower mixed use project at 740 West Peachtree on the Midtown DRC Agenda for next week. This is the block just south of CODA.

http://www.midtownatl.com/_files/doc...a-07-18-17.pdf

New construction consisting of two phases across two mixed-use towers, with 610,487 SF of office, 9,476 SF retail /commercial, 5,500 SF bank and and 140 residential units. 1,039 parking spaces will be provided in a shared parking deck for the development. The developer is Portman Holdings.

[GeorgiaPeanuts]

Originally Posted by jwbab

Portman Holdings is presenting a New multi-tower mixed use project at 740 West Peachtree on the Midtown DRC Agenda for next week. This is the block just south of CODA.

http://www.midtownatl.com/_files/doc...a-07-18-17.pdf

1039 parking space... Oh vey. Does this consume the whole lot including the existing deck, or is it just the right side of that block?

[jsvh]

Originally Posted by Atlanta3000

Not to labor the point further, but in my mind the issue is SCALE and DENSITY and the reason this important is because retail sales tax is what drives the economics of the city. Therefore it is very important the COA focus on supporting and funding large scale retail/mixed-use developments in the city. Not to say neighborhood retail is not important, but the end of the day those establishments will never help the city fund transportation projects, parks, improve schools...etc. Also, just about every new mixed-use project in the city is being funded by greatly reduced property taxes to the developer. Net, net - retail is very important issue for all of us.

Not buying it. Intown Atlanta and especially Downtown spent decades trying mega project after mega project while pushing out neighborhood retail. Peachtree Center, CNN Center, Underground Atlanta, etc. Those did not jump start downtown and neither will the Gulch Redevelopment (alone). What is needed neighborhood scale mixed use like Newport and others are doing.

[jwbab]

Originally Posted by GeorgiaPeanuts

1039 parking space... Oh vey. Does this consume the whole lot including the existing deck, or is it just the right side of that block?

I don't know the specific footprint at this point. Based on the numbers quoted in the DRC agenda, the total square footage (including the 140 residential units) would be greater than CODA. With two towers, that would have to take up at least half the block.

I hope they put all parking underground like they have done with CODA.

Comparisons with other similar projects

CODA
620,000 sf Office
100,000 sf Data Center
46,500 sf Retail
600 Parking Spaces

740 West Peachtree
610,487 sf Office
14,976 sf Retail (includes the bank)
140 Residential Units
1,039 Parking Spaces

1105 West Peachtree
659,062 sf Office
14,174 sf Retail
67 Residential Units
153 Hotel Rooms
1,480 Parking Spaces

Looking at these numbers, 740 West Peachtree is remarkably similar in scope to Selig's 1105 West Peachtree.

[Ant131531]

Two towers, but one will probably be office and the other residential. If the tower is somewhat slender, that could easily be over 500 feet...will be interesting.

[Street Advocate]

A lot of parking and seemingly little bit of retail... still excited to see the proposal nonetheless! Really hoping these mixed use developments containing offices in Midtown get off the ground. We need more options to live and work in the core of the city and these are great projects that will support the lifestyle.

[arjay57]

Originally Posted by Atlanta3000

Not to labor the point further, but in my mind the issue is SCALE and DENSITY and the reason this important is because retail sales tax is what drives the economics of the city. Therefore it is very important the COA focus on supporting and funding large scale retail/mixed-use developments in the city. Not to say neighborhood retail is not important, but the end of the day those establishments will never help the city fund transportation projects, parks, improve schools...etc. Also, just about every new mixed-use project in the city is being funded by greatly reduced property taxes to the developer. Net, net - retail is very important issue for all of us.

It varies by neighborhood and even by project, but on the whole the city pulls in a good bit more money from property taxes than from sales taxes. Licenses and permits bring in a nice chunk of change, too.

[Street Advocate]

Originally Posted by scania

I actually agree with you 100%. Revamping the area would be on another level if this could be redeveloped and some kind of way connected to the beltline...this would be a huge game changer. I might be wrong but I believe the back of Two Urban Licks where it meets the Beltline is very close to there.

You have a source or is this just a gut feeling? While I think Angier Springs to Telephone Lofts is a prime location for development, they're building out more in the warehouse right now for a brewpub. I could see the USPS parcel or entire surface area being developed before the actual warehouse is redeveloped.

That said, I want to see that entire area, the O4W Georgia Power parcel, Virginia Highland Georgia Power parcel, Midtown Place, and Midtown Promenade strip malls redeveloped. As much development as there's been along the EST, the true urban experience seems to be developing in other neighborhoods of Atlanta and a lot of the EST of disjointed pockets of urbanism. Virginia Highland particularly is about to be left behind, only benefiting from adjacent neighborhood developments due to its proximity along the EST and next to Piedmont Park.

[montydawg]

I heard a rumor that (750 Ralph McGill) the small lot next to Ga-Power and Vekmans, is being considered for a 200ft condo tower, with 1500sq ft units, targeted between 750 and 900k. This coincides with a recent zoning request for that lot. I hope the NIMBY's don't latch on to this. I think the tax referendum providing funding for the beltline transit will spur a lot of new much denser development along the EST. I'll be waiting for the GA Power, Sunbelt Rentals, and Whole Foods/Home Depot shopping centers to bite the dust soon.

[Street Advocate]

Originally Posted by montydawg

I heard a rumor that (750 Ralph McGill) the small lot next to Ga-Power and Vekmans, is being considered for a 200ft condo tower, with 1500sq ft units, targeted between 750 and 900k. This coincides with a recent zoning request for that lot. I hope the NIMBY's don't latch on to this. I think the tax referendum providing funding for the beltline transit will spur a lot of new much denser development along the EST. I'll be waiting for the GA Power, Sunbelt Rentals, and Whole Foods/Home Depot shopping centers to bite the dust soon.

I was going to say I just saw the zoning change and was really hoping we'd see a lot more density, particularly condos, brought to the area. 750-900k for a condo though...

[Ant131531]

200 feet condo tower for the area is kind of tall...definitely think it will be a contentious and controversial proposal if the rumor turns out to be true.

[montydawg]

Originally Posted by Ant131531

200 feet condo tower for the area is kind of tall...definitely think it will be a contentious and controversial proposal if the rumor turns out to be true.

200ft is consistent with the three towers proposed at PCM and the Kroger development.

[Street Advocate]

Originally Posted by Ant131531

200 feet condo tower for the area is kind of tall...definitely think it will be a contentious and controversial proposal if the rumor turns out to be true.

~18 stories in O4W will be interesting to follow community reaction. We definitely need more density in general for the area. This would be new ground for the community with high rises anywhere other than adjacent PCM.

[Street Advocate]

336 unit apartments @ 377 centennial Olympic drive looking to break ground October/November

https://www.bisnow.com/atlanta/news/...-project-76592