micropundit
Jan 25, 2007, 5:09 PM
http://www.globest.com/newspics/atl_gatewaycenter.jpg
Plans for $230M Mixed-Use Development Take Shape
By Natalie Keith
COLLEGE PARK, GA-Atlanta-based Grove Street Partners is developing a $230-million, mixed-use project that will bring 1.1 million sf of hotel, office and retail space to the Gateway Center near the Hartsfield-Jackson International Airport.
The development will include a 400-room headquarters hotel, a 150-room suites hotel, four class A office buildings totaling 468,000 sf, and retail and restaurant outparcels totaling 75,000 sf.
The development will be adjacent to the Georgia International Convention Center, a 400,000-sf facility on 49 acres. Located one-half mile from the airport, Gateway Center will be the first stop on the airport’s expanded Automated People Mover system which is currently under construction and scheduled to be completed in the fourth quarter 2008.
Grove Street Partners president Kevin Kern tells GlobeSt.com that the project is expected to break ground in August. The hotels will be constructed first, followed by the office and retail components. “Mixed-use development at the Gateway Center brings new hotel, office and retail amenities to an area that to date has been underserved,” Kern says.
Negotiations with the company that will run the hotels have not yet been finalized, but the hotels are expected to open in the first quarter of 2009. “Demand for hotel space near the airport surges each year as Hartsfield-Jackson continues to grow,” says Grove Street Partners partner Jim Stormont, who joined the company on Jan. 15 and will lead the hotel development efforts.
The first office building will be a five-story, 135,000-sf building and will begin construction upon significant preleasing. The remaining buildings will be three- and five-story structures.
Atlanta-based architecture firms Smallwood, Reynolds, Stewart, Stewart & Associates and Goode Van Slyke Architecture designed the development. Skanska and C.W. Moody Construction Co. will serve as general contractors. Atlanta-based firms MHR International and Boyken International will serve as project managers, and MHR’s Mike Ross will be a partner in the development.
Copyright © 2007 ALM Properties,
Plans for $230M Mixed-Use Development Take Shape
By Natalie Keith
COLLEGE PARK, GA-Atlanta-based Grove Street Partners is developing a $230-million, mixed-use project that will bring 1.1 million sf of hotel, office and retail space to the Gateway Center near the Hartsfield-Jackson International Airport.
The development will include a 400-room headquarters hotel, a 150-room suites hotel, four class A office buildings totaling 468,000 sf, and retail and restaurant outparcels totaling 75,000 sf.
The development will be adjacent to the Georgia International Convention Center, a 400,000-sf facility on 49 acres. Located one-half mile from the airport, Gateway Center will be the first stop on the airport’s expanded Automated People Mover system which is currently under construction and scheduled to be completed in the fourth quarter 2008.
Grove Street Partners president Kevin Kern tells GlobeSt.com that the project is expected to break ground in August. The hotels will be constructed first, followed by the office and retail components. “Mixed-use development at the Gateway Center brings new hotel, office and retail amenities to an area that to date has been underserved,” Kern says.
Negotiations with the company that will run the hotels have not yet been finalized, but the hotels are expected to open in the first quarter of 2009. “Demand for hotel space near the airport surges each year as Hartsfield-Jackson continues to grow,” says Grove Street Partners partner Jim Stormont, who joined the company on Jan. 15 and will lead the hotel development efforts.
The first office building will be a five-story, 135,000-sf building and will begin construction upon significant preleasing. The remaining buildings will be three- and five-story structures.
Atlanta-based architecture firms Smallwood, Reynolds, Stewart, Stewart & Associates and Goode Van Slyke Architecture designed the development. Skanska and C.W. Moody Construction Co. will serve as general contractors. Atlanta-based firms MHR International and Boyken International will serve as project managers, and MHR’s Mike Ross will be a partner in the development.
Copyright © 2007 ALM Properties,