Atlanta Project Thread III

[Fiorenza]

SOB is on hold?

[tdawg]

i don't think SOB is on hold. I read that the opening is delayed so that they can refinance. i smart move on Ben Carter's part, i think.

[cybele]

No, it's not on hold. A lot of developers are trying to re-work their construction costs these days.

[Fiorenza]

A store neighbor told me there's been no activity for weeks. The cranes are still up though.

[ATLaffinity]

i keep thinking SOB is coming at the worst possible time.

i'd be surprised if it were completely anywhere near schedule.

didn't they pull out on the hotels?

[RobMidtowner]

^Yeah hindsight is 20/20. Too bad nobody saw this bad of a slowdown coming or they may have rethought their projects. :shrug:

[smArTaLlone]

Developer plans hotel renovation, new apartments

Atlanta Business Chronicle - by Lisa R. Schoolcraft Staff Writer


An Atlanta developer plans to renovate an existing hotel off North Druid Hills Road and add an apartment complex to the area.

Cortland Partners filed plans with the state's Department of Community Affairs for North Druid Hills Place, at 2174 North Druid Hills Road and 1447 Northeast Expressway, near North Druid Hills Road's intersection with Interstate 85.

Plans call for renovation of the existing 19-story, 210-room hotel by 2010 and construction of a new 425-unit apartment complex and parking deck, according to forms filed with state planners.

The apartment complex is expected to be complete by 2012.

The plans require rezoning of the site.

[micropundit]

The new location is at 275 Baker St. in the Luckie Marietta District of downtown Atlanta, between the World of Coca-Cola and the Georgia Aquarium.It will open on February 22.

“I believe the mission of our museum is to rebuild souls of America,” said Pat Stansbury, the museum’s executive director, in a news release. “This is a place where people fall in love with America again and if the are already in love with our country it provides an opportunity to support our mission through volunteerism, this is a place where our children learn what it means to be an American.”

The museum also is planning an official celebrity re-opening event on April 2. Patti LaBelle, Kenny Gamble, Lee Greenwood, Cowboy Crush are among the stars that will be at the museum to help unveil the new Patriotism in Entertainment and Music area of the museum.

[NativeAtlantan]

I don't remember anything planned to go between the aquarium and WoC...is it on the other side of Baker in the park or something?

[ATLBlaxican]

:previous:

I'm pretty sure its located at the base of the new Hilton Garden Inn. It's not between, but rather next to or in the area of the GA Aquarium and WoCC.

[jurban8]

Anybody know what's going on at the old Jocks and Jills on 10th Street? Appears to be new paint and interior construction. Also, there's something being built next to Paris on Ponce, but I can't tell what yet: there's only a brick and concrete wall so far

[Atlantan26]

I was also wondering what was going on with the former Jocks n Jills. The lot next to Paris on Ponce is going to be a Storage business.

[micropundit]

Friday, February 27, 2009
Atlanta Business Chronicle - by Urvaksh Karkaria Staff writer
One of the country’s largest home health-care companies is trading in the Apple for the Peach.

Gentiva Health Services Inc. is relocating its headquarters from Long Island to Atlanta — in the process bringing a former headquarters back to the city.

The company (Nasdaq: GTIV), which pulled in $1.3 billion in revenue last year, has significant operations in the Southeast, following its $454 million acquisition of Atlanta-based The Healthfield Group Inc. in 2006.

Gentiva, which provides skilled nursing, physical and occupational therapy and other services, serves nearly 500,000 patients annually.

The corporate relocation, expected to be completed next year, is “a culmination of a process that began a few years ago; based on Gentiva’s business, acquisitions and its key management team being located primarily in the Southeast region,” a Gentiva spokeswoman said, declining to further comment. Some corporate functions, including finance, marketing and sales support, have already migrated to Atlanta.

The move to the geriatric-friendly Sun Belt makes strategic sense, analysts said.

Gentiva hopes to beef up its share of Medicare patients, who are generally concentrated in Southern states, said Art Henderson, analyst at Jefferies & Company Inc.

“If you drew a line through the middle of the country,” Henderson said, “the markets that I feel like Gentiva is really trying to gain some share are below that line.”

The Healthfield Group not only gave Gentiva a firm foothold in the Southeast, it also gave the company its current chief. CEO Tony Strange previously helped run Healthfield.

Metro Atlanta’s concentration of health-care providers and medical services companies offer Gentiva a deep bench of corporate-level talent to recruit from, too.

“When you’ve got a growth company, there’s always opportunities for additional employment down the road,” Henderson said. “Frankly, it makes a lot more sense for them to be in Atlanta than it does on Long Island.”

The home health-care business is riding the boomer wave.

Gentiva reported a 33 percent spike in 2008 profits to $45.5 million, excluding a net gain from the sale of its CareCentrix unit and special charges. Companies such as Gentiva are benefiting from an aging population that prefers the conveniences and lower costs of receiving home care. Home-based care costs about $50 a day, compared with up to $500 in a skilled nursing facility and up to $2,000 in a hospital, Henderson said.

Demand for home health-care services is growing about 8 percent, with the more aggressive players growing at a 10 percent to 15 percent clip, Henderson said.

The industry is also profitable — the majors have operating margins of up to 15 percent — because of the relatively high share of Medicare patients.

“Medicare patients tend to be a little more attractive from a profitability standpoint,” said David MacDonald, an analyst at SunTrust Robinson Humphrey. “The goal is to maximize the number of patients that you are treating on the Medicare side.”

Medicare accounts for about 55 percent of Gentiva’s home health-care revenues, Henderson said. He anticipates that share to climb to about 75 percent in the next three to five years.

A comatose economy, however, could tighten the Medicare spigot.

“You’ve got a situation where the government’s broke; they are constantly looking to trim the budget,” MacDonald said. “Medicare is one of the biggest entitlement programs out there.”

A reimbursement decline could trigger a consolidation wave in a highly fragmented business. The U.S. home health-care industry includes 12,000 companies and agencies, and the 50 largest have less than 25 percent of the market, according to Hoover’s Inc. Medicare cuts are likely to squeeze the smaller players because they have less of a financial cushion to fall back on, Henderson said.

A fragmented business, Henderson said, means there’s room to grow and business valuations are reasonable.

“If you’ve got capital, if you’ve got access to capital, it just gives you more opportunity to be able to consolidate,” the analyst said. “I always prefer for growth businesses to be in a very fragmented industry.”

Gentiva Health Services Inc.

Background: The publicly traded company provides home healthcare and related services to nearly 500,000 patients annually from more than 380 locations in 39 states.
In the news: Gentiva is relocating its headquarters from Melville, N.Y., to Atlanta. The move is expected to be completed next year.
Full-time employees: 9,000
2008 net revenue: $1.3 billion

[cybele]

That Gentiva thing is great for Atlanta. I wonder where they will locate?

[smArTaLlone]

By JOHN HOLLIS
The Atlanta Journal-Constitution (http://www.ajc.com/business/content/business/stories/2009/02/28/condo_auction_atlanta.html?cxntlid=homepage_tab_newstab)
Saturday, February 28, 2009

Atlanta Dream executive David Downs had never participated in an auction, so he didn’t know what to expect from Saturday’s auction of 40 units of the Element at Atlantic Station condos.

But Downs, 32, soon walked away from the W Atlanta hotel downtown with all that he’d hoped for — a bargain deal of $257,000 for a three-bedroom townhouse in the trendy Midtown area.His winning bid was well below developers’ more-than $400,000 asking price.

Downs already has plans to vacate his current home in Conyers by March for the more convenient in-town location.

“I can’t wait to get downtown,” he said, “and not having to worry about driving a lot. We’ll be walking a lot and taking advantage of Atlantic Station.”

Downs was hardly alone in feeling satisfied following the conclusion of the 90-minute auction.

He was among 175 registered bidders who wound up buying not only the 40 properties originally on the block, but four others as well, Jon Gollinger said. Gollinger is the CEO of Accelerated Marketing Partners, the Boston-based residential real estate marketing and consulting firm responsible for the auction.

Atlanta resident Jenny Kujawski became a first-time homeowner when she purchased a two-bedroom condo for $211,000, well below the $289,000 listed price.

“I’m so excited,” the 28-year-old Delta employee said. “I didn’t know how it was going to go, but it all turned out well. I probably couldn’t have afforded it otherwise.”

There were many other such stories as potential home buyers took advantage of the current glut of unsold condos in metro Atlanta.

Element opened in 2006, when condo sales were just beginning to slide and inventory was soaring. Deals fell through as the market collapsed, leaving the developer holding dozens of empty units.

The auction benefitted everyone, Gollinger said.

Minimum bids for Element properties began as much as 56 percent below listed prices. For example, bidding opened at $95,000 for a one-bedroom unit originally priced at $214,900. Other minimum bids started at $139,000 for a two-bedroom unit previously listed at $276,900, and at $205,000 for a three-bedroom unit that had been priced at $414,900.

“I feel really good about it,” Kujawski said. “I’m so super excited. I didn’t know how it was going to turn out.”

[Atlwest281]

Well heck that is good to hear something positive for once about the intown housing market. So now with actual people moving into these homes it will only add to the AS and intown in general market. Maybe more buildings should try this and they might be filled up.

[AtlMidtowner]

Well heck that is good to hear something positive for once about the intown housing market. So now with actual people moving into these homes it will only add to the AS and intown in general market. Maybe more buildings should try this and they might be filled up.

How is it possibly positive that $215k condos are selling for $95k??

Its obviously a necessity to avoid foreclosure of the developer, but selling at those prices is NOT good news for those that already live intown!! Anyone owning here would obviously want the developers to have big enough pockets to be able to hold vacant condos until the housing market recovers in a year or so. Unfortunately, the cost of holding may exceed the cost of selling at a loss........Property values of all nearby condos will be hurt dramatically if more and more developers are forced into fire auction sales.

[Atlwest281]

You do have a point Atlmidtowner, but some of those condo's were grossly over priced for what they offered. Im looking at it from the perspective of these for the most part are real people who wil really live in these condo's as oppose to flippers.

[dirtybird]

How is it possibly positive that $215k condos are selling for $95k??

I think that was just the opening bid. Does anyone have info on how much they sold for?

[ATLaffinity]

How is it possibly positive that $215k condos are selling for $95k??

Its obviously a necessity to avoid foreclosure of the developer, but selling at those prices is NOT good news for those that already live intown!! Anyone owning here would obviously want the developers to have big enough pockets to be able to hold vacant condos until the housing market recovers in a year or so. Unfortunately, the cost of holding may exceed the cost of selling at a loss........Property values of all nearby condos will be hurt dramatically if more and more developers are forced into fire auction sales.

i think you're wrong. it's great news that people will pay close to $300k to live at an unproven community like Element. it shows that people really want to live intown.

better a loss than a total financial collapse for the developer. look at communities across the country which are literally ghost towns. a condo selling for 65 cents on the dollar isn't bad news in a recession.

you think the market is recovering in "a year or so"??? :jester:

i sure hope you're right.

[AtlMidtowner]

i think you're wrong. it's great news that people will pay close to $300k to live at an unproven community like Element. it shows that people really want to live intown.

better a loss than a total financial collapse for the developer. look at communities across the country which are literally ghost towns. a condo selling for 65 cents on the dollar isn't bad news in a recession.

you think the market is recovering in "a year or so"??? :jester:

i sure hope you're right.

Of course one person's misfortune is another man's good luck. To those that are buying, of course it is good. To the overall market, and to those that already own in Midtown and Atlantic Station, like me, every auction signifies a disaster in terms of existing property values. If a handful of foreclosures effect values, then entire buildings and developments will destroy values and cause many to walk away from their existing mortgages! (like one of our fellow forum bloggers posted about 6 months ago because condos were selling less than what he paid)

Under no circumstance is the forced selling of any kind of real estate a good thing, except for a handful of people taking advantage of others misfortune (I was part of that when I bought 30 condos resulting from the Reagan's S&L banking crisis through the Resolution Trust Corporation in the early 1990s)

I believe things will continue to get worse until late summer and fall, a lot worse, then by Xmas, the seeds of recovery will start to germinate. It will take MANY years to fully recover.

Obviously an auction on a completed project is much better than a project shutting down in the middle (imagine The Atlantic stopping right now!). Everyone should hope the condo developers can afford to hold the vacant condos through the crisis, or lease them out as Tivoli is attempting

Shutting down in the middle of highrise construction frequently happens in other countries. Bangkok,Thailand, from 1997 until about 2004/2005 was riddled with 10-40 story tall condo and office buildings that looked like skeletons in a dieing city like Skyline at Lindbergh, except some were much closer to completion. Suddenly in 2003/2004, all these projects were restarted and now Bangkok is once again a bustling city, despite political turmoil caused by right wing elitists of Bangkok.

[ATLaffinity]

i own a condo in midtown. so i think we want the same things. i'm not sure AS values move our values.

the people seemed to pay what the units are worth. i may not like it but my condo has drastically depreciated with or without auctions in the area.

the auction seems more like a symptom. i guess i envisioned an auction with few participants and people stealing these places. element isn't some upscale property. i'm still shocked they sold these units.

[Atlwest281]

:previous:
Thats kinda what I was getting at. These units were very over priced to being with for what they offered. Whether they were auctioned or not property values around the country and the world are going down. If they were auctioning condo's off at W-downtown or Mansion or St. Regis etc etc then yes I would be somewhat concerned but these element condo's are not upscale property and the way I see it are being sold for what they should have been priced to start with hence why maybe they are being auctioned in the first place to much choice with better quality and product in the original price range the element condo's were going for. Am i making sense or am i rambling LOL :) Its okay you can tell me if i am :)

[OCA REP]

:previous:
Thats kinda what I was getting at. These units were very over priced to being with for what they offered. Whether they were auctioned or not property values around the country and the world are going down. If they were auctioning condo's off at W-downtown or Mansion or St. Regis etc etc then yes I would be somewhat concerned but these element condo's are not upscale property and the way I see it are being sold for what they should have been priced to start with hence why maybe they are being auctioned in the first place to much choice with better quality and product in the original price range the element condo's were going for. Am i making sense or am i rambling LOL :) Its okay you can tell me if i am :)

You are making good sense. I think EVERYONE is FRUSTRATED with the devaluation that has occured with real estate almost EVERYWHERE...

[Terminus]

You are making good sense. I think EVERYONE is FRUSTRATED with the devaluation that has occured with real estate almost EVERYWHERE...

True, but the silver lining is that many people who want to live intown can now do so for a lower price, assuming they can get a mortgage.

This said, I think the prices paid for Element are still too high. After all, the building won't even hold up for the duration of a typical 30 year mortgage. At least the Novare stuff that so many people like to criticize will be around in 100 year.

[CityFan]

better a loss than a total financial collapse for the developer. look at communities across the country which are literally ghost towns. a condo selling for 65 cents on the dollar isn't bad news in a recession.


Well, I think builders should learn a lesson from this. They overpriced their properties for sale in the first place and priced out those middle class buyers. In result, the market crashed because majority would-be buyers can't afford a house. Builders as a whole should maintain a healthy sustainable market so that people can continue to buy their products. When market has many bubbles, they will eventually bust. Everyone becomes a looser.

[smArTaLlone]

Diller Scofidio Renfro

http://i4.photobucket.com/albums/y108/pincfx/01small.jpg

http://i4.photobucket.com/albums/y108/pincfx/02.jpg

Freelon / HOK

http://cchrpartnership.org/Portals/23/2_PressPhoto_ViewfromPembertonPlace_Entrance%20small.JPG

http://cchrpartnership.org/Portals/23/1_PressPhoto_AerialFromNorthEast%20small.JPG

Moody Nolan / Predock

http://img54.imageshack.us/img54/6677/02entry20copy.jpg

http://i4.photobucket.com/albums/y108/pincfx/01_Aerialcopy.jpg

Huff + Gooden

http://i4.photobucket.com/albums/y108/pincfx/3-SOUTH_ENTRANCE_S.jpg

http://i4.photobucket.com/albums/y108/pincfx/2-EAST.jpg

Polshek Partnership, Cooper Carry, Stanley Love-Stanley

http://i4.photobucket.com/albums/y108/pincfx/parkrendering.jpg

http://i4.photobucket.com/albums/y108/pincfx/amphitheaterrendering.jpg

Civil Rights Museum designs (http://cchrpartnership.org/FromtheDirector/tabid/1873/Default.aspx)

[jpk1292000]

These Civil Rights museum renderings are all stunning. I think I give the edge to the HOK design. If this gets built and the shelter at Peachtree and Pine is closed, it will be a great time in Atlanta.

[Atlantan26]

i like how the one design shows interior exhibits and they include international topics! I hope that is how the museum is designed.

[tdawg]

wow, impressive.

[cybele]

I like several of those designs! I just hope it doesn't turn out to be like the King Center where you've got a colony of people literally sleeping under the bridge a few hundred feet away from a civil rights memorial.

:(

[SAV]

:uhh: I like several of those designs! I just hope it doesn't turn out to be like the King Center where you've got a colony of people literally sleeping under the bridge a few hundred feet away from a civil rights memorial.

:(

Shut-uP:uhh: :uhh:

[cybele]

:uhh:

Shut-uP:uhh: :uhh:

Well, you're entitled to your own take on it. But like it or not those folks under the bridge are human beings, too. As much as I enjoy good architecture, it seems rather tragic for our city to focus on raising millions for a new memorial to civil rights, when some of the very people who were supposed to be helped by it are living on the streets right outside our existing memorial.

[joecool]

Can someone show on a map where this is going? I am trying ti figure this out, lol. Have the started construction on this yet? I saw some digging around close to the World of Coke.

[micropundit]

Atlanta Business Chronicle - by Dave Williams Staff Writer
The city of Atlanta and Georgia Department of Transportation reached an agreement late Friday to accommodate a proposed passenger rail line into the city without using a portion of the planned Beltline corridor.

The city and DOT will work with Atlanta Beltline Inc., Amtrak and MARTA during the next 15 days to finalize and document the agreement and seek approvals from the Atlanta Regional Commission and the new Transit Implementation Board, another regional panel.

City officials complained last month that running commuter and/or high-speed trains along the 4.3-mile Decatur Belt would interfere with the atmosphere they were seeking to create with the parks and recreational trails they are planning to build along the 22-mile Beltline.

DOT officials responded that passenger rail service is needed to foster economic development in metro Atlanta.

The two sides agreed to work together for 30 days to try to resolve the dispute. The deadline they set fell on Friday.

The agreement worked out by executives and staff members from the various agencies calls for abandoning the Decatur Belt and instead using an alternative freight line further west that could be modified to increase passenger rail capacity.

[smArTaLlone]

Can someone show on a map where this is going? I am trying ti figure this out, lol. Have the started construction on this yet? I saw some digging around close to the World of Coke.

In this rendering you can see the location. Coke is on the left with the parking deck and aquarium to the right.

http://cchrpartnership.org/Portals/23/1_PressPhoto_AerialFromNorthEast%20small.JPG

[smArTaLlone]

Here's another rendering of the Toyoko Inn with a tiny bit more detail.

http://i4.photobucket.com/albums/y108/pincfx/Highrises/toyokoinn-equitable.jpg

[Tombstoner]

All the Civil Rights Museum designs look pretty classy except the one that people apparently walk all over -- looks a little Disney (and not in the good way).
The Toyoko Inn looks like an abomination. A sort of U-Store-It highrise. :yuck:

[NYClife2005]

Here's another rendering of the Toyoko Inn with a tiny bit more detail.

http://i4.photobucket.com/albums/y108/pincfx/Highrises/toyokoinn-equitable.jpg

O yea, just what downtown ATL needs, more BROWN & BLAND

P-O-S

:koko:

[jpk1292000]

Here's another rendering of the Toyoko Inn with a tiny bit more detail.

http://i4.photobucket.com/albums/y108/pincfx/Highrises/toyokoinn-equitable.jpg

Is this currently under construction?

I agree that this isn't a great design, but it's light years better than the surface parking lot that was there before.

[cybele]

Looks good to me. It's exciting to see projects going forward in these difficult times.

:tup:

[Tombstoner]

Is this currently under construction?

I agree that this isn't a great design, but it's light years better than the surface parking lot that was there before.

I'm not so sure. If it were a surface parking lot, it would still hold the promise of being something of quality in the future. This pretty much ensures that there will be an eyesore in a prime location.

[cabasse]

that building is shmexy.

[smArTaLlone]

Emory University has halted plans for a $1.5 billion makeover of its two health-care campuses, officials said.

"We'll suspend the project until market situation improves," spokesman Jeff Molter said."It's just a pause."

Molter anticipates the project to be on hold at least through 2009.

Emory's planned five year development would have increased hospital bed capacity by 25 percent and created more than 1,800 jobs.

Plans called for a 250-bed hospital at Emory's main campus in Decatur to replace about 100 beds at Emory University Hospital.

Emory's Midtown hospital, meanwhile, would get a new up to 11-story medical tower, which will include about 125 new hospital beds, a new 137,000 square foot Emory Clinic and about 75,000 square feet of new research space.

[joecool]

I'm not so sure. If it were a surface parking lot, it would still hold the promise of being something of quality in the future. This pretty much ensures that there will be an eyesore in a prime location.

I like it just fine. Not everything has to be bright and shiny. I like how our skyline has diversity. Not everything need to look like Novare stuff or 1010

[jurban8]

I like it just fine. Not everything has to be bright and shiny. I like how our skyline has diversity. Not everything need to look like Novare stuff or 1010

Totally agree. As long as it addresses the street in a meaningful way it's cool with me.

[smArTaLlone]

12th and Midtown has a new image showing the master plan. I like the potential of 12th street as a pedestrian corridor.

http://i4.photobucket.com/albums/y108/pincfx/12thMidtown.jpg

[GThomas]

There is a new store opened on Peachtree between 5th and 6th occupying some of Space's ...old space. The store is called Uomo (I think?) Looks nice. With Select across the street and a couple of tenants for Viewpoint, it's nice to see these empty spaces fill up.

[joecool]

12th and Midtown has a new image showing the master plan. I like the potential of 12th street as a pedestrian corridor.

http://i4.photobucket.com/albums/y108/pincfx/12thMidtown.jpg

Is block D going to be a high rise? I wish that had renderings of the C and D block buildings

[cybele]

Block D as mid- or lowrise would be a nice stepdown. As much as I like this project, it's verging on creating a gloomy canyon-like feel on Peachtree. Our streets aren't wide enough to support too many tall buildings clustered in a really tight configuration.

[smArTaLlone]

Is block D going to be a high rise? I wish that had renderings of the C and D block buildings

This is Block C

http://i4.photobucket.com/albums/y108/pincfx/Highrises/1125Peachtree.jpg

[Atlantan26]

I Like Block C (phase 3) a lot!! I really hope this gets built. :)

[Terminus]

It really does feel like a dark canyon on Peachtree, at least this time of year. I wonder if it will get more sun as the sun moves north for the summer. Otherwise, those trees will die.

[Atlwest281]

I dont know I kinda like the canyon feel. It makes it feel like a denser city. :)

[joecool]

It really does feel like a dark canyon on Peachtree, at least this time of year. I wonder if it will get more sun as the sun moves north for the summer. Otherwise, those trees will die.

This is why I think Atlanta has too many trees. Don't get me wrong I love trees but I think they are going a little too far with sticking a tree in every hole in the ground they can find. In the summer midtown looks like a jungle in some spots. I love the rendering of block C. I am assuming we won't see it come out of the ground anytime soon. What happened with the Manadarin Hotel? I thought they were about to start construction soon... This part of midtown is going to be sooooo sexy!

[micropundit]

Old Symphony Hall would be demolished for new building at Peachtree and 15th
By PIERRE RUHE

The Atlanta Journal-Constitution

Thursday, March 12, 2009

The Woodruff Arts Center has unveiled a new plan for its dormant concert hall project, calling for a state-of-the-art venue at the corner of Peachtree and 15th streets.

The new concert hall would sit atop Callaway Plaza, now used for drop-offs and parking at the southern edge of the 41-year-old arts center. The plan requires demolishing some of the center, which houses the current Symphony Hall, the Alliance Theatre and other facilities.

The proposal is contained in a new 25-year master plan for the arts center. The board of the Atlanta Symphony Orchestra, a division of the arts center, approved the plan earlier this week, although a timeline and a price tag have yet to be determined.

In a letter to ASO musicians and major donors written by ASO Vice President for Development Paul Hogle and obtained by the Journal-Constitution, Hogle wrote: “The vote by the board is a significant and enthusiastic endorsement of the Woodruff Arts Center’s master planning process for the future of the entire campus over the next 25 years. And from the orchestra’s perspective, the context leading to this decision is deeply encouraging.”

A new concert hall for the ASO, to replace the art center’s acoustically poor Symphony Hall, has been in the works for a decade.

A deluxe Symphony Center, with architecture by celebrated Spanish architect Santiago Calatrava, was designed for a 3.3-acre site on 14th Street, just west of Peachtree and a block from the arts center. But fund-raisers for the ASO couldn’t meet the $300 million price tag. Some $114 million had been raised before the campaign was halted two years ago.

With a new location and an economic recession, it’s not known how many of the original donors would still contribute.

ASO officials were eager to talk privately about the plan but said it was up to the arts center leaders to make all official announcements.

The new master plan, developed by Boston-based Sasaki Associates, looked at nine sites for a concert hall, including one above MARTA’s Arts Center station and another directly across Peachtree Street from the center.

Although the ASO has not consulted with architect Calatrava on the site change, his spokeswoman, Claire Whittaker, said a year ago that Calatrava remained committed to the ASO project, noting that the architect is “open to change.”

[jurban8]

This is why I think Atlanta has too many trees. Don't get me wrong I love trees but I think they are going a little too far with sticking a tree in every hole in the ground they can find. In the summer midtown looks like a jungle in some spots. I love the rendering of block C. I am assuming we won't see it come out of the ground anytime soon. What happened with the Manadarin Hotel? I thought they were about to start construction soon... This part of midtown is going to be sooooo sexy!

I'm not sure too many ppl would agree with you on Atlanta having too many trees on a blazing summer day, but ok...
The news on the Symphony Hall is great, it always deserved a more prominent spot. Calatrava, Mier, and Piano all in one block? Orgasmic. And if Richard Rogers ever got to build the Wieland condos, it would be even more amazing

[trainiac]

Oops

[Atlantan26]

When people visit here for the first time especially from the west and midwest they are shocked and in awe over all the beautiful greenery.
plus it keeps the temsp lower in the summer. :)

[smArTaLlone]

Old Symphony Hall would be demolished for new building at Peachtree and 15th
By PIERRE RUHE



This is VERY exciting news! Maria Saporta has a bit more on this.

New plan for symphony hall
Atlanta Business Chronicle
Full article (http://www.bizjournals.com/atlanta/stories/2009/03/16/story1.html?b=1237176000^1793188)

“The big breakthrough was figuring out a way to get the prominence of the 15th Street/Peachtree location,” Gellerstedt said. “The side benefit is that there are huge cost savings by being able to use the existing support infrastructure. The 15th Street option is just an outstanding option for the future.”

Because of the potential cost savings of removing about 60,000 square feet from the project, Gellerstedt said that “this option makes the project more feasible than the previous alternative.”

Bankoff said the center is still working on cost estimates of the new hall and the master plan, which was paid for by the Robert W. Woodruff Foundation and the Midtown Improvement District. He hopes to be able to present a more definitive plan to the Woodruff Arts Center board in May.

One of the major advantages of the new plan is that all elements of the center will continue to be part of the same campus with two major bookends along Peachtree — the High Museum on 16th Street and the new symphony hall at 15th.

Bankoff said it will allow the center to continue to build on the notion of creating a cultural village.

The village concept was advanced by Italian architect Renzo Piano, who designed the High’s new addition. In fact, Piano once had proposed putting symphony hall at 15th Street. But his solution would have removed a large part of the front of the existing Memorial Arts Center, an unpopular idea at the time.

Bankoff also insisted that the master plan was a 25-year plan for the entire center, and not just for the ASO. The hope would be that a new educational facility would be built at the Arts Center MARTA Station and that there would be a new performance venue in the heart of the center for the Alliance Theatre.

[Verge]

Is this currently under construction?

I agree that this isn't a great design, but it's light years better than the surface parking lot that was there before.


Better than a surface parking lot-- High praise indeed... :)

[W-Midtown Phoenix]

Is block D going to be a high rise? I wish that had renderings of the C and D block buildings

When I visited 1010 I was told that block D will be a grocery store and other assorted stores. So I expect a low-rise completely, no more than 2 stories.

I agree that would be a good step down and give a more neighborhood feel to the restaurants just across the street at 1010. No reason to put high rises on that side of Crescent too.

Also, I can tell you all that absolutely nothing is going on at block C or the Mandarin hotel lot. I overlook both of these everyday and block C is being used for parking and as a staging site for block B. No demolition or cleanup has taken place. And the Mandarin lot is still a profitable parking lot with no sign of change.

Lastly, the Bank of America and the restaurants at 1010 have begun build outs. You can't see inside the BoA, but the restaurants are already working on the interior designs and furniture is already inside. Shouldn't be long now!

Sorry for the looong update...

[dirtybird]

As much as I want to, I just don't see Mandarin Oriental happening in this market.

[NYClife2005]

As much as I want to, I just don't see Mandarin Oriental happening in this market.

Yea, i'm no expert EITHER, but i just gotta say all this pessimism is for what? I mean IF it wasnt gonna get built, why would they be spending all this money on advertising, promotions, renderings, etc?

It's like with Streets of Buckhead - so many say it's not gonna get finished, but if that were true they wouldnt be STILL spending money on it.

Point is, IF it were so uncertain, THEY (the experts) wouldnt be betting on it.

[ATLaffinity]

who's done any advertising for Mandarin???

they showed a rendering. that is not going up for a long, long time.

[joecool]

who's done any advertising for Mandarin???

they showed a rendering. that is not going up for a long, long time.

Reason I was asking about Mandarin was because I had remembered hearing (or reading) on here at some point that getting it built wasn't a problem because of using a bank in China or Japan to finance everything. Plus I honestly don't think anything else is going to be built for awhile but thought something had been said that the were gonna go through with Mandarin because half is a hotel or something..... someone refresh my memory, lol

[joecool]

When people visit here for the first time especially from the west and midwest they are shocked and in awe over all the beautiful greenery.
plus it keeps the temsp lower in the summer. :)

Oh I totally agree, I am just saying in some spots I think they go a little overboard. I wish they would plant something like weeping willows, chinese naples, magnolia trees, dogwoods, to give a little diversity. I also wish they would plants something other than the stupid monkey grass.... can we get some flowers up in here? I also wish they would do a little bit of landscaping around 75/85 that runs along the city. It would do a world of difference if they would plant a few flowers here and there.....I wish a lot huh?

[cybele]

Castleberry Point looks very nice. How are sales going down there?

[smArTaLlone]

The Atlanta Journal-Constitution
Monday, March 16, 2009

Enough potential bidders are interested in a sprawling homeless shelter on Peachtree Street that officials decided to extend the deadline for bids, the agent handling the property said Monday.

Monday was the deadline for potential buyers to make an offer for the 96,000-square-foot building at 477 Peachtree N.E., owned and operated by the Metro Atlanta Task Force for the Homeless. But enough last-minute interest in the structure prompted the task force’s board chairman to extend the deadline approximately two weeks, said agent Gene Kansas. An exact deadline for the extension has not been set.

The task force had received one bid by Monday afternoon. Kansas declined to say who bid, or how much the bidder offered.

The building, opposite Emory University Hospital Midtown, is on the market for $10.5 million. Built in the 1920s, it is a former Packard automobile showroom and once housed a ballet company. Task force officials say it is a haven for more than 700 desperate men who don’t have a place to sleep. Critics claim the shelter attracts petty criminals and aggressive panhandlers.

— Mark Davis

[echinatl]

The Atlanta Journal-Constitution
Monday, March 16, 2009

Enough potential bidders are interested in a sprawling homeless shelter on Peachtree Street that officials decided to extend the deadline for bids, the agent handling the property said Monday.

Monday was the deadline for potential buyers to make an offer for the 96,000-square-foot building at 477 Peachtree N.E., owned and operated by the Metro Atlanta Task Force for the Homeless. But enough last-minute interest in the structure prompted the task force’s board chairman to extend the deadline approximately two weeks, said agent Gene Kansas. An exact deadline for the extension has not been set.

The task force had received one bid by Monday afternoon. Kansas declined to say who bid, or how much the bidder offered.

The building, opposite Emory University Hospital Midtown, is on the market for $10.5 million. Built in the 1920s, it is a former Packard automobile showroom and once housed a ballet company. Task force officials say it is a haven for more than 700 desperate men who don’t have a place to sleep. Critics claim the shelter attracts petty criminals and aggressive panhandlers.

— Mark Davis

Great news, I hope they tear the building down!!

[jurban8]

Great news, I hope they tear the building down!!

What's wrong with that building? I think it's beautiful...

[Terminus]

Great news, I hope they tear the building down!!

It's a nice building. It just needs TLC and a good sanitizing.

[cybele]

Anyone know how things are going down at Renaissance Walk? The project looks good from the street.

[Verge]

Anyone know how things are going down at Renaissance Walk? The project looks good from the street.

The retail is slowly filling up-- the condos are selling like condos everywhere as in-- not a lot...

[Verge]

Yea, i'm no expert EITHER, but i just gotta say all this pessimism is for what? I mean IF it wasnt gonna get built, why would they be spending all this money on advertising, promotions, renderings, etc?

It's like with Streets of Buckhead - so many say it's not gonna get finished, but if that were true they wouldnt be STILL spending money on it.

Point is, IF it were so uncertain, THEY (the experts) wouldnt be betting on it.

I thought the Street of Buckhead had 'temporarily' stopped construction on at least a part of the devlopment in order 'take advantage of market conditions' to get better construction prices-- THEY are folks like AIG, and Leahman Brothers (remember them)... with experts like that we don't need enemies...
I'm not so sure anyone is betting on anything right now... attested to by the 100's (1000's) of architects currently out of work in Atlanta...

[ATLaffinity]

^ again, why would they paint over all the names of the shops and why isn't the media covering this story???

[micropundit]

March 19, 2009

The Emory Conference Center Hotel in Atlanta is seeking LEED Silver certification for its expansion project. The five-story structure will feature 127 guestrooms, 6,000 square feet of additional meeting space, and a six-lane bowling alley with a full bar and game room. In addition, the hotel hopes to attain LEED status for its renovations to the existing structure's indoor pool, health club, club room, dining room, and the kitchen

[dirtybird]

Yea, i'm no expert EITHER, but i just gotta say all this pessimism is for what? I mean IF it wasnt gonna get built, why would they be spending all this money on advertising, promotions, renderings, etc?

It's like with Streets of Buckhead - so many say it's not gonna get finished, but if that were true they wouldnt be STILL spending money on it.

Point is, IF it were so uncertain, THEY (the experts) wouldnt be betting on it.

Advertising, promotions, and renderings are just 1-3% of the cost of the project. Trump Towers had more $ sunk into marketing than Mandarin Oriental and they still pulled out; smart move IMO.

[cybele]

^ again, why would they paint over all the names of the shops and why isn't the media covering this story???

I heard that the signs had been vandalized and are being redone.

[spfaust]

who's done any advertising for Mandarin???
they showed a rendering. that is not going up for a long, long time.


Reason I was asking about Mandarin was because I had remembered hearing (or reading) on here at some point that getting it built wasn't a problem because of using a bank in China or Japan to finance everything. Plus I honestly don't think anything else is going to be built for awhile but thought something had been said that the were gonna go through with Mandarin because half is a hotel or something..... someone refresh my memory, lol

I believe this property is going to be rather uniquely marketed, and as "we" - most, if not all, of us posting to this website - are not within that target market, we will most likely not know too much without investigating for ourselves. In other words, if one doesn't have ready resources to purchase a $2-$8 million condo unit, the developer (Tivoli) is not directing its efforts or communication to you.

However, for those well qualified and in the target market league, Tivoli has been aggressively marketing the condo units with their "Founders Program," a pre-construction sales effort that seems to have had good effect. From Tivoli's "Mandarin Oriental Residences Atlanta" website:
____________________________________________

TIVOLI PROPERTIES, INC. DEBUTS FOUNDER’S PROGRAM FOR THE RESIDENCES AT MANDARIN ORIENTAL, ATLANTA

Exclusive opportunities and pricing for the select few – 60% already sold

The Residences at Mandarin Oriental, Atlanta Founder’s Program. Limited to the first 30 residences sold, this exclusive program offers priority selection of one of the sophisticated homes and its opulent finishes as well as a significant reduction in the cost for the home. Based on the average unit size in the building, Founders will realize a $200,000 value. To date, 20 of the 30 reservations have been secured for this program and the announcement of Mandarin Oriental, Atlanta.
____________________________________________

"The Residences at Mandarin Oriental, Atlanta" is composed of 71 residences in addition to the hotel rooms. From what I have heard, once they achieve completion of the Founders Program, the intention is to begin development. Of course, given our economy, I think it goes without saying that everything is subject to change at any moment.

[RobMidtowner]

60% of 30 units = 18 units

18 units/71 units = 25% sold

[micropundit]

I have heard on this board,I believe, that 30 is the magic number.

[cybele]

Interesting article in the Atlanta Business Chronicle about Cousins' new incentive plan to sell condos at Terminus.

The Atlanta-based developer is launching a buyer-incentive program at 10 Terminus Place, its 32-story condo tower in Buckhead that opened last fall. The incentives include guaranteeing the value of the condos — which average between $600,000 and $800,000 — for the first three years and allowing buyers to walk away during that same time with no damage to their credit.

“We’re taking all the risk out of the equation,” Cousins CEO Tom Bell said. “We’re also letting people see how much confidence we have in this market.”

In addition, they're financing the condos with a 5% down payment and a 4% interest rate. Also, buyers who put 20 percent down can move in with no payments for a year while they try to sell their existing home.

http://atlanta.bizjournals.com/atlanta/stories/2009/03/23/story3.html

[trainiac]

180 Peachtree, the splashy downtown Macy’s redo, opens in November.

What people will see then is different and, developers say, a better fit than what was first planned.

Out is the festive retail center. Now, says Robert Patterson, there will be fewer shops, but three prominent restaurants (including a Meehan’s and a Sweet Georgia’s Juke Joint), a grand special events space and, on the Terrace level, an exhibition center for top touring shows. Think King Tut.

“We’ve taken what we thought would be a mostly retail complex and scaled back the retail to be focused on Peachtree Street,” says Patterson. “The exhibition center can be really powerful for downtown.”

The recession was a spur, but, “I think the uses we have now are truly the highest and best uses, not just ports in a storm.”

The search is on for a corporate partner to put its name on the center. The buyer stands to get heavy media exposure with every show.

AJC link (http://www.ajc.com/metro/content/printedition/2009/03/20/mark0320.html)

[micropundit]

180 Peachtree, the splashy downtown Macy’s redo, opens in November.

What people will see then is different and, developers say, a better fit than what was first planned.

Out is the festive retail center. Now, says Robert Patterson, there will be fewer shops, but three prominent restaurants (including a Meehan’s and a Sweet Georgia’s Juke Joint), a grand special events space and, on the Terrace level, an exhibition center for top touring shows. Think King Tut.

“We’ve taken what we thought would be a mostly retail complex and scaled back the retail to be focused on Peachtree Street,” says Patterson. “The exhibition center can be really powerful for downtown.”

The recession was a spur, but, “I think the uses we have now are truly the highest and best uses, not just ports in a storm.”

The search is on for a corporate partner to put its name on the center. The buyer stands to get heavy media exposure with every show.

AJC link (http://www.ajc.com/metro/content/printedition/2009/03/20/mark0320.html)

Translation: we got no takers for our retail space so we are going to become an exhibition hall.

[jurban8]

Translation: we got no takers for our retail space so we are going to become an exhibition hall.

LOL exactly. It seems like a dangerous proposition to open retail in a location that depends solely on office workers and tourists/conventioneers especially in this day and age. I've even heard the head of CAP say that downtown lost the battle for retail long ago.

[jobe]

Interesting article in the Atlanta Business Chronicle about Cousins' new incentive plan to sell condos at Terminus.



In addition, they're financing the condos with a 5% down payment and a 4% interest rate. Also, buyers who put 20 percent down can move in with no payments for a year while they try to sell their existing home.

http://atlanta.bizjournals.com/atlanta/stories/2009/03/23/story3.html

What the article didn't tell people is that you may not damage your credit, but you do lose your earnest money - 20%. That's a hard sell, especially at those prices.

[g-man435]

Terminus:
http://i48.photobucket.com/albums/f221/g-man436/073-4.jpg

http://i48.photobucket.com/albums/f221/g-man436/029-9.jpg

http://i48.photobucket.com/albums/f221/g-man436/056-6.jpg

The Atlantic at Atlantic Station:
http://i48.photobucket.com/albums/f221/g-man436/041-4.jpg

http://i48.photobucket.com/albums/f221/g-man436/043-7.jpg

(right side of picture)
http://i48.photobucket.com/albums/f221/g-man436/028-9.jpg

[trainiac]

Well, soon my ultimate downtown dream will be realized: walk from Haveli to Trader Vics solely via portman-tubes! Yea!

The finishing touch is getting pretty close to being finished between the Hilton and the Marriott
http://jolomo.net/atlanta/pics/downtown/tube-new.jpg

Before this the closest one could get was via the Tube of Unfathomable Length:
http://jolomo.net/atlanta/pics/downtown/tube-long.jpg
She's a beauty, eh? I would love to hear of the circumstances that required building that sucker.

Of course, either of these courses assume access to my secret weapon which I believe is the only structure that crosses Peachtree
http://jolomo.net/atlanta/pics/downtown/tube-secret.jpg
Haven't been up there for a while, wonder if it's still open after office hours?

[cybele]

Before this the closest one could get was via the Tube of Unfathomable Length:
http://jolomo.net/atlanta/pics/downtown/tube-long.jpg
She's a beauty, eh? I would love to hear of the circumstances that required building that sucker.

Excellent shots! I believe this must have been built to keep people off the streets and to level out that uneven terrain. You can't have people going up and down hill all day long and trespassing on those surface parking lots.

And here I thought I was the only person on the boards who hangs out at Trader Vic's.

[smArTaLlone]

By STAFF REPORT
The Atlanta Journal-Constitution
Thursday, March 26, 2009

A pair of interlocking terra-cotta-clad buildings as a metaphor for the linked arms of civil rights marchers is the winning design for the planned Center for Civil and Human Rights.

A jury of 13 civil rights advocates, architectural experts, local and national leaders helped the center’s board select the design by Freelon Group of Durham, N.C. / HOK of Atlanta. The Rev. Martin Luther King Jr.’s collection will be installed at the highest point of the buildings, facing the downtown skyline.

Five architectural teams were finalist to design the $125 million facility.

Groundbreaking for the center is planned for late this year on a 2.2-acre site near Centennial Olympic Park. It is scheduled to open in 2012.


http://cchrpartnership.org/Portals/23/1_PressPhoto_AerialFromNorthEast%20small.JPG

Link (http://www.bizjournals.com/atlanta/stories/2009/03/23/daily65.html)

[cybele]

Groundbreaking for the center is planned for late this year on a 2.2-acre site near Centennial Olympic Park. It is scheduled to open in 2012.

It's great to see Edie Cofrin and Kerry Kennedy involved in this project. That should help promote a broader vision for the center.

[Alfred E Neuman]

Beyond the symbolism, it works as a landmark not tied to a stylish moment. Best for the site imo.

[jpk1292000]

This is a great design. I can't wait for it to get built. That area around COP is really becoming an attractive destination with alot to do.

[joecool]

Once they build the Hard Rock Hotel (which I am guess won't be till like 2048) that area is gonna be on FIYAH!

[Terminus]

Well, soon my ultimate downtown dream will be realized: walk from Haveli to Trader Vics solely via portman-tubes! Yea!

The finishing touch is getting pretty close to being finished between the Hilton and the Marriott


There is one more tube coming... this time between the Marriot and the Hyatt.

"Honky Tubes*" are now illegal under the zoning, but this last one slipped in by filing for a building permit jsut before the zoning changed in 2007.

*The skywalk system connecting the buildings and interior space of the Peachtree Center complex was the most controversial aspect of the project. Called "honky tubes" by local African-Americans, the skywalks tend to segregate the mostly white visitors rather than encouraging them to experience the life of the city outside the buildings.

Source:
Paul Kantor, Dennis R. Judd
American Urban Politics in a Global Age: The Reader, p. 195
Longman, c2007

[PedestriAnne]

I just can't quit laughing at "honky tubes." I am literally LOL-ing over here. Never heard that until today.

I've worked in several different parts of Peachtree Center and those things are pretty nice when it's cold, windy and raining, but with the hit-or-miss (mostly miss) air conditioning, it could be like walking through a glass-walled sauna in the summer. I remember many a time starting out dry at one end of the TOUL and being soaked with sweat at the other. Not such a big deal on the way to the gym. Pretty annoying on the way back after the shower.

I remember that area between Courtland and Peachtree Center Ave. being rife with the "directions" hustlers looking for tourists and convention people from those hotels. If they used the tubes it would put a serious dent in the freelance wayfinding business.

[jurban8]

I love the Civil Rights Museum design because it really seems to engage the user from the outside in. Really it might be too good for the area, considering how it outshines the drek around it (looking at you World of Coke and parking garages...)

[smArTaLlone]

By RACHEL TOBIN RAMOS
The Atlanta Journal-Constitution
Thursday, March 26, 2009

Two leases in the Streets of Buckhead retail project are imperiled as the economy nudges some luxury retailers into troubled waters.

Ben Carter, chairman of Ben Carter Properties, the developer of the $1.5 billion project, said Thursday that an agreement with IT Holdings SpA, of Milan, Italy, is frozen. The company had committed two of its luxury brands to his project.

“That is put on hold right now because the parent company is in bankruptcy,” said Carter. “But they’re hopeful they’ll get through bankruptcy,” he said, noting it’s a Chapter 11 reorganization.

IT Holdings operates the Just Cavalli brand and Versace Sport, among others. Carter didn’t say which brands had been committed to the Buckhead project.

He did confirm he’s considering another delay — possibly until fall 2010 — to open the project. A spring 2010 opening is still possible, depending on what retailers want, he said.

Despite the “slippage” of the two leases from IT Holdings, he said, the first phase of the Streets of Buckhead is about 50 percent leased.

Full Article (http://www.ajc.com/business/content/business/stories/2009/03/26/streets_of_buckhead.html)

[trainiac]

There is one more tube coming... this time between the Marriot and the Hyatt.


Nice shortcut! Now you can only do it via Ivy Tower on the south side of the Hyatt, through the Peachtree Center food court then diagonally over Harris through Marquis One then to the Marriott.

Thank you for "honky tubes". Hilarious