I was reading a Wall Street Journal article today, which alluded to the fact that the Dallas, Los Angeles and New York operations would grow at the expense of Atlanta.
[QUOTE=Username123;8494315]The rendering of the office/condo with the apartment tower. Now I’d like to see that shopping center with DSW get redeveloped.
I thought I heard a while back, that eventually it will be.
On Monday, Regent Partners and Batson-Cook Development said they have formed a partnership with TIER REIT to develop 3354 Peachtree Road, a planned 44-story speculative office and condo tower overlooking Ga. 400 and the Buckhead financial district. The project has been in the planning stages for several years, and the partners say they intend to start construction before the end of this year and complete the tower in 2022.The Atlanta area has enjoyed several years of corporate job growth following the aftermath of a painful recession. Vacancy rates remain near historic lows for the metro area, pushing office rents higher.
Development of new speculative offices, meanwhile, has been relatively restrained as lenders enacted tougher standards and developers have been forced to overcome rising construction and land costs.Some economists fear the nation’s economic expansion, which dates to mid-2009, is getting old and the U.S. could see slowing growth or a recession in the years ahead.
David Allman, founder and chairman of Regent, expressed confidence in the Buckhead submarket. Only one other top-end office tower has opened in Buckhead in this building cycle, and that skyscraper, known as Three Alliance Center, quickly filled.“We think the market is strong,” he said. “It’s limited supply and there are limited good development sites in the financial district, the core commercial district of Buckhead.”
What do you make of the Rufus Rose House for sale on Peachtree St. Obviously it's historic status, so it won't be torn down, but should be interesting to see who develops it. They have a chunk of land behind it too.
What do you make of the Rufus Rose House for sale on Peachtree St. Obviously it's historic status, so it won't be torn down, but should be interesting to see who develops it. They have a chunk of land behind it too.
I'd like to see the house restored and the land used as a pocket park.
Regent Partners has now taken on a third partner in an effort to launch a new Buckhead mixed-use tower. Dallas-based Tier REIT is partnering with Regent and Batson-Cook Development to break ground on a 600-foot-tall tower in the heart of Buckhead's tony business district that will include 560K SF of office and 60 luxury condominium units. Terms of the deal were not disclosed. “They're the equity to go vertical on this project,” Regent Partners Director Adam Allman said. “With Tier REIT, we are advancing on full construction drawings.
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