ATLANTA | Development Thread V

[1lifealex]

Originally Posted by bigstick

When do you think the Tower crane will go up, it seems very slow to me if you look back 30 days ago..

The reason why it's slow is because there is bedrock about four feet down they are using one of those machines that's used to pull up asphalt from roads to get the rock out

[Zanarkand A East]

Originally Posted by jnihiser

Just went to the one in Alpharetta a few weeks ago, and I'm excited that there'll be one in the city. Can't wait to see what's next!

[micropundit]

Atlanta's first Home2 Suites hotel is slated to open this fall in downtown — a market buzzing with new hotel development, according to the Atlanta Business Chronicle.

Walton International LLC, an affiliate that includes Atlanta-based Arsenal Capital Partners, is developing the 128-room, extended-stay hotel at 85 Walton St, with a proposed opening date of September 1st.

The roughly $11 million project is transforming a circa-1910, nine-story structure. It was built by notable Atlanta architect and preservationist P. Thornton Marye, who also led the design of the Fox Theatre. Marye housed his offices in the building, and developers now look to have the building placed on the National Register of Historic Places.The hotel sits in close proximity to major tourist attractions including Centennial Olympic Park and the new Center for Civil and Human Rights (which will inspire the hotel's décor).

It also benefits from nearby Atlanta Streetcar and government offices including the FBI.

http://www.bizjournals.com/atlanta/real_...tes-hotel-to-open-downtown.html?page=all

[Atlanta3000]

Originally Posted by arctk2014

I believe it was the easement between the properties causing the dispute not the property line. The landowner should have known more about this before trying to market it but I suppose it's not as big of a deal-breaker for the developer as long as they can make their numbers work. The residential lobby for 811 fronts the South side of their site along or adjacent to this easement - which includes "some" parking and an entry canopy for 805 Peachtree. Which the original footprint was encroaching.

The biggest impact will be on the first floor retail space if the footprint is reduced even marginally. Especially if the developer is targeting a grocery store. I personally believe this building is befitting of an Apple Store, but who the hell am I?

[jpk1292000]

Originally Posted by micropundit

Atlanta's first Home2 Suites hotel is slated to open this fall in downtown — a market buzzing with new hotel development, according to the Atlanta Business Chronicle.

Walton International LLC, an affiliate that includes Atlanta-based Arsenal Capital Partners, is developing the 128-room, extended-stay hotel at 85 Walton St, with a proposed opening date of September 1st.

The roughly $11 million project is transforming a circa-1910, nine-story structure. It was built by notable Atlanta architect and preservationist P. Thornton Marye, who also led the design of the Fox Theatre. Marye housed his offices in the building, and developers now look to have the building placed on the National Register of Historic Places.The hotel sits in close proximity to major tourist attractions including Centennial Olympic Park and the new Center for Civil and Human Rights (which will inspire the hotel's décor).

It also benefits from nearby Atlanta Streetcar and government offices including the FBI.

http://www.bizjournals.com/atlanta/real_...tes-hotel-to-open-downtown.html?page=all

This is a great project...love hearing about the restoration (rather than a demolition) of an old building downtown.

[bigstick]

Originally Posted by 1lifealex

The reason why it's slow is because there is bedrock about four feet down they are using one of those machines that's used to pull up asphalt from roads to get the rock out

Thank you for the explanation....

[Ant131531]

Atlanta actually doesn't have nearly as much apartment development as a lot of other cities...we were 2 years behind everyone else. Other cities will cool down before we do. Annual Job growth is now top 5 in the country beating Houston and only behind NYC, LA, SF Bay area, and Dallas which means rent growth will continue to increase.

Source on Job Growth: http://www.bls.gov/news.release/metro.t03.htm

Atlanta had 111k job growth from Jan 2014-Jan 2015....Dallas had 144k and Houston had 106k for context.

[jpk1292000]

Originally Posted by Ant131531

Atlanta actually doesn't have nearly as much apartment development as a lot of other cities...we were 2 years behind everyone else. Other cities will cool down before we do. Annual Job growth is now top 5 in the country beating Houston and only behind NYC, LA, SF Bay area, and Dallas which means rent growth will continue to increase.

Source on Job Growth: http://www.bls.gov/news.release/metro.t03.htm

Atlanta had 111k job growth from Jan 2014-Jan 2015....Dallas had 144k and Houston had 106k for context.

Agreed. I'm not too worried about a bubble. From a few people I know that work in apartment industry: demand is very strong, occupancy rates and rent are at historical highs. And there are every-other-month announcements of big name employers moving jobs into Atlanta.

[jpk1292000]

Originally Posted by micropundit

Atlanta's first Home2 Suites hotel is slated to open this fall in downtown — a market buzzing with new hotel development, according to the Atlanta Business Chronicle.

Walton International LLC, an affiliate that includes Atlanta-based Arsenal Capital Partners, is developing the 128-room, extended-stay hotel at 85 Walton St, with a proposed opening date of September 1st.

The roughly $11 million project is transforming a circa-1910, nine-story structure. It was built by notable Atlanta architect and preservationist P. Thornton Marye, who also led the design of the Fox Theatre. Marye housed his offices in the building, and developers now look to have the building placed on the National Register of Historic Places.The hotel sits in close proximity to major tourist attractions including Centennial Olympic Park and the new Center for Civil and Human Rights (which will inspire the hotel's décor).

It also benefits from nearby Atlanta Streetcar and government offices including the FBI.

http://www.bizjournals.com/atlanta/real_...tes-hotel-to-open-downtown.html?page=all

On a tangentially related note...this 85 Walton building reminds me of the vacant Medical Arts Building on Peachtree where it crosses the Connector. I love this building and am wondering when someone is going to redevelop it.

[Ant131531]

Originally Posted by jpk1292000

Agreed. I'm not too worried about a bubble. From a few people I know that work in apartment industry: demand is very strong, occupancy rates and rent are at historical highs. And there are every-other-month announcements of big name employers moving jobs into Atlanta.

Yup, it's going to correlate with job growth and with such strong job growth(Atlanta's annual percentage job growth is among the highest in the country), there's no reason to believe we will cool down anytime soon. Atlanta has hit it's stride again...this is only the beginning. I do believe we will be entering another boom period again, similar to pre-recession.

I mean, just looking at the Beltline on weekday evenings now, you just know the demand in the city right now is very strong. It's so crowded and that's just a weekday. Imagine a warm Spring weekend.

I'm 23 years old and would love an apartment in Midtown.

[bigstick]

Originally Posted by Ant131531

Yup, it's going to correlate with job growth and with such strong job growth(Atlanta's annual percentage job growth is among the highest in the country), there's no reason to believe we will cool down anytime soon. Atlanta has hit it's stride again...this is only the beginning. I do believe we will be entering another boom period again, similar to pre-recession.

I mean, just looking at the Beltline on weekday evenings now, you just know the demand in the city right now is very strong. It's so crowded and that's just a weekday. Imagine a warm Spring weekend.

I'm 23 years old and would love an apartment in Midtown.

The weekends on the Beltline are impassable, forget riding a bike or skating. You have Moms with double wide strollers walking a dog with the leash strewn across the whole path..

[jpk1292000]

Originally Posted by Ant131531

Yup, it's going to correlate with job growth and with such strong job growth(Atlanta's annual percentage job growth is among the highest in the country), there's no reason to believe we will cool down anytime soon. Atlanta has hit it's stride again...this is only the beginning. I do believe we will be entering another boom period again, similar to pre-recession.

I mean, just looking at the Beltline on weekday evenings now, you just know the demand in the city right now is very strong. It's so crowded and that's just a weekday. Imagine a warm Spring weekend.

I'm 23 years old and would love an apartment in Midtown.

Hopefully the very high rents/demand in Midtown and eastern areas of the city along the Beltline lead to development/redevelopment spreading to other nearby areas historically seen as less desirable, particularly areas along the Westside Beltline, Edgewood, Pittsburgh, etc.

Some of these areas have been surprisingly slow to improve. Edgewood is only slowly developing, much more slowly than I would have expected. Improving these transitional areas will help lower crime throughout Intown Atlanta, which is still higher than it should be in Inman Park, Little 5 Points, Kirkwood.

[GeorgiaPeanuts]

Originally Posted by bigstick

The weekends on the Beltline are impassable, forget riding a bike or skating. You have Moms with double wide strollers walking a dog with the leash strewn across the whole path..

I prefer the Freedom Park trail for this reason to be honest. Much less people, greater amount of hills so more challenging, lots of cool old houses along the way as well.

[arctk2014]

Originally Posted by Atlanta3000

The biggest impact will be on the first floor retail space if the footprint is reduced even marginally. Especially if the developer is targeting a grocery store. I personally believe this building is befitting of an Apple Store, but who the hell am I?

The residential lobby is pretty much a concierge lobby with the leasing and support offices elsewhere. They're focusing on trimming the residential lobby to accommodate this as well as position this more for condos in the future (less about the old "grand lobby" and more about the other amenities).

[robertjhajek]

Originally Posted by GeorgiaPeanuts

I prefer the Freedom Park trail for this reason to be honest. Much less people, greater amount of hills so more challenging, lots of cool old houses along the way as well.

I live in one of those old houses

But I kinda prefer the beltline cause I am way out of shape and it's flat. Also, I enjoy it for the people & dog watching as well as better access to commercial dev.

[RocketSurgeon]

Originally Posted by RocketSurgeon

I believe the conversion of the Arthritis Foundation building to apartments has begun (West Peachtree near 17th). I saw a lot of work going on there today.

False alarm... turns out they were just putting signs in the windows and some unrelated work was happening on the street. It looked promising at 40 MPH though

[GeorgiaPeanuts]

http://www.peachpundit.com/2015/03/25/ca...duced-projections-suggest-250m-for-hope/

Bill introduced to legalize gambling in GA. For Atlanta 1 casino would be allowed and would require a minimum $1 billion investment.

[bryantm3]

Originally Posted by Ant131531

Yup, it's going to correlate with job growth and with such strong job growth(Atlanta's annual percentage job growth is among the highest in the country), there's no reason to believe we will cool down anytime soon. Atlanta has hit it's stride again...this is only the beginning. I do believe we will be entering another boom period again, similar to pre-recession.

I mean, just looking at the Beltline on weekday evenings now, you just know the demand in the city right now is very strong. It's so crowded and that's just a weekday. Imagine a warm Spring weekend.

I'm 23 years old and would love an apartment in Midtown.

the moment i knew things were really changing was when i got off the streetcar at like 1 AM on a monday night in the crappy part of fairlie-poplar and there were tourists wandering around. you haven't seen stuff like that since the olympics.

[Atlanta3000]

Originally Posted by GeorgiaPeanuts

http://www.peachpundit.com/2015/03/25/ca...duced-projections-suggest-250m-for-hope/

Bill introduced to legalize gambling in GA. For Atlanta 1 casino would be allowed and would require a minimum $1 billion investment.

I've heard several casino operators have expressed interest in downtown Atlanta. Also, I wouldn't be surprised if their lobbying efforts aren't the catalyst for this Bill. Having a $1 Billion+ casino, hotel & entertainment development could be the shot in the arm downtown needs to drive future sustainable growth and jobs.

[smArTaLlone]

Originally Posted by bryantm3

the moment i knew things were really changing was when i got off the streetcar at like 1 AM on a monday night in the crappy part of fairlie-poplar and there were tourists wandering around. you haven't seen stuff like that since the olympics.

I promise you every time I've been downtown at night recently I've been somewhat shocked at the level of pedestrian activity without any large event being in town. Granted its always been on weekends downtown is not nearly as deserted after 5 pm as its so often portrayed.