Atlanta Project Thread IV - Page 93

arjay57 · #**1841** Posted **May 11, 2015, 3:42 PM**

Quote:

Originally Posted by Atlanta3000

Slow your roll atlantaguy - this is a forum not a personal attack.

Correct me if I am wrong, but The Related Group is 2-4. Two dead proposals in Atlanta (CityPlace and Lenox Mall Tower) and Two projects in the Pipeline (22 Fourteenth Street and Buckhead) of which neither of those will break ground before 2016 at the earliest.

See my post above validating my reason to question The Related Group's lack of progress compared to their peers.

I think it is just the nature of the real estate biz. Developers often make proposals that don't get out of the ground for many years, if ever.

Perhaps part of it is the "first to announce" strategy -- if Company A, Company B and Company C all announce they will be bringing projects to market in 2017, the competition may be deterred by what looks like a glut.

And of course market conditions and the availability of capital change, too. It's my understanding that financing for condo towers pretty much vaporized in the great recession of 2008-2013.

Atlanta3000 · #**1842** Posted **May 11, 2015, 4:37 PM**

Quote:

Originally Posted by arjay57

I think it is just the nature of the real estate biz. Developers often make proposals that don't get out of the ground for many years, if ever.

Perhaps part of it is the "first to announce" strategy -- if Company A, Company B and Company C all announce they will be bringing projects to market in 2017, the competition may be deterred by what looks like a glut.

And of course market conditions and the availability of capital change, too. It's my understanding that financing for condo towers pretty much vaporized in the great recession of 2008-2013.

Thanks for the "good spirited" response to my concern. It is truly shocking how some people take others' comments/opinions so personally and have to resort to name calling and vulgarity, but point the finger at the other person as the petulant brat.

With that said, I completely agree with your statement above historically speaking. The exception to this rule has been during this development cycle. Overwhelmingly, the majority of projects that have been announced start construction in a year or less. Why is this occurring now - because apartments do not need presales (unlike condos or office buildings).

smArTaLlone · #**1843** Posted **May 11, 2015, 5:02 PM**

Quote:

Originally Posted by Atlanta3000

May 2014 - 22 Fourteenth Street, 1010 West Peachtree Street and Azure on the Park presented their proposals before Midtown's DRC. The later two are already under construction, but 22 14th Street is just starting the permitting process.

So you think it is inappropriate for me to question their speed when other projects of similar sizes are moving much quicker.....hmmm???

http://www.atlantaintownpaper.com/2014/06/three-new-mixed-use-developments-planned-midtown/

First of all, Azure and 1010 West Peachtree have not begun construction. It's not very relevant anyway considering that they are three different developments and we don't know how far along they were in the process when they presented their plans to the DRC. There are so many other factors that we have no knowledge of that go into a development of this scale. Its a little naive to expect every project ANY two projects to follow the same timetable.

Secondly, we actually don't know the scale of Related's project considering that there is a planned second phase with a large Whole Foods included. Already, they have increased the amount of retail in phase 1. So clearly they have been busy planning and designing this project AND pursuing major retail tenants for it.

GeorgiaPeanuts · #**1844** Posted **May 11, 2015, 6:55 PM**

Buildings can stall even during construction; see Lindbergh condo skeleton by the post office

smArTaLlone · #**1845** Posted **May 13, 2015, 2:02 AM**

IMO

Quote:

29-story high rise apartment community 435 units Amenity spaces include a fitness center, clubroom with a lounge, rooftop terrace with pool on the 7th and 28th floors, running track, yoga studio, Outdoor bar, high-lounge on the 30th floor 488,000 SF residential 12,000 SF retail

http://www.skiarch.com/

cabasse · #**1846** Posted **May 13, 2015, 2:45 AM**

um, yes please! fuck yes!!

GeorgiaPeanuts · #**1847** Posted **May 13, 2015, 2:49 AM**

Wow that stretch of Spring is changing so fast. Now only NCR HQ left to see

shivtim · #**1848** Posted **May 13, 2015, 2:51 AM**

Nice find, Smartallone! Looks like a fantastic building. Modern, clean lines, great rooftop amenities (on three levels!), and the parking deck is wrapped with apartments.

But what is with those renderings? Hilarious! They keep the ghost outline of University House and Plaza Midtown, and then everything else is random made-up buildings. They show Spring Street as two-way, and apparently the connector is now "5M" and has some new bridges and two HOV lanes on the right. You can take a left turn from Williams through a median and right on to the highway! They even add a non-existent pregnancy hotline billboard and make sure to put it in both renderings. Bizarre.

smArTaLlone · #**1849** Posted **May 13, 2015, 3:05 AM**

I like the fact that there are a wider variety of developers building in Atlanta now which adds a bit of variety to some of these projects going up. The parking deck treatment on this building should put some other developers to shame.

Yeah I love the random density in the rendering. I had to look at for a few minutes to be sure it is actually Atlanta's Modera Midtown. And the pregnancy billboard is a nice touch.

jpk1292000 · #**1850** Posted **May 13, 2015, 3:10 AM**

Wow! This is a damn nice looking building. Can't wait until this breaks ground (or has it yet)?

But the rest of the rendering...LOL...the hundreds of 1980's style office buildings filling the background!

ATL_J · #**1851** Posted **May 14, 2015, 1:59 PM**

Quote:

Originally Posted by arjay57

It's my understanding that financing for condo towers pretty much vaporized in the great recession of 2008-2013.

My SO was working on a condo project recently that had to go away, because financiers wanted something like 70% presales and the cost of capital was costly, because they're still skittish.

forj · #**1852** Posted **May 14, 2015, 3:55 PM**

alright - enough of that nonsense.. lets keep it civil guys.

Moderna render above looks friggin fantastic.. they have a damn running track on their pool deck! love it! That's where id live if i was anew NCR employee once they get that new HQ setup

joecool · #**1853** Posted **May 14, 2015, 6:09 PM**

I think I asked this the other day but already forgot. When does Modera break ground? I actually love this design. I love the fact that the parking deck is completely hidden.

smArTaLlone · #**1854** Posted **May 14, 2015, 9:10 PM**

Quote:

Originally Posted by joecool

I think I asked this the other day but already forgot. When does Modera break ground? I actually love this design. I love the fact that the parking deck is completely hidden.

I don't believe it's known at this point unless there is someone with inside knowledge. Just based on where they are in the permitting process, I would say that of the tower proposals in Midtown they are the 2nd closest to breaking ground after Post Millennium. I've read that Post is planning to break ground in the 2nd quarter of this year. If I had to guess, I would say summer-fall.

Broadstone Terraces and 1010 Peachtree also appear likely to move forward soon.

Atlanta3000 · #**1855** Posted **May 14, 2015, 10:24 PM**

I love the design of Modera Midtown, but doesn't it strike anyone else as an odd location. I would think if a developer wanted to get the most premium rental rates in Midtown; they would buildadjacent to a MARTA station, 14th Street, Peachtree Street or by the Park. I am sure they know better than me...

BTW - I was thinking the design seemed very San Diego/LA.

scania · #**1856** Posted **May 14, 2015, 11:29 PM**

Quote:

Originally Posted by Atlanta3000

I love the design of Modera Midtown, but doesn't it strike anyone else as an odd location. I would think if a developer wanted to get the most premium rental rates in Midtown; they would buildadjacent to a MARTA station, 14th Street, Peachtree Street or by the Park. I am sure they know better than me...

BTW - I was thinking the design seemed very San Diego/LA.

It's not a far walk to the Midtown Train Station, and it's right there by the Publix.

RocketSurgeon · #**1857** Posted **May 15, 2015, 12:32 AM**

Quote:

Originally Posted by Atlanta3000

I love the design of Modera Midtown, but doesn't it strike anyone else as an odd location. I would think if a developer wanted to get the most premium rental rates in Midtown; they would buildadjacent to a MARTA station, 14th Street, Peachtree Street or by the Park. I am sure they know better than me...

It's pretty close to all of those things but one thing that will soften its value is being on top of the Connector. I'm sure they won't be charging the most premium rates for this and I'm sure they didn't pay the most premium amount for that land. Two other developments on that block are student housing which says something. I suspect buildings like Eviva will become condos; this one may not, but it's still very much in Midtown and not an odd location at all.

arjay57 · #**1858** Posted **May 15, 2015, 1:37 AM**

Quote:

Originally Posted by RocketSurgeon

It's pretty close to all of those things but one thing that will soften its value is being on top of the Connector. I'm sure they won't be charging the most premium rates for this and I'm sure they didn't pay the most premium amount for that land. Two other developments on that block are student housing which says something. I suspect buildings like Eviva will become condos; this one may not, but it's still very much in Midtown and not an odd location at all.

Freeway noise seems much louder when you are right up above it than when you are at the same level or lower. Sound walls and trees can make a surprising difference, too. I wonder what the sound is like at Skyhouse in Buckhead. Isn't that right on 400?

Still, a very nice looking addition to Midtown!

smArTaLlone · #**1859** Posted **May 15, 2015, 5:43 PM**

NEW APPLICATION: Peachtree at 17th Street
Project Type: Planned as a new mixed-use project on the northeast corner where three existing commercial buildings and a ‘pocket park’ currently exist.

The new development will include two buildings:
190,000 sf Office Building with 11,000 sf of street level retail and structured parking for 650 cars.
Residential/Hotel tower with approximately 206 luxury apartment units and 140 hotel guestrooms,
along with various amenity spaces and a street level retail café on the corner of 17th Street

smArTaLlone · #**1860** Posted **May 15, 2015, 9:51 PM**

http://news.gsu.edu/2015/05/14/georgia-s...or-new-student-housing-with-dining-hall/

Quote:

Georgia State University, the University System of Georgia and Corvias Campus Living broke ground Thursday, May 14 for a new student housing and dining hall complex, expected to be ready for students in fall 2016.

The new complex will be at the intersection of Piedmont Avenue and John Wesley Dobbs Avenue and will house about 1,100 students. It will also include a dining hall.

It is the first student housing facility in the University System of Georgia to be built and operated under a new public-private partnership between the system and Corvias Campus Living, authorized through a state constitutional amendment that Georgia voters approved in 2014.