ATLANTA | Development Thread V

[smArTaLlone]

Originally Posted by Verge

42,000sf of retail is TWICE the area of the average small shopping center--
This is a LOT of retail--

Exactly. Its a lot more than expected for that site. My point was that with that much retail, this is apparently an interior "mall" type deal. It appears to be open to West Peachtree street as well.

With this being the winner, I'm really curious about what Cousins proposed for this project.

[RocketSurgeon]

Originally Posted by smArTaLlone

Exactly. Its a lot more than expected for that site. My point was that with that much retail, this is apparently an interior "mall" type deal. It appears to be open to West Peachtree street as well.

With this being the winner, I'm really curious about what Cousins proposed for this project.

There might be an indoor component but I still think those renderings are rough and missing the storefront detail. If it turns out it really is supposed to be an indoor-only mall, I wouldn't lose much sleep over that because the DRC will never approve it. With all the foot traffic around there I seriously doubt that's what they're planning though.

[SFB]

This article popped up on the ABC this morning, but its behind a pay wall. Anybody have more information on it?

http://www.bizjournals.com/atlanta/print...ch-eyes-60-acre-westside-innovation.html

[GeorgiaPeanuts]

Originally Posted by SFB

This article popped up on the ABC this morning, but its behind a pay wall. Anybody have more information on it?

http://www.bizjournals.com/atlanta/print...ch-eyes-60-acre-westside-innovation.html

The development, which could initially encompass about 60 acres, would include a cluster of Georgia Tech research buildings on North Avenue and surrounding property owned by others, including the Atlanta Housing Authority, sources said. A more ambitious version sees the innovation district extending south beyond the Georgia World Congress Center and including the area immediately surrounding the new Atlanta Falcons stadium, a source said.

Georgia Tech was awarded a $460,707 federal grant to examine the feasibility of expanding Technology Enterprise Park, which provides 173,000 square feet of multi-tenant laboratory space in two buildings. The study will help determine, among other things, project costs, types of mixed-use activities and how the development might be integrated into the surrounding area. The University Financing Foundation (TUFF), Invest Atlanta, and the Atlanta Housing Authority served as partners to Georgia Tech in the grant proposal.

The project’s backers point to the success of Technology Square — an eight-block, mixed-used redevelopment on Fifth and Spring streets that transformed a seedy Midtown strip into a hive of tech incubators, innovation centers, startups and venture capital firms that is a national model for innovation district development. That commercial activity has set off a spurt of apartment and retail development in the area.

Kevin Byrne, president of TUFF, which owns one of the Technology Enterprise Park buildings, views the biosciences district as a live-work-play environment that would revitalize the Westside by luring investment and jobs from health services, life sciences, medical device and pharma companies.

The proposed health and biosciences innovation district would host university spinoffs from Emory University, Georgia Tech, Georgia State University, Clark Atlanta, and Morehouse School of Medicine, and provide land for Technology Enterprise Park tenants (CardioMems, Kemira, and CryoLife) to expand without leaving the area. The district would also attract research and innovation enterprises, such as the Global Center for Medical Innovation and the Georgia Tech Research Institute.

“We want to create an appropriate neighborhood for innovation and job-creation, long term,” said Chris Downing, associate vice president of Georgia Tech’s Enterprise Innovation Institute. “If we create a mixed-use neighborhood in that area ... with opportunities for additional research, the corporate presence will be expanded.”

Metro Atlanta lacks a master-developed biosciences park it can pitch to companies seeking expansion or relocation sites, said Russell Allen, CEO of Georgia Bio, an industry trade association.

Georgia Tech is wanting to create a Biotechnology Tech Square type development on the westside and potentially worming its way down to the stadium.

Also renders for the new office going into Atlantic Station are in the ABC today:

More than 20 companies have expressed interest in the project, which is expected to open by early 2017.

http://www.bizjournals.com/atlanta/print...ffice-building-will-target-startups.html

[GeorgiaPeanuts]

Good news for potential future developments. University House announced it was 100% pre-leased for the fall semester. I wonder if this will entice additional developers to build more student housing in that area.

http://app.bronto.com/public/?q=preview_....A8hFVg.b..l.BYEz.b.VWc7gA.VWc8SQ.SIL15w

I recall Ambling originally considered this for their student housing tower. That is the existing mid-rise at 10th and Williams. Maybe they will do this in a future phase:

[NewUrbanist90]

Can't get beyond pay wall - what is this in reference to?

http://www.bizjournals.com/atlanta/print...-hotel-apartment-towers-proposed-in.html

[boomtown]

1400 West Peachtree
Two towers by Greystar - one tower with 350 apartments, another tower for 200 room hotel, 5000 sf of street retail. Site being purchased from Jamestown just north of Center Stage. $150m project to be called Ascent Midtown.

[NewUrbanist90]

Originally Posted by boomtown

1400 West Peachtree
Two towers by Greystar - one tower with 350 apartments, another tower for 200 room hotel, 5000 sf of street retail. Site being purchased from Jamestown just north of Center Stage. $150m project to be called Ascent Midtown.

Thank you!

I am very excited to see the construction boom in Midtown move north.

And south, with the Georgia Tech project. Good things happening!

[boomtown]

Originally Posted by NewUrbanist90

Thank you!

I am very excited to see the construction boom in Midtown move north.

And south, with the Georgia Tech project. Good things happening!

Yes, lotsa potential in that area. The view down West Peachtree from the Peachtree Point area is really nice, even as it is now.

[joecool]

Where is this going? There is nowhere on 15th and Peachtree for a new tower to go. Do they mean W Peachtree?

[boomtown]

Originally Posted by joecool

Where is this going? There is nowhere on 15th and Peachtree for a new tower to go. Do they mean W Peachtree?

Location is 1400 West Peachtree

[Kh9142]

Originally Posted by boomtown

1400 West Peachtree
Two towers by Greystar - one tower with 350 apartments, another tower for 200 room hotel, 5000 sf of street retail. Site being purchased from Jamestown just north of Center Stage. $150m project to be called Ascent Midtown.

I have saw geotech drilling rigs in the parking lot behind the existing office building on this site in the past week. The parking lot also has signage that it will be closed for a few months, until sometime in August I believe.

[joecool]

Originally Posted by boomtown

Location is 1400 West Peachtree

But that is north of 17th street. I guess 15th was a typo?

[Ant131531]

Midtown is just ridiculous now. 3-4k units currently under construction with another 4k or so in the pipeline, 1.5k of those probably getting started by the end of the year.

There's gotta be that one massive project in the pipeline before this development cycle ends though. I would say it would be that big 14th street project, but I don't know if that still even exists.

[NewUrbanist90]

Just to throw this out there: with the recent Greystar proposal here is where Midtown stands in the grand scheme of development:

Under construction: 2138 residential units (68 condos)(2070 apartments)
Proposed: 5805 residential units (164 condos)(5641 apartments)
Proposed: 762 hotel rooms
Proposed: 810,000 sq ft Office space (plus NCR campus)

[GeorgiaPeanuts]

Another 22 Story tower for Buckhead:

http://buckheadview.com/2015/05/28/22-story-condo-to-replace-1955-condo-at-2520-peachtree-road/

[RATBOYKEV]

Originally Posted by GeorgiaPeanuts

Another 22 Story tower for Buckhead:

http://buckheadview.com/2015/05/28/22-story-condo-to-replace-1955-condo-at-2520-peachtree-road/

Wow, you never hear of existing condo buildings being bought out. I assume you have to offer a price that satisfies something like 2/3rds of owners in the building. Anyone have any idea what kind of buyout the current owners are projected to see??

[shivtim]

A few interesting zoning tidbits in midtown. Potential for a couple of small projects:
684 Penn Ave NE (behind Mary Macs) seeking to change zoning from R5 (two-family residential, minimum lot size 0.17 acres) to MRC-1 (mixed residential and commercial, maximum floor area ratio of 1.696).
1040-1078 Hampton St NW (basically along Northside drive north of 11th street in west midtown) seeking to change zoning for several parcels from R5 (two-family residential, minimum lot size 0.17 acres) to MR3 (multi-family residential, maximum floor area ratio of 0.696).

[GeorgiaPeanuts]

Whomever was asking about the Post Centennial Project, they've started permitting process now.

Also AMLI Arts Center received all its approvals now and is in plan coordination and so is closer to being issued land dev permits.

[Stairstars]

This is 1400 West Peachtree St NW:



The sign says "with parking" so it may include the small vacant lot on the corner to the right.