ATLANTA | Development Thread VI - Page 482

skyscraperpage17 · #**9621** Posted **Aug 26, 2018, 2:27 PM**

Quote:

Originally Posted by Atlanta3000

Scoop - You heard it here first

I discovered proof another tech company is coming to Midtown. The project involves 500 jobs and a $16 Million investment for an office build out. The City has already approved project incentives.

The documents I found only used a project code name, so I am going the give the lead to my Bisnow contact to see if he can undercover more details. I will post here if he is not able to turn up anything.

Stay tuned.......

Will this be a HQ?

Atlanta3000 · #**9622** Posted **Aug 26, 2018, 3:18 PM**

Quote:

Originally Posted by skyscraperpage17

Will this be a HQ?

It doesn't say. It only indicates 500 jobs and $16,000,000 investment in a Class A location in Midtown.

Pemgin · #**9623** Posted **Aug 26, 2018, 3:58 PM**

Apologies if someone else already posted, but earlier this month 161 Peachtree Center Ave. filed for several permits, including site work to begin adding the tower to the existing parking deck.

clexmond · #**9624** Posted **Aug 27, 2018, 12:15 PM**

Quote:

Originally Posted by THWg

I’m shocked the Campanile is expanding. Working next door at Colony Square, the Campanile seems dead! I never see anyone going in or out of it at lunch time. Clearly, it’s anecdotal. But I’ll be very happy for better street interaction.

And ATL3000. Sorry for getting defensive earlier. I don’t have a strong opinion on HQ2 (I’m not educated enough on other cities’ proposals), but I pointed out since DC since everyone thinks it’s gonna there. And it’s definitely more likely to be there than Indianapolis.

You're not wrong. There's a sign in the lobby, immediately after the front door, offering the "largest contiguous space" in Midtown. The top 6 floors are empty and available (but still being offered at above market rates).

testarossa50 · #**9625** Posted **Aug 27, 2018, 1:19 PM**

Quote:

Originally Posted by clexmond

You're not wrong. There's a sign in the lobby, immediately after the front door, offering the "largest contiguous space" in Midtown. The top 6 floors are empty and available (but still being offered at above market rates).

Not saying this is wrong, but real estate availability signs are a terrible guide. My building has been 100% leased for years and the available up to 40k sf sign has never come down. Why would anyone ever take it down if it might generate a phone call?

Triptychtwo · #**9626** Posted **Aug 27, 2018, 1:30 PM**

The base of the crane is in for 5th & Juniper, should be going up any day now.

jayden · #**9627** Posted **Aug 27, 2018, 1:45 PM**

Drove by The Mark yesterday and looks like steel has already been delivered. Kind of weird since they haven't started on the foundation yet.

THWg · #**9628** Posted **Aug 27, 2018, 1:54 PM**

Quote:

Originally Posted by testarossa50

Not saying this is wrong, but real estate availability signs are a terrible guide. My building has been 100% leased for years and the available up to 40k sf sign has never come down. Why would anyone ever take it down if it might generate a phone call?

The Bizjournals Pandora article says the 14th and 15th floors have been empty for a decade. I'm sure there are more empty floors.

The expansion plans are very odd.

testarossa50 · #**9629** Posted **Aug 27, 2018, 2:12 PM**

Quote:

Originally Posted by THWg

The Bizjournals Pandora article says the 14th and 15th floors have been empty for a decade. I'm sure there are more empty floors.

The expansion plans are very odd.

Indeed, and agreed, but if there were a new tenant, as has just been rumored here, it's unlikely the sign would come down with any sort of urgency. That's why it's not a good piece of evidence.

Verge · #**9630** Posted **Aug 27, 2018, 2:38 PM**

Quote:

Originally Posted by Atlanta3000

There is some shady shit going on here. Dewberry bought this building in 2010 for $36 Million. How the heck can they say a 150K sqft office addition and 80K sqft of retail is an $88 Million renovation and expansion. Also, this bond was approved for this project with the understanding it was for the additional office space and retail. It was just reporting they are only doing the retail expansion. So did they revise the bond amount? I am going to guess NO.

Someone needs to audit the Development Authority of Fulton County!

https://www.ajc.com/business/dewberry-snags-midtown-campanile/3jbPsD6QhNT6HmcwTvY7iJ/

Not sure about anything else-- but construction costs seem somewhat in line for this one-- High rise construction north of $300-400/ sf, retail at north of $200. Office addition on an existing structure is very tricky-- Purchase prices have nothing to do with construction costs, especially with a building purchased in 2010.

Verge · #**9631** Posted **Aug 27, 2018, 2:42 PM**

Quote:

Originally Posted by jayden

Drove by The Mark yesterday and looks like steel has already been delivered. Kind of weird since they haven't started on the foundation yet.

With tariffs in place contractors are rushing to stockpile steel already present on American shores or manufactured here-- Hence (probably) the early buy out--

Triptychtwo · #**9632** Posted **Aug 27, 2018, 2:43 PM**

Quote:

Originally Posted by Atlanta3000

Scoop - You heard it here first

I discovered proof another tech company is coming to Midtown. The project involves 500 jobs and a $16 Million investment for an office build out. The City has already approved project incentives.

The documents I found only used a project code name, so I am going the give the lead to my Bisnow contact to see if he can undercover more details. I will post here if he is not able to turn up anything.

Stay tuned.......

Project Yogurt?

jwbab · #**9633** Posted **Aug 27, 2018, 2:51 PM**

Quote:

Originally Posted by Triptychtwo

Project Yogurt?

Project Yogurt Economic Opportunity Fund grant:
http://www.boarddocs.com/ga/investatlanta/Board.nsf/goto?open&id=B3XKSR52AF28

Project Yogurt Regional Economic Business Assistance Grant:
http://www.boarddocs.com/ga/investatlanta/Board.nsf/goto?open&id=B3XKSU52AF2B

Verge · #**9634** Posted **Aug 27, 2018, 2:52 PM**

Quote:

Originally Posted by Atlanta3000

Scoop - You heard it here first

I discovered proof another tech company is coming to Midtown. The project involves 500 jobs and a $16 Million investment for an office build out. The City has already approved project incentives.

The documents I found only used a project code name, so I am going the give the lead to my Bisnow contact to see if he can undercover more details. I will post here if he is not able to turn up anything.

Stay tuned.......

It's a Casino! ;-)

skyscraperpage17 · #**9635** Posted **Aug 27, 2018, 3:56 PM**

Quote:

Originally Posted by Verge

It's a Casino! ;-)

Would be nice.

shivtim · #**9636** Posted **Aug 27, 2018, 4:17 PM**

Quote:

Originally Posted by Pemgin

Apologies if someone else already posted, but earlier this month 161 Peachtree Center Ave. filed for several permits, including site work to begin adding the tower to the existing parking deck.

Thanks for the update. That's huge. This project would add hundreds of residents downtown without adding any parking.

skyscraperpage17 · #**9637** Posted **Aug 27, 2018, 4:37 PM**

ABC (Atlanta Business Chronicle) is speculating that the "Project Yogurt" company is Starbucks.

arctk2014 · #**9638** Posted **Aug 27, 2018, 6:59 PM**

Quote:

Originally Posted by skyscraperpage17

ABC (Atlanta Business Chronicle) is speculating that the "Project Yogurt" company is Starbucks.

I can't help but think of Spaceballs every time I read "Project Yogurt" in this thread.

jwbab · #**9639** Posted **Aug 27, 2018, 7:12 PM**

Any ideas what this could be?

Quote:

To deploy the donation from the AMBFF by entering into a consulting services agreement with ABT Associates, Inc. for the purpose of evaluating a certain transformative economic development project in the city of Atlanta

https://www.boarddocs.com/ga/investatlan...%20Services%20-%20Arthur%20M%20Blank.pdf

From the Invest Atlanta Finance Committee Agenda today

Verge · #**9640** Posted **Aug 27, 2018, 8:33 PM**

Quote:

Originally Posted by jwbab

Any ideas what this could be?

https://www.boarddocs.com/ga/investatlan...%20Services%20-%20Arthur%20M%20Blank.pdf

From the Invest Atlanta Finance Committee Agenda today

There are some interesting 'wheels turning' in Atlanta lately--