ATLANTA | Development Thread V

[jpk1292000]

Originally Posted by RocketSurgeon

28 stories for Peachtree and 7th? That kind of scale was inevitable, but man, Viewpoint is really getting walled in. Once that and Eviva are up there won't be many units left with long-distance views. That's the curse of being surrounded by surface parking I guess.

This is all fantastic but I am NOT looking forward to shopping at Publix after the thousands of units under construction are finished. With Tech back it's already impassable. I'm surprised a second grocer seems 2-3 years off... if someone opened a store tomorrow I think they'd be printing money. At least there's a Savi coming but what we really need is that Whole Foods or something similar.

Such an exciting time for Midtown... it's amazing to see this transition!

There are probably 20 major developments in Midtown that are in various stages of development/proposal and the neighborhood already feels very different today than even three or four years ago. In even a year it will be strikingly different and in two years unrecognizable.

I'm also very surprised that Sprouts or Earth Fare hasn't decided to open a store in one of the many mixed use towers planned for Midtown. It feels like one of these smaller footprint stores would make a lot of sense for this area and could be built on the order of 4 - 6 months rather than years like the Whole Foods development.

[GeorgiaPeanuts]

More info about the apartments replacing the Masquerade:

http://www.seccompanies.com/property-directory/North_and_Line

In the fall of 2015, Southeast Capital Companies and SWH Residential Partners will begin developing "North & Line", an apartment building asset on North Avenue immediately adjacent to the Atlanta Beltline and Historic Old Fourth Ward Park. This development promises to deliver the most exciting living accommodations much-sought-after neighborhood of the Old Fourth Ward. The mere mention of this area evokes a sense of vitality, connectivity, and an urbane feeling not found in many neighborhoods in the metro fabric. As the city's continued gentrification trends towards a more dense and walkable built environment, the strategic location

The "Beltline" began as an Urban Design Thesis of a Georgia Tech grad student and has flowered into a reorientation and restructuring of the urban growth patterns inside the I-285 Perimeter of the city. The embryonic concept envisioned utilizing abandoned railway beds that once ringed the railhead city of Atlanta. The fleshed-out, urban design now is a means to add needed greenspace and connect city neighborhoods organically through the redevelopment along these repurposed rail corridors. North & Line will immediately adjoin the Beltline along the length of its eastern boundary - its "back yard", and the Historic Old Fourth Ward Park will serve as its "front yard" directly across N. Angiers Street. Thus, the North & Line residents will be able to avail themselves on both greenspaces that accommodate active adult lifestyles. The Beltline, while still in its infancy, nonetheless is a vibrant green space for outdoor activity and is also the future home of the new Street Car system. North & Line will actually offer three direct connections to the Beltline Corridor: two public access points and one private one. The Gateway Plaza is a collaboration between Southeast Capital and the City. It is a "winding garden trail" and access up to the Beltline at the southern end of North & Line. A private access for Residents will be provided from the Terrace Level of the building.

Given its aforementioned prominent siting, North & Line is strategically positioned to capitalize on the local revitalization and high demand for in-town apartments. The development site is collectively 3.3 acres. Housing 228 units, the asset will be a midrise apartment development with approximately 4500 square feet of ground floor retail space. It will be constructed as a five story, apartment community over a three (3) level, podium parking deck. The building amenities will include an elevated pool and ample pool deck overlooking the Historic Old Fourth Ward Park and the Atlanta skyline. Additionally, there will be a 5,000 square foot interactive, social space with a full fitness center. This space will also provide indoor-outdoor interaction year round to fully take advantage of the city views provided from this level. The unit plans will be numerous and offer one and two bedroom options. The ground floor retail is planned as restaurant space. A component coupled to this restaurant will be an outdoor dining venue. This dining veranda will also be adjacent to the Gateway Plaza, which offers pedestrian access to both the Beltline and the Park. The restaurant will be an inviting respite to patrons of both the Historic Old Fourth Ward and the Beltline, as well as other nearby neighbors. Another eagerly anticipated, future amenity is the new, high-end retail space that will be provided in the redevelopment of the Excelsior Mill Building.

Other notable amenities in the greater area include close proximity - across North Avenue - to the renowned Ponce City Market, an historic and rehabilitated structure housing mixed-use retail and office space. Additionally, North Avenue is a major east-west traffic artery enabling quick access and travel times to all business nodes in the city. Some of the surrounding neighborhoods include Inman Park, Virginia Highlands, Downtown and Midtown. Thus, North & Line is primed to leverage the energy being generated by the Atlanta Beltline on this adjoining leg of the Eastside Trail in this vibrant and emerging area.

[arctk2014]

Originally Posted by Kenn

Notice on the blueprints the "existing power pole to remain" folly. This is intolerable. BA has set a beautiful standard for the area along with the revamped Loudermilk park. The Elle development across from BA shaved a few precious bucks from their costs by leaving the bumpkin power and utility poles in place and now it seems this major pathetic will do the same. In Atlanta's most upscale area no less. How the local review board ignores or tolerates such a blatant aesthetic blunder is a real mystery. Atlanta's backward azation continues apace. Pathetic.

Why make private developers fork over the obscene amounts of money to bury power lines/utilties when it's technically in the public ROW? Buckhead Alliance should be working with GA Power and other utilities to facilitate removing the overhead lines and/or providing some incentives to get it done piecemeal with each project but to expect these developments to do it themselves is absurd if you really want to talk about costs. Just as someone else noted the long-term plans will be to bury the lines in most of the corridor along Peachtree regardless.

[Atlanta3000]

Originally Posted by GeorgiaPeanuts

Hmm, so this is the property that mixed-use permit was filed for: http://www.raulet.com/brochures/1781-Peachtree-Street-For-Lease.pdf

Doesn't look like the same property for 52 Seventeen Peachtree, but I never recall seeing a project for this address at the DRC pages.

All the permit says is:

If I remember correctly, this development is for an upscale senior care facility.

[RATBOYKEV]

Originally Posted by GeorgiaPeanuts

Also the DRC agenda is published for this month, looks like the consolidation of the properties south of Broadstone Terraces was in fact to build another multi-family.

With the three new projects listed, this puts the retail SF for completed/UC/proposed projects for Midtown over 500,00 sf since the first Skyhouse.

[arjay57]

Originally Posted by arctk2014

Why make private developers fork over the obscene amounts of money to bury power lines/utilties when it's technically in the public ROW? Buckhead Alliance should be working with GA Power and other utilities to facilitate removing the overhead lines and/or providing some incentives to get it done piecemeal with each project but to expect these developments to do it themselves is absurd if you really want to talk about costs. Just as someone else noted the long-term plans will be to bury the lines in most of the corridor along Peachtree regardless.

I don't have a problem with requiring infrastructure upgrades as a condition of new development. To me that seems reasonable.

The money could be set aside in a separate account so that the upgrades can be coordinated.

That's similar to the impact fee requirements that we already have in place. Unfortunately those funds have often ended up being spent on other projects, so you'd need to have strict accounting.

[Pemgin]

Anybody know why there's heavy machinery on the Beltline immediately south of Edgewood Ave.?

[jpk1292000]

Originally Posted by Pemgin

Anybody know why there's heavy machinery on the Beltline immediately south of Edgewood Ave.?

Aren't they just building out that section of the beltline?

[GeorgiaPeanuts]

Hines is rumored to be buying Atlantic Station for over 200m.

https://www.bisnow.com/atlanta/news/capital-markets/hines-buying-atlantic-station-for-200m-49523

I wonder what that will mean for the empty holes remaining in Atlantic Station. They already have plans in Sandy Springs to build a 50 story building (to be tallest building in a suburb.

[Verge]

Originally Posted by GeorgiaPeanuts

Hines is rumored to be buying Atlantic Station for over 200m.

https://www.bisnow.com/atlanta/news/capital-markets/hines-buying-atlantic-station-for-200m-49523

I wonder what that will mean for the empty holes remaining in Atlantic Station. They already have plans in Sandy Springs to build a 50 story building (to be tallest building in a suburb.

My understanding is that they are ONLY buying the retail portion-- not the outparcels, which are also for sale--

[jsvh]

Originally Posted by jpk1292000

Aren't they just building out that section of the beltline?

I don't think they have selected a contractor yet. It is out to bid now and closes in October if I remember correctly.

[arctk2014]

Originally Posted by Pemgin

Anybody know why there's heavy machinery on the Beltline immediately south of Edgewood Ave.?

Was this on the site that North American Properties bid on from the Atlanta BeltLine?

[micropundit]

On Sept. 1, plans were submitted in the city of Atlanta for a 94,000-square-foot hotel, 8,000 square feet of retail, 10,000 square feet of restaurant space and 56 housing units at Studioplex.The 140-room hotel is being planned on an existing parking lot at the Studioplex development by Christopher Plockelman, managing director of Beltway Investment International of Dublin, Ireland; Smart Hotels LLC; and Atlanta-based Hospitality Ventures Management Group.

Surber Barber Choate + Hertlein Architects, which also worked on Ponce City Market, is designing the hotel. Atlanta-based Square Feet Studio would design the hotel interiors.The hotel would feature a rooftop bar with skyline views, two restaurants and a film and television screening room (a nod to the state’s burgeoning industry). The hotel also would include an eating, drinking and shopping promenade facing the Beltline and about 3,500 square feet of meeting space.The hotel would front a soon-to-be-paved portion of the Eastside Trail that extends from Irwin Street to Edgewood Avenue. It would sit near The Atlanta Stove Works and Krog Street Market, a modern food hall that’s attracted new concepts from chefs including Ford Fry.


https://www.facebook.com/atlbizchron

[Pemgin]

Originally Posted by arctk2014

Was this on the site that North American Properties bid on from the Atlanta BeltLine?

No. It was on the Beltline right of way.

[shivtim]

A ton of great progress and announcements this week.

MARTA picks developers for Brookhaven, Chamblee transit developments

At Brookhaven/Oglethorpe, a joint venture between Integral Group and Transwestern Development Co. is proposing 330 apartments, 25,000 square feet of retail and 117,600 square feet of office space in phase one of the project. It wouldn't break ground until Summer 2017.

At the Chamblee station, a joint venture of Pattillo Industrial Real Estate and Parkside Partners LLC is proposing 13,000 square feet of retail and 38,000 square feet of office space. A park is also planned. The project could break ground by next summer.

Atlanta-based Cocke Finkelstein Inc. plans a nearly $45 million project on six acres along Peachtree Boulevard and Chamblee Tucker Road near the MARTA station. It includes a 283-unit apartment building, new restaurants, and townhomes.

[GeorgiaPeanuts]

Here is the project going in at Juniper and 5th
http://www.seccompanies.com/property-directory/Juniper_and_5th

Looks like it will blend well in the back to the low rise homes and townhomes along Piedmont.

[Ant131531]

Projects are continuing to bombard us in every direction. Renderings galore the last 2 months. The upcoming boom has to be Atlanta's biggest residential/hotel boom in decades, right? I mean, just in the city limits alone, over 10,000 apartments are under construction with another 15,000 or so proposed. This doesn't include other ITP cities like Brookhaven, Decatur, Chamblee, Doraville, Sandy Springs, etc.

We should be seeing some huge population increases over the next 5 years, both in the city and the metro.

[bigstick]

Originally Posted by Ant131531

Projects are continuing to bombard us in every direction. Renderings galore the last 2 months. The upcoming boom has to be Atlanta's biggest residential/hotel boom in decades, right? I mean, just in the city limits alone, over 10,000 apartments are under construction with another 15,000 or so proposed. This doesn't include other ITP cities like Brookhaven, Decatur, Chamblee, Doraville, Sandy Springs, etc.

We should be seeing some huge population increases over the next 5 years, both in the city and the metro.

Yes, it is literally "mind" boggling what is going on in this city currently...

[jpk1292000]

Originally Posted by GeorgiaPeanuts

Here is the project going in at Juniper and 5th
http://www.seccompanies.com/property-directory/Juniper_and_5th

Looks like it will blend well in the back to the low rise homes and townhomes along Piedmont.

This is a great looking project. Love the terraced units with the gardens facing Piedmont.

[jpk1292000]

Originally Posted by Ant131531

Projects are continuing to bombard us in every direction. Renderings galore the last 2 months. The upcoming boom has to be Atlanta's biggest residential/hotel boom in decades, right? I mean, just in the city limits alone, over 10,000 apartments are under construction with another 15,000 or so proposed. This doesn't include other ITP cities like Brookhaven, Decatur, Chamblee, Doraville, Sandy Springs, etc.

We should be seeing some huge population increases over the next 5 years, both in the city and the metro.

It's really amazing. And we're only getting started. While there may have been booms as big as the current one in the 1990s, this one feels more important because it will transform Midtown into a truly walkable urban neighborhood with an exciting street life that Atlanta has frankly lacked up until now. And it's not just Midtown. Inman Park, West Midtown, Buckhead, Poncey-Highlands all feel much more grown up and "world class" compared to even five or six years ago.

I believe that this transformation will spread to downtown soon. There is already progress downtown, but I think it will accelerate in the next 12 - 18 months. And the thing about downtown is that Fairle-Poplar has extraordinary potential. The neighborhood has the best bones of any neighborhood in Atlanta and, with some investment, could be extremely cool.