ATLANTA | Development Thread V

[Terminus]

Originally Posted by NickH

These are owners not renters. Their property values will take a hit regardless of how you look at it. Not a problem until it happens to you. I'm still rooting for the project to crash and see something develop West or East.

People who are stupid enough to buy next to a vacant lot only based on a view deserve what they get.

My boss thought about buying a unit at 805 on the north side last year (before 811 was announced), but them I explained to him that the site was zoned for high-rises and he'd probably end up looking into a parking podium. He and his wife made the wise choice and bought facing a street.

[joecool]

Originally Posted by Terminus

People who are stupid enough to buy next to a vacant lot only based on a view deserve what they get.

My boss thought about buying a unit at 805 on the north side last year (before 811 was announced), but them I explained to him that the site was zoned for high-rises and he'd probably end up looking into a parking podium. He and his wife made the wise choice and bought facing a street.

Exactly!!!!

[ATLcubs]

Originally Posted by AtlantaMustang

On the Midtown DRC agenda for tomorrow, JR Crickets old building is being torn down, and a new tower is proposed on 12th near the park.

NEW APPLICATION: Alta at the Park (12th Street near Piedmont Avenue)
A new 22-story residential tower with 220 apartments above six levels of podium parking. The main entrance will be located on 12th Street with a secondary entrance on Dickson Place. The project is being developed by Wood Partners and Paradigm Engineering.

http://www.midtownatl.com/_files/docs/agenda-12-09-14.pdf

Looks like RJT+R will be designing this one.

If we can get this one to go up with Yoo and Azure right there, those three blocks will have grown in height VERY quickly.

[A-town]

Originally Posted by NickH

These are owners not renters. Their property values will take a hit regardless of how you look at it. Not a problem until it happens to you. I'm still rooting for the project to crash and see something develop West or East.

So I'm guessing you have a south facing unit in Viewpoint? This reminds me of the anger expressed by residents of TWELVE Atlantic Station when The Atlantic was being built a few years ago. They got mad that their south facing views were getting blocked. But if you looked at the buildout plans of AS it clearly showed that there would be high-rises on both sides of the street. And those plans were readily available and in heavy circulation around the internet if you cared to do the slightest research. Yet people still bought south facing units then got mad when their views got blocked, like nothing would ever get built across the street. And around that same time there was a councilwoman trying to pass zoning that would prevent a building from blocking the views of another building. I'm glad that idea never took off as it would've killed a lot of the developments that we are now seeing. So if you buy a unit next to an empty lot in a high density area expect to have your view blocked, it's just that simple.

[A-town]

Originally Posted by RocketSurgeon

It's strange that Publix is the only grocer willing to be in the core. There's definitely a market for higher quality options, and you'd think others would see how packed the current stores are and want a piece of it. For that matter, I'm surprised there haven't been more small-scale newsstand-type places popping up. I guess it's only a matter of time... with all the new residential coming, Midtown is going to be a very different place in five years.

I agree, just look what Publix has done for that part of Midtown. I've always believed that there's so much development going on in that area because of that Publix. People is the south do a lot of cooking. So having easy access to a grocery store is paramount. Every lot surrounding Plaza Midtown is either under development or being proposed for development. And I think that Publix is the main reason why.

[GeorgiaPeanuts]

1163 West Peachtree has demolition permit ready to issue and the foundation and parking deck permits were filed 09/09/14 and making their way through review so that looks very likely to move quickly once they get the build permit issued.

[Stairstars]

I wish that some of them would be condos. I think people who invest those sums and buy, are more committed to the neighborhood and it's life and development. Renters come in all sizes, of course, and I don't condemn them out of hand, but I have seen here in my building the difference between those who own and those who lease. All these rentals, to me, mean a transient crowd. Many will be students, some moving from here.

Yes, I knew that the lot next door, leased to the parking company, was not to be forever, but when I bought it early 2012 I was gambling on a longer economic recovery period. I will still have a fine southwest view (unless they build a biggie on the Interstate) and will see the top of the 4 Seasons and the One Atlantic to the east. If, they were building an Atlantic (AS) type tower as I hoped they would, it would preserve even more of the view. I have looked at several Twelve AS south facing units, and they still afford fine views of Downtown and Midtown. Some have even been reduced in price the last month. But, we just got through completely rehabbing this unit and we like it very much. It was a rental for all of it's life before and was a wreck - hence my feeling about renters and landlords.

[1lifealex]

A few pics of 1163 I never seen http://www.atlantaskyriseblog.com/2014/05/15/novare-announces-1163-west-peachtree/

[arctk2014]

Originally Posted by Stairstars

I wish that some of them would be condos. I think people who invest those sums and buy, are more committed to the neighborhood and it's life and development. Renters come in all sizes, of course, and I don't condemn them out of hand, but I have seen here in my building the difference between those who own and those who lease. All these rentals, to me, mean a transient crowd. Many will be students, some moving from here.

Yes, I knew that the lot next door, leased to the parking company, was not to be forever, but when I bought it early 2012 I was gambling on a longer economic recovery period. I will still have a fine southwest view (unless they build a biggie on the Interstate) and will see the top of the 4 Seasons and the One Atlantic to the east. If, they were building an Atlantic (AS) type tower as I hoped they would, it would preserve even more of the view. I have looked at several Twelve AS south facing units, and they still afford fine views of Downtown and Midtown. Some have even been reduced in price the last month. But, we just got through completely rehabbing this unit and we like it very much. It was a rental for all of it's life before and was a wreck - hence my feeling about renters and landlords.

A lot of the problems with renters has just as much if not more to do with building management, landlords, etc than the actual renters. Blaming the tenant for a lack of care is easy when you don't rent, but as a renter a lot of the care comes whether or not the landlord is active/present as well. The house I rent in Midtown is pretty-well taken care of because we report problems as we comes across them....but you can obviously tell which properties in Midtown have a not-so great landlord/owner more than a bad tenant.

[RATBOYKEV]

Originally Posted by GeorgiaPeanuts

1163 West Peachtree has demolition permit ready to issue and the foundation and parking deck permits were filed 09/09/14 and making their way through review so that looks very likely to move quickly once they get the build permit issued.

Are you saying they have a demo permit for the Carolyn's Cafe bldg, Einsteins bldg, or Starbucks bldg? I haven't seen or heard any imminent plans to move or close from any of these.

[sunking1056]

http://atlanta.curbed.com/archives/2014/...inance-of-eastern-downtown-continues.php

Hadn't seen this mentioned anywhere-- GSU held groundbreaking for Phase II of the Petit science center, being built next to the first building.

[RATBOYKEV]

Duplicate post - apologies

[RATBOYKEV]

Originally Posted by AtlantaMustang

NEW APPLICATION: Alta at the Park (12th Street near Piedmont Avenue)
A new 22-story residential tower with 220 apartments... ...project is being developed by Wood Partners...
http://www.midtownatl.com/_files/docs/agenda-12-09-14.pdf

Wood Partners is currently working on 33 Peachtree Place, so I assume that they would wait till that is finished and leased up before moving forward with this. That would put groundbreaking all the way back to 2017ish.

Originally Posted by ATLcubs

If we can get this one to go up with Yoo and Azure right there, those three blocks will have grown in height VERY quickly.

Fun fact - If all proposals were built in this census district (local census district 11, 10th to 14th & W Peachtree to PP), population would go from 3,633 in 2010 census to ~9,332, a 157% increase; which had been +42.5% over the previous census period. Density would go from 19,971 to 51,296!

The projects added would be: 77 12th St, 60 11th St, Novare tower on 14th, 12th & Midtown on Peachtree, Post Millennium , Yoo on the Park, 22 14th St (Related Co.), Yoo on Peachtree, Azure on the Park, Hanover Midtown (1010 W Peachtree). Obviously, in the short term, less than half would be built; but damn!

[Verge]

Originally Posted by NickH

These are owners not renters. Their property values will take a hit regardless of how you look at it. Not a problem until it happens to you. I'm still rooting for the project to crash and see something develop West or East.

Crash?-- This one is by far the nicest design of anything out there-- No one should ever buy a unit with a view of a vacant lot and not expect something to be built on it-- This is the one I hope gets built

[(four 0 four)]

Originally Posted by bigstick

http://perkinswill.com/work/eviva-peachtree

Looks like it is called "Eviva" now.

It looks like Integral has at least 2 other Eviva's in the works...under construction in Sacramento and one planned in Denver.

[Stairstars]

Originally Posted by arctk2014

A lot of the problems with renters has just as much if not more to do with building management, landlords, etc than the actual renters. Blaming the tenant for a lack of care is easy when you don't rent, but as a renter a lot of the care comes whether or not the landlord is active/present as well. The house I rent in Midtown is pretty-well taken care of because we report problems as we comes across them....but you can obviously tell which properties in Midtown have a not-so great landlord/owner more than a bad tenant.

My point, as well, which is why I said renters and landlords. In a condo, we the owners reside here and try to be diligent without being invasive. But, as an example, the "boys" across the hall from us just moved out leaving several holes in the wall, evidence of the dog not being taken out, and general 'animal house' living quarters. The owner has a leasing permit, but lives out of state, so no help there. Don't ask about behavior of early morning parties with the door open and a dozen people getting drunk. Or yelling in the hallway "Wake up, MF'ers!" at 3 AM. And no, they were not college students, but near 40 year old arrested development party goons. We currently are returning to the days of old where only 25% of the units will even be permitted to lease. Any lower, FHA will disqualify the building - something that has already happened to the Windsor. Not trying to be off topic, but this is the basis for me hoping some of these new buildings will become condos. I think it has a stabilizing effect on the neighborhood and makes strong ties to it. If you own it, you have a better reason for caring for it.

[GeorgiaPeanuts]

Originally Posted by Stairstars

My point, as well, which is why I said renters and landlords. In a condo, we the owners reside here and try to be diligent without being invasive. But, as an example, the "boys" across the hall from us just moved out leaving several holes in the wall, evidence of the dog not being taken out, and general 'animal house' living quarters. The owner has a leasing permit, but lives out of state, so no help there. Don't ask about behavior of early morning parties with the door open and a dozen people getting drunk. Or yelling in the hallway "Wake up, MF'ers!" at 3 AM. And no, they were not college students, but near 40 year old arrested development party goons. We currently are returning to the days of old where only 25% of the units will even be permitted to lease. Any lower, FHA will disqualify the building - something that has already happened to the Windsor. Not trying to be off topic, but this is the basis for me hoping some of these new buildings will become condos. I think it has a stabilizing effect on the neighborhood and makes strong ties to it. If you own it, you have a better reason for caring for it.

FHA will disqualify it from what, exactly?

[RATBOYKEV]

Originally Posted by GeorgiaPeanuts

FHA will disqualify it from what, exactly?

In order to get a FHA loan (Fannie Mae and Freddie Mac backed), a building has to meet certain guidelines. A max of 25% of the building can have non-owner tenants being the major one. Having a building FHA qualified opens it up to a larger buying audience such as young people with no credit history, those wanting to do lower down-payments, etc

[micropundit]

Developer Wood Partners LLC is planning a 22 story, 220-unit, $80 million residential tower overlooking Piedmont Park to be known as Alta at The Park.The project, would rise on a small tract along the south side of 12th Street across from the Luxe condo building.Wood Partners and architect Rule Joy Trammell + Rubio presented the 22-story project Dec. 9 to the Midtown Development Review Committee, an advisory group that makes recommendations to the city of Atlanta Bureau of Planning.

It's possible Alta at the Park could be developed as a condo tower, Bennett Sands, a Wood Partners director, told the Development Review Committee. For now, it will be "programmed as a multifamily development," Sands said, adding the project would be further evaluated as a rental or condo tower depending on how the market unfolds

http://www.bizjournals.com/atlanta/real_...story-residential-tower-by.html?page=all

[bigstick]

Originally Posted by (four 0 four)

It looks like Integral has at least 2 other Eviva's in the works...under construction in Sacramento and one planned in Denver.

Oh no, another Novare cutter......