Whoah! keep bringing offices to Midtown and bringing development closer to North Ave! Curious what this behemoth will look like. Kind of odd it only has 9,400 sq. ft. of retail for a large office and residential development. Coda, NCR, 1105 W. Peachtree, potentially this... excellent times for Midtown. Now if we can get rid of those freestanding parking garages taking up entire blocks and surface parking...
It's interesting that they separated the 5,000 square-foot Bank branch. This makes it sound as though this is well along in the development process with some players already signed on. I hate to say it but I'm not terribly optimistic for the design given that its Portman but I hope for something really nice from an urban perspective.
I hate to say it but I'm not terribly optimistic for the design given that its Portman but I hope for something really nice from an urban perspective.
I had the same feeling when I saw Portman. I'd rather Portman than Fuqua. In Atlanta, I'd prefer to see JPX, Hanover (Loudermilk), Jamestown, Georgia Tech, or Modera associated a development.
I had the same feeling when I saw Portman. I'd rather Portman than Fuqua. In Atlanta, I'd prefer to see JPX, Hanover (Loudermilk), Jamestown, Georgia Tech, or Modera associated a development.
Also whomever developed Azure on the Park, and that Broadstone Midrise on Juniper
It's interesting that they separated the 5,000 square-foot Bank branch. This makes it sound as though this is well along in the development process with some players already signed on. I hate to say it but I'm not terribly optimistic for the design given that its Portman but I hope for something really nice from an urban perspective.
The bank branch space would be for the SunTrust Bank that is currently at the site. This would be similar to the Standard where they will have a space for the Starbucks that previously existed at the location.
The bank branch space would be for the SunTrust Bank that is currently at the site. This would be similar to the Standard where they will have a space for the Starbucks that previously existed at the location.
Yeah I realized it after I posted. For some reason I was thinking that SunTrust was no longer on that block. That branch will be a built-in indictator if and when this project moves forward.
Portman Holdings is planning another two office towers across the street from its Coda project in Midtown.
The Atlanta developer has filed plans with the Midtown Development Review Committee for 740 West Peachtree St., which will transform a lot currently housing a SunTrust Bank branch into a two-tower project with more than 610K SF of office, nearly 10K SF of retail and commercial, a 5,500 SF bank and 140 residential units.
ortman Director of Leasing Travis Garland said in an email that the project would be speculative, meaning the company could go forward on construction without any office tenants committing to signing a lease.
Overall is not bad. I would prefer that it didn't have the huge above ground parking podium but if it has the same facade as the rest of the building it may be attractive. Also I'm not a fan of how the phase 1 building appears so bulky.
I'm so tired of Portman destroying this city with his awful buildings. Not one buiding he's built has been impressive thus far. He always builds his mediocre designs here and builds much more impressive projects elsewhere. It doesn't make any sense.
I guess my expectation was so low that I don't think it's that bad. As I said, the massing of the shorter tower is terrible but that's not something you're aware of very often once it's built unless you are in a nearby high-rise.
No one would likely argue that from an aesthetics perspective this 300k of office space would look more attractive if it wasn't on top of a parking garage and was taller.
But both of those would present real challenges to the feasibility of the development. In Atlanta tenants flock to office space with on site parking and larger footprints on each floor. When you're building on spec you are going to play into both of these tenant preferences. There are two recent examples of spec office towers in Atlanta: 1) Perimeter Summit (360K sq ft.) and 2.) Three Alliance (500K sq ft.) Both are rather squatty buildings (emphasizing contiguous sq. ft on each floor) and have on site parking.
From an overall feasibility perspective this developer is doing what the market calls for with a significantly smaller lot which forces it to be built on a parking deck.
That's not to say there aren't design choices that were made that might be subject to critique. The screening of the garage and decision to make the tower look like three towers have already been mentioned.
I think some of the comments on this project so far ignore the market driven pressures on a development like this. After all we're talking about 300K sq. ft. on 1/4 of a city block in a rapidly developed area of the city. Whatever gets built under those conditions is bound to fade away aesthetically and be a place where people go and sit behind a desk to work for 8-10 hours a week.
Then build the tower tall....instead of a 300 foot building, why can't you decrease the per floor space in half and make the tower two times as tall.
Portman's target market is high-tech. High-tech companies prefer larger footprints to facilitate collaboration. Be thankful these companies got away from the suburban corporate campus and are now flocking back to the city.
Several other interesting nuggets from the Invest Atlanta meeting:
New renderings of the King Memorial TOD were presented and the projected construction start date is listed as December 2017.
740 West Peachtree (the new Portman tower) got bond financing approved, so I'd move this into the "very likely to happen" category.
Colony Square repositioning has a September 2017 closing date listed.
Medical Arts building (currently vacant, downtown, near Pine Street and SunTrust) got funding to rehab into Class A office space, with a projected construction start date of 2018 (renderings on Board Docs).
Newport, the developer buying the blocks of real estate downtown, got bond financing and has a projected December 2017 construction date.
2018 could be another YUGE year.
The Underground Atlanta redevelopment got bond financing and has a projected December 2018 construction date (more than a year away).
Several other interesting nuggets from the Invest Atlanta meeting:
New renderings of the King Memorial TOD were presented and the projected construction start date is listed as December 2017.
740 West Peachtree (the new Portman tower) got bond financing approved, so I'd move this into the "very likely to happen" category.
Colony Square repositioning has a September 2017 closing date listed.
Medical Arts building (currently vacant, downtown, near Pine Street and SunTrust) got funding to rehab into Class A office space, with a projected construction start date of 2018 (renderings on Board Docs).
Newport, the developer buying the blocks of real estate downtown, got bond financing and has a projected December 2017 construction date.
2018 could be another YUGE year.
The Underground Atlanta redevelopment got bond financing and has a projected December 2018 construction date (more than a year away).
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keep bringing offices to Midtown and bringing development closer to North Ave! Curious what this behemoth will look like. Kind of odd it only has 9,400 sq. ft. of retail for a large office and residential development. Coda, NCR, 1105 W. Peachtree, potentially this... excellent times for Midtown. Now if we can get rid of those freestanding parking garages taking up entire blocks and surface parking...
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