ATLANTA | Development Thread V

[shivtim]

Streetcar update:

source

[Nanosolar]

Originally Posted by simms3_redux

Also, I like the PCM setting more. I have a feeling that parts of Buckhead Atlanta will look a little "schmultzy", if not "stucco-y" if you catch my drift. I'll be pleasantly surprised if it's not.

I agree with you, but this is the South, and there are large contingents of wealthy people around the SE, and the country, that prefer that shopping environment to the more 'granola' retrofitting style. Demand seems to exist for both in Atlanta, so I think both will be successful.

[Eightball]

Streetcar is coming along nicely.

I like the construction pics quite a bit but honestly prefer the debates.

[Terminus]

From today's ABC:

A Dallas developer is planning the latest residential project on the Midtown Mile.

JLB Partners L.P. has a 1.8-acre undeveloped site on AT&T Inc.’s Midtown campus under contract. JLB plans to go before Midtown Alliance staff in coming weeks to fine-tune the project’s design. For now, it could range from 280 to 300 units and from eight to 10 stories.

I'm happy to hear about this as that site is a gap in the urban fabric that really needs to be filled in.

[echinatl]

Originally Posted by Terminus

From today's ABC:

A Dallas developer is planning the latest residential project on the Midtown Mile.

JLB Partners L.P. has a 1.8-acre undeveloped site on AT&T Inc.’s Midtown campus under contract. JLB plans to go before Midtown Alliance staff in coming weeks to fine-tune the project’s design. For now, it could range from 280 to 300 units and from eight to 10 stories.

I'm happy to hear about this as that site is a gap in the urban fabric that really needs to be filled in.

So I'm assuming the site is the SW corner of Peachtree and 5th since it's the only vacant lot?

[bigstick]

Originally Posted by echinatl

So I'm assuming the site is the SW corner of Peachtree and 5th since it's the only vacant lot?

I hate facebook, but if you guys have time go here and like their page.


https://www.facebook.com/SkyViewAtlanta?fref=ts

[ChrisInmanPark]

Not exactly construction news on Krog Street Market, but here is the latest on what is, or may be going in the development. It's turning out to be quite international.

From Eater Atlanta

Krog Street Market is set to open soon, and rumors are spreading about what's coming in to the Inman Park project. Here, now, our favorite rumors, be they from the mouths of chefs themselves or very exciting but also very unconfirmed. Let's get right to it, but first, readers, tipsters, restaurant folks, please do send your own intel through the tipline. As always, anonymity is 100% guaranteed.

· Word is that the Spotted Trotter has a restaurant coming into the Krog Street development. More word comes that the Kirkwood charcuterie also has plans to open a market in the space.

· Apparently, chef Asha Gomez of Cardamom Hill is in talks to open an Indian/Southern fusion restaurant in Krog Street Market. Tipsters hypothesize that her chef de cuisine, Omar Powell, will be involved as well.
Update: Omar Powell is no longer with Cardamom Hill, so what will happen to this Krog Street space remains to be seen.

· Pannus Bakery, which has its wholesale first location in Lawerenceville, wants to open an international bakery in Krog Street Market. They plan to offer Hispanic baked goods and products from countries like Mexico, Argentina, and El Salvador, as well as items from Europe and beyond and hope to open by November.

· Inman Park Ford Fry enthusiasts may have an Austin, Texas-style Mexican joint to look forward to. It's rumored to have a large patio and maybe even a stage for live music.

· We've heard that popular breakfast spot Home Grown is looking at the Inman Park market as well. If all goes as the rumors say, there will soon be two places where you can get their basically iconic comfy chicken biscuit.

· Inside sources let us know that a low-key burger and shake joint is also on tap for the market and that it may or may not be spearheaded by the team behind one of the city's most well-known food trucks.

· Jury is still out on whether or not the lease is officially signed, but Guy Wong is moving forward as if he's got the green light for his ramen and yakitori bar, TON TON. According to Facebook, he plans to open in early 2014.

· And, finally, it's been oft-rumored that Buford Highway favorite, Gu's Bistro, intends to open a second location in Krog Street Market as well.

http://atlanta.eater.com/archives/2013/0...z-homegrown-the-spotted-trotter-more.php

[delarosa]

Originally Posted by echinatl

So I'm assuming the site is the SW corner of Peachtree and 5th since it's the only vacant lot?

Could they mean the parking lot across from the old BellSouth bldg behind the Fox? On Ponce and W.Pchtree/Spring? Not sure if they own that lot or if it's considered part of their campus, but seems larger than the space on 5th and would think at some point that has to be a prime location for development.

[simms3_redux]

^^^I think it's probably the same lot that Healey Weatherholtz had plans for originally, along 5th. JLB is the same group that did Village at Buckhead apartments...they shot for $1.85psf average effective rents and must have hit it or killed it there. Unfortunately for those of us who like to be picky and complain, JLB has only done stuff like Village at Buckhead - they've never done an urban midrise in an environment like Midtown (if you check out their website...could be misleading though). I would be concerned that we'll have a $2 chuck "cheap" stucco midrise on Peachtree from them. I'm at the point where with the gradual direction Midtown's now going, holding off on Peachtree frontage developments for only the best is preferable (I'd rather see $3psf rent rates on P'tree allowing for much higher quality development...actually I don't really want to see rentals directly on P'tree at all!)

[Terminus]

Originally Posted by delarosa

Could they mean the parking lot across from the old BellSouth bldg behind the Fox? On Ponce and W.Pchtree/Spring? Not sure if they own that lot or if it's considered part of their campus, but seems larger than the space on 5th and would think at some point that has to be a prime location for development.

There's only one vacant lot at Peachtree and 5th and it's the southwest corner.

When I worked at the City we had approved plans for a twin Bellsouth building on the site (to mirror the one at Peachtree and 4th) when they came in for approval of their campus. It was never intended to be a permanent greenspace.

[delarosa]

Originally Posted by Terminus

There's only one vacant lot at Peachtree and 5th and it's the southwest corner.

When I worked at the City we had approved plans for a twin Bellsouth building on the site (to mirror the one at Peachtree and 4th) when they came in for approval of their campus. It was never intended to be a permanent greenspace.

Any idea if ATT owns the lot across from the bldg at W. Pchtree and Ponce or is that owned by someone else? Really would be surprising if that site hasn't had at least some consideration for development...frontage on W. Pchtree, Spring and Ponce...across the street from a MARTA station, ATT building and only a few blocks from the Ga Tech developments. I'm sure that parking company makes decent profit there, but still...

[Terminus]

Originally Posted by delarosa

Any idea if ATT owns the lot across from the bldg at W. Pchtree and Ponce or is that owned by someone else? Really would be surprising if that site hasn't had at least some consideration for development...frontage on W. Pchtree, Spring and Ponce...across the street from a MARTA station, ATT building and only a few blocks from the Ga Tech developments. I'm sure that parking company makes decent profit there, but still...

I'm not sure. You can look it up on the Fulton County Tax Assessor's website. It might be out of date, but is better than nothing.

[Libertarian]

Edgy Edgewood

http://www.businessinsider.com/startup-dashboard-transforms-atlanta-neighborhoods-2013-6

[ChrisInmanPark]

Bohemian House in Old Fourth Ward coming along. At least you can't see the massive parking deck anymore.

[simms3_redux]

Originally Posted by Terminus

I'm not sure. You can look it up on the Fulton County Tax Assessor's website. It might be out of date, but is better than nothing.

The entire Midtown campus was sold recently (a couple months ago).

http://www.bizjournals.com/atlanta/real_talk/2013/04/midtown-att-towers-sell-for-225.html

I worked on a case study for the original acquisition by KanAm, so I believe their sale includes that development land...German closed-end fund liquidating, they wouldn't hold onto anything there. So I wonder if purchaser (according to article it's MacFarlan - not familiar with them but the investment strategy on their website does not indicate that they do new development or anything other than office/industrial) is offloading this land to JLB, who is exclusively a sunbelt multifamily developer. Both MacFarlan and JLB are based in Dallas, so I bet there is a relationship there.

[ATLaffinity]

Originally Posted by simms3_redux

I'm at the point where with the gradual direction Midtown's now going, holding off on Peachtree frontage developments for only the best is preferable (I'd rather see $3psf rent rates on P'tree allowing for much higher quality development...actually I don't really want to see rentals directly on P'tree at all!)

Dewberry thinking.

Boy, they would have to be dog feces for me not to want them to happen given how dead that part of Midtown is.

[simms3_redux]

Originally Posted by ATLaffinity

Dewberry thinking.

Boy, they would have to be dog feces for me not to want them to happen given how dead that part of Midtown is.

Dewberry has the whole block...I'd like to see him activate the Juniper side and cover some of that surface parking, but I don't completely disregard his holding off to do something truly great on the Peachtree side (which is risky no matter when you start a project like that in Atlanta, let alone when office leasing, rents, and rent growth hasn't yet reached the point of justifying new construction and you still need that anchor or two to pre-lease your building to 60+%).

Whatever is built on Peachtree we have to live with going forward (case in point - Viewpoint was great at the time it was proposed, approved and constructed, but look at the challenges it has posed now from retail leasing and aesthetic perspective, especially with that hulking garage - typical Novare VE design, which is OK for the new towers they are building OFF of Peachtree now, but we've already seen how we don't like that stuff ON Peachtree).

Atlanta won't be like Chicago, but this is Peachtree St - it's supposed to trend towards Michigan Ave there, or some of the avenues in NYC, Market St in SF, Walnut St in Philly, Boylston St in Boston, 5th in Seattle, Yonge or Bloor in Toronto, in terms of vibrancy, urbanity, design, density, quality, front door showcase, etc etc.

[Libertarian]

Simms, I admire your knowledge and romantic ideas (really), but you're fighting the last war. There's no future for Michigan Avenue or those other retail streets that you mention - they're all dead and dying in this culture. That train has already left the station. Retail niches will still abound in ATL in the Westside and even Atlantic Station due to managed environment and parking. Hopefully Midtown will support a lot of professional and tech jobs as well as residential projects, but mass retail, no. As far as signature office towers - maybe one or two (Dewberry and Daniel/Selig) but that's it.

Sorry, as they say this is not the place for extended discussions so I'm backing off.

[bigstick]

Dewberry is a JOKER.............

[A-town]

List of top 75 commercial centers across the world. Interesting where Atlanta ranked, and more importantly who we out ranked. Because some of the cities we're touting as having better grids, and transpiration options are behind us on this list. Maybe the world has a bigger and better perception of us than we realize.

http://en.wikipedia.org/wiki/Worldwide_Centres_of_Commerce_Index