ATLANTA | Development Thread V

[thebigATL]

Originally Posted by ATL_J

The renderings are from two different firms making their proposals for the developers. Cooper Carry's is the top, although it isn't a rendering, just a model, and Ai3's is obviously the bottom three pictures. Cooper Carry ended up with the "job". From everything I have heard, this project is as good as dead, and they're looking to do something else with the space. Basically, what I am saying, is that this isn't a "before and after" but rather two firms making proposals to a development company, they went with Cooper Carry, Ai3 has obviously put out their rendering on their website (its a nice rendering), but the project is dead.

What happend to the time square south
I was expecting to see this development happen.

QUESTIONS

Any latest news about 1138 peachtree or 777 spring????
Any new towers that I do not know about???


Oh year I had a thought that we need a huge iconic sculpture like a 400 ft tall moving halogram.somewhere in our skyline. Something that will bring something to the city like (st louis. Arch)statue of liberty) and a tower like empire state building. Do anybody agree?

[clexmond]

Originally Posted by cabasse

^ lol. it actually kinda does. oh well, i give it a pass because it's midtown. if (something like) it was going up in buckhead i'd be all over it though

;-)

That tower looks no worse than Mansion.

[thebigATL]

http://www.bizjournals.com/atlanta/real_...s-former-trump-towers-site.html?page=all

The site once planned as Trump Towers Atlanta is looking more likely to become another Midtown high-rise apartment project.

AMLI Residential bought the nearly 1.8-acre site at 15th and West Peachtree Streets from General Electric Credit Equities Inc., according to Fulton County records. The price: $7 million.

How long it takes AMLI to move forward with its project is unclear. Atlanta-based executives with the company haven't been willing to talk about it. Contractors, though, were recently pricing a project on the site that could range from 20 to 30 stories.

The proposal may soon come before the Midtown Development Review Committee, according to people with knowledge of the plans.

AMLI paid about $91 a land square foot, or less than $4 million an acre, to buy the Trump Towers site, according to Databank Inc., a firm that tracks real estate sales across metro Atlanta.

"That's not a bargain, but it's a good price by today's values," Databank founder Alan Wexler said.

It's also much less than what prime Midtown land cost several years ago at the height of the condo boom, when Trump — the New York real estate mogul and reality TV star — put his name on the Atlanta project. Trump Towers was going to feature two high-rise condominiums developed in partnership with Atlanta-based Wood Partners LLC.

The plans were scaled back and later shelved. The intown condo market collapsed, and the site was foreclosed upon in 2010.

Rather than condos, it's apartments driving new intown construction today. AMLI's project could become the fifth high-rise to enter the Midtown residential development pipeline over the next year. Some of the projects have familiar names behind them, including Wood Partners, which is working on an $85 million tower next to the Midtown MARTA station.

One of the most ambitious projects would involve Manhattan developer Ashkenazy Acquisition Corp. and international design firm Arquitectonica. They are pitching three towers at 98 14th Street, also known as the symphony center site.

Midtown apartment developers this year have reported rents exceeding $2 a square foot, a new high-water mark for many projects. The growth is also fueled by a greater shift to a rentership society in the wake of the housing crash, a prolonged period of declining homeownership rates, and the emergence of millennials as a powerful influence on real estate development patterns.

http://atlanta.curbed.com/uploads/575-thumb.jpg

[OZ1970]

Good Morning everyone,
From what I have read on Atlanta development, it looks like there are some interesting proposals in the mid-town area. Does anyone know of any possible proposals in the works for downtown Atlanta? Are there any hints of a tower or towers for the west side of downtown or any part of the downtown area for that matter? I think it would be great to see a new tall tower (not necessarily a "new tallest" tower) but maybe a 700' plus tower to add to Atlanta's already beautiful skyline. I know, of course, there has to be a need for new office/mixed use space etc. but it's been a while since we have seen anything downtown. Has anyone heard anything? Thank you ahead of time for any information!

[Terminus]

Originally Posted by OZ1970

Good Morning everyone,
From what I have read on Atlanta development, it looks like there are some interesting proposals in the mid-town area. Does anyone know of any possible proposals in the works for downtown Atlanta? Are there any hints of a tower or towers for the west side of downtown or any part of the downtown area for that matter? I think it would be great to see a new tall tower (not necessarily a "new tallest" tower) but maybe a 700' plus tower to add to Atlanta's already beautiful skyline. I know, of course, there has to be a need for new office/mixed use space etc. but it's been a while since we have seen anything downtown. Has anyone heard anything? Thank you ahead of time for any information!

No.

[Atlanta3000]

Originally Posted by OZ1970

Good Morning everyone,
From what I have read on Atlanta development, it looks like there are some interesting proposals in the mid-town area. Does anyone know of any possible proposals in the works for downtown Atlanta? Are there any hints of a tower or towers for the west side of downtown or any part of the downtown area for that matter? I think it would be great to see a new tall tower (not necessarily a "new tallest" tower) but maybe a 700' plus tower to add to Atlanta's already beautiful skyline. I know, of course, there has to be a need for new office/mixed use space etc. but it's been a while since we have seen anything downtown. Has anyone heard anything? Thank you ahead of time for any information!

Good Afternoon OZ1970,

I personally know of two unannounced projects of that caliber. Also the Georgia World Congress Center is exploring the feasibility of building a 800 - 1200 room hotel next to the new Falcons stadium. By 2015 I think we could easily see $4 Billion worth of investment being made in downtown and that is before any large scale project(s) to replace Turner Field. Patience my friend!

[ATL_J]

Originally Posted by Atlanta3000

That's not what I am hearing. I think CNN and Turner Broadcasting are looking at space there and potentially MTV.

I had heard they were courting companies like that, Coca-Cola included, and many of the same type of companies PCM was courting. The interest apparently wasn't there (or in the case of PCM, it was elsewhere) and they were looking to team up with an apartment company like AMLI or Post to turn the site into an apartment tower. That was the last I was told on the project and I think the "project" as far as we know it, is dead. Unless you work for the development company directly or indirectly in some capacity, I would consider what I'm saying as truth. Maybe you're right though? I don't want to act like I have "insider knowledge", because generally I don't, but on this one specific project I'm confident I would know if they were still planning on moving forward with this proposal as we know it.

[Terminus]

Originally Posted by ATL_J

I had heard they were courting companies like that, Coca-Cola included, and many of the same type of companies PCM was courting. The interest apparently wasn't there (or in the case of PCM, it was elsewhere) and they were looking to team up with an apartment company like AMLI or Post to turn the site into an apartment tower. That was the last I was told on the project and I think the "project" as far as we know it, is dead. Unless you work for the development company directly or indirectly in some capacity, I would consider what I'm saying as truth. Maybe you're right though? I don't want to act like I have "insider knowledge", because generally I don't, but on this one specific project I'm confident I would know if they were still planning on moving forward with this proposal as we know it.

That's promising news. I'd much rather see housing on that site than another office building (that cannibalizes from existing buildings) or a hotel. This said, it won't be Post, as they own several blocks to the northeast of COP.

[ATL_J]

Originally Posted by Terminus

That's promising news. I'd much rather see housing on that site than another office building (that cannibalizes from existing buildings) or a hotel. This said, it won't be Post, as they own several blocks to the northeast of COP.

Yea, it wasn't Post, I just meant a company like that.

Weren't you saying you were aware of some office buildings being converted to other uses (I assume residential) a month or so ago? Any word on that? I would love for some downtown residential to open up. Not only for me personally, but for the vibrancy of downtown.

[OZ1970]

Originally Posted by Atlanta3000

Good Afternoon OZ1970,

I personally know of two unannounced projects of that caliber. Also the Georgia World Congress Center is exploring the feasibility of building a 800 - 1200 room hotel next to the new Falcons stadium. By 2015 I think we could easily see $4 Billion worth of investment being made in downtown and that is before any large scale project(s) to replace Turner Field. Patience my friend!

Thank's for the information, Atlanta3000.

[OZ1970]

Originally Posted by Terminus

No.

O.K., thank you Terminus.

[ATLaffinity]

Originally Posted by micropundit

Real Estate site , Bisnow, is reporting that the company -an email marketing firm- has inked a deal in excess of 100k SF at Jamestown's 1 million square foot mixed-use project. The lease is the largest deal in that redevelopment, meaning the bulk of its 450k SF of office space is filled.( AthenaHealth and Cardlytics are already signed as tenants)

http://www.bisnow.com/commercial-real-estate/atlanta/380-jamestown-lands-mailchimp/

Did they underestimate the office space need? That building is beyond massive and the office space is already about filled?

[Harry Cane]

Yet not a peep about any of the retail tenants, for either PCM or Buckhead Atlanta. Has anyone even heard any rumors?

[briantech]

Originally Posted by ATLaffinity

Did they underestimate the office space need? That building is beyond massive and the office space is already about filled?

It's only 1.1 million sq ft total. If they have 450k sq ft representing the "bulk" of the office sq footage... then the rest is Residential, Restaurant, & Retail ... that sounds about right.

Be a shame to just fill the whole thing up with office space, closed off to the public, with everyone leaving the building after 5pm.

[ChasAl]

Interesting article.
http://finance.yahoo.com/news/companies-goodbye-burbs-004800326.html

[kamden99]

According to the Midtown Atlanta website, the Midtown SPI-16 & SPI-17 Development Review Committee Meeting on December 10th will review a new application for 1301 Peachtree (One Museum Place)!

http://www.midtownatl.com/do/midtown-spi-16-and-spi-17-development-review-committee-meeting6

Here is a link to the original plans for the site. I really liked the design... but my guess is these have been scrapped for something else. But I guess we'll have to wait and see!

http://www.ompatlanta.com/rendering.html

[kamden99]

OK, I did a little more digging... what a let down.

"SPI-16
5:30 NEW APPLICATION: 1301 Peachtree Street (One Museum Place)
ProjectType: New construction of a 5-story condominium project fronting Peachtree Street and containing 48 luxury residential units. The condos will be located in two buildings organized around an internal courtyard. Communal spaces for the fitness center and owner’s lounge will be located on the ground floor with direct pedestrian access to Peachtree Street. The building method is stick-frame construction above a level of parking which is below grade along the Peachtree frontage.

Applicant(s): Randy Shields, [email protected] John Wieland, [email protected]"

I know beggars can't be choosers, but I was expecting more for this plot of prime real estate directly across Peachtree from the High Museum... But as long as we're going to get 3 towers on the other side of the High (from that Manhatten developer), I guess this will be sufficient...

[PremierAtlanta]

Originally Posted by kamden99

OK, I did a little more digging... what a let down.

"SPI-16
5:30 NEW APPLICATION: 1301 Peachtree Street (One Museum Place)
ProjectType: New construction of a 5-story condominium project fronting Peachtree Street and containing 48 luxury residential units. The condos will be located in two buildings organized around an internal courtyard. Communal spaces for the fitness center and owner’s lounge will be located on the ground floor with direct pedestrian access to Peachtree Street. The building method is stick-frame construction above a level of parking which is below grade along the Peachtree frontage.

Applicant(s): Randy Shields, [email protected] John Wieland, [email protected]"

I know beggars can't be choosers, but I was expecting more for this plot of prime real estate directly across Peachtree from the High Museum... But as long as we're going to get 3 towers on the other side of the High (from that Manhatten developer), I guess this will be sufficient...

This is such a disappointment for such a prime location. Like others, I will reserve my opinion until we have more information or renderings.

[Frankster87]

Originally Posted by Atlanta3000

Good Afternoon OZ1970,

I personally know of two unannounced projects of that caliber. Also the Georgia World Congress Center is exploring the feasibility of building a 800 - 1200 room hotel next to the new Falcons stadium. By 2015 I think we could easily see $4 Billion worth of investment being made in downtown and that is before any large scale project(s) to replace Turner Field. Patience my friend!

Atlanta3000, it looks like you're not the only one optimistc about Downtown. This articles gives me hope for the future and for a change in perception for the masses:

http://www.bizjournals.com/atlanta/real_talk/2013/12/the-upside-of-atlantas-downtown.html?page=all

I sure hope that a grocery store will be involved in some of these plans. For now, I shall eagerly await further details

[mayhem]

Let me remind everyone that you're posting in the Atlanta Construction Thread. That means film studios in Gwinnett, retail in PCM, and the likes have no place here. We're talking about high, mid, and low rise construction and that is it.

Please visit the entire sub forum dedicated to Atlanta if you would like to discuss anything other than proposed or u/c skyscrapers.

http://forum.skyscraperpage.com/forumdisplay.php?forumid=330