ATLANTA | Development Thread VI - Page 381

jwbab · #**7601** Posted **Apr 2, 2018, 2:27 PM**

Quote:

Originally Posted by Street Advocate

I'd rather see JPX focus their developments on established walkable neighborhoods. Like New City, I'd prefer to see concentrated development in a select few neighborhoods the next few years.

Jarel Portman mentioned several months back (I think on Twitter) that JPX had another residential tower in Midtown in the planning stages - haven't heard anything more about it since.

Edit: Actually it was on Curbed Atlanta:

Quote:

Jarel
We are really excited about bringing this building to Atlanta. It will be an apartment building , as that is how we financed the project. We are actively looking to bring a " lilli " type building to midtown which would be a midmarket condo offering. We feel confident that we will achieve that goal. Thank you to everyone for your positive notes.

Posted on Jun 30, 2017 | 11:53 AM

https://atlanta.curbed.com/2017/6/30/15898034/lilli-midtown-atlanta-renderings-final-look

ATL_J · #**7602** Posted **Apr 2, 2018, 2:44 PM**

Quote:

Originally Posted by arctk2014

FYI The $400,000 pricing point for starter units was for Opus No.2 tower - not the Emerson.

the Emerson wasn't really in THAT great of a location as far as access to amenities within walking distance, transit, etc.

Unfortunately, the site is probably more valuable now to flip it to another developer since much of the due diligence of buying out and demolishing the previous low-rise condo project is already out of the way.

I would not be surprised to see them covert the project to rental apartments (with some changes) where, despite high supply, financing remains more favorable.

Atlanta3000 · #**7603** Posted **Apr 2, 2018, 2:57 PM**

Quote:

Originally Posted by arctk2014

the Emerson wasn't really in THAT great of a location as far as access to amenities within walking distance, transit, etc.

100% agree. If you want to have a successful condo project in Atlanta, you damn sure better locate it in an area that is in walking distance of restaurants, shopping and bars. If JPX would have bought the lot where the old Cheesecake Factory was in Buckhead, this project would almost be completed.

Ironically, I sent Jarel Portman a tweet today with a link to the Lilli pictures.

Street Advocate · #**7604** Posted **Apr 2, 2018, 3:02 PM**

Quote:

Originally Posted by Atlanta3000

Ironically, I sent Jarel Portman a tweet today with a link to the Lilli pictures.

Nice! They've been responsive and maybe we can get some more insight as to what's next and where

The Best Forumer · #**7605** Posted **Apr 2, 2018, 3:15 PM**

Quote:

Originally Posted by Street Advocate

Nice! They've been responsive and maybe we can get some more insight as to what's next and where

I agree with you. Hopefully they will come through.

sbrptree · #**7606** Posted **Apr 2, 2018, 4:21 PM**

Quote:

Originally Posted by Street Advocate

I'd rather see JPX focus their developments on established walkable neighborhoods. Like New City, I'd prefer to see concentrated development in a select few neighborhoods the next few years.

Agree...BUT those buying condos in the $2 - $4M range DO NOT walk or take transit in this city. Bottom line.

arctk2014 · #**7607** Posted **Apr 2, 2018, 5:09 PM**

Quote:

Originally Posted by sbrptree

Agree...BUT those buying condos in the $2 - $4M range DO NOT walk or take transit in this city. Bottom line.

The location is really what's driving the desirability down at that price point.

There's a lot of competition with a lot of single-family housing nearby in Buckhead.

Verge · #**7608** Posted **Apr 2, 2018, 6:01 PM**

Quote:

Originally Posted by arctk2014

The location is really what's driving the desirability down at that price point.

There's a lot of competition with a lot of single-family housing nearby in Buckhead.

Nah-- this is the heart of Buckhead-- An ideal high end residential site. Says more about the depth (or lack thereof) of the market for 2M+ condos.

The Best Forumer · #**7609** Posted **Apr 2, 2018, 8:09 PM**

Quote:

Originally Posted by arctk2014

The location is really what's driving the desirability down at that price point.

There's a lot of competition with a lot of single-family housing nearby in Buckhead.

I don't know if I agree with this or not.

arctk2014 · #**7610** Posted **Apr 2, 2018, 9:38 PM**

Quote:

Originally Posted by The Best Forumer

I don't know if I agree with this or not.

Maybe I'm projecting too much, but a $2million - $7million condo in this location just seems odd. While even the most "urban" portions of Buckhead still appear relatively suburban the other towers are located in a denser area with some amenities/restaurants/shops/etc. This location is definitely suburban with the only amenit really being the view. Let's not forget the nearest pricing comps for these are all the penthouses at the Mandarin, St. Regis, Sovereign.

Why pay for a 3rd or 4th level view at that rate when you could just buy a penthouse available at the Mandarin?

scania · #**7611** Posted **Apr 2, 2018, 9:56 PM**

Quote:

Originally Posted by arctk2014

Maybe I'm projecting too much, but a $2million - $7million condo in this location just seems odd. While even the most "urban" portions of Buckhead still appear relatively suburban the other towers are located in a denser area with some amenities/restaurants/shops/etc. This location is definitely suburban with the only amenit really being the view. Let's not forget the nearest pricing comps for these are all the penthouses at the Mandarin, St. Regis, Sovereign.

Why pay for a 3rd or 4th level view at that rate when you could just buy a penthouse available at the Mandarin?

Hey I totally agree.

Atlanta3000 · #**7612** Posted **Apr 3, 2018, 11:17 AM**

Virgin Atlantic Moves HQ to Atlanta

http://randlereport.com/virgin-atlantic-moves-its-north-american-headquarters-to-atlanta/

PhunkyPho · #**7613** Posted **Apr 3, 2018, 1:20 PM**

Quote:

Originally Posted by Atlanta3000

Virgin Atlantic Moves HQ to Atlanta

http://randlereport.com/virgin-atlantic-moves-its-north-american-headquarters-to-atlanta/

I was really happy to hear this until I read the article. 40 employees in Delta's offices. It's great we are getting another HQ but I went into that article expecting Branson to have some really big plans for Atlanta. Oh well.

arctk2014 · #**7614** Posted **Apr 3, 2018, 1:33 PM**

Quote:

Originally Posted by PhunkyPho

I was really happy to hear this until I read the article. 40 employees in Delta's offices. It's great we are getting another HQ but I went into that article expecting Branson to have some really big plans for Atlanta. Oh well.

Branson ceded his controlling interest of Virgin Atlantic when it was sold to AirFrance-KLM (a Delta partner) last summer. Delta's the largest shareholder at 49% so this is a logical move for them. So Branson pretty much has nothing to do with this move now.

Atlriser · #**7615** Posted **Apr 3, 2018, 2:21 PM**

Geez! 40 employee addition is no small change. Expectations really are getting out of whack apparently.

skyscraperpage17 · #**7616** Posted **Apr 3, 2018, 3:20 PM**

Quote:

Originally Posted by Atlriser

Geez! 40 employee addition is no small change. Expectations really are getting out of whack apparently.

It's better than nothing, but still underwhelming.

That's maybe 160 new people total (in a nearly 6 million+ metro) and little/no money spent on new construction. Existing commercial establishments (both near the HQ and near their homes) will likely be able to easily meet the demend of these 160 people too (thus no new restaurants, retailers, etc.).

Atlanta3000 · #**7617** Posted **Apr 3, 2018, 5:19 PM**

Quote:

Originally Posted by Atlriser

Geez! 40 employee addition is no small change. Expectations really are getting out of whack apparently.

Exactly...and lest we forget Virgin Atlantic (VA) has over 8,000 employees. Given this is a HQ relocation, we can assume a significant number of VA's employees and partners will be visiting Atlanta to attend training and meetings. Net, net this is big. Not Amazon big, but certainly not insignificant!

https://en.wikipedia.org/wiki/Virgin_Atlantic

Atlanta3000 · #**7618** Posted **Apr 3, 2018, 5:24 PM**

AMLI OAK Valley - Buckhead (Under Construction)

This one is definitely under construction. Click on the link for additional renderings.

http://livablebuckhead.com/city-place-site-b/

jwbab · #**7619** Posted **Apr 3, 2018, 5:48 PM**

SAP filed today for Dewberry's Campanile building expansion at 1155 Peachtree.

Quote:

Campanile Expansion project, previously, partially reviewed under SAP-16-031.

Quote:

Expansion between 50,000 and 249,999 sf

https://aca3.accela.com/ATLANTA_GA/Cap/C...gencyCode=ATLANTA_GA&IsToShowInspection=

Here is a link to the previous SAP 16-031 filed on 2-29-16. It looks like the new filing was necessitated because the old one expired:

https://aca3.accela.com/ATLANTA_GA/Cap/C...gencyCode=ATLANTA_GA&IsToShowInspection=

The Best Forumer · #**7620** Posted **Apr 3, 2018, 6:04 PM**

Quote:

Originally Posted by Atlriser

Geez! 40 employee addition is no small change. Expectations really are getting out of whack apparently.

I'm sure most of them are high paying jobs. Not to mention any ancilliary positions and or newly generated business because of them.

If you don't want them... Houston will take them.