ATLANTA | Development Thread V

[cabasse]

this popped up a few weeks back. it was a proposal out of a firm in dallas, which ended up losing if i remember reading correctly, as SOM was supposedly chosen by the developer.

hey atlantamustang, what page did you grab all these pics from? you're reposting the photo's direct link below, but that can be found by right-clicking the photo (and doesn't really tell anything)

[AtlantaMustang]

Originally Posted by BlueSangha

Where did these come from and what is the status of this project. And whatever happened to the MO-they were so adament about building it-yet nothing.

I don't know any of that. I just found the images on Google.
Here's the link http://www.spine3d.com/hks3d/

[cybele]

Well you have to wonder if building new towers would be a good deal for Midtown right now? There was a thing in the paper about the Campanile getting foreclosed on and only having 14% occupancy and the Promenade II maybe having to fill 460,000 sf by next summer when AT&T's lease runs out. So who knows.

[Stratosphere 2020]

Originally Posted by AtlantaMustang

http://www.spine3d.com/hks3d/gallery/1400%20Peachtree/1400-Peachtree-03.jpg


http://www.spine3d.com/hks3d/gallery/1400%20Peachtree/1400-Peachtree-02.jpg

Building looks sexy

[wjc]

I haven't been able to make a stop by Lindbergh but what are they turning the old Home Depot into?

I see that they are putting up a new face to the building!

[chrslyp]

is 1400 Peachtree a new proposal? or is this a building that has been in the works for quite sometime. i did a google search and didn't find much.

i also wanted to add my 2 cents to the marketing of the atlanta high rise condos. I actually studied the marketing practices by Novare Group (for my MBA) and actually found (in my opinion) that they do market towards "young professionals". However, after talking with several people about if their marketing to young professionals really resulted in young professionals buying into their buildings. an interesting thing i found is that a large number of those in their 40's, 50's and even 60's were buying into these buildings. (i'm strictly talking about ownership, no renters).

This got me thinking, did Novare market towards those in their 20's because that's who they HONESTLY believed was their market? i'm 26, love those types of developments, but can't really afford to live in those buildings, and don't know many of my friends outside of my lawyer/doctor friends who could. So, my thought was, they market towards the 20 somethings and by doing so, attract those in their 40s, 50s and 60s who want to feel young, and be a part of an exciting and vibrant neighborhood.

the vast majority of this is true in two of Novare's two Nashville towers, Viridian and Encore where i was guestimate that 80% of those who bought units were over 40.

[atl2phx]

chrslyp, i think your observations are a reflection of novare's and others marketing plans.

i believe they were marketing a LIFESTYLE targeted at those who are interested in living an urban/highrise lifestyle that 1) provided central access to atlanta's employment centers and cultural attractions and potentially reduced reliance on auto's or at least minimized commutes, and 2) served up a modern version of intown living popular in other urban markets that hadn't existed widely in atlanta for some time.

maybe it's a generation thing.....those in their 20's see the slick renderings, websites, e-mails and property features and find it appealing, so they assume "ah, this is meant for me", wheres those in their 30's, 40's and beyond may have had the same reaction. thus, my point that their target market was never as NARROW as a single demographic that was "young, well eductated, white collar and no kids", that's simply a shallow marketing view IMHO that excludes large chunks of atlanta's population that may only have one of those attributes (i.e. senior, well educated , retired and empty nesters), etc....

good info. thanks for sharing.

[jew4life4948]

Originally Posted by wjc

I haven't been able to make a stop by Lindbergh but what are they turning the old Home Depot into?

I see that they are putting up a new face to the building!

Almost positive it's going to be a discount furniture store....

[BlueSangha]

Originally Posted by jew4life4948

Almost positive it's going to be a discount furniture store....

You are correct-its call The Dump. They are adding 20k sqft. Its going to be huge!

[chrslyp]

Originally Posted by atl2phx

chrslyp, i think your observations are a reflection of novare's and others marketing plans.

i believe they were marketing a LIFESTYLE targeted at those who are interested in living an urban/highrise lifestyle that 1) provided central access to atlanta's employment centers and cultural attractions and potentially reduced reliance on auto's or at least minimized commutes, and 2) served up a modern version of intown living popular in other urban markets that hadn't existed widely in atlanta for some time.

maybe it's a generation thing.....those in their 20's see the slick renderings, websites, e-mails and property features and find it appealing, so they assume "ah, this is meant for me", wheres those in their 30's, 40's and beyond may have had the same reaction. thus, my point that their target market was never as NARROW as a single demographic that was "young, well eductated, white collar and no kids", that's simply a shallow marketing view IMHO that excludes large chunks of atlanta's population that may only have one of those attributes (i.e. senior, well educated , retired and empty nesters), etc....

good info. thanks for sharing.

i think you hit the nail on the head with your post.

i believe, however, (you may too) that several people might think they are targeting those in their 20's primarily because that's who they use in all their marketing materials. typically, an advertisement will use the same demographic as the people their targeting. you're point still rings true, however, i would be curious of my perception of Novare's Viewpoint if the marketing material i was receiving featured "older people" having a good time instead of a group of good looking 20-somethings.

it is a very interesting topic though.

[micropundit]

Cities included in World Cup bid
By Doug Roberson


The Atlanta Journal-Constitution

4:53 p.m. Tuesday, January 12, 2010

The 18 cities that will be included in the United States' bid to host the World Cup in 2018 or 2022:

• Atlanta

• Baltimore

• Boston

• Dallas

• Denver

• Houston

• Indianapolis

• Kansas City, Mo.

• Los Angeles

• Miami

• Nashville, Tenn.

• New York

• Philadelphia

• Phoenix

• San Diego

• Seattle

• Tampa

• Washington, D.C.

[gttx]

Wow - Chicago is conspicuously left off that list.

[jew4life4948]

Originally Posted by gttx

Wow - Chicago is conspicuously left off that list.

Wow, you sunk my battleship.

Olympic Failure!

[alleystreetindustry]

Originally Posted by AtlantaMustang

http://www.spine3d.com/hks3d/gallery/1400%20Peachtree/1400-Peachtree-03.jpg

i am really hoping the post on their website is just for portfolio purposes, because i am also really hoping som pulls off something magical for north midtown. they never really have failed atlanta with their previous towers.

[AtlantaMustang]

Originally Posted by alleystreetindustry

i am really hoping the post on their website is just for portfolio purposes, because i am also really hoping som pulls off something magical for north midtown. they never really have failed atlanta with their previous towers.

I agree, while this building looks very nice, I am really hoping for something spectacular from som.

[gttx]

Originally Posted by alleystreetindustry

they never really have failed atlanta with their previous towers.

which towers in atlanta did SOM do? i can't think of any beyond Equitable and the GP tower.

[Fiorenza]

Wow - Chicago is conspicuously left off that list.

And, San Fran.

[BlueSangha]

Did anyone know that the Brookwood went into foreclosure and was sold for $109 m? Saw it on wsbtv tonight and I'll be damned if I can't find the info on it.

[atl2phx]

Originally Posted by BlueSangha

Did anyone know that the Brookwood went into foreclosure and was sold for $109 m? Saw it on wsbtv tonight and I'll be damned if I can't find the info on it.

the brookwood was one of the assets bought by starwood capital after coro bank failed. coro was a big investor in novare as well.

read a few pages back, the scenario has been discussed a little bit.

[pdpmishap]

Originally Posted by atl2phx

the brookwood was one of the assets bought by starwood capital after coro bank failed. coro was a big investor in novare as well.

read a few pages back, the scenario has been discussed a little bit.

Coro is an Atlanta based real estate consulting firm while Corus Bank was a Chicago bank that funded 19 condo projects in Atlanta alone as well as dozens more in Florida and elsewhere. The names do sound similar but Corus Bank's claim to fame was a multi billion dollar portfolio exclusively made up of condo projects.

I believe the Atlantic and the Brookwood were non-recourse loans meaning they couldn't chase Novare or Regent for the balance once the buildings were completed and the keys were handed over.

http://atlanta.bizjournals.com/atlanta/blog/2010/01/intown_condo_values_resetting.html