ATLANTA | Development Thread VI

[VaHiAtlanta]

Originally Posted by pica

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.

Agree 100% - heck I’d rather have smooth roads, timed traffic lights, a greater police presence and a lighted and expanded Beltline. In the long run it would do more for the city IMO.

[skyscraperpage17]

Originally Posted by Atlanta3000

[COLOR="Blue"]
The obvious reason is jobs. Norfolk, VA is a relatively small city and Norfolk Southern is their only Fortune 500 company.

Actually, they are 3 other Fortune 500 companies based there (2 of them being Dollar Tree and Smithfield Foods).

[Libertarian]

CIM is LA-based investors and they're playing us for their benefit. The considerable profits that are generated will go to their coffers in LA. Meanwhile Atlanta is further impoverished and taxpayer dollars are drained. It's the mother of all miss-allocated resources.

[jtown,man]

I can literally throw a rock at the NS HQ from my apartment window. I sure hope they don't leave, it will be a blow to us, for sure. We still have other large businesses and of course the worlds largest Navy base, but still.

In any case, if we lose it, Atlanta would be my first choice.

[Atlanta3000]

Originally Posted by jtown,man

I can literally throw a rock at the NS HQ from my apartment window. I sure hope they don't leave, it will be a blow to us, for sure. We still have other larges businesses and of course the worlds largest Navy base, but still.

In any case, if we lose it, Atlanta would be my first choice.

Hey JT,

I grew up in Williamsburg so I have mixed emotions about them leaving Norfolk. However, I think Norfolk will bounce back regardless. Thanks for posting!

[Atlanta3000]

Originally Posted by scania

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

100% I am sick of this incentive game. However, landing HQ2 could be pivotal to Atlanta getting off the incentive train. Why?
[INDENT]- The median income in Atlanta is less than $50K. Having 50K people making $100K will go a long way to lifting our city's standard of living.

- Given the importance Amazon places on education, I believe they will force the CoA and the State to make a significant commitment to improve our K-12 schools.

- I suspect part of the State's package to land HQ2 will a multi-Billion dollar commitment to improve mass transit. Maryland included a $2 Billion infrastructure commitment.

- If Atlanta lands HQ2, our city will be guaranteed to be the next tech hub. Which means Venture Capital companies would be looking at our start-ups and drive hundreds of millions of dollars annually funding these companies.

- Having such a large company located in the heart of the city will help small business - not hurt them.

- Given the large investment Amazon would make in the city, the CoA could implement a policy of eliminating all tax incentives for commercial, retail, residential & hotel developments. With the exception of affordable housing.

- Politically it could change Georgia/for the better

[scania]

Originally Posted by Atlanta3000

100% I am sick of this incentive game. However, landing HQ2 could be pivotal to Atlanta getting off the incentive train. Why?
[INDENT]- The median income in Atlanta is less than $50K. Having 50K people making $100K will go a long way to lifting our city's standard of living.

- Given the importance Amazon places on education, I believe they will force the CoA and the State to make a significant commitment to improve our K-12 schools.

- I suspect part of the State's package to land HQ2 will a multi-Billion dollar commitment to improve mass transit. Maryland included a $2 Billion infrastructure commitment.

- If Atlanta lands HQ2, our city will be guaranteed to be the next tech hub. Which means Venture Capital companies would be looking at our start-ups and drive hundreds of millions of dollars annually funding these companies.

- Having such a large company located in the heart of the city will help small business - not hurt them.

- Given the large investment Amazon would make in the city, the CoA could implement a policy of eliminating all tax incentives for commercial, retail, residential & hotel developments. With the exception of affordable housing.

- Politically it could change Georgia/for the better

What makes you think they will all be making $100k. I now know 5 people who work for Amazon in Seattle. Only one makes above $100k.

[Atlanta3000]

Originally Posted by scania

What makes you think they will all be making $100k. I now know 5 people who work for Amazon in Seattle. Only one makes above $100k.

Amazon said the average salary is $100K in their RFP. The position I was interviewing for salary + equity was almost $300K annually. Also look at these sites to validate:

Glassdoor:
https://www.glassdoor.com/Salary/Amazon-Salaries-E6036.htm

Indeed:
https://www.indeed.com/cmp/Amazon.com/salaries?location=US%2FWA%2FSeattle

Quora:
https://www.quora.com/How-much-does-Amazon-pay-software-engineers-who-are-new-graduates

https://www.seattletimes.com/.../amazon/amazon-workers-median-pay-in-2017-28446/

Apr 18, 2018 - In Seattle, Amazon's more than 45,000 employees are paid an average of more than $110,000, according to an analysis of individual worker data posted to job review site Glassdoor.

[scania]

Originally Posted by Atlanta3000

Amazon said the average salary is $100K in their RFP. The position I was interviewing for salary + equity was almost $300K annually. Also look at these sites to validate:

Glassdoor:
https://www.glassdoor.com/Salary/Amazon-Salaries-E6036.htm

Indeed:
https://www.indeed.com/cmp/Amazon.com/salaries?location=US%2FWA%2FSeattle

Quora:
https://www.quora.com/How-much-does-Amazon-pay-software-engineers-who-are-new-graduates

https://www.seattletimes.com/.../amazon/amazon-workers-median-pay-in-2017-28446/

There are other sites and articles that mention different numbers. Also, I’m sure you know equity isn’t guaranteed, and to most people consider it money they’ll never really see. I do think they’ll be some good paying jobs.

[ATL CTO]

Soooo how's ol' OPUS coming along?

[Street Advocate]

[mayhem]

Trace looks like it's still U/C lol.

[Atlanta3000]

[briantech]

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.

That seems pretty overblown. No renters - students or otherwise - pay property taxes, just sales taxes. The building owners are certainly paying property taxes though and passing those costs onto whatever the rental market can bear.

Additionally students tend to not have cars nearly as much as non-student renters which puts a lot more pedestrians out on the sidewalks and increasing street level activity. Most of the student housing built in midtown thus far has had good retail frontages that are often very busy and thriving.

Office buildings are nice because they tend to be taller, but they also tend to become deserted the second workers get in their cars and drive home. This creates dead zones at night like pretty much all of downtown on non-event nights.

Students are residents and residents drive vibrant urban neighborhoods. Sure they aren't as great as people buying condos and staying there for 10 years, but there's certainly way worse alternatives.

[The Best Forumer]

Originally Posted by Atlanta3000

I like this.

[Atlantis]

Yes Please

[BlueSangha]

Are they finally moving on this!?

[DNR]

Originally Posted by The Best Forumer

I like this.

As far as the Office tower goes...I like the top-half, just wish there was a little more going on with the bottom-half as far as architectural interest. Kind of like they started at the top and lost interest with the bottom.

Still nice to see some progress.

[ATLMidcity]

Originally Posted by Atlanta3000

I'm sure it'll look better once developed, but it better NOT break ground before any one of the proposed office towers in Midtown - dammit!

I tried to post a nice pic at the top of the page to make it visually pleasant - and I was lucky this time around.

[atlnative73]

https://atlantaintownpaper.com/2018/09/c...eveloper-for-public-purpose-initiatives/

One step closer.....