ATLANTA | Development Thread V - Page 247

1010 · #**4921** Posted **Jun 28, 2012, 11:43 PM**

The more I learn about 77 12th, the better it sounds. Compared to 1010, the con is all units will have carpet vs. hardwoods in the living area. But the upside compared to 1010 is all condos will have glass balconies, upgraded countertops, remote controlled blackout blinds in all bedrooms, an incredible amenity package, etc. 77 12th appears nicer than Skyhouse, but also a bit more expensive, as 2 bedrooms are expected to run between $2500 - $3300 per month. Given current supply of luxury high rise rental units in Midtown (there are few to none), this seems justifiable, but once Novare and Daniel release all these luxury apartments at once, am wondering if there may be too much supply to justify these rent rates. Also wondering how this will impact the values of condos at 1010 and other similar properties.

ATLaffinity · #**4922** Posted **Jun 29, 2012, 2:40 AM**

Quote:

Originally Posted by 1010

The more I learn about 77 12th, the better it sounds. Compared to 1010, the con is all units will have carpet vs. hardwoods in the living area. But the upside compared to 1010 is all condos will have glass balconies, upgraded countertops, remote controlled blackout blinds in all bedrooms, an incredible amenity package, etc. 77 12th appears nicer than Skyhouse, but also a bit more expensive, as 2 bedrooms are expected to run between $2500 - $3300 per month. Given current supply of luxury high rise rental units in Midtown (there are few to none), this seems justifiable, but once Novare and Daniel release all these luxury apartments at once, am wondering if there may be too much supply to justify these rent rates. Also wondering how this will impact the values of condos at 1010 and other similar properties.

They really getting $3k month? I've been out of the rental market for years. Is that in line for this city?

simms3_redux · #**4923** Posted **Jun 29, 2012, 4:16 AM**

^^^2BRs above the Loews are going for $5500-$6500+/mo. The Atlantic, now that it is rentals, is also not cheap, but hardly a competitor to 77 12th because you're talking two different products in 2 completely different areas.

Atlanta has reached $2/SF status, but that is still cheap compared to Boston and even Miami. Rent growth has been absurd the last couple years.

bigstick · #**4924** Posted **Jun 30, 2012, 1:08 PM**

It really seems like 77-12th has some issues and just seem to be crawling along?????

Tuckerman · #**4925** Posted **Jun 30, 2012, 1:19 PM**

Can't agree on 77 and slowness. It seems like a much more complex structure than the Novare bldg. It is moving at a slower pace, but I think the competition for rents in that closer in area is different from skyhouse.

BlueSangha · #**4926** Posted **Jun 30, 2012, 1:23 PM**

Quote:

Originally Posted by Tuckerman

Can't agree on 77 and slowness. It seems like a much more complex structure than the Novare bldg. It is moving at a slower pace, but I think the competition for rents in that closer in area is different from skyhouse.

I agree, quality takes time. Besides, once the apt floor start going up, it will go much faster.

simms3_redux · #**4927** Posted **Jun 30, 2012, 3:12 PM**

Mi Cocina buildout at corner of 11th and P'tree is now happening. New bar UC across from 77 12th on 12th St. Leasing office for 77 12th appears open now, next to old Noon spot between Ri Ra and Ra. Garage for Skyhouse should be complete this week, balconies going up on facade.

1010 · #**4928** Posted **Jun 30, 2012, 3:36 PM**

Construction was officially delayed on 77 12th which is part of the reason why it's not moving faster - agree that quality takes time - have lived in both a Novare and Daniel Corp building and the two are light years apart from a quality and design perspective (Daniel Corp wins on everything, including the concierge staff)

joecool · #**4929** Posted **Jun 30, 2012, 3:47 PM**

Any news on new projects? Skyhouse and 77 12th have my juices going again and I'm craving more!!! lol

1010 · #**4930** Posted **Jun 30, 2012, 3:56 PM**

They're about to start on another luxury apartment high rise adjacent to Viewpoint Midtown - which will really impact supply and rent rates in the Midtown area

Tuckerman · #**4931** Posted **Jun 30, 2012, 6:44 PM**

High rise housing is picking up ; now we need some tall office buildings; time to fill out Allen Plaza and some other spots. Although office space is not needed at the moment, I hope we don't go through that period of wait until there is a shortage and then overbuild.

simms3_redux · #**4932** Posted **Jun 30, 2012, 6:59 PM**

Quote:

Originally Posted by 1010

Construction was officially delayed on 77 12th which is part of the reason why it's not moving faster - agree that quality takes time - have lived in both a Novare and Daniel Corp building and the two are light years apart from a quality and design perspective (Daniel Corp wins on everything, including the concierge staff)

I recently heard Steve Baile of Daniel speak and he never mentioned delays (though if I remember correctly someone asked about the timing). Where have you heard this? The cranes were moving today (though I'll admit my limited knowledge of construction and of that site pre-construction tells me that the slowness is not all because of "quality", because truth be told this building isn't too radically different from Skyhouse from a construction standpoint).

ChadK · #**4933** Posted **Jun 30, 2012, 9:52 PM**

Quote:

Originally Posted by simms3_redux

Garage for Skyhouse should be complete this week, balconies going up on facade.

I'm actually really curious about the SH parking garage (I made a point to walk to it today from Peachtree in 104º heat)... it's currently an L shape rather than a rectangle. I'm hoping they reconfigured the Spring St. corner to include even more retail space, but I honestly don't know how these structures are built (I imagine they would be floor-by-floor). But if it is to be a rectangle, and it's currently only 3/4 constructed, I can't see them finishing the garage this week. Any insight?

simms3_redux · #**4934** Posted **Jul 3, 2012, 1:13 AM**

Some photos I snapped on Saturday when it was 106 out and everyone was hunkered down.

Mi Cocina starting buildout at 11th and Peachtree. Cafe Intermezzo will start their buildout across the street soon (and it will look AWESOME according to the architectural rendering I have seen).

Hyatt Midtown (conversion). Too lazy to search for a rendering...well n/m here we go...

$21M for new skin, redone lobby, meeting space/restaurant reconfiguration (restaurant will open onto 10th St), and upgraded rooms of course.

Mamano's urban grocer:

micropundit · #**4935** Posted **Jul 3, 2012, 4:01 AM**

July 11, the Georgia MultiModal Passenger Terminal team will provide the “first look” at the three alternative sites under consideration for the location of the proposed multimodal station.

The team will present different design sketches for the station, including elevations and street crossings at the public meeting, which will be held at 6 p.m. at the City of Atlanta’s Department of Watershed Management at 72 Marietta St. NW (the former home of the Atlanta Journal-Constitution), which is adjacent to where the station would be located.

At the meeting, the team will discuss what makes the different options feasible. They also will talk about the process of planning the station, public participation and the next steps. The public also will be able to make comments about the various alternatives.

The speakers and the team members who will participate in the meeting are:

· Jim Richardson, senior vice president/project manager for master developer FIC – Forest City Enterprises, The Integral Group and Cousins Properties Incorporated (transit and redevelopment)

· Ed Campbell, assistant vice president, Parsons Brinckerhoff (rail systems)

· Rob Ross, project manager at Kimley-Horn and Associates Inc. (bus and transportation network)

· John Schuyler, principal/architect, Cooper Carry (architecture and urban planning) in association with FXFOWLE (station design and urban planning

http://saportareport.com/blog/2012/07/15535/

bigstick · #**4936** Posted **Jul 3, 2012, 1:17 PM**

Thank simms3 redux, for keeping us up to date.................

jnihiser · #**4937** Posted **Jul 3, 2012, 1:36 PM**

jnihiser · #**4938** Posted **Jul 3, 2012, 1:52 PM**

This is the Emory Pointe Development:

This is also the Emory Pointe Development:

Does anyone know what's going in here? It's the corner of Ellsworth Ind. and Chattahoochee Ave.

ChrisInmanPark · #**4939** Posted **Jul 3, 2012, 4:07 PM**

Not that sexy, but two, new big apartment projects going up in Buckhead and Sandy Springs. Both tear downs of old crappy apartment complexes.

http://www.bizjournals.com/atlanta/print...proposed-for-sandy-springs.html?page=all

http://buckhead.patch.com/articles/major-apartment-project-set-to-replace-georgian-hills

jnihiser · #**4940** Posted **Jul 3, 2012, 4:18 PM**

Quote:

Originally Posted by ChrisInmanPark

Not that sexy, but two, new big apartment projects going up in Buckhead and Sandy Springs. Both tear downs of old crappy apartment complexes.

http://www.bizjournals.com/atlanta/print...proposed-for-sandy-springs.html?page=all

http://buckhead.patch.com/articles/major-apartment-project-set-to-replace-georgian-hills

That 2nd link is pretty sexy. Living on this side of town, this will be a nice shift.