Quote:
Originally Posted by joecool
Does the Hotel have a website with renderings or at least some info?
Any updates on the Mandarin Hotel or Trump? Are these totally dead or just on hold? I also remember seeing on here that someone bought the lot across from the High. Is something proposed for that spot?
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Tivoli Properties, the developer of Aqua on 10th, was supposed to build the Mandarin. That property, which is 1138 Peachtree, went back to the bank (First Citizens) this March. Tivoli still has the Mandarin up on their website, but that is a factor of not updating their website.
http://www.tivoli-properties.com/
The site across from Woodruff/the High was sold by Woodruff Arts Center to One Museum Place, LLC in January, 2007 for $17M. Doing some very basic research, the LLC is still active and they had a name reservation for their proposed condominium association back in 2007. The name reservation has expired. There were a few articles last year and in 2009 about a potential rebirth of the project, but nothing is happening now (and if something happens, I am bound to hear about it pretty quickly).
http://www.bizjournals.com/atlanta/stories/2010/04/12/story4.html
http://www.bizjournals.com/atlanta/stories/2008/05/19/story9.html
http://www.bizjournals.com/atlanta/stories/2008/02/11/story5.html
http://www.bizjournals.com/atlanta/stories/2007/11/12/daily17.html
Developer:
http://www.jwhomes.com/Whoweare.aspx
As for the Trump Towers, that is dead. The sales center is long closed and the property is being operated as a parking lot to at least generate some revenue to service the debt. The development partnerships are not dissolved because the developers are still active, but they have 1240 West Peachtree up for sale and JLL is listing it (this to the best of my knowledge).
http://www.bizjournals.com/atlanta/stories/2006/11/20/focus1.html
In that area keep in mind that most of the block where Einstein's is and Carolyn's is inward toward CosmoLava is owned by a group out of Winter Park, FL. They purchased it from the bank last year. Here is an excerpt from their website:
Avanti focuses its investment activities primarily on
•Three- to nine-year residential and commercial land, including parking lots and “teardown” buildings, acquired through short sales, recapitalizations, loan purchases and outright acquisitions
•Community Development District (CDD) bond purchases
•Land financing (three- to seven-year first and second mortgages, non-recourse loans)
I have noticed some demolitions and site work on the parcel recently.
The site where Novare is planning Skyhouse does not appear to have gone under contract yet as Paul Hanna's sign is still up. As soon as his sign comes down and it is no longer listed for sale on CoStar, we'll know Novare is serious about building their tower. I predict that will be a while.
Meanwhile, Daniel/Selig own their two additional parcels on Peachtree and next to Ra where their new building is going. That development is more imminent and a developer like that I'm sure wants to "break ground" in a time of fanfare and momentum. Perhaps the ground breaking for the hotel on Williams got the energy level up a little.