ATLANTA | Development Thread VI

[Atlantis]

Based on my assessment the cost of Norfolk Southern new tower in midtown will cost 575 million and our tallest skyscraper which is Bank of America was sold in 2006 for $436 million gives us an idea or assumption we may be looking at a super-tall but the square footage is only 750,000 of office space??

[Street Advocate]

Originally Posted by Atlantis

Based on my assessment the cost of Norfolk Southern new tower in midtown will cost 575 million and our tallest skyscraper which is Bank of America was sold in 2006 for $436 million gives us an idea or assumption we may be looking at a super-tall but the square footage is only 750,000 of office space??

Selling price is not congruent w/construction costs.

[ericdeatl]

The Midtown DRC meeting is TONIGHT at 5:30 pm!

999 Peachtree, 5th Floor Conference Room

https://www.midtownatl.com/_files/docs/agenda-111318.pdf

If you are able to attend, please report back on what you learn!

Agenda:

5:30 pm: FOLLOW-UP APPLICATION: CA Ventures - 699 Spring Street (Spring St @ 3rd St.)
New student housing project of 27 stories with retail uses of 9,400 SF at the southeast corner of Spring St. and 3rd St. Two separate ground floor retail spaces are accessible from Spring St. and 3rd St. with a common lobby for residential access along Spring St. Above grade are six (6) levels of podium parking with ~292 parking spaces topped by 20 stories with 320 units (716 beds) marketed to students. The project locates both vehicular and loading access from a shared drive along 3rd St.

6:00 pm: FOLLOW-UP APPLICATION: CA Ventures - 903 Peachtree Street
New 32-story residential project with ground floor retail uses of ~12,000 SF at the southeast corner of Peachtree St. and 8th St. Retail space is accessible from Peachtree St. and the residential lobby entrance is on 8th St. Above grade are eight (8) levels of podium parking with ~549 parking spaces topped by 23 residential stories with 417 market-rate units. The project proposes separated vehicular and loading from 2 drives along 8th St.

[Pemgin]

Originally Posted by Atlantis

Based on my assessment the cost of Norfolk Southern new tower in midtown will cost 575 million and our tallest skyscraper which is Bank of America was sold in 2006 for $436 million gives us an idea or assumption we may be looking at a super-tall but the square footage is only 750,000 of office space??

We're not getting a supertall. Probably ever. This project is likely to be similar in size and scope as NCR. Two squat towers.

[cabasse]

Originally Posted by Libertarian

Yes, I think they're committed to Sec. 8. I'd rather see US/ATL developers be more proactive on low income housing rather than earnings and profits remitted to China.

i don't think any of this is section 8.


http://www.dezhuus.com/555-boulevard
http://www.dezhuus.com/542-boulevard
http://www.dezhuus.com/525-parkway


http://www.dezhuus.com/projects

[jpk1292000]

Originally Posted by Pemgin

We're not getting a supertall. Probably ever. This project is likely to be similar in size and scope as NCR. Two squat towers.

I agree on the two towers. Thinking one 30 story tower and another 12-15.

[AtlHeel]

Originally Posted by jpk1292000

I agree on the two towers. Thinking one 30 story tower and another 12-15.

I hear you guys. But imo if they really want to market a 21st century NS they should consider a signature tower. heck perhaps billions will see it during the world cup

[jpk1292000]

Regardless of whether it's two towers or one, the transformation of Midtown, at least from North Ave to 10th street into a dense, very urban area is occurring and will continue at a ridiculously fast pace unless there's a deep recession. Between Norfolk Southern, the three Portman towers (two already under construction), the student housing on 3rd, the student housing at 10th and Spring, the apt. tower at 8th and Ptree, the Cousins tower across from Renaissance hotel, the dual branded hotel at P'Tree and 3rd, and the GA Tech tower across from the Biltmore, and probably a project or two that I'm forgetting, this area is going to be really dense two years from now. That's even if only 60% of this list gets built and 60% is very likely since about 30% of it is already under construction.

Now just need to get things moving north of 10th and south of North Ave.

[sbrptree]

Originally Posted by AtlHeel

I hear you guys. But imo if they really want to market a 21st century NS they should consider a signature tower. heck perhaps billions will see it during the world cup

I do not see a railroad company going for a huge trophy tower (like many banks did in the 80s/90s). Would be great to see, but not holding my breath.

[Sura]

Originally Posted by ericdeatl

The Midtown DRC meeting is TONIGHT at 5:30 pm!

999 Peachtree, 5th Floor Conference Room

https://www.midtownatl.com/_files/docs/agenda-111318.pdf

If you are able to attend, please report back on what you learn!

Agenda:

5:30 pm: FOLLOW-UP APPLICATION: CA Ventures - 699 Spring Street (Spring St @ 3rd St.)
New student housing project of 27 stories with retail uses of 9,400 SF at the southeast corner of Spring St. and 3rd St. Two separate ground floor retail spaces are accessible from Spring St. and 3rd St. with a common lobby for residential access along Spring St. Above grade are six (6) levels of podium parking with ~292 parking spaces topped by 20 stories with 320 units (716 beds) marketed to students. The project locates both vehicular and loading access from a shared drive along 3rd St.

6:00 pm: FOLLOW-UP APPLICATION: CA Ventures - 903 Peachtree Street
New 32-story residential project with ground floor retail uses of ~12,000 SF at the southeast corner of Peachtree St. and 8th St. Retail space is accessible from Peachtree St. and the residential lobby entrance is on 8th St. Above grade are eight (8) levels of podium parking with ~549 parking spaces topped by 23 residential stories with 417 market-rate units. The project proposes separated vehicular and loading from 2 drives along 8th St.

*dies inside

[Street Advocate]

Atlanta HQ2 site renderings. Pretty interesting to get a visual of what built out sections of town might look like
https://www.bizjournals.com/atlanta/news...k-how-amazon-could-have-changed-the.html

[Street Advocate]

Originally Posted by Street Advocate

Atlanta HQ2 site renderings. Pretty interesting to get a visual of what built out sections of town might look like
https://www.bizjournals.com/atlanta/news...k-how-amazon-could-have-changed-the.html

Some appear similar to renderings we've seen previously. Some appear new.

Midtown North







***NOTE THE POTENTIAL CONNECTOR CAP***


Midtown South




***NOTE THE POTENTIAL CONNECTOR CAP***


Quarry Yards


O4W/PCM

[jwbab]

Warning! This website will consume hours of your time:

Atlanta's official Amazon bid site: https://www.chooseatl.com/amazon-hq2

This is a treasure trove of CRE information about Atlanta.

[Street Advocate]

Originally Posted by jwbab

Warning! This website will consume hours of your time:

Atlanta's official Amazon bid site: https://www.chooseatl.com/amazon-hq2

This is a treasure trove of CRE information about Atlanta.

Oh yeah this is super dangerous awesome info. A few notables: Love seeing the proposed bike infrastructure for the city as a whole, a map of all of Midtown's parking (lol), all the proposed projects (including some that may or may not actually be planned out but included as opportunities for development such as Dewberry), details of the proposed "lids", walk/drive/transit models duration models (including some underwhelming transit times), transportation system improvements, 725 Ponce phase 2 listed as 150,000 sq ft, 675 Ponce City Market rendering (on top of the concrete parking deck, do not recall seeing this in a while), and the quarry yards site plan is a bit odd... IMO. Some renderings and plans seem a bit dated, but then again I forget when we submitted the documents. Last year? Including the Georgia Dome in a site plan is just comical.

Two additional renderings from the HQ2 documents that I thought were noteworthy.

675 PCM (cannot recall if we've seen this exact rendering before, likely)


Quarry Yards site plan (IMO I don't like that much of it is designed like a suburban office park)

[jpk1292000]

https://www.bizjournals.com/atlanta/news...hern-could-occupy-new-midtown-hq-by.html

"The site for the new headquarters building contains about three acres at West Peachtree, Spring, Ponce de Leon and 3rd Street — a prime spot near the landmark AT&T building and the massive mixed-use project Coda."

The article mentions "the new headquarters building" in this sentence ^^^, not "the new headquarters buildings". That said, I don't think that this really confirms that a single tower is planned since it's so early in the design process.

[Street Advocate]

Originally Posted by jpk1292000

https://www.bizjournals.com/atlanta/news...hern-could-occupy-new-midtown-hq-by.html

"The site for the new headquarters building contains about three acres at West Peachtree, Spring, Ponce de Leon and 3rd Street — a prime spot near the landmark AT&T building and the massive mixed-use project Coda."

The article mentions "the new headquarters building" in this sentence ^^^, not "the new headquarters buildings". That said, I don't think that this really confirms that a single tower is planned.

Also noted is that construction could start by next summer and occupied by 2021.

[trainiac]

Originally Posted by jwbab

Warning! This website will consume hours of your time:

Atlanta's official Amazon bid site: https://www.chooseatl.com/amazon-hq2

This is a treasure trove of CRE information about Atlanta.

This is a pretty good marketting tool. They could just white-label it for the next HQ nibble.

The other website https://www.atlorettahq2.com/talent/ has a solid rundown of the state of tech in Atlanta. All the start-ups I've been involved in get multiple mentions. Saving that first PDF for any time someone asks me why they should relocate to Atlanta

[Atlantis]

I am excited to see >>>>>A Norfolk Southern team is working with Atlanta real estate company Cousins Properties Inc. to design the new headquarters building, Patti Carroll, assistant vice president of real estate with the transportation company, told members of the Invest Atlanta finance committee. And given Cousin's track record we will not be disappointed!!!

[jpk1292000]

Originally Posted by Atlantis

I am excited to see >>>>>A Norfolk Southern team is working with Atlanta real estate company Cousins Properties Inc. to design the new headquarters building, Patti Carroll, assistant vice president of real estate with the transportation company, told members of the Invest Atlanta finance committee. And given Cousin's track record we will not be disappointed!!!

I agree that the design will likely look really good. But I'm hoping that it's a great looking 50 story building rather than two great looking 25 story buildings.

[Atlantis]

Originally Posted by jpk1292000

I agree that the design will likely look really good. But I'm hoping that it's a great looking 50 story building rather than two great looking 25 story buildings.

Agreed