ATLANTA | Development Thread V

[clexmond]

Originally Posted by briantech

What projects are there that are still under construction that are say 20+ stories?

- 100 6th st

... anything else? things seem to have dried up a bit in respect to taller buildings.

That's it as far as I know, but I wouldn't be surprised if there's a new 20+ going through permitting in the next couple months on 13th.

[Blueiguy84]

Hey everyone just wanted to let you know of some interesting stuff you don't see every day. Just got this email from our association. Windsor Over Peachtree Residents:

Midwest Helicopter, Inc. and Syncreon will conduct a helicopter lift operation at our location on Monday, May 20th, between the hours of 11:00 am to 12:00 pm. The building has cell phone tower/cabinets on the roof that they will replace. We ask your assistance and cooperation in vacating the top floor (PH Floor) of the building during the actual lift time of operation, which will last approximately 15 minutes. Please be advised that while
the total time of the job may only take fifteen minutes, no vehicles or pedestrian traffic (foot traffic) will be allowed to travel directly under the helicopter flight path – while the work in in progress. Once the work is completed, all access will be reopened.

Should be pretty cool to watch.

[Nanosolar]

No new skyscraper announcements. What's the problem??? I thought office space ITP was getting full and apartments were needed...

[bryantm3]

Originally Posted by Nanosolar

No new skyscraper announcements. What's the problem??? I thought office space ITP was getting full and apartments were needed...

I would guess that due to the recent uptick in apartment development, there is a wait-and-see approach being taken. At least 3 high rise apartment buildings just went on the market in midtown; that's big. I would suppose that many companies have plans in the works, but they're holding off to see whether the novare and 12th and midtown developments are really going to sell out like expected. Wait a few months and you'll see development like you never expected.

[bigstick]

I agree, by the end of this year there will be cranes all over the place.

[micropundit]

The mixed-use project that could transform the commercial heart of Inman Park is expected to break ground as early as July. Developers behind the 280 Elizabeth St. project expect the $45 million complex will be completed in the third quarter of next year, joining a groundswell of rental, dining and retail options in the area. Positioned about a block from the Beltline's Eastside Trail, the 3.4-acre property is bounded by Elizabeth Street, North Highland and Lake avenues and the Inman Park Village project.





[Future corner of Elizabeth Street and Highland Avenue, near Fritti and Pure restaurants}




[Elizabeth Street, near the current Victory Sandwich location}



[Public "green corridor" and restaurant valet.}


http://atlanta.curbed.com/archives/2013/...lopment-vision-unveiled-at-last.php#more

[Nanosolar]

Originally Posted by micropundit

The mixed-use project that could transform the commercial heart of Inman Park is expected to break ground as early as July. Developers behind the 280 Elizabeth St. project expect the $45 million complex will be completed in the third quarter of next year, joining a groundswell of rental, dining and retail options in the area. Positioned about a block from the Beltline's Eastside Trail, the 3.4-acre property is bounded by Elizabeth Street, North Highland and Lake avenues and the Inman Park Village project.

What no pictures of the 570 car parking deck?!?!

[L.ARCH]

That is one good lookin project! My favorite part is the connection to the park, which right now is kind of hard to find... Good stuff.

[simms3_redux]

Very good looking design...love the clean white lines that will contrast with the more industrial corrugated steel/brick look that so far defines the village.

[simms3_redux]

Originally Posted by bryantm3

I would guess that due to the recent uptick in apartment development, there is a wait-and-see approach being taken. At least 3 high rise apartment buildings just went on the market in midtown; that's big. I would suppose that many companies have plans in the works, but they're holding off to see whether the novare and 12th and midtown developments are really going to sell out like expected. Wait a few months and you'll see development like you never expected.

Skyhouse has exceeded rent/timing expectations/underwriting by a material amount. Not as familiar with 77 12th though I believe they believed they could get north of $4K for their top floor 2BRs and not sure they currently feel that way. Will undoubtedly be more expensive than Skyhouse has leased up at, but I have a feeling that they are now projecting more their base case scenario in terms of rent (I think they are probably exceeding pre-leasing expectations in regards to timing). Novare is fast out of the ground with 100 6th with virtually the same underwriting, so I believe that they are fully confident that they will exceed underwriting again, but I think we'll see the leasing velocity slowdown during the 12 months that 100 6th leases up and Faison's project at Ponce leases up.

Midtown has to compete with the Eastside, the Westside, Buckhead to a degree, and Inman Park. I think the cool factor still lies outside of Midtown, understandably. Not everyone wants to live down the street from their office building and most would probably prefer a place along the Beltline down the street from the better bars/restaurants less frequented by the bridge and tunnel folks that inundate Midtown (and invariably end up living there).

[NYbyWAYofGA]

Originally Posted by micropundit

The mixed-use project that could transform the commercial heart of Inman Park is expected to break ground as early as July. Developers behind the 280 Elizabeth St. project expect the $45 million complex will be completed in the third quarter of next year, joining a groundswell of rental, dining and retail options in the area. Positioned about a block from the Beltline's Eastside Trail, the 3.4-acre property is bounded by Elizabeth Street, North Highland and Lake avenues and the Inman Park Village project.





[Future corner of Elizabeth Street and Highland Avenue, near Fritti and Pure restaurants}




[Elizabeth Street, near the current Victory Sandwich location}



[Public "green corridor" and restaurant valet.}


http://atlanta.curbed.com/archives/2013/...lopment-vision-unveiled-at-last.php#more

This is one SHARP lookin design!

[clexmond]

Originally Posted by simms3_redux

Skyhouse has exceeded rent/timing expectations/underwriting by a material amount. Not as familiar with 77 12th though I believe they believed they could get north of $4K for their top floor 2BRs and not sure they currently feel that way. Will undoubtedly be more expensive than Skyhouse has leased up at, but I have a feeling that they are now projecting more their base case scenario in terms of rent (I think they are probably exceeding pre-leasing expectations in regards to timing). Novare is fast out of the ground with 100 6th with virtually the same underwriting, so I believe that they are fully confident that they will exceed underwriting again, but I think we'll see the leasing velocity slowdown during the 12 months that 100 6th leases up and Faison's project at Ponce leases up.

Midtown has to compete with the Eastside, the Westside, Buckhead to a degree, and Inman Park. I think the cool factor still lies outside of Midtown, understandably. Not everyone wants to live down the street from their office building and most would probably prefer a place along the Beltline down the street from the better bars/restaurants less frequented by the bridge and tunnel folks that inundate Midtown (and invariably end up living there).

Wow, hate on Midtown much? People live in Midtown because they can bike and walk to work / school. They can walk to 3 different MARTA stops, to Piedmont Park, to the Beltline and to most of their errands. As for your little homeless swipe, are you really extrapolating one or two blocks across the entire neighborhood?

[simms3_redux]

^^^I wasn't just hating on Midtown (I think the opposite) and I never mentioned homeless - there are hardly any in Midtown. Bridge & tunnel = "non-sophisticated suburbanite", but could also mean unruly crowd from elsewhere in metro. Not used in Atlanta, but a term used in NYC and SF (must take bridge or tunnel to get into city). Here in SF it could mean backwards baseball cap crowd from SJ or unruly crowd from the East Bay, likewise in Atlanta it could mean backwards baseball cap crowd from Fayette County or unruly crowd from Clayton County or non-alumni UGA sweatshirt wearing crowd from Gwinnett, etc.

[scania]

Originally Posted by simms3_redux

^^^I wasn't just hating on Midtown (I think the opposite) and I never mentioned homeless - there are hardly any in Midtown. Bridge & tunnel = "non-sophisticated suburbanite", but could also mean unruly crowd from elsewhere in metro. Not used in Atlanta, but a term used in NYC and SF (must take bridge or tunnel to get into city). Here in SF it could mean backwards baseball cap crowd from SJ or unruly crowd from the East Bay, likewise in Atlanta it could mean backwards baseball cap crowd from Fayette County or unruly crowd from Clayton County or non-alumni UGA sweatshirt wearing crowd from Gwinnett, etc.

Oddly enough, I understand and agree with most of your point. But I don't think Fayette County is in that category. Also, people should not be mistaken about all the residents in Midtown. That same kind of people you are referring to, live in Midtown as well. Like 179 11th St., for example.

[scania]

Originally Posted by simms3_redux

Very good looking design...love the clean white lines that will contrast with the more industrial corrugated steel/brick look that so far defines the village.

Exactly!!! This is exciting for that area.

[Frankster87]

Originally Posted by simms3_redux

Very good looking design...love the clean white lines that will contrast with the more industrial corrugated steel/brick look that so far defines the village.

Great to hear from you again, Simms! Your posts were always so informative around here. Hope things are going well for you in SF. Don't be a stranger!

[bryantm3]

Originally Posted by simms3_redux

^^^I wasn't just hating on Midtown (I think the opposite) and I never mentioned homeless - there are hardly any in Midtown. Bridge & tunnel = "non-sophisticated suburbanite", but could also mean unruly crowd from elsewhere in metro. Not used in Atlanta, but a term used in NYC and SF (must take bridge or tunnel to get into city). Here in SF it could mean backwards baseball cap crowd from SJ or unruly crowd from the East Bay, likewise in Atlanta it could mean backwards baseball cap crowd from Fayette County or unruly crowd from Clayton County or non-alumni UGA sweatshirt wearing crowd from Gwinnett, etc.

i kind of agree— although midtown is urbanizing quickly, there's no cool neighbourhoods there yet, no record stores, no good and cheap bars, etc. it seems to be becoming another buckhead, for the rich and famous with bland taste. however, i don't think it's going to be permanently like that. right now the demand is so damned high for apartments in midtown, these places can afford to charge 4k rents when they open. eventually when midtown fills out, there will be a lot larger variety of rents and you'll see a more interesting crowd.

[clexmond]

Originally Posted by simms3_redux

^^^I wasn't just hating on Midtown (I think the opposite) and I never mentioned homeless - there are hardly any in Midtown. Bridge & tunnel = "non-sophisticated suburbanite", but could also mean unruly crowd from elsewhere in metro. Not used in Atlanta, but a term used in NYC and SF (must take bridge or tunnel to get into city). Here in SF it could mean backwards baseball cap crowd from SJ or unruly crowd from the East Bay, likewise in Atlanta it could mean backwards baseball cap crowd from Fayette County or unruly crowd from Clayton County or non-alumni UGA sweatshirt wearing crowd from Gwinnett, etc.

Well, chalk that up to a misunderstanding then. I assumed you were referring to people who lived under bridges and in tunnels. Hah, my bad!

[atlantaguy]

Originally Posted by micropundit

The mixed-use project that could transform the commercial heart of Inman Park is expected to break ground as early as July. Developers behind the 280 Elizabeth St. project expect the $45 million complex will be completed in the third quarter of next year, joining a groundswell of rental, dining and retail options in the area. Positioned about a block from the Beltline's Eastside Trail, the 3.4-acre property is bounded by Elizabeth Street, North Highland and Lake avenues and the Inman Park Village project.





[Future corner of Elizabeth Street and Highland Avenue, near Fritti and Pure restaurants}




[Elizabeth Street, near the current Victory Sandwich location}



[Public "green corridor" and restaurant valet.}


http://atlanta.curbed.com/archives/2013/...lopment-vision-unveiled-at-last.php#more

This is just fantastic! The neighborhood has come so far, so fast. Add in Krog Street and the area is going to be amazing. It's becoming hard to visualize how it was just a few years ago when the Mead plant was still there. We need transit on the BeltLine now!

[atlantaguy]

Originally Posted by clexmond

Well, chalk that up to a misunderstanding then. I assumed you were referring to people who lived under bridges and in tunnels. Hah, my bad!

Yeah, "bridge & tunnel" is basically the NY/SF version of "OTP."