ATLANTA | Development Thread VI

[Atlanta3000]

Originally Posted by arctk2014

The question isn't whether or not they generate revenue - it's whether or not they generate enough revenue (economic impact) to "pay back" the cities who handed over money to help finance these projects.

Most often they haven't.

https://research.stlouisfed.org/publ...orts-stadiums/

https://news.stanford.edu/2015/07/30...s-noll-073015/

https://www.pbs.org/newshour/nation/...ports-stadiums

Mercedes Benz Stadium is not just for sports - that's why it has a roof. MB stadium is multi-purpose and why those articles don't paint the full picture of the economics for this particular project.

[Atlanta3000]

Originally Posted by Street Advocate

From curbed re: 725 Ponce:

“The project’s second phase will consume the parking lot in the distance (seen above), near Green’s Beverages on Ponce de Leon Avenue.

Irwin expects work to launch there when the current build is finished. “Honestly, it could anything,” he says, though a phase-two tower would max out at roughly half the current building’s size, with retail at the base.

Growing companies interested in 725 Ponce’s first phase have expressed interest in reserving space in the next flank for future employees.”

The Curbed Atlanta article had some great pics of the project. The interior, especially the bathroom is over the top.

Either this developer is delusional or they have a huge pipeline of prospects for this and their other projects. To my knowledge no one has leased any space here yet and the developer is talking about Phase II - half the size of 725 Ponce and in the same parking lot.

Less we forget, this is the same developer who bought 760 Ralph McGill right next door to 725 Ponce and they are planning 1.1 Million sqft of offices, 1,000+ residential units, 200K sqft of retail and a hotel. Most importantly they already have a funding partner and are scheduled to start the project in Q1 of 2019.

Exciting!

[Street Advocate]

Originally Posted by Atlanta3000

Most importantly they already have a funding partner and are scheduled to start the project in Q1 of 2019.

Exciting!

Whoah, this would be great! I forget, when does Georgia power move out??

[skyscraperpage17]

Originally Posted by Atlanta3000

Mercedes Benz Stadium is not just for sports - that's why it has a roof. MB stadium is multi-purpose and why those articles don't paint the full picture of the economics for this particular project.

There isn't a stadium built in the last few decades that isn't "multi-purpose."

[Atlanta3000]

Originally Posted by skyscraperpage17

There isn't a stadium built in the last few decades that isn't "multi-purpose."

Without a roof most non-sporting events will look elsewhere. So I stand by my original statement.

O - even the NFL has a preference to award cities a Super Bowl that have a roof/dome.

https://bleacherreport.com/articles/...m-weather-rule

[Atlanta3000]

Originally Posted by Street Advocate

Whoah, this would be great! I forget, when does Georgia power move out??

Aren't they already out?

Here is the story on the funding partner:
https://product.costar.com/home/news/shared/190334

[scania]

Originally Posted by AtlHeel

Another immeasurable value of MBS is the national, even international, marketing it has given the city. College football national championship, the final four, falcons and AU (hell they're talking about the stadium and our fans in Europe!) and future World Cup semifinals. Priceless advertising for the city.

The Georgia Dome did basically the same thing. With a capacity of 71k, expandable to 83k. Also, as far as Super Bowls, the NFL has been awarding cities that has a new stadium. This has been a trend for a few years now.

[Street Advocate]

Originally Posted by Atlanta3000

Aren't they already out?

Here is the story on the funding partner:
https://product.costar.com/home/news/shared/190334

Each time I’ve walked by there’s plenty of GA Power trucks/equipment on site. I was thinking they’ve extended their lease through the end of the year? But I cannot recall for sure. As soon as they vacate I’ll get excited for development.

If they break ground on the ga power development and 725 Ponce phase 2 at the same time, it’ll be great for the area. Unfortunately Kroger isn’t opening until spring/early summer next year, but this whole area is about to explode. REALLY hoping we can keep more local joints instead of all the corporate retail coming in. Starbucks coming in right on the beltline is the epitome of the potential shift though. I don’t want to see a bunch of Starbucks and soul cycles on the beltline. Wish we’d implement a ban on corporate dining, at least fast food for the beltline overlay. Princeton has similar zoning, although stuff like Panera still exists.

[cabasse]

Originally Posted by Atlanta3000

I saw that video Stucky, they used firecrackers.

were getting a stuckey's?

[Atlanta3000]

The Mark - Midtown (Under Construction)

[Atlanta3000]

Hardrock Hotel Downtown is now Reverb by Hard Rock

Bolton Atlanta Mixed-use Project aka Castleberry Park Project occupies a 2.4-acre land and is located at downtown Atlanta. Castleberry Park Project is adjacent to the Mercedes-Benz Stadium, the world’s largest halo board stadium and many other attractions in Atlanta, Georgia.

Castleberry Park Project is a comprehensive project with a combination of a 11-level boutique hotel (i.e. Reverb by Hard Rock), a parking deck compensating more than 375 vehicles, luxury apartment buildings and retail stores.

The hotel broke ground in March 2018 and the opening date is scheduled for January 2020. Plans call for a towering 197-room upper-upscale hotel featuring a rooftop bar offering outstanding views of the Atlanta skyline. REVERB by Hard Rock is designed to amplify the experience for guests or, as Hard Rock affectionately describes them, the movers, shakers and creators. Atlanta’s deep pool of creative talent, along with its booming film, television and music industry, make it an ideal location for the contemporary flagship hotel. This will be an exciting and non-traditional hotel for the Atlanta Convention and Visitor’s Bureau’s thriving business market.

[Atlanta3000]

126 Renaissance Parkway - Downtown

2 blocks from Emory Hospital in Midtown/Downtown

From the same developers as J & 5th, 788 West Midtown and Hardrock hotel

A class-A apartment project that takes advantage of Atlanta’s energitic Old Fourth Ward area. 126 Renaissance is developed with modern architectural style, avant-garde design and exquisite furnishings. The entire project comprises of storefront, apartments, roof gardens, parking lots and other supporting facilities.
​
The project will break ground at the 4th quarter of 2018 and is scheduled to be delivered in 2020.

[Historic]

Loving the Mark's updated facade, very clean and simple. Especially compared to the recent student towers popping up in Midtown (ugh UHouse).

HATE the updated Hard Rock renderings. That's my neighborhood and I'd rather them just convert it all to condos/apartments instead of some cheap looking hotel. I was wondering why they haven't actually started pouring concrete for several months, looks like it was a financing problem with HR and they had to downsize the scaling/plans.

[Easy]

Originally Posted by Atlanta3000

Mercedes Benz Stadium is not just for sports - that's why it has a roof. MB stadium is multi-purpose and why those articles don't paint the full picture of the economics for this particular project.

That’s not unique. All new football stadiums are alleged to be multi-use.

I’m skeptical of billionaires that ask for public handouts, but maybe this one works out. The new Rams stadium out here is even more ambitious with a planned “Entertainment District.“ The Forum is already there and a new arena is planned along with hotels and thousands of units of housing within walking distance. The best thing about all that is no public money was spent. There were tax deferrals, but I guess that’s a compromise for the potential.

[Street Advocate]

Toured a few apartments this weekend and only took photos from one. Hanover West Peachtree was really nice. Modera i wasn’t as impressed as I’d hoped. Also seemed to have a ton of students.

[jsvh]

Economists are basically unanimous in that stadium subsidies never end up being worth it.

But I understand the hotel / motel tax has special rules, so I am kind of OK with it. I see it basically as hotels pooling their money to increase their customer base in the area.

However, special tax breaks from the general fund are not OK.

[BlueSangha]

Digging The Mark.

[Atlanta3000]

Originally Posted by BlueSangha

Digging The Mark.

It is not ugly by any means, but it looks very clinical. Like it should have a Northside or Emory logo on top.

[BlueSangha]

Lol...Isn’t that what that logo is on the northern elevation?

[PhunkyPho]

Originally Posted by Atlanta3000

Hardrock Hotel Downtown is now Reverb by Hard Rock

Bolton Atlanta Mixed-use Project aka Castleberry Park Project occupies a 2.4-acre land and is located at downtown Atlanta. Castleberry Park Project is adjacent to the Mercedes-Benz Stadium, the world’s largest halo board stadium and many other attractions in Atlanta, Georgia.

Castleberry Park Project is a comprehensive project with a combination of a 11-level boutique hotel (i.e. Reverb by Hard Rock), a parking deck compensating more than 375 vehicles, luxury apartment buildings and retail stores.

HUGE let down!