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Old October 22nd, 2011, 11:33 PM   #1
desertpunk
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ATLANTA | 285 Marrietta | 106m | 350ft | 24 fl | Pro



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Quote:
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Atlanta Business News 3:42 p.m. Friday, October 21, 2011

New office project proposed downtown



By Rachel Tobin
The Atlanta Journal-Constitution

Two development companies are proposing a “Times Square South” project near the Georgia Aquarium downtown.

Bob Voyles’ Seven Oaks Company and David Marvin’s Legacy Property Group want to build a sizable office tower flanked by television screens that would mimic the feel of New York’s Time Square. But until they have a tenant for it, the building will not break ground, Marvin said.

He and Voyles met while working on an expansion plan for Dunwoody event space and restaurant Villa Christina. Voyles brings the office background to the downtown project, Marvin said.

The 350,000 square foot building would rise at 285 Marietta, in the Lucky Marietta District that Marvin has been developing for more than a decade. The estimated project cost for the new building, plus an addition to a hotel, would be $150 million, he said.

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Old September 12th, 2014, 02:58 AM   #2
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Official: That 'Times Square South' Proposal is Still Alive!



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Even after nearly three years, plans to bring "Times Square South" to downtown Atlanta remain alive and well, for the most part. In October 2011, Seven Oaks Company and Legacy Property Group announced their dreams of building a retail and office tower with huge electronic billboards at 285 Marietta St., a property across the street from the soon-to-open College Football Hall of Fame that's currently being used for auxiliary parking at a nearby hotel. While that announcement has long since faded from headlines, Seven Oaks' Bob Voyles says the project still has life. "The financing and capital markets for commercial office buildings right now are such that they need to have a pretty substantial pre-lease in order for a building like this to go forward," Voyles told Curbed Atlanta. "We're out actively talking to people but we don't have any signed deals for the space."

Voyles declined to spill the beans as far as potential occupants he's spoken with. He did say that his team is generally focused on "entertainment-oriented tenants," using local mega-companies Turner and CNN as examples. The developer also said that, despite the already lengthy time lapse, three things are working in the project's favor: a stellar design concept, a patient owner and a "market that's continuing to move in our direction." "All of those things bode well," Voyles said, "but it would not be prudent to go forward with the construction of a project until you've taken some of the element of risk out."











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