ATLANTA | Development Thread V

[L.ARCH]

Originally Posted by Ant131531

That article was posted back in August....no permits have been filed yet for it.

Ooops! My bad. Thought this was new.

[Martinman]

Originally Posted by Ant131531

That article was posted back in August....no permits have been filed yet for it.

Actually they have already filed several permits for this project. I recently heard Greystar compared to Novare in terms of 'they know how to get sh*t done'. I'm glad they are building a nice high-rise project this time around.


https://aca.accela.com/atlanta_ga/Cap/Ca...gencyCode=ATLANTA_GA&IsToShowInspection=

[Ant131531]

End of 2015 Multi-family Residential development stats

Here's some interesting stats on Atlanta's current residential multi-family development boom and what's to come as January 1st, 2016.

*Note that these stats are only for apartments or condos. Townhomes, hotels, student dorms that don't specify # of units, or single family homes are not included in these numbers. This is also only for the city of Atlanta.*

Under Construction


Midtown submarket - 3,638 multi-family units are under construction in Midtown Atlanta.

Buckhead submarket - 3,010+ multi-family units are under construction in Buckhead. This includes Lindbergh, Buckhead Village, Lenox and basically anything north of I-75/I-85.

Total amount of units under construction the city of Atlanta - 9,803+

-Midtown/Buckhead make up over 69% of the multi-family units in Atlanta under construction at the moment.

Proposed

Midtown submarket - 5,130 multi-family units are currently proposed in Midtown Atlanta.

Buckhead submarket - 4,019 multi-family units are currently proposed in Buckhead.

Total amount of units proposed in the city of Atlanta - 12,063

-Midtown/Buckhead made up nearly 76% of all multi-family units proposed in the city of Atlanta.

Some notes/predictions

-Midtown is clearly poised to continue this unprecedented residential boom for at least another few more years. Even if all of the units currently proposed were constructed and no more units were proposed before 2020, Midtown will still have built over 10,000 multi-family units this decade which would equal roughly a 12,000+ residential increase in the .8 square mile Midtown core. That comes out to a 15,000 people per square mile increase in density across the area this decade.

-Buckhead is also poised to continue it's boom, particularly concentrating on the Buckhead Village area. Lindbergh is also seeing some appreciable density increases.

-If these stats show anything, it's that high density development has concentrated on mostly two areas of the city - Midtown/Buckhead. Based on the units proposed, that trend is unlikely to stop over the next year or so.

-I expect 2016 will continue to be good to Atlanta with more proposals announced, particularly in the Grant Park/Reynoldstown neighborhoods. I also expect one or two large scale announcements. The Atlanta economy is doing VERY well with some of the highest job growth in the country and that's unlikely to not be the case for the next few years. This will continue to fuel the multi-family boom.

Source for the data I collected: http://forum.skyscraperpage.com/showthread.php?t=209829

Thank you smArTaLlone for that information. Also, please take caution with this data, folks. It may not be fully updated or developments may be left off. Stats could be understated(which can't be bad, right?),
Happy New Years
and cheers to another great year for Atlanta development .

[Vaden]

Originally Posted by L.ARCH

Greystar Real Estate Partners is moving forward with plans for a roughly $150 million mixed-use project in bustling Midtown.

The developer is proposing a two-building project called Ascent Midtown with 323 residential units, a 165-key hotel, 3,000-square-foot restaurant and 3,000-5,000 square feet of retail and bike facility space.


http://www.bizjournals.com/atlanta/real_...es-forward-with-150-million-midtown.html

This will be HUGE for this part of midtown!

I've seen this proposal before. I must admit, I LOVE IT. Love the darker colors and the rooftop plants and the living wall and the varied heights. I actually like this one better than Modera Midtown. I truly hope this gets built soon.

[GeorgiaPeanuts]

The Peachtree St. sidewalk at Seventh Midtown has finally reopened partially.

Was a pain to have to cross multiple time when you factor in the 5th st. development a little further down the road blocking the other side of Peachtree St.

[NYbyWAYofGA]

Originally Posted by GeorgiaPeanuts

The Peachtree St. sidewalk at Seventh Midtown has finally reopened partially.

Was a pain to have to cross multiple time when you factor in the 5th st. development a little further down the road blocking the other side of Peachtree St.

Welcome to the New York experience. That's practically every other street here.

[arctk2014]

Originally Posted by Ant131531

End of 2015 Multi-family Residential development stats

Here's some interesting stats on Atlanta's current residential multi-family development boom and what's to come as January 1st, 2016.

*Note that these stats are only for apartments or condos. Townhomes, hotels, student dorms that don't specify # of units, or single family homes are not included in these numbers. This is also only for the city of Atlanta.*

Under Construction


Midtown submarket - 3,638 multi-family units are under construction in Midtown Atlanta.

Buckhead submarket - 3,010+ multi-family units are under construction in Buckhead. This includes Lindbergh, Buckhead Village, Lenox and basically anything north of I-75/I-85.

Total amount of units under construction the city of Atlanta - 9,803+

-Midtown/Buckhead make up over 69% of the multi-family units in Atlanta under construction at the moment.

Proposed

Midtown submarket - 5,130 multi-family units are currently proposed in Midtown Atlanta.

Buckhead submarket - 4,019 multi-family units are currently proposed in Buckhead.

Total amount of units proposed in the city of Atlanta - 12,063

-Midtown/Buckhead made up nearly 76% of all multi-family units proposed in the city of Atlanta.

Some notes/predictions

-Midtown is clearly poised to continue this unprecedented residential boom for at least another few more years. Even if all of the units currently proposed were constructed and no more units were proposed before 2020, Midtown will still have built over 10,000 multi-family units this decade which would equal roughly a 12,000+ residential increase in the .8 square mile Midtown core. That comes out to a 15,000 people per square mile increase in density across the area this decade.

-Buckhead is also poised to continue it's boom, particularly concentrating on the Buckhead Village area. Lindbergh is also seeing some appreciable density increases.

-If these stats show anything, it's that high density development has concentrated on mostly two areas of the city - Midtown/Buckhead. Based on the units proposed, that trend is unlikely to stop over the next year or so.

-I expect 2016 will continue to be good to Atlanta with more proposals announced, particularly in the Grant Park/Reynoldstown neighborhoods. I also expect one or two large scale announcements. The Atlanta economy is doing VERY well with some of the highest job growth in the country and that's unlikely to not be the case for the next few years. This will continue to fuel the multi-family boom.

Source for the data I collected: http://forum.skyscraperpage.com/showthread.php?t=209829

Thank you smArTaLlone for that information. Also, please take caution with this data, folks. It may not be fully updated or developments may be left off. Stats could be understated(which can't be bad, right?),
Happy New Years
and cheers to another great year for Atlanta development .

FWIW I think you'll see some downtown development activities starting to move dirt; more-so after the two stadiums have topped off concrete work (both should be topped off by mid2016)- which has had a profound effect on the cost of construction in this market.

South Downtown is slowly but surely gaining traction with a new arts district (not Castleberry Hill) that the Goat Farm has been backing lately as a more organic Arts District.

There are several residential projects/conversions either under proposal and/or finishing construction in the coming quarter that will start to bring in more feet to the sidewalks downtown after regular office hours - something more regular than the ebb and flow of tourists/conventions.

Redevelopment of Underground should finally gain some traction after a complex due diligence process so they can finally start construction/financing future phases.

Post's apartments at Centennial should finally break ground once construction costs have stabilized. These will finally bring in some comparables for other residential projects downtown that aren't conversions.

[Ant131531]

Originally Posted by arctk2014

FWIW I think you'll see some downtown development activities starting to move dirt; more-so after the two stadiums have topped off concrete work (both should be topped off by mid2016)- which has had a profound effect on the cost of construction in this market.

South Downtown is slowly but surely gaining traction with a new arts district (not Castleberry Hill) that the Goat Farm has been backing lately as a more organic Arts District.

There are several residential projects/conversions either under proposal and/or finishing construction in the coming quarter that will start to bring in more feet to the sidewalks downtown after regular office hours - something more regular than the ebb and flow of tourists/conventions.

Redevelopment of Underground should finally gain some traction after a complex due diligence process so they can finally start construction/financing future phases.

Post's apartments at Centennial should finally break ground once construction costs have stabilized. These will finally bring in some comparables for other residential projects downtown that aren't conversions.

Labor costs and shortages are certainly dampening just how much Atlanta as a whole could be building right now. Hopefully, this is a huge year for the construction industry here in Atlanta. Wages just need to be more competitive. If wages can nearly match those in say....NYC or Seattle, coupled with a lower cost of living, many skilled construction workers would move here and start work which would decrease construction costs and ultimately allow more projects to get started.

Let's hope this is the start of Downtown Atlanta's huge period. We still haven't gotten the scoop on the project near The Philips Arena which should be announced sometime in the next 2-3 months. From what I've been hearing, it's a huge project that's going to change the area completely. I can't wait.

[Atlanta3000]

Originally Posted by Ant131531

Labor costs and shortages are certainly dampening just how much Atlanta as a whole could be building right now. Hopefully, this is a huge year for the construction industry here in Atlanta. Wages just need to be more competitive. If wages can nearly match those in say....NYC or Seattle, coupled with a lower cost of living, many skilled construction workers would move here and start work which would decrease construction costs and ultimately allow more projects to get started.

Let's hope this is the start of Downtown Atlanta's huge period. We still haven't gotten the scoop on the project near The Philips Arena which should be announced sometime in the next 2-3 months. From what I've been hearing, it's a huge project that's going to change the area completely. I can't wait.

I can confirm the Philips Arena renovation/development will be a game changer for downtown. My close friend works for Ares Management (their CEO owns the Hawks) and he said it is a massive project.

[pawelra]

I can confirm that Post Centennial project may actually become condos that's the reason why it's taking so long. The developer is trying to make the builder expand warranty on the buildings. The contract has not been signed because of this. Lets just hope this will initiates the condo market for Atlanta.

[Atlanta3000]

Originally Posted by pawelra

I can confirm that Post Centennial project may actually become condos that's the reason why it's taking so long. The developer is trying to make the builder expand warranty on the buildings. The contract has not been signed because of this. Lets just hope this will initiates the condo market for Atlanta.

Really??? That is an odd place to go condo. Will they need to get pre-sales in order to kick off development?

[joecool]

Originally Posted by pawelra

I can confirm that Post Centennial project may actually become condos that's the reason why it's taking so long. The developer is trying to make the builder expand warranty on the buildings. The contract has not been signed because of this. Lets just hope this will initiates the condo market for Atlanta.

That's cool. I didn't like the Post development. Looked out of place for that area. Hopefully the condos will have more of an urban/modern look.

[Atlanta3000]

Hines T3 - Atlantic Station

[bryantm3]

Originally Posted by Ant131531

We still haven't gotten the scoop on the project near The Philips Arena which should be announced sometime in the next 2-3 months. From what I've been hearing, it's a huge project that's going to change the area completely. I can't wait.

Originally Posted by Atlanta3000

I can confirm the Philips Arena renovation/development will be a game changer for downtown. My close friend works for Ares Management (their CEO owns the Hawks) and he said it is a massive project.

i'm guessing you guys aren't talking about the lot that borders COP drive on the top and mitchell street underneath, near castleberry hill. you guys are talking about on the lot replacing the GA dome?

[Atlanta3000]

Originally Posted by bryantm3

i'm guessing you guys aren't talking about the lot that borders COP drive on the top and mitchell street underneath, near castleberry hill. you guys are talking about on the lot replacing the GA dome?

My buddy can't share specifics, but look for something akin to LA Live.

[bigstick]

Excellent read::
http://www.myajc.com/news/business/big-deals-will-atlanta-keep-the-momentum/nptx5/

[micropundit]

From new ballparks to urban revival, these 13 developments could reshape the region.

http://www.myajc.com/news/business/high-impact-projects-loom-large-in-2016/npwYn/

[Terminus]

Originally Posted by Ant131531

End of 2015 Multi-family Residential development stats
-Buckhead is also poised to continue it's boom, particularly concentrating on the Buckhead Village area. Lindbergh is also seeing some appreciable density increases.

-If these stats show anything, it's that high density development has concentrated on mostly two areas of the city - Midtown/Buckhead. Based on the units proposed, that trend is unlikely to stop over the next year or so.

Buckhead's growth will be limited to currently zoned sites. There is zero appetite there to up-zone any properties. In fact, no up-zoning that requires a chance to the CDP has been approved Buckhead for over two decades.

Another limiting factor that could affect existing zoned sites in Buckhead may be the dread M word... moratorium... or "interim controls," as they are legally known. There's a lot of concern brewing over the amount of rental going up in the Buckhead sub-market.

We shall see...

[RocketSurgeon]

Originally Posted by Atlanta3000

Hines T3 - Atlantic Station

Props to whoever is creating the renderings for this project. I love their homage to M.C. Escher and the way they play with the observer effect by moving the building to different lots and changing its size depending on the angle. If you ask me, far too many firms are releasing realistic images these days. Where's the fun and whimsy?

[Atlanta3000]

Originally Posted by RocketSurgeon

Props to whoever is creating the renderings for this project. I love their homage to M.C. Escher and the way they play with the observer effect by moving the building to different lots and changing its size depending on the angle. If you ask me, far too many firms are releasing realistic images these days. Where's the fun and whimsy?

Yeah - it's one thing to use artistic license to put a building on a different lot, another city, but the building should still look like what the architect intended.