ATLANTA | Development Thread VI

[Terminus]

Originally Posted by Street Advocate

Never said student housing was wrong. But it's crazy if we continue to let student housing proliferate in Midtown. We're introducing thousands of transient bodies whose presence ebbs and flows with the school calendar, who generally do not have an income or pay taxes, and the developments are gobbling up limited space around in-town HRT stations. I'd rather see more long-term residences and offices provided immediately surrounding the HRT stations themselves, ie: Ponce & 3rd. Sure, nothing wrong with more student housing coming to the market (it even helps alleviate the rental housing market for locals), however there is merit to consideration of what/where all sorts of developments are built. Including private student housing developments.

You do know that non-students also live in those buildings, right? I know some folks that do.

It's illegal to only rent to students unless the building is owned by the institution.

[jwbab]

For those wondering about 1125 Peachtree, there is some progress going on at least with respect to garnering regional regulatory approval.

The Atlanta Regional Commission issued a request for comments yesterday as part of the Development of Regional Impact approval process.

DRI Preliminary Report: (Detailed site plan at bottom) http://documents.atlantaregional.com/Lan...%201125%20Peachtree%20-%20DRI%202821.pdf

DRI Traffic Study: http://documents.atlantaregional.com/Lan...%201125%20Peachtree%20-%20DRI%202821.pdf

DRI Traffic Study Addendum: http://documents.atlantaregional.com/Lan...%201125%20Peachtree%20-%20DRI%202821.pdf

These are the numbers quoted in the site plan:

1075 Peachtree - 725,000 SF of Office - 60,000 SF Retail - 414 key hotel - 52 signature residences

This is much larger than previously announced, right?

Edit: The numbers in the site plan don't match the numbers in the DRI application itself. I would assume the DRI numbers are correct.

761,000 SF tower consisting of 56 residential condominium units, a 250 room hotel, 200,000 SF office space, and 6,000 SF of street-level restaurant/retail space.

[Atlanta3000]

O Snap! - Another Fortune 500 to the Gulch (Not NS?)?

[Atlanta3000]

Originally Posted by jwbab

For those wondering about 1125 Peachtree, there is some progress going on at least with respect to garnering regional regulatory approval.

The Atlanta Regional Commission issued a request for comments yesterday as part of the Development of Regional Impact approval process.

DRI Preliminary Report: (Detailed site plan at bottom) http://documents.atlantaregional.com/Lan...%201125%20Peachtree%20-%20DRI%202821.pdf

DRI Traffic Study: http://documents.atlantaregional.com/Lan...%201125%20Peachtree%20-%20DRI%202821.pdf

DRI Traffic Study Addendum: http://documents.atlantaregional.com/Lan...%201125%20Peachtree%20-%20DRI%202821.pdf

These are the numbers quoted in the site plan:


This is much larger than previously announced, right?

Edit: The numbers in the site plan don't match the numbers in the DRI application itself. I would assume the DRI numbers are correct.

Hey Eagle Eyes - awesome catch. That certainly is much larger than first reported. If this is true, this will not be a 45 story building either.

[Street Advocate]

Originally Posted by Atlanta3000

Hey Eagle Eyes - awesome catch. That certainly is much larger than first reported. If this is true, this will not be a 45 story building either.

Those numbers are staggering. 725k of office is larger than 1105 W. Peachtree and 414 hotel keys is more than 1125 and 1105 combined. Add in the 50 residences and this could be a behemoth. That said, this may be the max proposed for the site and a scaled down version is what's built? I'm not sure what to make of the DRI figures.

Edit, this is what it says in the ARC doc, which is smaller than the original proposal: "Description: This DRI is in the City of Atlanta on the block bounded by 12th Street, Peachtree Street, 13th
Street and Juniper Street. The development plan contemplates an approximately 45-story, 761,000 SF tower
consisting of 56 residential condominium units, a 250-room hotel, 200,000 SF of office space, and 6,000 SF
of street-level restaurant/retail space. Site access for vehicles is proposed via one driveway on 12th St., one
driveway on Juniper St., and one driveway on 13th St. (service/loading only). The local trigger for this DRI
review is a Special Administrative Permit (SAP) application. The estimated build-out year is 2021."

[Atlanta3000]

Originally Posted by Street Advocate

Those numbers are staggering. 725k of office is larger than 1105 W. Peachtree and 414 hotel keys is more than 1125 and 1105 combined. Add in the 50 residences and this could be a behemoth. That said, this may be the max proposed for the site and a scaled down version is what's built? I'm not sure what to make of the DRI figures.

Edit whoops seeing now the DRI has 250 rooms for the hotel. Still, that's a large proposal.

414 hotel rooms and 52 residences seems to be to specific for just a max capacity numbers.

[Street Advocate]

Originally Posted by Atlanta3000

414 hotel rooms and 52 residences seems to be to specific for just a max capacity numbers.

Yeah I wound up editing again after reading the document. I think it's pretty clear the numbers are what are expected.

[SuperStructureATL]

remove

[MdtwnATL]

Originally Posted by Atlanta3000

414 hotel rooms and 52 residences seems to be to specific for just a max capacity numbers.

This sounds like it was misinformation recycled from their Loews / 1065 Peachtree project since Loews is 414 rooms.

[jwbab]

Originally Posted by MdtwnATL

This sounds like it was misinformation recycled from their Loews / 1065 Peachtree project since Loews is 414 rooms.

You are exactly right. I need to learn to read site plans. The larger numbers I quoted above are for 1075 Peachtree, which is the block to the south including Loews.

[SuperStructureATL]

I walk by the Civic Center daily and took some photos today. The infrastructure work (for the first building) has been going on for almost 10 months now. It's moving very slowly, though they did stop work for almost 4 weeks, probably due to the massive sewer lines beneath the site which they have to work around. They are creating a massive concrete tunnel around the perimeter.

[Atlanta3000]

Originally Posted by SuperStructureATL

I walk by the Civic Center daily and took some photos today. The infrastructure work (for the first building) has been going on for almost 10 months now. It's moving very slowly, though they did stop work for almost 4 weeks, probably due to the massive sewer lines beneath the site which they have to work around. They are creating a massive concrete tunnel around the perimeter.

Thanks SSATL.

Did anyone else know the Civic Center was already under development?

[GeorgiaPeanuts]

Yes, you could see it from one of the stages at Shaky Beats in May.

[jwbab]

Originally Posted by Atlanta3000

Thanks SSATL.

Did anyone else know the Civic Center was already under development?

It is the the Clear Creek West Sewer Improvement - Civic Center Vault project. This is a City of Atlanta Department of Watershed Management project.

http://cip.h2o4atl.com/clear-creek-west-green-infrastructure-2/

[Atlriser]

The work being performed at the Civic Center site is City of Atlanta Sewer work, nothing more.

[pica]

Originally Posted by Atlanta3000

From Norfolk, VA Newspaper:

The NS HQ relocation is being used as a diversion for CIM Group and the CoA to get incentives for HQ2 - MARK MY WORDS.

https://pilotonline.com/business/ports-rail/article_67d98782-b2b8-11e8-8561-3faac9e3c8b7.html

Why are they using it as a diversion and how does it help them get incentives for HQ2? Honestly asking.

“First of all, let’s hope they don’t move for the obvious reason,” said
Deborah DiCroce, president and CEO of the Hampton Roads Community Foundation, whose board includes the CEO of Norfolk Southern. “My gosh, you don’t lose the headquarters of a Fortune 500 company without impact.”

What is the "obvious reason" this person is talking about?

[Atlanta3000]

Originally Posted by pica

Why are they using it as a diversion and how does it help them get incentives for HQ2? Honestly asking.

City officials and the Governor are pressuring the City Council to pass massive incentives for the CIM Group/Gulch by selling them on a Fortune 500 company (assumed to be Norfolk Southern). Norfolk Southern is believed to be looking at Atlanta, but not the Gulch site for a new HQ. So logically doesn't it make sense their efforts are for HQ2 if it is not Norfolk Southern?

Originally Posted by pica

What is the "obvious reason" this person is talking about?

The obvious reason is jobs. Norfolk, VA is a relatively small city and Norfolk Southern is their only Fortune 500 company.

[scania]

Originally Posted by Atlanta3000

City officials and the Governor are pressuring the City Council to pass massive incentives for the CIM Group/Gulch by selling them on a Fortune 500 company (assumed to be Norfolk Southern). Norfolk Southern is believed to be looking at Atlanta, but not the Gulch site for a new HQ. So logically doesn't it make sense their efforts are for HQ2 if it is not Norfolk Southern?

Are you not simply tired of us giving these tax incentives?

[jayden]

Whats the latest on Midtown Union? Where are they in the process of getting construction started?

[pica]

Originally Posted by scania

Are you not simply tired of us giving these tax incentives?

Incentives for CIM make sense on no level. They want $1.75 billion and in exchange we get a $500 million platform for them to build private streets and private buildings. For a corporate tenant that will also get their own absolutely massive tax breaks. If CIM wants to do a PPP to build the Beltline or an MMPT or some other public investment then that amount of money starts to make sense but it's absolutely bonkers otherwise.