ATLANTA | Development Thread VI - Page 23

jwbab · #**441** Posted **Sep 30, 2016, 9:52 PM**

Quote:

Originally Posted by Pemgin

Not to throw a wet blanket on this news, but this doesn't seem like construction is imminent. Seems like it's going to be a trailer or something that will simply go away if funding falls through or not enough units are sold.

I agree. It probably won't take long to get approval to put their temporary sales building up. Whether the project actually goes forward will depend on if the condos actually sell.

I am very curious to see how strong the luxury condo market really is in Atlanta. It is about to be tested with more new inventory than we have seen in a while, so we will soon find out. One Museum Place still has not sold out as far as I know. I think Emerson is pre-selling now. There is also the Charles in Buckhead and SLS Hotel nearby in Midtown planning to sell luxury level condos.

testarossa50 · #**442** Posted **Oct 2, 2016, 12:37 AM**

Yuck, really wish the Citizen's Trust Bank sign weren't going off the building downtown.

Atlanta3000 · #**443** Posted **Oct 3, 2016, 1:46 PM**

Quote:

Originally Posted by Pemgin

Not to throw a wet blanket on this news, but this doesn't seem like construction is imminent. Seems like it's going to be a trailer or something that will simply go away if funding falls through or not enough units are sold.

This is not necessarily correct. The developer in their latest announcement in July stated they plan to begin construction this fall. Additionally, they have lined up investors from the US, Israel, Middle East and Australia. Therefore, they could begin construction before having any pre-sales. Given the size and scope of the project and even in the best of the condo markets, any developer would be hard pressed to get prospective buyers to put up 20%+ when the project won't deliver deliver for 2.5 - 3 years.

I see this as being very positive.

Atlanta3000 · #**444** Posted **Oct 3, 2016, 1:54 PM**

Anthem eyes Midtown for technology center, will create more than 1,000 jobs

Not sure why the Atlanta Business Chronicle is stating Midtown when the Bank of America Plaza is technically in Downtown Atlanta. Nonetheless, this is another huge win for in town and will continue to underpin the current residential development in Midtown and hopefully will spur Downtown's planned projects.

Quote:

The Indianapolis-based Fortune 50 health insurance firm is eyeing at least three floors in Bank of America Plaza, the city’s tallest skyscraper.

Quote:

The Atlanta technology center, which could create "several thousand" jobs over time, is one of multiple hubs Anthem is said to planning around the country, according to a source. The Georgia Department of Economic Development is said to be working on landing the project.

http://www.bizjournals.com/atlanta/n...gy-center.html

Keys · #**445** Posted **Oct 3, 2016, 2:24 PM**

Quote:

Originally Posted by ATLSkyPalaceOwner

Anyone know what this is about?
Toss the confetti!

We've got some exciting news to share with you. Join us for a special pop-up celebration next week to find out more.

Mark your calendar.
When: Tuesday, Oct. 4th from 4 to 4:30 p.m.
Where: 10th Street Park, located at the corner of 10th and Peachtree Streets

I think it could possibly be related to this news:
Midtown has been named to the American Planning Association’s (APA) 2016 list of Great Places in America. Midtown Atlanta is one of only five neighborhoods nationally to receive this honor.

http://www.midtownatl.com/about/great-place

GeorgiaPeanuts · #**446** Posted **Oct 3, 2016, 2:27 PM**

Quote:

Originally Posted by Atlanta3000

Anthem eyes Midtown for technology center, will create more than 1,000 jobs

Not sure why the Atlanta Business Chronicle is stating Midtown when the Bank of America Plaza is technically in Downtown Atlanta. Nonetheless, this is another huge win for in town and will continue to underpin the current residential development in Midtown and hopefully will spur Downtown's planned projects.

http://www.bizjournals.com/atlanta/n...gy-center.html

I think BoA is in the Midtown CID though. Honestly makes more sense for the downtown connector to be the separator between Downtown and Midtown.

DNR · #**447** Posted **Oct 3, 2016, 2:38 PM**

https://www.planning.org/greatplaces...idtownatlanta/

GeorgiaPeanuts · #**448** Posted **Oct 3, 2016, 3:50 PM**

Piedmont Hospital filed for demo and land development for the corner of Peachtree and Collier.

Ant131531 · #**449** Posted **Oct 3, 2016, 5:12 PM**

Does anyone know if Hanover Peachtree has all of their permits yet because it's taking a long time for it to break ground. In a market where apartments are starting to get oversaturated, you'd think developers would be quick to get started on projects once they have their necessary permits.

ATLSkyPalaceOwner · #**450** Posted **Oct 3, 2016, 5:14 PM**

Quote:

Originally Posted by Ant131531

Does anyone know if Hanover Peachtree has all of their permits yet because it's taking a long time for it to break ground. In a market where apartments are starting to get oversaturated, you'd think developers would be quick to get started on projects once they have their necessary permits.

A while ago they said they wanted to break ground in August.

I honestly don't think there's ever been an initial "break ground" date that hasn't passed by with no activity.

Atlanta3000 · #**451** Posted **Oct 3, 2016, 5:36 PM**

Quote:

Originally Posted by Ant131531

Does anyone know if Hanover Peachtree has all of their permits yet because it's taking a long time for it to break ground. In a market where apartments are starting to get oversaturated, you'd think developers would be quick to get started on projects once they have their necessary permits.

I am curious where you are getting your information that the Atlanta apartment market is over saturated?

Just last month Atlanta had the 3rd highest rent growth in the country. Also, Atlanta's MSA apartment growth is well under it's historical 20 year average. Not to mention, single family home development is 40%+ under it's historical average. People have to have somewhere to live if they have a job.

Net, net - Buckhead and Midtown are seeing a significant volume of apartment units being developed - granted, but if you look at where job growth is occurring (Buckhead and Midtown) and view historical averages, the market seems to foretell future apartment development for sometime.

Ant131531 · #**452** Posted **Oct 3, 2016, 5:44 PM**

Quote:

Originally Posted by Atlanta3000

I am curious where you are getting your information that the Atlanta apartment market is over saturated?

Just last month Atlanta had the 3rd highest rent growth in the country. Also, Atlanta's MSA apartment growth is well under it's historical 20 year average. Not to mention, single family homes development is 40%+ under it's historical average. People have to have somewhere to live if they have a job.

Net, net - Buckhead and Midtown are seeing a significant volume of apartment units being developed - granted, but if you look at where job growth is occurring (Buckhead and Midtown) and view historical averages, the market seems to foretell future apartment development for sometime.

I'm talking specifically Midtown. About 1000 apartment units are recently or about to be completed and there are still over 4,000 currently U/C. Then about another 3 or 4 thousand proposed. It's a lot of apartments. 2 years from now, it will be saturated which is when a project like Hanover would be completed.

jsvh · #**453** Posted **Oct 3, 2016, 6:08 PM**

Quote:

Originally Posted by Ant131531

I'm talking specifically Midtown. About 1000 apartment units are recently or about to be completed and there are still over 4,000 currently U/C. Then about another 3 or 4 thousand proposed. It's a lot of apartments. 2 years from now, it will be saturated which is when a project like Hanover would be completed.

But jobs are dropping into Midtown a thousand or two at a time too.

Atlanta3000 · #**454** Posted **Oct 3, 2016, 6:39 PM**

Quote:

Originally Posted by jsvh

But jobs are dropping into Midtown a thousand or two at a time too.

And the thousands of jobs haven't even began to "drop" in Midtown and prices are rising and vacancies are at historical lows.

It baffles me why some people argue/debate when presented facts.

MdtwnATL · #**455** Posted **Oct 3, 2016, 7:12 PM**

Quote:

Originally Posted by Atlanta3000

And the thousands of jobs haven't even began to "drop" in Midtown and prices are rising and vacancies are at historical lows.

It baffles me why some people argue/debate when presented facts.

You don't think the 6,000 jobs about to "drop" into NCR headquarters is going to bring a demand for apartments? That's ONE company relo. Not to mention the general influx of new residents into the immediate area. I think the developers probably know what they're doing since they have $$ at stake.

Frankster87 · #**456** Posted **Oct 3, 2016, 7:36 PM**

Quote:

Originally Posted by MdtwnATL

You don't think the 6,000 jobs about to "drop" into NCR headquarters is going to bring a demand for apartments? That's ONE company relo. Not to mention the general influx of new residents into the immediate area. I think the developers probably know what they're doing since they have $$ at stake.

I think you guys are arguing for the same side. He's saying that demand is up, inventory is low, and prices are increasing... and that has all been without many of the recently announced jobs "dropping" yet.

One can imagine, that once many of these jobs actually come online, Midtown's growth will be pushed to warp speed!

Atlanta3000 · #**457** Posted **Oct 3, 2016, 8:01 PM**

Quote:

Originally Posted by GeorgiaPeanuts

Piedmont Hospital filed for demo and land development for the corner of Peachtree and Collier.

Amen. Piedmont Hospital in Buckhead is 3rd World compared to healthcare facilities throughout Atlanta. You would think by 2016 every hospital would have touchless sinks and urinals - not here.

Furthermore, I was at the Georgia World Congress Center a couple of weeks ago and the bathrooms their smelled like a f'en farm. I know they have their eyes on expansion, but I would suggest they "clean up" what they already have before taking on more.

DWNTWN · #**458** Posted **Oct 3, 2016, 10:44 PM**

NCR & Modera from the Connector. Modera has around 10 more floors to go, and with NCR being a similar finished height the connector could start to have a canyon like feel, or at least cliff side.

Street Advocate · #**459** Posted **Oct 4, 2016, 1:19 AM**

Quote:

Originally Posted by DWNTWN

NCR & Modera from the Connector. Modera has around 10 more floors to go, and with NCR being a similar finished height the connector could start to have a canyon like feel, or at least cliff side.

Whoah, Modera has ten more floors to go?!? It's already higher than SQ5, so anhrhjtn else will be awesome.

While on Techwood earlier I couldn't help but notice how much space is seemingly vacant between 10th and 14th along Spring, Williams, and W. Peachtree. With all the other development, it's becoming quite noticeable.

Post Millenium is installing glass and it looks really good so far. Will have to try and get a pic soon.

Azure has a lot of pics up on Facebook of inside units and the view from the rooftop pool!

Street Advocate · #**460** Posted **Oct 4, 2016, 1:22 AM**