ATLANTA | Development Thread V - Page 679

shivtim · #**13561** Posted **Apr 3, 2015, 1:39 PM**

Planing for zoning and streetscape improvements for the Howell Mill Road redevelopment is underway.

arjay57 · #**13562** Posted **Apr 3, 2015, 1:41 PM**

Quote:

Originally Posted by Atlanta3000

Another Highlight from Today's Atlanta Business Journal - Buckhead Condo Project

JPX Works LLC plans to convert a 47 unit apartment building at 2520 Peachtree Road into a 130,000 square foot, 22 story condo building, with up to 100 units. JPX filed plans with Atlanta to rezone the site.

We have a friend who lives in the current building. Wonder if they will preserve the facade?

Newnan_Eric · #**13563** Posted **Apr 3, 2015, 1:44 PM**

Surprised no one has posted this:

POST TAKES NEXT STEP ON CENTENNIAL PROJECT

I'm probably more excited about this than many others. Mostly for the street life it will contribute to the area.

Atlanta3000 · #**13564** Posted **Apr 3, 2015, 1:48 PM**

Quote:

Originally Posted by arjay57

We have a friend who lives in the current building. Wonder if they will preserve the facade?

This is the current building (pic below). I don't believe anyone in Buckhead would buy a condo in a new project if they keep the current facade. Just my $.02.

arjay57 · #**13565** Posted **Apr 3, 2015, 1:50 PM**

Oh, I know, I was just being silly.

Quote:

Originally Posted by Atlanta3000

This is the current building (pic below). I don't believe anyone in Buckhead would buy a condo in a new project if they keep the current facade. Just my $.02.

jpk1292000 · #**13566** Posted **Apr 3, 2015, 2:16 PM**

Quote:

Originally Posted by Newnan_Eric

Surprised no one has posted this:

POST TAKES NEXT STEP ON CENTENNIAL PROJECT

I'm probably more excited about this than many others. Mostly for the street life it will contribute to the area.

I'm not surprised at all. There's so much going on in Atlanta right now, it's getting difficult to keep up.

GeorgiaPeanuts · #**13567** Posted **Apr 3, 2015, 2:51 PM**

Third Rail Studios to anchor the Doraville redevelopment:

http://www.bizjournals.com/atlanta/print...ana=sm_atl_ucp81&b=1427997545%5E16957211

That hot walmart mess of a shopping plaza at Bolton and Moore's Mill is moving forward with redevelopment into a Publix:

http://www.bizjournals.com/atlanta/print...s-2016-start-to-moores-mill-project.html

Atlanta3000 · #**13568** Posted **Apr 3, 2015, 3:19 PM**

Quote:

Originally Posted by arjay57

Oh, I know, I was just being silly.

I was thinkin': "Good lord arjay57, it's a little early in the day to be drinkin'....especially on Good Friday!!!"

Atlanta3000 · #**13569** Posted **Apr 3, 2015, 3:45 PM**

Emory Healthcare and WellStar Health System to Merge

http://www.bizjournals.com/atlanta/news/...hcare-and-wellstar-health-system-to.html

Quote:

Emory Healthcare and WellStar Health System will combine into a new health system, the two health systems announced on April 2.
Marietta, Ga.-based WellStar Health System's Board of Trustees and Emory University's Board of Trustees both approved a resolution to begin the design process for the unified health system after a roughly 45-day discussion period.
The two parties will spend a year in a planning and design phase to finalize a name for the new health system, a corporate office location, its governance and its structure. The new system will be not-for-profit.

Purely speculation on my part, but it was rumored there was a plan to build an office building next to Emory's Proton Therapy Center in Midtown. It seems like this would be an excellent location to build the combined companies' HQ. BTW - the combined company will have over 27,000 employees.

scania · #**13570** Posted **Apr 3, 2015, 4:10 PM**

Quote:

Originally Posted by Atlanta3000

This is the current building (pic below). I don't believe anyone in Buckhead would buy a condo in a new project if they keep the current facade. Just my $.02.

Despite how the new project looks, it'll be a welcome addition to that area.

Atlanta3000 · #**13571** Posted **Apr 3, 2015, 5:35 PM**

Quote:

Originally Posted by scania

Despite how the new project looks, it'll be a welcome addition to that area.

Scania - this is a brand new project reported today in the ABC and the developer has not released a rendering. I think you may be confusing this with the apartment tower beside Phipps Plaza we discussed earlier in the week.

bigstick · #**13572** Posted **Apr 3, 2015, 5:59 PM**

WOW, too much happening....

jpk1292000 · #**13573** Posted **Apr 3, 2015, 7:11 PM**

I've been in ATL since September 2000. There's never been this much urban development going on in this town in those 15 years as there is now.

It's a great problem to have. And as hot as ATL is, I'll know we're growing like Dubai when someone announces plans to redevelop the Medical Arts Building on Peachtree at the Connector. Just don't know why it hasn't moved yet.

It's amazing when you look back at how dead development was back in 2010. Times sure have changed...

PremierAtlanta · #**13574** Posted **Apr 3, 2015, 7:20 PM**

Quote:

Originally Posted by jpk1292000

...And as hot as ATL is, I'll know we're growing like Dubai when someone announces plans to redevelop the Medical Arts Building on Peachtree at the Connector. Just don't know why it hasn't moved yet.

Blame the current owner.

jpk1292000 · #**13575** Posted **Apr 3, 2015, 7:31 PM**

Quote:

Originally Posted by PremierAtlanta

Blame the current owner.

Who is that?

PremierAtlanta · #**13576** Posted **Apr 3, 2015, 8:02 PM**

Quote:

Originally Posted by jpk1292000

Who is that?

There is an owner of record. He is hidden behind a LLC.

Atlanta3000 · #**13577** Posted **Apr 3, 2015, 8:08 PM**

I Have a Solution

Any property that is condemned or is not deamed safe for occupancy in Atlanta, the city should charge 2X - 3X the current property tax rate. This would force these owners to develop the property, tear it down or sell it to somebody who will.

Conversely, if PremierAtlanta can give us the owners name of the Medical Arts Building, we can hunt him down - hogtie and waterboard him until he agrees to do the right thing.

Personally, I prefer the later.

PremierAtlanta · #**13578** Posted **Apr 3, 2015, 8:20 PM**

Quote:

Originally Posted by Atlanta3000

I Have a Solution

Any property that is condemned or is not deamed safe for occupancy in Atlanta, the city should charge 2X - 3X the current property tax rate. This would force these owners to develop the property, tear it down or sell it to somebody who will.

Conversely, if PremierAtlanta can give us the owners name of the Medical Arts Building, we can hunt him down - hogtie and waterboard him until he agrees to do the right thing.

Personally, I prefer the later.

Over the years there has been interest in the property. A group of investors were interested in the property many years ago. Without going into specifics, he was very difficult to negotiate with. If you are going to just sit on it, why not sell it to someone who has the capital to renovate it?

I really hope no one tears it down. It is quite the architectural gem.

Atlanta3000 · #**13579** Posted **Apr 3, 2015, 8:25 PM**

Quote:

Originally Posted by PremierAtlanta

Over the years there has been interest in the property. A group of investors were interested in the property many years ago. Without going into specifics, he was very difficult to negotiate with. If you are going to just sit on it, why not sell it to someone who has the capital to renovate it?

I really hope no one tears it down. It is quite the architectural gem.

I read somewhere the building is in such structural disrepair from years of neglect that it is cost prohibitive to do a renovation like PCM.

PremierAtlanta · #**13580** Posted **Apr 3, 2015, 8:44 PM**

Quote:

Originally Posted by Atlanta3000

I read somewhere the building is in such structural disrepair from years of neglect that it is cost prohibitive to do a renovation like PCM.

I would not be surprised if this is the case now.

Back in 2005/6 it was in bad shape. The owner was advised that it would take millions to renovate it but he held steady to his list price. No person in their right mind would pay a premium price and then be saddled with such a lofty renovation price.

Is it hopeless cause? I don't know. It has been ten years since I've read an inspection report for the property.

But alas...this is the wrong place for this discussion.