Atlanta Development News

[simms3]

Atlanta Mega November Construction Update

I took the day off because I have been under the weather, and so I had extra time to take some pictures of construction and other activity going on in Atlanta. This will be the most comprehensive update on Atlanta in years.

Two projects I missed: the CDC Buford Campus tower and the Cox Enterprises towers, both of which have been topped off and are wrapping up.

To start –

Georgia Tech Carbon Neutral Energy Solutions (LEED Platinum)

Full PDF on Project

http://nanopatentsandinnovations.blo...3-million.html





Hank McCamish Pavilion at Georgia Tech

All About Hank McCamish Pavilion Plus Additional Renderings










77 12th Street – 22 Floor Rental Tower as Phase III of 12th and Midtown

Metlife is out and Northwestern Mutual is in as the lender and equity partner. Ground clearing is scheduled either this month or next. Pre-leasing has commenced with 1-bedrooms starting at $1,500 and 2-bedrooms starting at either $2,250 or $2,350.

Juicy Details Straight From Daniel Corp’s Site

















Hilton Midtown Atlanta (Dual Branded Homewood Suites and Hilton Garden Inn)

North Point Hospitality’s project. 226 rooms, 8 floors of hotel above 4 floors of parking, a lobby, and a restaurant.

North Point Hospitality Development











Look at these fall colors!


Emory Pointe (Gables and Cousins, both ATL based)

Official Site – Emory Pointe

From WhatNow Atlanta














Emory Health Science Research Building

4 stories above ground, 200,000 SF, 2-story pedestrian bridge to connect to Children’s Healthcare.

Update and Renderings

More Renderings from Emory Magazine





Site of Jamestown’s Proposed Mid-Rise Infill Rental Tower on Howell Mill

195 units, 250,000+ SF with parking deck, 0.9183 AC (40,000 SF of land area, i.e. SMALL)

New Apartments for Westside



AMLI O4W Apartments Phase II

AMLI is planning another mid-rise apartment complex to go right on North Avenue in front of O4W Park, next to 4th & Swift, and across from Ponce City Market. The article below in the Biz Chron goes on to say that North American Properties is rumored to be in the development mill for the same area (also apartments). If all gets built, that area around the park and the Beltline will be very dense. The article states that their parcel is 4.5 acres, but Fulton Assessor says it is greater than 6 (not that all available land will be built on).

For a comparison, the AMLI development next door, which is 7 floors and has all 2-bedrooms from between $1,566 and $1,880 sits on 3.9 acres.

AMLI Plans Apartments in Fourth Ward



Crews continue to work on the park and the beltline:










New Crate & Barrel and Shops Around Lenox

One of this year’s Development of Excellence Awards (ULI) went to Shops Around Lenox:

2011 Project Winners – Shops Around Lenox

Article on the $34M redevelopment by Healey Weatherholtz Properties (HW Properties):

Shops Around Lenox Gets $35M Overhaul

They are planning similar shops where the McDonalds/Chik Fil A are across from Felini’s on Howell Mill.

AND THEY OWN THIS PROPERTY WITH THIS RENDERING ON PEACHTREE!::


Source: 736 Peachtree

I will be seeing Eric Weatherholtz tomorrow night at a dinner, and while I don’t personally know him I think I’m going to ask him for an update on 736 Peachtree!









ATLANTA BUCKHEAD

Currently the largest project in the city, we all know as much about it as the next guy so no need to go into details.

Atlanta Buckhead Brochure – Official















And hopefully as part of the project, this creepy dead tree comes down!


Village at Buckhead - 365 Pharr Road

373 luxury rentals directly across from Atlanta Buckhead, 5 floors, JLB Partners, their first Atlanta project, likely to be relatively expensive (1-bedrooms may start above $1,600).

Official Project Site







2061 Peachtree Medical Office Towers

Moving Dirt!

http://www.parksidepartners.com/2061-peachtree/





NEW SHOPS AND RESTAURANTS AND BUSINESSES IN MIDTOWN!

1. Bobby Berk Home, still not open



2. The Clothing Warehouse: Classic Vintage, opens Dec 1 in Michael Habachy’s old space in 999 Peachtree.

They have locations in Atlanta, Jacksonville, Savannah, New York, Greenville, and Chapel Hill!



3. Revolution Vintage – Was a pop-up shop in 999 Peachtree in the old Midtown Blue space, has since relocated to Metropolis and has a lease to test the waters until June. Sells Men’s and Women’s clothing and all of those vintage fashionistas walking around Midtown are hangouts/employees there.





4. Café Agora Midtown!



5. OMG I totally forgot the name of this – it’s a small business!

They research brands apparently and act as “truth media?” Hopefully someone can explain this to me. Looks interesting.





6. STKHouse

Almost open!! Other locations in the Meatpacking District of NYC, LA, Miami, and Las Vegas. We are balling out of control with this.



You know where I’ll be taking pictures sometime this week!::




7. Cucina Assellina

Also from The One Group, other location is in Manhattan.



8. M.I.S.T.E.R.

A healing clinic for those who are depressed or having mental difficulties, I think. Looks to be a solid gay outreach center, as well.




UPDATE ON 1010 CONDO SALES…SLOW

[LtBk]

Nice to see Atlanta becoming a more urban orientated city. Too bad it's in state where many politicians hate urban areas. BTW, did that transit referendum passed?

[GunnerJacket]

Originally Posted by LtBk

Nice to see Atlanta becoming a more urban orientated city.

Indeed. Lots of potential and long overdue.

Too bad it's in state where many politicians hate urban areas.

They don't 'hate" urbanism, they simply fear urban scale blight and this is a fiercely private-property rights oriented state. Many outlying counties still don't employ zoning, and we're hard pressed to encourage sustainable development, let alone require it.

Atlanta also needs to resolve its water and sewer woes and come to grips with mass transit if they're ever to produce true urbanity. There's barely enough capacity for the population now, let alone another 200,000 in the urban core.

BTW, did that transit referendum passed?

That's slated for next summer, unless the legislature moves the vote to the same date as the Nov. elections.

[LtBk]

and we're hard pressed to encourage sustainable development, let alone require it.

At least they will suffer a lot in the near future while Atlanta leads the way in sustainable developments.

[desertpunk]

WSJ

DEAL OF THE WEEK | NOVEMBER 16, 2011
Atlanta's Rental Rebound
BY MAURA WEBBER SADOVI


12th and Midtown

Developers are set to break ground next month on an $82 million glass tower in Atlanta's stylish Midtown area in the latest sign that the apartment recovery is breathing some life into the country's troubled construction sector.

The planned 330-unit tower, at 77 12th St., also is the next phase in a massive Atlanta development that was put on hold by the economic downturn.

A venture of Selig Enterprises Inc. and Daniel Corp. broke ground about five years ago on the $2 billion mixed-use project, named 12th & Midtown, which was slated to include nine towers on about 17 acres. But the project stalled after the construction of three towers containing Loews Atlanta Hotel, office space, condominiums and retail stores. The 425 new condominiums remain just half sold and its 725,000 square feet of office space is 65% leased.

Meanwhile, apartment rentals in the area are in short supply. The vacancy rate in Midtown fell to 7.2% in the third quarter from 11.4% in the year-earlier period, according to real-estate research firm Reis Inc. Selig and Daniel put unsold condos on the rental market, and executives said some of them now have a waiting list.

[...]

77 12th St

[GunnerJacket]

Looks handsome. That's the one catty-corner to the Federal Reserve, right? I'm so thankful the newer rental and condo properties are of much higher claibre than those from the early '90s. Easily 3-4 buildings in downtown and midtown that should be razed for their crap exterior.

- - - - - - -

Originally Posted by LtBk

At least they will suffer a lot in the near future while Atlanta leads the way in sustainable developments.

Er, not exactly what we're striving for here, but I get what you're saying. Those of us in a position to help are relying on education and helping the smaller, rural cities nurture a capacity and desire for higher densities. Everyone loves their twon squares, for instance, so if we can help them build up and out from there then hope springs eternal.

[gwiATLeman]

Originally Posted by GunnerJacket

Looks handsome. That's the one catty-corner to the Federal Reserve, right? I'm so thankful the newer rental and condo properties are of much higher claibre than those from the early '90s. Easily 3-4 buildings in downtown and midtown that should be razed for their crap exterior.

No from that angle, the new apartment building will be to the left of the curved condo building.

[desertpunk]

ajc

Atlanta Business News | 9:19 p.m. Tuesday, November 29, 2011

Cousins Properties buys Midtown's Promenade II

By J. Scott Trubey
The Atlanta Journal-Constitution


POromenade II

Cousins Properties, the Atlanta-based real estate firm, has completed its acquisition of Midtown's Promenade II in a move that ranks among the largest office building deals of the year.

Cousins acquired the 38-story Promenade II, which is about 58 percent occupied, for $134.7 million, the company said in a news release. The price per square foot is about $174, according to real estate research firm DataBank Atlanta.

The seller was Boston-based Beacon Capital Partners, which acquired the tower and other U.S. assets this year from Australian real estate firm Charter Hall.

Promenade II, which formerly housed some AT&T offices, rises in the heart of Midtown near Colony Square and the Woodruff Arts Center. Law firms Smith Gambrell & Russell and McGuireWoods are among its largest tenants.

Cousins President and CEO Larry Gellerstedt said in the release that the deal “[furthers] our strategic goal of upgrading the portfolio as we recycle out of older, stabilized assets.”

The acquisition follows the firm's sale of One Georgia Center in Midtown for $48.6 million earlier this year.

[...]

image hosted on flickr

Very classy score!

[lifetimecuriosity]

Hi! Would it be possible for anyone in Sandy Springs/Atlanta to get a pic or two of how the Lifetime Athletic at Roswell Road and I-285 in the Prado mall is progressing? I'd appreciate it very much. Thanks!

[desertpunk]

Perkins+Will Atlanta Office


http://www.eco-structure.com/commerc...or-design.aspx

One of Atlanta's pre-eminent architecture and design firms got the chance to give itself a commission when Perkins + Will decided to purchase the old Invesco building at 1315 Peachtree and renovate it for themselves. The result is a building that is both a showcase for cutting-edge environmentally-friendly technology (like a rainwater harvesting system and solar shades that manage the penetration of the sun to reduce interior heat) and lovely to behold inside and out. By continuing to host the Peachtree branch of the Atlanta Fulton County Library as well as allocating the ground-level retail space for the Museum of Design Atlanta, the building makes an enhanced contribution to the critical mass of culture occurring at the location (sitting across from the High Museum as it does).

curbed http://atlanta.curbed.com/archives/2...-peachtree.php

[gwiATLeman]

Atlanta developer Novare Group and Batson-Cook Development Co. say they are moving forward to break ground on SkyHouse Midtown, a 23-story, 320-unit high-rise apartment building at 12th Street and West Peachtree Street.

Construction will begin immediately and is expected to be completed in December 2012.

Skyhouse to Break Ground - Atlanta Business Chronicle

[Dale]

Great news!

[Jim856796]

The structure near Underground Atlanta that formerly housed the World of Coca-Cola Museum, what's gonna happen to that structure? Will it be torn down for new buildings or converted into something else?

[gwiATLeman]

Originally Posted by Jim856796

The structure near Underground Atlanta that formerly housed the World of Coca-Cola Museum, what's gonna happen to that structure? Will it be torn down for new buildings or converted into something else?

The building was bought by the state of Georgia with the plan of building a State History Museum. Those plans were of course put on hold after the economic downturn. I'm not sure if this is "official" or if the state even still has plans to someday complete the project but here is rendering that appears to show a conversion rather than a total demolishing.

[hotrodtodd]

Nicely done updates, the present economy has certainly resulted in a more pronounced Midtown-north-to-Alpharetta orientation than I have ever seen before, and I am a native of this area. There are so many places around town that are absolutely dying.

[desertpunk]

Curbed

What Will Become of Atlanta's Premier Building Site?
Thursday, January 12, 2012, by Josh Lindenbaum

As Midtown and the areas that immediately surround are leading whatever sort of recovery Atlanta's real estate market is currently experiencing, Please Build Here has been drawn- like moths to the flame- to some of the marquee building sites there, in anticipation of the next round of development. Today we present what is arguably the most valuable piece of dirt (for its size) in the entire City of Atlanta, sitting on Atlanta's grand boulevard (Peachtree) at the entrance of one of Atlanta's grandest neighborhoods (Ansley Park) and across from perhaps Atlanta's grandest architectural specimen (Richard Meier and Renzo Piano's High Museum of Art). But 1301 Peachtree Road NE today exists as little more than a repository for dirt, weeds and rainwater. And were it not for the High using the fencing as a quasi-billboard, the plot would be a genuine eyesore from the street.


One Museum Place

It wasn't supposed to be this way. Atlanta mega-home builder/developer, entrepreneur and art-loving philanthropist John Wieland spent a reported $18.3 million assembling the parcel to build a spectacular condominium project called One Museum Place. Back in the good old days, plans called for the David Chipperfield-designed tower to contain 96 homes with price tags starting at $2 million, a restaurant, a gallery programmed by the High Museum and likely to include works from Wieland's own collection and other amenities geared toward well-heeled buyers. Then the bad times came, and with them an official announcement that the project was on hold.

Two and a half years later, the real estate community was jolted out of its slumber by an announcement that a group helmed by (a very serious looking) broadcasting executive named Alvin James had secured "European hedge fund" financing to purchase the land from Wieland and develop a luxury hotel on the site, with a small number of condominiums on top. Slated to open this spring, the $350 million project retained some vestiges of the original vision, notably an art gallery featuring Wieland's collection and named in his honor.

As evidenced by the photos above (taken last week), the hotel's opening has been delayed, perhaps permanently. We don't know what we don't know, but in spite of a picture of James with Steve Forbes and some very dated pictures of James with people like Donald Trump, Robin Leach and Oprah, the Alvin James Group does not necessarily look like they're going to be able to get this one across the finish line.

[...]

[desertpunk]

Curbed

With the Economics Still in Question, a New Open-Air Falcons Stadium For Downtown Gains Momentum



If you're just waking up to the discussion, here are the basics: the Atlanta Falcons currently play in the Georgia Dome, which was completed in 1992 at a cost of $214 million (and recently renovated at a cost of $30 million). And though it seems there are plenty of people that find it a perfectly nice place to watch a football game, Falcons owner Arthur Blank would disagree (as would the NFL). As word comes this week that Governor Deal and the State of Georgia seem inclined to help Blank in his quest for a new, open-air stadium on a parcel of land semi-adjacent to the Dome, more than a few folks are concerned about just how it will be paid for. And rightly so- the City and the State are kind of broke, right? The critics' arguments are bolstered by studies like these, which present a pretty compelling case that sports stadiums don't spark the local economic growth often cited in justification of bond or taxpayer financing for their construction. Plain old logic and practicality have some relevance here, too. Given Atlanta's many pressing infrastructure and education needs (to name just two), does it make sense to spend $694 million on a structure that the Falcons will use between 8-10 times per year?

---

[ohpenn]

If Blank wants a stadium, he can write a check. It's absolute bullshit for taxpayers to pay for yet another sports venue and in this case, only 20 years later.

One point on some of the restaurants noted above, it's nice to have out of town investors, but how about something unique to Atlanta, importing the same restaurant as another city I don't think enhances Atlanta's dining options.... they just become expensive chains.

[desertpunk]

Originally Posted by ohpenn

If Blank wants a stadium, he can write a check. It's absolute bullshit for taxpayers to pay for yet another sports venue and in this case, only 20 years later.

It's always much easier to cobble together a big stadium proposal than it is to get the thing financed and actually built.

One point on some of the restaurants noted above, it's nice to have out of town investors, but how about something unique to Atlanta, importing the same restaurant as another city I don't think enhances Atlanta's dining options.... they just become expensive chains.

I think Atlanta is certainly large enough to have both...in ample numbers.

[RaiderATO]

I've always wondered about the plot of land bordered by Ponce, North, and Juniper. I would call that the best plot of land in the city. And with an L shape, it could provide a more interesting design (or probably just a stand alone parking garage next to a rectangular building, the way things work around here...)

http://g.co/maps/mgcgu

Anyone know a reason why nothing is there or (to my knowledge) being planned?