ATLANTA | Development Thread VI

[Vaden]

Originally Posted by arjay57

I don't know whether they are having trouble selling it or whether it just takes a little longer to sell high end homes. The luxe towers nearby are pretty full up, so I wouldn't be surprised if they sell these units, too.

I don't know either. I was just going by what ATL_J said. Seemed to know something about it. I hope it goes up too.

[nature's calling]

Speak of the devil

per Portman's interview for the latest issue of The Atlantan. It seems Emerson is very a go and will be rising soon

http://i67.tinypic.com/25owjep.jpg

[Atlanta3000]

JPX Works - 3rd & Peachtree Condo???

http://kenbabinchak.com/works/the-bridges-at-riverside/

[arctk2014]

Originally Posted by Atlanta3000

JPX Works - 3rd & Peachtree Condo???

http://kenbabinchak.com/works/the-bridges-at-riverside/

If I'm not mistaken that's an old design for the project before they hired ODA to lead the design. MSTSD is the record (local) architect with ODA on both JPX towers.

[joecool]

Now THAT would have been a funny April fools joke!

[Libertarian]

(deleted)

[ATL CTO]

OPUS Pre sales office has really come together the last few days. The amount of trucks and workmen on site has been much larger than usual.

[ATL_J]

Originally Posted by Vaden

I don't know either. I was just going by what ATL_J said. Seemed to know something about it. I hope it goes up too.

I don't have any inside information, I just heard sales were slow, so intuitively thought that that could have been the issue. Also, having seen sales paces of other high end condo buildings, including resales, I am highly interested to see how Opus Place sells. 200 luxury units is a lot to sell and I know 10%, according to Curbed's recent article, have pre-sold, but that is only 20 units.

[Verge]

Originally Posted by ATL_J

I don't have any inside information, I just heard sales were slow, so intuitively thought that that could have been the issue. Also, having seen sales paces of other high end condo buildings, including resales, I am highly interested to see how Opus Place sells. 200 luxury units is a lot to sell and I know 10%, according to Curbed's recent article, have pre-sold, but that is only 20 units.

They may have a lower pre-sale ratio depending on their financing--
say 30%-40% vs 50%. Pure and utter speculation.

[Ant131531]

Originally Posted by ATL_J

I don't have any inside information, I just heard sales were slow, so intuitively thought that that could have been the issue. Also, having seen sales paces of other high end condo buildings, including resales, I am highly interested to see how Opus Place sells. 200 luxury units is a lot to sell and I know 10%, according to Curbed's recent article, have pre-sold, but that is only 20 units.

Surprised they've even sold 20 considering they haven't opened the sales office or did the open house(which is this month) yet. If they can sale 50 by the end of May, I think they can actually start construction in October.

[nature's calling]

Latest renderings of Opus Place

[DNR]

I see a few more subtle changes in the design, although it still seems a little tall when compared to it's distant neighbors.

I suppose the new revisions will help draw attention away from the monotony of a slender glass box design.

I notice that balcony space will be at a premium with this design and I have to say, it seems more like an office tower than a condo building, especially when compared with the balcony space inherent in the development of other residential properties.

Maybe the formula for balcony space differs when comparing apartments and condos. Not really sure on that point.

[Atlriser]

I don't think the height looks out of balance as portrayed. It's looks about right but very hard to tell given the angles presented in the pics. It's what 55 floors and floor height will be slightly higher than the apt towers going up around it I'm fairly certain. The top parapet wall appears to be about 25' taller than the final floor. Seems correct to me.

[DNR]

Originally Posted by Atlriser

I don't think the height looks out of balance as portrayed. It's looks about right but very hard to tell given the angles presented in the pics. It's what 55 floors and floor height will be slightly higher than the apt towers going up around it I'm fairly certain. The top parapet wall appears to be about 25' taller than the final floor. Seems correct to me.

Sorry, I meant to say that the 1180 office building behind the Opus tower did not seem to be in the appropriate scale which makes the Opus tower appear larger. The Pomenade building look to be about the correct scale, but 1180 Peachtree is smaller than reality - which made the proposed Opus building seem taller when compared to it.

Sorry for the confusion.

[arjay57]

The Opus design is a very sophisticated look that will be a superb addition to Midtown, both on the skyline and at the street.

[GeorgiaPeanuts]

The Big Bethel Project in Sweet Auburn is moving forward with Benoit and Russell New Urban for a $120 million development. Paces Properties is also partnering to develop the retail in the GA state dorm phase.

The project – to be built in four phases over four years – will include the rehabilitation of Bethel Towers, a new parking deck with up to 850 spaces, the development of a mixed-use 1,000-bed student housing complex with 30,000 square feet of retail, and the refurbishment of the church’s administrative offices along Auburn Avenue.

The first phase will involve a complete renovation of Bethel Towers – a 180-unit residential tower that was built in 1971. All residents will have to be relocate during the reconstruction. Benoit said the decision to renovate the existing building rather than to demolish it and start anew will allow Big Bethel to provide affordable housing for its residents.

The first phase will cost between $15 million and $18 million, Benoit said.

The second phase is a parking deck in the center of the block to house between 800 and 850 cars, The deck will be available to the development and the general public. Benoit said the garage will cost between $15 million and $20 million.

The centerpiece of the development will be the third phase – a major residential development that will target students at Georgia State University.

The design envisions a pedestrian environment to encourage people to stroll along the project’s streets and hop on the Atlanta Streetcar that connects Ebenezer Baptist Church/King Center with Centennial Olympic Park.

That mixed-use phase will include about 30,000 square feet of retail that will be developed with Paces Properties. That phase is expected to cost between $60 million and $70 million.

The final phase will focus on four lots along the Auburn Avenue corridor for development of the church’s administrative space, ministry activity and additional retail. That includes a vacant lot as well as existing commercial space being used by the church.

Big Bethel’s pastor – the Rev. John Foster - said: “It is not the intention of the developer or the church to demolish any of the properties but to retrofit them.”

http://www.bizjournals.com/atlanta/news/...-join-benoit-russell-on-120-million.html

[Street Advocate]

Originally Posted by GeorgiaPeanuts

The Big Bethel Project in Sweet Auburn is moving forward with Benoit and Russell New Urban for a $120 million development. Paces Properties is also partnering to develop the retail in the GA state dorm phase.

1,000 bed student housing will be a nice addition to the area. I disagree they need an 800+ space standalone parking deck, although I will say if they are replacing the existing parking deck they'd have a stronger case. It's a half mile to a MARTA station and on the streetcar, which is hopefully expanded along the EST soon.

[ATL CTO]

NCR Phase II has been busy building an excellent wood fort.

[Vaden]

I know this isn't a skyscraper, but I've been wondering why nothing has happened with the Rufus Rose house. There was a big deal when it was sold to someone with big plans for it, but so far nothing.

[ATLmangum]

Any updates from last nights DRC meeting in Midtown?