ATLANTA | Development Thread VI

[sbrptree]

Originally Posted by skyscraperpage17

Actually, they did at two times in history:

1. The roaring 1920s.

2. The late 90s / 2000s real estate bubble.

But yes, none of that was normal/sustainable and those days are long gone. It's not happening in today's economic environment.

Actually Atlanta’s super tall development was late 80s/early 90s....as someone who watched the tallest three get built

[THWg]

Originally Posted by Atlanta3000

Yeah Dale - Bezos, CEO of Amazon - the richest man on earth, owns a house in DC so that has to mean Amazon has committed to build their $5 Billion HQ2 somewhere in the DC Metro. Connect the dots...moron.

/sarcasm

Where did I say that HQ2 is going to metro DC because he has a house? I agree that's stupid to assume it's going there because of a house.

Try again.

[Atlanta3000]

Originally Posted by THWg

Where did I say that HQ2 is going to metro DC because he has a house? I agree that's stupid to assume it's going there because of a house.

Try again.

Don't get your fur up THWg - I was just kidding.

I do however would like to hear your reasoning.

[Verge]

Originally Posted by Atlanta3000

With all do respect Verge, the fine print didn't make it clear if the rendering was the 4M, 8M or 12M version. So at minimum, if I was the developer I would presented renderings yesterday for all three versions.

Keep in mind since 2016 Kasim Reed and the Hawk's owner had promised an "Entertainment District" to rival LA Live. So cut us some slack to those of us who feel yesterdays rendering are either (a) a letdown or (b) BS.

Additionally, didn't the CoA say late last week they are teeing up a minimum of $900 Million in incentives and it could scale to $1.75 Billion if CIM Group builds a campus suitable for HQ2? Look - I am the first person here to tattoo YIMBY across my ass, but if the CoA or CIM Group think they should be entitled to receive $900 Million (at minimum) in tax incentives for what was depicted in the rendering yesterday, they are full of (rhymes with hit)!

This is true-- I suspect its either the 4M or 8M sf version-- I don't think any of these designs are anywhere near final and are in some respects just placeholders for the final development. That said- I like what I saw-- nice scale, great streets- a true extension (or improvement) of Downtown. BTW-- this is TAD financing and is not coming from the city's general budget-- TAD financing just keeps the property tax increment above and beyond the first (undeveloped) value and gives it back as an incentive to develop. This site, in this location, probably deserves this-- not as sure about some Midtown sites, etc.

[skyscraperpage17]

Originally Posted by sbrptree

Actually Atlanta’s super tall development was late 80s/early 90s....as someone who watched the tallest three get built

I was referring to speculative developments.

Not sure if those buildings were speculative.

[WFTGATL]

Originally Posted by Verge

This is true-- I suspect its either the 4M or 8M sf version-- I don't think any of these designs are anywhere near final and are in some respects just placeholders for the final development. That said- I like what I saw-- nice scale, great streets- a true extension (or improvement) of Downtown. BTW-- this is TAD financing and is not coming from the city's general budget-- TAD financing just keeps the property tax increment above and beyond the first (undeveloped) value and gives it back as an incentive to develop. This site, in this location, probably deserves this-- not as sure about some Midtown sites, etc.

I think if it is built, it will happen like Atlantic Station, in phases as demand is there. The area could end up being just more streets and smaller holes w/o buildings.

[skyscraperpage17]

Just FWIW, it appears that the rumored Salesforce expansion (up to 5,000 jobs and 500K ft of space) is going to Chicago.

http://www.chicagobusiness.com/commercial-real-estate/salesforce-eyes-big-chicago-office-expansion

[scania]

Originally Posted by Dale

And frankly, neither could LA.

One could easily throw in Hollywood Park in LA. Though there’ll be a stadium involved, the mass of retail, housing, and corporate buildings...NFL Media and other businesses have already signed on to move there. As far as supertalls...LA just finished technically the tallest west of the Mississippi and have just laid groundwork for another new tallest West of the Mississippi about two months ago. With that being said, there are some supertalls being built.

[scania]

Originally Posted by GlobalResNativAtlant

It only takes a short perusal of CIM Groups projects in LA, Miami and Brooklyn to see that they way underestimate Atlanta.

This could be an important entertainment business and residential center of an 8 million person metropolis-- especially as Miamians flee sea level rise-- and they will as real estate goes underwater literally.

The City of Atlanta and CIM are being very short-sighted not to build this development around a multi-modal commuter train station.

I think the LA developer does not understand Atlanta's progressive spirit... which was always lightyears ahead of Miami.

This is a boring and unimaginative plan, which threatens it's viabilty... way worse than Atlantic Station.

Also, compare this rendering to any of the competitors' plans for HQ2... this is a loser.

Make grand plans to stir men's soul...

This has to be one of the most ill-informed post I’ve seen on here in a long time. You probably should actually visit Miami. And definitely visit Miami Brickell. The development and vision is second to none. I also believe Miami is called the Wall Street of the South. To say we are lightyears ahead of Miami shows the pure ignorance of both cities.

[jnihiser]

788 Marietta (the entire forest was cleared in the last few days):


Interface HQ redo on West Peachtree and 16th:

[ATLmangum]

Originally Posted by jnihiser

788 Marietta (the entire forest was cleared in the last few days):


Interface HQ redo on West Peachtree and 16th:

How’s the hotel progressing across the street?

[GlobalResNativAtlant]

Originally Posted by scania

This has to be one of the most ill-informed post I’ve seen on here in a long time. You probably should actually visit Miami. And definitely visit Miami Brickell. The development and vision is second to none. I also believe Miami is called the Wall Street of the South. To say we are lightyears ahead of Miami shows the pure ignorance of both cities.

Ok. I will admit my late-night rant went a bit off the tracks... but definitely not ill-informed, thanks.

I actually love Miami and admit to development envy. I used the word "was" because Miami was behind Atlanta for a century and half. But, I was actually trying to encourage creative development in Atlanta to be more like the design center Miami is today.

Other than the fact that it probably negates any possibility for commuter rail in Atlanta forever, I am thrilled for the Gulch development.

I realize that this uninspiring rendering was probably very preliminary... and look forward to seeing the next round of renderings.

Also, the site plan design that was submitted months ago doesn't look like it is related to the new rendering.

You are welcome to visit my blog to see how informed I am about Atlanta, beyond the fact that I have lived all over the world, dude.
wdanielanderson.wordpress.com

[sbrptree]

Noticed the first batch of J5 condos have been listed on www/redfin.com....from $377K to $707K...granted this is just a bucket of six condos. Sleek modern designs!

[scania]

Originally Posted by GlobalResNativAtlant

Ok. I will admit my late-night rant went a bit off the tracks... but definitely not ill-informed, thanks.

I actually love Miami and admit to development envy. I used the word "was" because Miami was behind Atlanta for a century and half. But, I was actually trying to encourage creative development in Atlanta to be more like the design center Miami is today.

Other than the fact that it probably negates any possibility for commuter rail in Atlanta forever, I am thrilled for the Gulch development.

I realize that this uninspiring rendering was probably very preliminary... and look forward to seeing the next round of renderings.

Also, the site plan design that was submitted months ago doesn't look like it is related to the new rendering.

You are welcome to visit my blog to see how informed I am about Atlanta, beyond the fact that I have lived all over the world, dude.
wdanielanderson.wordpress.com

Lol. No worries.
Also, keep in mind. When they talk about LA Live...LA Live didn’t happen overnight and is still a work in progress. We’ve more of a jump here because people do come Downtown and Midtown. When LA Live was built you almost couldn’t pay anyone to go to Downtown LA. With that being said, there’s now at least 10 skyscrapers that are presently being built around LA Live and I believe another 8 or 9 soon to break ground. What the Gulch does with its proximity to the GWCC, is spur of more convention business as well as more hotels, and hopefully a lot of residential growth. This is possibly much bigger than what some of us think on here. Look up Oceanwide LA which is apart of the LA LIVE, and imagine how something like that changes our entire feel of Downtown Atlanta. Tourist and locals bustling in the same vicinity with epic energy. Again, this could possibly be the biggest impact of our city. I love Midtown, but with all the new towers that have been built, nightlife is still a sleeper. Some of you may remember the plethora of people you would see walking around in and out of the Buckhead District before its demise...back when Atlanta was Hotlanta. The Gulch will be bigger with more to do day and night.

[Atlanta3000]

*************CODE BROWN*************

Gulch developer in discussions with possible Fortune 500 corporation — but it's not Amazon

Link to Article:
https://webcache.googleusercontent.com/s...1&hl=en&ct=clnk&gl=us&client=firefox-b-1

The economic development prospect is considering moving its headquarters to Atlanta. The Gulch, which has been tied to Atlanta’s bid to land Amazon.com Inc.’s (Nasdaq: AMZN) $5 billion HQ2 project, is the leading contender for the unidentified company.

“There’s a prospect in play,” Chris Riley, chief of staff for Gov. Nathan Deal, said after an Aug. 20 meeting of the Rotary Club of Atlanta.

According to city and state officals familar with the deal, the corporate prospect is one of the reasons why CIM is urgently trying to get approval for the project’s financing through the various governmental entities.

It also doesn’t mean Amazon is off the table for the Gulch. The Internet giant has made national headlines this year in its search for HQ2, a new headquarters that could create up to 50,000 jobs.

“We don’t know anything,” Deal said. “They still stay in touch with our economic development team ... I think the more we show that other businesses have affirmed being in Georgia is important for them, I think that sends a louder message than us telling them.”

[Atlanta3000]

Re: Gulch Development

• Before people go crazy - the new Fortune 500 HQ relocation to the Gulch is in addition to Amazon.
• I guess we now know why CIM Group has three versions for the redevelopment. With the 12 Million sqft version probably including Amazon and this new prospect.
• Note Governor Deal said the Economic Team has been in touch with Amazon. Several other cities have said they haven't been in touch with Amazon since their site visit.

[clexmond]

Originally Posted by skyscraperpage17

Just FWIW, it appears that the rumored Salesforce expansion (up to 5,000 jobs and 500K ft of space) is going to Chicago.

http://www.chicagobusiness.com/commercial-real-estate/salesforce-eyes-big-chicago-office-expansion

Salesforce is expanding by roughly 5000 employees per year and intends to announce similar expansion plans (in different cities) every couple of years.

[Atlanta3000]

Originally Posted by clexmond

Salesforce is expanding by roughly 5000 employees per year and intends to announce similar expansion plans (in different cities) every couple of years.

Expect to hear about their Atlanta announcement this year. I heard West Midtown/Star Metals.

[skyscraperpage17]

Originally Posted by clexmond

Salesforce is expanding by roughly 5000 employees per year and intends to announce similar expansion plans (in different cities) every couple of years.

Interesting.

If that's the case, at that rate, they're expanding at virtually at the same speed as Amazon.

[skyscraperpage17]

Originally Posted by Atlanta3000

Re: Gulch Development

• Before people go crazy - the new Fortune 500 HQ relocation to the Gulch is in addition to Amazon.
• I guess we now know why CIM Group has three versions for the redevelopment. With the 12 Million sqft version probably including Amazon and this new prospect.
• Note Governor Deal said the Economic Team has been in touch with Amazon. Several other cities have said they haven't been in touch with Amazon since their site visit.

In all fairness, just playing the devil's advocate amd keeping expectations in check:

1 Other cities could very well be lying when they've claimed there's been radio silence from Amazon. Given that the RFP said that Amazon has the right to enter into negotiations with candidates before a decision is made, that doesn't seem far fetched.

2. It's also possible that Deal misspoke. "Stay in touch" can mean a number of things.