Atlanta Project Thread IV - Page 32

smArTaLlone · #**621** Posted **Mar 21, 2013, 3:22 PM**

I was looking at the Fulton property records map and noticed that over the last several years someone has assembled approximately all of this property outlined below. This would be a great spot for a residential midrise or two (10 -15 stories).

clexmond · #**622** Posted **Mar 21, 2013, 5:51 PM**

Quote:

Originally Posted by smArTaLlone

I was looking at the Fulton property records map and noticed that over the last several years someone has assembled approximately all of this property outlined below. This would be a great spot for a residential midrise or two (10 -15 stories).

Looks like it's owned by an attorney, Ephraim Spielman. I wonder if he has some aspirations to become a real estate developer.

TarHeelJ · #**623** Posted **Mar 22, 2013, 12:59 AM**

Quote:

Originally Posted by clexmond

Looks like it's owned by an attorney, Ephraim Spielman. I wonder if he has some aspirations to become a real estate developer.

Right now it seems like he's happy with being a slumlord.

drakon29 · #**624** Posted **Mar 22, 2013, 3:23 PM**

Quote:

Originally Posted by clexmond

Looks like it's owned by an attorney, Ephraim Spielman. I wonder if he has some aspirations to become a real estate developer.

Though its possible, its probably not owned by the attorney. The attorney is simply the registered agent for the LLC. This is a common way in which LLCs are set up. If you want to keep the ownership of the LLC secret, you put the LLC's attorney as the registered agent of the LLC. The attorney serves as the public face of the LLC and is the person who conducts all the business of the LLC. However, the ownership of the LLC is disguised because the attorney, unless authorized by their client, cannot disclose the identity of their client due to the attorney-client privilege.

clexmond · #**625** Posted **Mar 22, 2013, 5:50 PM**

Quote:

Originally Posted by drakon29

Though its possible, its probably not owned by the attorney. The attorney is simply the registered agent for the LLC. This is a common way in which LLCs are set up. If you want to keep the ownership of the LLC secret, you put the LLC's attorney as the registered agent of the LLC. The attorney serves as the public face of the LLC and is the person who conducts all the business of the LLC. However, the ownership of the LLC is disguised because the attorney, unless authorized by their client, cannot disclose the identity of their client due to the attorney-client privilege.

I thought that might be, but in that case usually it's the law firm that's reflected as the agent, not the individual. Also, the initial filing with the SoS shows that he had another attorney doing the filing.

I guess it's still possible it could be a shell, it just didn't look like it typically does.

drakon29 · #**626** Posted **Mar 22, 2013, 7:29 PM**

Quote:

Originally Posted by clexmond

I thought that might be, but in that case usually it's the law firm that's reflected as the agent, not the individual. Also, the initial filing with the SoS shows that he had another attorney doing the filing.

I guess it's still possible it could be a shell, it just didn't look like it typically does.

You could be right. I did a quick google search of his name and it seems he has some level of an ownership interest in the entity that owns the Medical Arts Building downtown.

smArTaLlone · #**627** Posted **Mar 23, 2013, 6:14 PM**

Quote:

Originally Posted by drakon29

You could be right. I did a quick google search of his name and it seems he has some level of an ownership interest in the entity that owns the Medical Arts Building downtown.

Sounds like it might just be an investment for this person(s). I can't imagine that rentals in the buildings on the properties is very lucrative particularly on property that I think has prime development potential.

smArTaLlone · #**628** Posted **Mar 24, 2013, 3:06 PM**

Quote:

http://www.bisnow.com/commercial-real-es...s-to-break-ground-on-piedmont-apt-tower/

Quote:

Sources tell us Atlanta-based Tivoli is planning to develop a high-rise apartment tower on its site at 13th Street near Piedmont Park. Tivoli would develop a 252-unit tower, we're told, and could move forward on the site by this spring. This would be revival of plans that Tivoli had previously announced in 2008. Tivoli was the developer of the condo tower Aqua in Midtown (above), where the company auctioned off the remaining unsold units in 2009. Calls to Tivoli were not returned as of press time.

I was having a conversation about this and was reminded that there was neighborhood opposition to this project when it was initially proposed. Does anyone remember if it got approved?

echinatl · #**629** Posted **Mar 24, 2013, 3:57 PM**

Quote:

Originally Posted by smArTaLlone

I was having a conversation about this and was reminded that there was neighborhood opposition to this project when it was initially proposed. Does anyone remember if it got approved?

I remember there being an issue with the spa next door but I think that was worked out... but by then the recession had taken hold and everything stopped. That is such a great spot, something cool needs to go in there.
Edit: Whoops I'm thinking of a totally different site off 10th. That's what I get for thinking I know what I'm talking about.

clexmond · #**630** Posted **Mar 24, 2013, 9:30 PM**

Quote:

Originally Posted by echinatl

I remember there being an issue with the spa next door but I think that was worked out... but by then the recession had taken hold and everything stopped. That is such a great spot, something cool needs to go in there.
Edit: Whoops I'm thinking of a totally different site off 10th. That's what I get for thinking I know what I'm talking about.

That was the lot on 10th next to the firestation. The Tivoli lot did run into resident push-back due to it having a higher density than per zoning. Tivoli was however purchasing rights from neighboring properties to allow them to exceed the density requirement. I believe in the end both these projects were mothballed due to the economy.

smArTaLlone · #**631** Posted **Mar 26, 2013, 5:33 PM**

Word on the street is that the Tivloi owned property on 13th is actually scheduled for forclosure next month. I'm not sure how this could have been confused with them moving forward on the project but it doesn't appear development on that site is imminent.

smArTaLlone · #**632** Posted **Mar 28, 2013, 8:57 PM**

I just read this in the comments on Midtown Patch.

Quote:

This Friday there was a surveyor on 13th street, that worked on the 3 properties that are across from the MAYFAIR, together with 2 properties on 12th street that back to them. He told me he does not who, but that there is an proposed Assembly of these 5 properties for 35 story tower across from the MAYFAIR, The work was ordered by Real Estate broker who put the deal together.

shivtim · #**633** Posted **Apr 2, 2013, 2:54 PM**

Fuqua has submitted a third application for the Glenwood site, after the first two were rejected. This one is just as bad as the first two. A sea of surface parking immediately adjacent to the Beltline and Glenwood Park.

https://drive.google.com/folderview?id=0BzhPwP7Vp7L6VVNONk01RHhUeGM&usp=sharing

bfarley30 · #**634** Posted **Apr 2, 2013, 3:40 PM**

Quote:

Originally Posted by shivtim

Fuqua has submitted a third application for the Glenwood site, after the first two were rejected. This one is just as bad as the first two. A sea of surface parking immediately adjacent to the Beltline and Glenwood Park.

https://drive.google.com/folderview?id=0BzhPwP7Vp7L6VVNONk01RHhUeGM&usp=sharing

This guy is an idiot! Why does the city even consider this mess? It doesn't look like nothing has been changed!!

smArTaLlone · #**635** Posted **Apr 2, 2013, 5:19 PM**

It doesn't look as if they've changed anything at all. Isn't this site one where the zoning in place was never changed to match the Beltline overlay guidelines? That might be and will continue to be the problem until the zoning is redone.

smArTaLlone · #**636** Posted **Apr 2, 2013, 9:56 PM**

These links take you to the 3D of Ponce City Market. Use your mouse to drag the view around the entire 3 dimensional building. Double click an orange sphere (hot spot) to watch a fly through video.

http://evolutionv.com/poncecitymarketretail/

atlantaguy · #**637** Posted **Apr 3, 2013, 4:01 AM**

Quote:

Originally Posted by shivtim

Fuqua has submitted a third application for the Glenwood site, after the first two were rejected. This one is just as bad as the first two. A sea of surface parking immediately adjacent to the Beltline and Glenwood Park.

https://drive.google.com/folderview?id=0BzhPwP7Vp7L6VVNONk01RHhUeGM&usp=sharing

No, no, NO! Jeff Fuqua is a complete idiot if he thinks this will pass. The neighborhoods need to go radical on his ass to ensure this becomes as huge a failure as Lindbergh was for him.

He will NEVER change unless forced to by zoning or massive opposition complete with serious threat of multiple lawsuits.

ChadK · #**638** Posted **Apr 3, 2013, 9:46 PM**

Quote:

Originally Posted by atlantaguy

No, no, NO! Jeff Fuqua is a complete idiot if he thinks this will pass. The neighborhoods need to go radical on his ass to ensure this becomes as huge a failure as Lindbergh was for him.

He will NEVER change unless forced to by zoning or massive opposition complete with serious threat of multiple lawsuits.

I want to know what idiot at FUQUA decided to highlight the giant parking lot (complete with 18 cars) in the rendering when they know the parking lot was the most obvious issue with the design. I mean it's right there front and center. This guy is a joke.

At least we can assume this rendition will fail as well.

Newnan_Eric · #**639** Posted **Apr 3, 2013, 9:56 PM**

Quote:

Originally Posted by smArTaLlone

These links take you to the 3D of Ponce City Market. Use your mouse to drag the view around the entire 3 dimensional building. Double click an orange sphere (hot spot) to watch a fly through video.

http://evolutionv.com/poncecitymarketretail/

These walk-throughs really bring the concept to life. Wow, just wow! There is nothing like this in Atlanta yet. I can't wait to visit it once it opens.

L.ARCH · #**640** Posted **Apr 4, 2013, 12:18 PM**

Quote:

Originally Posted by ChadK

I want to know what idiot at FUQUA decided to highlight the giant parking lot (complete with 18 cars) in the rendering when they know the parking lot was the most obvious issue with the design. I mean it's right there front and center. This guy is a joke.

At least we can assume this rendition will fail as well.

Haha... Good point! 18 cars and they don't even bother to show a single person walking around