ATLANTA | Development Thread VI

[jwbab]

Originally Posted by Libertarian

So it would seem the Fulco Dev Authority and Fulco tax assessor is complicit in a deal with Dewberry to refinance + provide a construction loan of total $88,650,000 for a building which as it stands is set to be 25% occupied; the project's economic rationale being bolstered by purportedly 800,000 sf of prospective tenant inquiries in one month? Well, I guess I should be shocked at the unmitigated shamelessness of it but all I really want to know is, how much is the cut?

In 2013 Dewberry Capital also closed a deal with the Development Authority of Fulton County (DAFC) for $66,000,000 in revenue bonds for improvements to the same building.

Link: (May 2013 Meeting) http://www.developfultoncounty.com/dafc/images/minutes/2013/2013.Board.Minutes.pdf

Fulton County property records show the deal was closed in December 2013. DAFC still holds title to the property as a result of the 2013 deal.

[Atlanta3000]

Originally Posted by jwbab

In 2013 Dewberry Capital also closed a deal with the Development Authority of Fulton County (DAFC) for $66,000,000 in revenue bonds for improvements to the same building.

Link: (May 2013 Meeting) http://www.developfultoncounty.com/dafc/images/minutes/2013/2013.Board.Minutes.pdf

Fulton County property records show the deal was closed in December 2013. DAFC still holds title to the property as a result of the 2013 deal.

What in the holy "F" is going on here?

[Libertarian]

What in the holy "F" is going on here?

Da money.

[Atlanta3000]

Originally Posted by Libertarian

Da money.

No, not Da $. It's called we have been frickin' Shawshank'ed w/o courtesy lubrication.

[Libertarian]

No money no honey.

[Atlanta3000]

Georgia State University Apartments - Atlanta, GA

Project Description

This will be a 20-story residential highrise apartment building, located in the heart of the Georgia State University (GSU) campus in Atlanta, Georgia. We will be incorporating the existing gas station at ground level, along with a new market and retail space. This project will incorporate a total of 384 micro apartment units and standard unit types, along with a roof-level amenities area: pool, clubhouse, exercise facility, spa, and roof garden.

http://www.oraarchitecture.net/contruction-project/georgia-state-university-apartments/

[jpk1292000]

Originally Posted by Atlanta3000

Georgia State University Apartments - Atlanta, GA

Project Description

This will be a 20-story residential highrise apartment building, located in the heart of the Georgia State University (GSU) campus in Atlanta, Georgia. We will be incorporating the existing gas station at ground level, along with a new market and retail space. This project will incorporate a total of 384 micro apartment units and standard unit types, along with a roof-level amenities area: pool, clubhouse, exercise facility, spa, and roof garden.

http://www.oraarchitecture.net/contruction-project/georgia-state-university-apartments/

Is this under construction?

[BlueSangha]

Originally Posted by jpk1292000

Is this under construction?

Not fond of the gas station idea, at all. Seems really odd, and unsafe.

[daharris80]

Originally Posted by BlueSangha

Not fond of the gas station idea, at all. Seems really odd, and unsafe.

I believe the gas station is already there.

[shivtim]

I think that's an old rendering, maybe just a proposal from that firm. Preston Partnership is listed as architect, and the project is listed on their website. Also the building permits are for a 26 story building, which matches Preston's design, not the ORA design.

Unless I'm wrong and they changed the architecture firm and the design?

[Street Advocate]

Originally Posted by BlueSangha

Not fond of the gas station idea, at all. Seems really odd, and unsafe.

Hopefully without derailing this too much, why? Because of inebriated college students, opportunity for theft, and the endless array of individuals who could visit a gas station? If I was a student there, I'd be more concerned about when fueling would occur and if it would disrupt my sleep (I used to live next to a hospital and the helicopter and early monday morning septic cleanup were my nemesis). 7/11's and convenience stores in general are essentially a holy grail for college students. I don't think many will mind it, so long as they serve taquitos.

I am not against gas stations in cities and would prefer if they were incorporated into building designs rather than taking up prime spots along 10th, Ponce, North Ave, Northside Drive, Highland Ave, Edgewood Ave, etc.

[GeorgiaPeanuts]

Was there ever any news about this proposal? 3172 Roswell Road?

Also a finished picture of Post Midtown, It turned out very well done, love all of Preston Partnerships designs

[Atlriser]

GSU Apartments - Construction fencing is up onsite. The picture above is not the design. What is being built is much better looking in my opinion and yes the gas station is existing and is incorporated into the new building. The Preston Partnership building is the correct design.

[Street Advocate]

Originally Posted by GeorgiaPeanuts

Was there ever any news about this proposal? 3172 Roswell Road?

3172 has been discussed, although I think that's a new rendering I had not viewed before. It's at the location of the old bbq joint across the street (northbound) from Hanover Buckhead. That area is turning into such a dense asset to the city.

[testarossa50]

I think it's awesome we're getting an urban format gas station. Isn't this the first one in Atlanta?

[Street Advocate]

My favorite part about post midtown is the rooftop pool. Hoping these become the standard in Atlanta mid and high rise developments, although wouldn’t hurt if the pool was larger!

[GeorgiaPeanuts]

The sale of the Civic Center is official:
https://www.bizjournals.com/atlanta/news...atlanta-closes-on-civic-center-sale.html

[L.ARCH]

http://www.wsbtv.com/news/local/atlanta/...r-sale-of-atlanta-civic-center/651489097


"Reed said Publix has already agreed to put a store at the location."
Reading between the lines here, but I speculate this means the current Publix store at North and Piedmont will be redeveloped.

[Street Advocate]

Originally Posted by GeorgiaPeanuts

The sale of the Civic Center is official:
https://www.bizjournals.com/atlanta/news...atlanta-closes-on-civic-center-sale.html

Was this an open bid process with public RFP's and proposal reviews? I searched online (briefly) and only found an RFP notice from 2014.

[Atlanta3000]

I am curious how the Civic Center site sold for $31 Million/20 acres, when the Turner Field GSU/Carter site sold for $30 Million/76 acres in 2016 and included a $200 Million baseball field. At least for $31 Million, the Atlanta Housing Authority has commitec to 30% workforce housing.