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  #3481  
Old Posted Jul 3, 2011, 11:42 PM
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Dewberry buys 1400 Peachtree for $6M. "It purchased the tracts at such a low price that if Atlanta's job growth improves next year it could be one of the first Midtown developers to launch a building." Does this mean that this particular site could be the first developed or another site that is owned by Dewberry? Or maybe the first office tower developed? I guess we will just have to wait to see what happens.

http://www.bizjournals.com/atlanta/blog/...dewberry-buys-1400-peachtree-for-6m.html
or will he sit on it for years on end wich is typical for him...
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  #3482  
Old Posted Jul 4, 2011, 12:16 AM
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or will he sit on it for years on end wich is typical for him...
Actually Dewberry was one of if not the only major Atlanta developer who was left out of the news concerning bankruptcies and foreclosures. Props to him for being smart.

It's not like he doesn't take any chances. He bought the Campanile, which was a risk because it was a completely opportunistic purchase. That building needs a lot of work still and its largest block of available space will probably be difficult to fill up. Dewberry has also done a good bit for Peachtree Point (I mean did we even call the area Peachtree Point before Dewberry?).

And it's not 100% Dewberry why not all of his properties are immediately improved upon with 50 floor behemoths. The guy still has to rely on financing (duh). That's where the risk is, too. That's what got the lenders and the developers in trouble in the last cycle. Leverage is great for the IRRs and can increase them by 200 basis points or more, but increases the risk. I think Dewberry is one of the smartest developers in Atlanta. He does enough to improve the city and make it a better place, but he doesn't do it for his own ego (which is what got everyone else from Portman in 1992 to John Williams in 2008 in trouble). Pretty much everyone but Dewberry has been hit and now some are completely out of the game.
     
     
  #3483  
Old Posted Jul 4, 2011, 12:17 AM
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And might I add two things: Dewberry is a wramblin wreck from Georgia Tech and he's out to make money, not be a charitable cause for the city. Can we please get more developers out of Georgia Tech?? Ok, thanks.
     
     
  #3484  
Old Posted Jul 4, 2011, 5:04 PM
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Dewberry is a smart man and has done some good things. But imo he never does anything with an appealing style. He built the awful "olympic torch' across the highway from tech because he hated the one they did. I think it should be removed - it's an awful eyesore. His developments don't seem to add as much as they could / should to the site. And the architecture is average at best to me. He owns some of the best sites in the city that need visionary thinking. I hope he ultimately builds things that are worthy of those great locations.
     
     
  #3485  
Old Posted Jul 4, 2011, 11:17 PM
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Originally Posted by simms3_redux View Post
?....Dewberry has also done a good bit for Peachtree Point (I mean did we even call the area Peachtree Point before Dewberry?)........
Actually, both Pershing Point and Peachtree Point were both much more dynamic in the mid to late 1970's. Both were densely populated (by Atlanta standards) with many folks, mostly Gay men, living in older apartment buildings and converted hotels (now, all demolished). There was neighborhood supporting retail along Peachtree at Pershing Point. The sidewalks were active and vibrant. Among many other things, there was an Art House type cinema beside Rhodes Hall that drew crowds most nights. Overall it was a much different place--far from the boring sterile corporate wasteland of today. So really, the recent development along this particular stretch of Peachtree has not at all improved the neighborhood--in fact, it pretty much destroyed it.
     
     
  #3486  
Old Posted Jul 5, 2011, 1:19 AM
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Actually, both Pershing Point and Peachtree Point were both much more dynamic in the mid to late 1970's. Both were densely populated (by Atlanta standards) with many folks, mostly Gay men, living in older apartment buildings and converted hotels (now, all demolished). There was neighborhood supporting retail along Peachtree at Pershing Point. The sidewalks were active and vibrant. Among many other things, there was an Art House type cinema beside Rhodes Hall that drew crowds most nights. Overall it was a much different place--far from the boring sterile corporate wasteland of today. So really, the recent development along this particular stretch of Peachtree has not at all improved the neighborhood--in fact, it pretty much destroyed it.


I just did my research. It's no secret that gay men provided the impetus for the growth and redevelopment of Midtown, and the gay population (which I am part of) has a large influence, but is less influential now with the advent of young (straight) professionals to the area and empty nesters.

That being said, the corner of 10th and Peachtree was as seedy a corner as one could have in the entire country, and Pershing Point/etc was a single family streetcar neighborhood that saw decline and then slow renewal due to the gay men. The only thing that was high density about it (and the only thing besides single family homes) that was demolished was the Pershing Point Apartments, which was about 15ish floors. Everything else was single family homes that were rescued from utter disrepair and mostly empty sidewalks.

This happens in every city. What's there now is higher density and more diversified uses. Dewberry was not all of it, but he has improved the area from a tax base perspective and a value perspective. The Artmore Hotel is a much better hotel than any tiny thing that was there before. In addition, you have more residents living in the older apartment buildings, nicer office buildings (many of which address the street), and a few high rise apartment buildings (I live in 1280 West, which is 40 floors). The High is a draw, and now there is the MODA, the library branch, and a few other attractions. Center Stage is a huge draw for concerts and don't forget about the improv club right there, and now you have SCAD and John Marshall School of Law. The area is much livelier than it could have been. If you were a gay man living amongst other gay men in that era (the 70s), then I still don't understand your sentimentality towards what was. I came here in 2006 and even since then I notice a large difference in the area and in Midtown in general.

Hate to disagree with you, but Midtown is mostly headed in the right direction, Pershing Point included. If you want single family homes, look 2 blocks away to Ansley Park, which has homes that are so much nicer than anything that was in Pershing Point. (and might I add there are still a couple of notably saved homes in Pershing Point)

If Dewberry puts up a Pershing Park Plaza on every block, then yes, I will hate him. He won't.
     
     
  #3487  
Old Posted Jul 5, 2011, 2:35 AM
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interesting

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Originally Posted by jddar View Post
Actually, both Pershing Point and Peachtree Point were both much more dynamic in the mid to late 1970's. ...
Really interesting. And a shame. That area will continue to be sterile. Too bad the Atl Time Machine doesn't have some circa 60s-70s pics of these areas.
     
     
  #3488  
Old Posted Jul 5, 2011, 11:15 AM
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Pershing Point Apartments - 9 Floors, Demolished

View of Pershing Point in 1969

Pershing Point Hotel and area in the 1970s

All of these photos show the one majorly significant building that was demolished and a couple other neighboring buildings that aren't there or are modified now. The middle photograph shows Peachtree and all of those buildings are still there, being used either as offices or apartments. I don't see tons of people on the sidewalks in any of these pictures or any others I found. I really wish the Pershing Point Apartments/Hotel was still there and the APS deemed it one of the top 5 losses in Atlanta along with the Equitable Building and Terminal Station, but it's not like this area was the center of liveliness and throngs of people compared to today (or maybe the photographers paid all of the people to clear out for the pictures, heh). One photo says the area was the hub of the punk/new wave scene in the 1980s. Well, a couple hundred punks and gay men may not live here now (oh wait, gay men still do, just not as many of the older generation...give us a flippin chance too!), but they come to shows at Center Stage, Loft, and Vinyl, 3 music venues on one block in this 10 block area.

Seriously, though, between SCAD and John Marshall School of Law you have several buildings rehabbed as classroom space (being used all the time) and several buildings rehabbed or being rehabbed for dorms. Tons of students live in Art Center Tower (a renovated 1960s tower still alive and functioning with retail in the base...been to Davinci's Pizza yet? It's damn good). Tons of people of all backgrounds live in the 400 unit 1280 West. You have apartments near the Silhouette Building on Peachtree, and The Peachtree is a pretty well done office building that looks older/unique and adds a bit of character to the area.

The only four really sterile/corporate buildings are Pershing Point Plaza, the FHA building, and One and Two Midtown Plaza (and One Midtown has a freakin awesome lobby, btw). Oh, and Equifax. Everything else is at least ok and adding some sort of vibrancy.
     
     
  #3489  
Old Posted Jul 5, 2011, 2:55 PM
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^Thanks for posting those finds, Simms. Pretty interesting.
     
     
  #3490  
Old Posted Jul 5, 2011, 11:38 PM
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bldgs+

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Originally Posted by simms3_redux View Post
One photo says the area was the hub of the punk/new wave scene in the 1980s. Well, a couple hundred punks and gay men may not live here now (oh wait, gay men still do, just not as many of the older generation...give us a flippin chance too!), but they come to shows at Center Stage, Loft, and Vinyl, 3 music venues on one block in this 10 block area.
Two very different things.

Quote:
The only four really sterile/corporate buildings are Pershing Point Plaza
It's not solely the buildings, but also the character of the neighborhood, activity levels and so on relative to other parts of town or even other parts of Midtown. My sense is that as long as there are other dev opps, the central of gravity will continue to be further South in Midtown. Even once the dev of the Pershing Point area lots happens, it feels like it'll be a lot like it is now, corporate campus-like, some light foot traffic during commute times and lunch, maybe the music venues survive and otherwise spillover parking for big WAC shows. At least some part of that I think is because of the characteristics of the stretch of Pchtree immediately to the North and next few neighborhoods that will persist as lower density, etc.

And not that that is altogether negative necessarily...some people and companies prefer that sort of thing.

Anyway, good find on the images. Would really be nice to see photos of activity in that neighborhood. Some of the images of 1940's downtown are spectacular.
     
     
  #3491  
Old Posted Jul 6, 2011, 1:57 AM
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It's not solely the buildings, but also the character of the neighborhood...
It doesn't matter what buildings are there. The real issue at Peachtree Point is that it's sandwiched between a single-family residential neighborhood (at points separated by steep grades) and Buford Highway, grand entre to one of the country's largest highways.

There just isn't enough space to grow the critical mass and connections for a vibrant area there anymore. The only thing that might change that is the Dewberry proposal for a MARTA station there - but waiting for that is probably a lost cause.
     
     
  #3492  
Old Posted Jul 6, 2011, 2:17 AM
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It doesn't matter what buildings are there. The real issue at Peachtree Point is that it's sandwiched between a single-family residential neighborhood (at points separated by steep grades) and Buford Highway, grand entre to one of the country's largest highways.

There just isn't enough space to grow the critical mass and connections for a vibrant area there anymore. The only thing that might change that is the Dewberry proposal for a MARTA station there - but waiting for that is probably a lost cause.
That sounds about right. I think the only other way to make it a destination is to offer something people don't get enough of (here)...like say a lot of park/green space or the like.
     
     
  #3493  
Old Posted Jul 6, 2011, 12:00 PM
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Two very different things.
Anyway, good find on the images. Would really be nice to see photos of activity in that neighborhood. Some of the images of 1940's downtown are spectacular.
Downtown still gets a lot of foot activity (albeit perhaps a less desirable crowd). Pershing Point was a single family residential neighborhood with a streetcar line and a few apartments (mostly 2-3 floors) before our time. It was never a hustle and bustle place. Logic should tell you that. It was like Ansley Park with some businesses on 2 major thoroughfares and one 9 floor mid-rise with apartments. Once it fell into disrepair and gay men and punks took it over (for the better), I'm sure there was more hanging out and street level activity than when families lived in those houses, but relatively speaking here. It's not like apartment towers dotted the fruited plains and Pershing Point was Atlanta's nightlife/shopping district (pretty much the opposite as it still is).

I live in the area now and it is getting better and better. Midtown Alliance is wrapping up their streetscape on West Peachtree. Perkins & Will just did that building and MODA located there. The Artmore is becoming more popular. Davinci's Pizza just opened up. Center Stage/Loft/Vinyl (which attract punk bands and groups like Musiq Soulchild, coming) attract crowds. The High is pretty big time and attracts strolling families. There is a train station. John Marshall School of Law and SCAD have rehabbed older buildings and use them now, and as a result there are now students in the area in my building and in some of the older apartments that existed before our time. SCAD is renovating buildings in the area like crazy.

During the boom, there were several very large projects that were relatively close to commencing. 5 projects included 7 towers with commercial space on the ground floor. This area will always be quieter than Midtown Mile (but as it stands Midtown Mile is not exactly an 18 hour crowd). However, this area is not as bad as you people who don't live here anymore say it is. I walk this area and all the way down to the Fox every day, and it's not that bad and getting better.
     
     
  #3494  
Old Posted Jul 6, 2011, 7:53 PM
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GSU Loses out on bid to buy Equitable building: http://www.ajc.com/business/equitable-building-sells-for-1002281.html
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  #3495  
Old Posted Jul 6, 2011, 8:26 PM
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Originally Posted by simms3_redux View Post
Downtown still gets a lot of foot activity (albeit perhaps a less desirable crowd). Pershing Point was a single family residential neighborhood with a streetcar line and a few apartments (mostly 2-3 floors) before our time. It was never a hustle and bustle place. Logic should tell you that. It was like Ansley Park with some businesses on 2 major thoroughfares and one 9 floor mid-rise with apartments. Once it fell into disrepair and gay men and punks took it over (for the better), I'm sure there was more hanging out and street level activity than when families lived in those houses, but relatively speaking here. It's not like apartment towers dotted the fruited plains and Pershing Point was Atlanta's nightlife/shopping district (pretty much the opposite as it still is).

I live in the area now and it is getting better and better. Midtown Alliance is wrapping up their streetscape on West Peachtree. Perkins & Will just did that building and MODA located there. The Artmore is becoming more popular. Davinci's Pizza just opened up. Center Stage/Loft/Vinyl (which attract punk bands and groups like Musiq Soulchild, coming) attract crowds. The High is pretty big time and attracts strolling families. There is a train station. John Marshall School of Law and SCAD have rehabbed older buildings and use them now, and as a result there are now students in the area in my building and in some of the older apartments that existed before our time. SCAD is renovating buildings in the area like crazy.

During the boom, there were several very large projects that were relatively close to commencing. 5 projects included 7 towers with commercial space on the ground floor. This area will always be quieter than Midtown Mile (but as it stands Midtown Mile is not exactly an 18 hour crowd). However, this area is not as bad as you people who don't live here anymore say it is. I walk this area and all the way down to the Fox every day, and it's not that bad and getting better.
I totally agree with everything that you have said about the area...and you obviously know what you're talking about.

One or two "sterile" buildings do not constitute a neighborhood. There is much more to the area than that little stretch of Peachtree Street, but it takes more than a passing glance to really know this. If some people want to blame a particular developer then fine, but the entire area has improved a great deal in the 20+ years I've been in Atlanta...
     
     
  #3496  
Old Posted Jul 7, 2011, 12:55 AM
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http://www.gsu.edu/news/51811.html

News on the new construction going on at GSU, including the new classroom south building and dorms.
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  #3497  
Old Posted Jul 8, 2011, 5:46 PM
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PONCE CITY MARKET DEAL TO CLOSE JULY 11th

The city of Atlanta has reached agreement to sell City Hall East to the developer Jamestown Properties.

Atlanta Mayor Kasim Reed and Jamestown will announce July 11 the developer has acquired City Hall East, a 2 million-square-foot downtown building on Ponce de Leon Avenue that once served as a Sears Roebuck and Co. regional warehouse, catalog distribution center and retail store.

Jamestown and subsidiary Green Street Properties expect to inject at least $180 million into the project and redevelop City Hall East – the largest brick building in the Southeast – into a mix of residences, stores and office lofts.






http://www.bizjournals.com/atlanta/blog/...city-hall-east-deal-to-close-monday.html
     
     
  #3498  
Old Posted Jul 9, 2011, 1:19 AM
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The city of Atlanta has reached agreement to sell City Hall East to the developer Jamestown Properties.

Atlanta Mayor Kasim Reed and Jamestown will announce July 11 the developer has acquired City Hall East, a 2 million-square-foot downtown building on Ponce de Leon Avenue that once served as a Sears Roebuck and Co. regional warehouse, catalog distribution center and retail store.

Jamestown and subsidiary Green Street Properties expect to inject at least $180 million into the project and redevelop City Hall East – the largest brick building in the Southeast – into a mix of residences, stores and office lofts.





http://www.bizjournals.com/atlanta/blog/...city-hall-east-deal-to-close-monday.html

Wow. I can't believe this is really going to happen. This will be great!
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  #3499  
Old Posted Jul 10, 2011, 1:21 AM
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  #3500  
Old Posted Jul 11, 2011, 5:59 PM
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Green roof, foodie market planned for City Hall East site

The new owners of City Hall East are planning an organic garden, a "green" roof top and a foodie market akin to the Ferry Building in San Francisco or Pike Place Market in Seattle for the historic structure.The building has 2 million square feet of empty space and at least 6 acres of rooftop. Jamestown plans to demolish the parking structure along Glen Iris Drive and put about 2,000 parking spaces inside the 85-year-old building that once housed a Sears department store and "mail order" warehouse operation.

2014 is the target date for phase 1 of the project that is expected to have a $1billion economic impact over the next 10 years.



http://www.ajc.com/business/green-roof-foodie-market-1010516.html
     
     
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