ATLANTA | 1138 Peachtree Street | 700 FT / 213 M | 54 FLOORS

[ATLskyline]

Redesign. New rendering. Looks awesome.

[Free]

I am disgustedly excited. (In a good way)

[jaga185]

It does look awesome, love the redesign.

[James2390]

This is a beautiful design! I like it a lot better than the last one.

If this gets built, it will add to one of the best clusters of modern skyscrapers in the country...Promenade II, 1180 Peachtree, One Atlantic Center, and Four Seasons. Midtown has it goin on!

[Mojava]

great building...

the proposed mandarin chicago has the logo at the top of the building as well. wonder if this is going to be a standard for future MO projects.

[oftrue]

Originally Posted by oldpainless

We never knew how good we had it back in 1992. Ahh the good old days.
Could it be safe to say that Atlanta has entered a slump in terms of tall buildings? Sure we can snag 400' - 500' er's all day long, but it seems increasingly rare for us to see anything in the rarified 600'+ range. Sovereign is the exception.
Its been 16 years since 1992. Have the best days of Atlanta already passed us by?

Absolutely not, remember Atlanta is relatively still young and establishing it's own original identity. Atlanta is known for it's business savy and the ability to pioneer. I truly believe Atlanta will chart the course for a new way of doing business with new inventions and concepts. The timing is just truly ripe for a new way of doing things. I believe Atlanta tower will truly get taller, as international developers increase their attention on Atlanta.

[Labtec]

Originally Posted by ATLskyline

Redesign. New rendering. Looks awesome.

looks awesome, crossing my fingers.

[kingkool]

Originally Posted by James2390

This is a beautiful design! I like it a lot better than the last one.

If this gets built, it will add to one of the best clusters of modern skyscrapers in the country...Promenade II, 1180 Peachtree, One Atlantic Center, and Four Seasons. Midtown has it goin on!

dont forget the (albeit smaller) campanile, 1010 peachtree and phase 2, as well as phase 3 which may or may not be completed depending on the exact timeline. plus the new colony square (although still not modern per se)... anyone have any idea what will happen to the symphony hall property if the symphony hall officially moves?

really hope MO gets built.

http://atlanta.bizjournals.com/atlan...wscolumn1.html

[lawfin]

Originally Posted by Mojava

great building...

the proposed mandarin chicago has the logo at the top of the building as well. wonder if this is going to be a standard for future MO projects.

Unfortunetley in this environment even what looked like a sure bet here in chicago is very definitley in limbo....wouldn't be surprised to see it cancelled

good luck to it in Atlanta but I woild not get my hope too high

[Ersh]

The redesign looks awesome!!! Very classy and sharp! Looks very New York to me.

[tdawg]

Tivoli seems very committed to this project. Hopefully they can pull it off.

[SteveD]

Looks great! Hope it gets built.

[spyguy]

The redesign looks quite nice.

[hartss]

http://www.hospitalitynet.org/news/1...7/4038703.html

Mandarin Oriental Hotel Group Plans New Hotel And Residences In Atlanta, USA

Hong Kong | Mandarin Oriental Hotel Group today announced that it has signed a long-term management contract to manage a luxurious new hotel and branded residences, to be developed in Atlanta, the capital city of Georgia, USA. This stylish and contemporary project is currently scheduled to open in 2011.

Mandarin Oriental, Atlanta and The Residences will form an integral part of a planned 53-storey mixed-use development to be located at 1138 Peachtree on the emerging "Midtown Mile" in the heart of the Arts district, close to the city's finest shopping, dining, business and cultural venues. The project is designed to be amongst the tallest structures in Atlanta, featuring a soaring glass façade with panoramic views over the historic Piedmont Park and the surrounding metropolitan areas.

A showcase of elegant, contemporary design, the hotel plans to feature 198 guestrooms, including 35 suites, evoking Atlanta's southern charm and the subtle mystique of the Orient through refined interiors and artwork. Guestrooms are being designed to be amongst the largest in the city, featuring state-of-the-art entertainment and customer-centric technology systems, a hallmark of Mandarin Oriental hotels worldwide.

A Spa at Mandarin Oriental is also planned, featuring the most comprehensive range of holistic wellness, beauty and massage treatments in the city, with signature programmes created exclusively by Mandarin Oriental. As with all Mandarin Oriental spas, the 22,000-square-foot space will include private treatment rooms, significant water and heat therapies, as well as a pampering beauty salon and a Mandarin Barber. Fully-equipped fitness facilities will be complemented by dedicated Pilates and yoga studios, as well as a large outdoor swimming pool and deck, complete with spa cuisine available for poolside refreshment.

Four creative dining and cocktail venues, elegant function space and gourmet catering will form part of the comprehensive facilities designed to make Mandarin Oriental, Atlanta a fitting venue for memorable social occasions and important meetings and conferences.

The project has been designed to feature 71 luxury living spaces on the building's top floors which will be branded as The Residences at Mandarin Oriental, Atlanta. As with all Mandarin Oriental Residences, owners of the private homes will enjoy access to all the special services and amenities offered by the hotel, including concierge services, room service, catering, housekeeping, valet services and more.

The project is being developed by Tivoli Properties, Inc., an Atlanta-based private real estate investment and development group with extensive commercial and residential development experience. The renowned Atlanta firm of Smallwood, Reynolds, Stewart, Stewart and Associates has been commissioned as architects, with the hotel interior design by Hirsch Bedner Associates.

"Mandarin Oriental is delighted to have been selected by the owners and developers of this exciting project, and look forward to the opportunity of extending our luxury brand into one of America's fastest-growing cities," said Edouard Ettedgui, Group Chief Executive of Mandarin Oriental.

"This exclusive project will raise the bar for hospitality and luxury living in this region," said Scott L. Leventhal, President and Chief Executive Officer of Tivoli Properties, Inc. "We are delighted to be working with Mandarin Oriental on this unique hotel and residential offering on the vibrant Midtown Mile."

The project will be located 20 minutes from the Atlanta Hartsfield-Jackson International Airport in the lively 'Midtown' district, which has the largest concentration of cultural attractions in the region, and is home to 30 different arts and cultural venues, includingRichard Meier's High Museum and the future Atlanta Symphony Center. From its desirable and convenient address, the hotel will offer myriad attractions for both leisure and business travellers alike.

[ls1z28chris]

Originally Posted by hartss

http://www.hospitalitynet.org/news/1...7/4038703.html

Mandarin Oriental Hotel Group Plans New Hotel And Residences In Atlanta, USA

Hong Kong | Mandarin Oriental Hotel Group today announced that it has signed a long-term management contract to manage a luxurious new hotel and branded residences, to be developed in Atlanta, the capital city of Georgia, USA. This stylish and contemporary project is currently scheduled to open in 2011.

Mandarin Oriental, Atlanta and The Residences will form an integral part of a planned 53-storey mixed-use development to be located at 1138 Peachtree on the emerging "Midtown Mile" in the heart of the Arts district, close to the city's finest shopping, dining, business and cultural venues. The project is designed to be amongst the tallest structures in Atlanta, featuring a soaring glass façade with panoramic views over the historic Piedmont Park and the surrounding metropolitan areas.

A showcase of elegant, contemporary design, the hotel plans to feature 198 guestrooms, including 35 suites, evoking Atlanta's southern charm and the subtle mystique of the Orient through refined interiors and artwork. Guestrooms are being designed to be amongst the largest in the city, featuring state-of-the-art entertainment and customer-centric technology systems, a hallmark of Mandarin Oriental hotels worldwide.

A Spa at Mandarin Oriental is also planned, featuring the most comprehensive range of holistic wellness, beauty and massage treatments in the city, with signature programmes created exclusively by Mandarin Oriental. As with all Mandarin Oriental spas, the 22,000-square-foot space will include private treatment rooms, significant water and heat therapies, as well as a pampering beauty salon and a Mandarin Barber. Fully-equipped fitness facilities will be complemented by dedicated Pilates and yoga studios, as well as a large outdoor swimming pool and deck, complete with spa cuisine available for poolside refreshment.

Four creative dining and cocktail venues, elegant function space and gourmet catering will form part of the comprehensive facilities designed to make Mandarin Oriental, Atlanta a fitting venue for memorable social occasions and important meetings and conferences.

The project has been designed to feature 71 luxury living spaces on the building's top floors which will be branded as The Residences at Mandarin Oriental, Atlanta. As with all Mandarin Oriental Residences, owners of the private homes will enjoy access to all the special services and amenities offered by the hotel, including concierge services, room service, catering, housekeeping, valet services and more.

The project is being developed by Tivoli Properties, Inc., an Atlanta-based private real estate investment and development group with extensive commercial and residential development experience. The renowned Atlanta firm of Smallwood, Reynolds, Stewart, Stewart and Associates has been commissioned as architects, with the hotel interior design by Hirsch Bedner Associates.

"Mandarin Oriental is delighted to have been selected by the owners and developers of this exciting project, and look forward to the opportunity of extending our luxury brand into one of America's fastest-growing cities," said Edouard Ettedgui, Group Chief Executive of Mandarin Oriental.

"This exclusive project will raise the bar for hospitality and luxury living in this region," said Scott L. Leventhal, President and Chief Executive Officer of Tivoli Properties, Inc. "We are delighted to be working with Mandarin Oriental on this unique hotel and residential offering on the vibrant Midtown Mile."

The project will be located 20 minutes from the Atlanta Hartsfield-Jackson International Airport in the lively 'Midtown' district, which has the largest concentration of cultural attractions in the region, and is home to 30 different arts and cultural venues, includingRichard Meier's High Museum and the future Atlanta Symphony Center. From its desirable and convenient address, the hotel will offer myriad attractions for both leisure and business travellers alike.

Wow. This looks like good news.

[midtownfan]

To bad Tivoli has zero expertise in hotel development, sure would have liked to see this one materialize. Hopefully these condos will not turn into a rental building like Mezzo.....

[1lifealex]

Any new news yet?

[Texas Tuff]

Wow, that's a great looking redesign! I liked the old design as well, but I like this one better.

[PhxPavilion]

Very slick, I like it alot.

[tdawg]

Tivoli revives plan for new Midtown hotel

Developer Tivoli Properties Inc. is working to resurrect its 1138 Peachtree project in Midtown, once the proposed site of a ritzy Mandarin Oriental Hotel.

Tivoli Properties President Scott Leventhal confirmed to Atlanta Business Chronicle Oct. 13 his company continues to pursue developing the property.

“Quit is not in my vocabulary,” Leventhal said. “We don’t have anything to announce yet, but we continue to work hard to see it come to fruition.”

Representatives of Tivoli Properties, including an attorney with Seyfarth Shaw LLP, met with the Development Authority of Fulton County Aug. 31 to ask for $115 million in bond financing. The bonds would essentially offer a long-term tax abatement on the project. The mixed-use development would include a hotel and stores.

The Development Authority granted a letter of inducement for the bonds. Generally, projects that come before the authority and receive a vote of confidence have a bona fide chance to move forward, local bond attorneys said.

Tivoli has additional equity to support the project, Leventhal confirmed . He would not comment on his equity partners, but said he believes the capital markets are improving enough that the project has a true second chance.

“There is a significant amount of capital that is finding its way back into the real estate industry,” he said. “The capital is not looking for development projects at this time but it’s only natural that the capital sources will lose patience with distressed [property acquisition] opportunities. And, when they do, development will reignite.”

The project faces huge obstacles, including the uncertainty surrounding the economic recovery, an already competitive landscape for luxury hotels in Midtown that includes the well-established Four Seasons on 14th Street, and a lack of confidence among investors that a sustained commercial real estate rebound is under way.

Tivoli does not have a hotel operator in mind, Leventhal said.

Any hotel project “is not for the meek and mild,” said Paul Breslin, managing partner of Panther Hospitality, a consulting group.

Even the right product in the right location “will be very challenging,” he said.

Leventhal said, “This project depends on job growth. We are going to be patient.”

Tivoli’s request of the development authority comes eight months after First Citizens Bank & Trust Co., a South Carolina bank, foreclosed on the site for the 53-story Mandarin Oriental Hotel, a project that was conceived near the end of the real estate boom that reached its apex between 2005 and 2007, a period defined by easy credit and unbridled optimism.

Tivoli’s earlier, $285 million mixed-use project had been slated for 1138 Peachtree St., a parking lot between 13th and 14th streets, one of the busiest sections of the Midtown district. The project was supposed to be a jewel along the proposed Midtown Mile, envisioned as more than 1 million square feet of street-level retail spanning 14 blocks between The Fox Theatre and the Woodruff Arts Center.

“This would be another big win for Midtown and an encouraging sign that development is ramping up,” said Susan Mendheim, president and CEO of the Midtown Alliance, in an e-mail to Atlanta Business Chronicle. “The 1138 Peachtree location is prime for another quality, mixed-use high-rise. It has the potential to be a new icon for Midtown and Atlanta’s skyline, and we’re certainly excited to hear more about plans for it.”

Tivoli’s project comes as a potential rival gains some momentum across from The High Museum of Art.

Alvin D. Jones, president and CEO of Alvin James Group, plans to build a $350 million, 250-room luxury hotel in the 1300 block of Peachtree Street.

The proposed five-star hotel project would include 100 condominium units.

James said he got a funding commitment for the project Oct. 12, which will allow him to close on the land soon.

“I have an Asian investment group providing the funding for the land acquisition and the development,” he said.

A hotel project started today wouldn’t be complete for three years “so that’s not bad timing,” Breslin said, and might bode better for a project.

“The Atlanta market is still strong for the long haul,” he said. “We may be a little over capacity for the short haul.”

But for the market to support a luxury hotel development in Midtown “one needs to be comfortable with what both the business cycle will be in three years, and where we will be on the property cycle,” said Mark Woodworth, president of Colliers-PKF Hospitality Research, a research and consulting firm in Atlanta.

The business cycle is demand for hotel rooms, and the property cycle is the economics of building new product, he said.

Both nationally and in Atlanta, the hotel industry has reached bottom, Woodworth said, “and we have begun the process of moving down the road to recovery.”

But Woodworth believes this recovery will be a long one.

The nation, and Atlanta, had a strong first half of the year for demand, he said, and preliminary numbers for the third quarter look good.

When demand grows, hotel managers and owners are able to increase room rates “and we’re just beginning that part now,” Woodworth said.

But on the property side, many hotel owners continue to find themselves in difficult straits, he said, when it comes to generating enough cash to pay mortgages.

“Strategic default is becoming more prevalent in the industry,” he said.

The W Atlanta-Downtown Hotel & Residences entered the foreclosure process Oct. 5 and The Mansion on Peachtree was foreclosed upon in February. Both properties remain in operation.

“The market value of the vast majority of hotels today are significantly below their replacement costs,” Woodworth said. “If I can buy a hotel at a price that is well below the cost to build, I’m not going to build.”

The buying and selling of hotels has to begin in earnest before property values increase and it makes more sense to build new product, he said.

“Will the market values in Midtown Atlanta be equal to replacement costs [in three years]?” Woodworth said. “I don’t know.”