ATLANTA | Development Thread V

[A-town]

Originally Posted by scania

Being naive is comical. My ex-girlfriend who is a lawyer here in the city, is from NY(Manhattan). She's between 25-35. Though I perso love floor to ceiling windows, she's prefers the opposite. She loves windows, but feels that walls gives a more high end look and feel. She's not a fan of all glass towers. There are plenty of people who have that same opinion.
As far as Sovereign, St. Regis, and the Mandarin, it is absurd to compare them. In real estate, you have to nderstand that the price point of The Mandarin and St. Regis will typically take much longer to sell. Also, the price point of Sovereign did drop, which opened the market to a lot more buyers. Keep in mind that the W Hotel Residences downtown which is a shiny glass tower, has had an extremely hard time trying to sell those units.

I can understand why your ex would feel that way. Most of the buildings in NY are traditional. But I think the 25-35 demographic in Atlanta is definitely leaning towards the glass towers.
I don't think it's absurd to compare these towers. St. Regis and Mandarin are more expensive than Sovereign in that they both start in the $2,000,000 range. But they all have several units that are priced the same. Not to mention Sovereign almost has as many units as the Mandarin and St. Regis combined and it still out sold them. And I don't recall Sovereign ever dropping it's prices. In fact they did the opposite, Sovereign was originally suppose to start at $500,000 but it was increased to a million. And the W had a hard time selling because of the neighborhood and the fact that a one bedroom was priced the same as a two bedroom in other parts of the city. So it wasn't the type of building that slowed sales, it was price and location.

Originally Posted by Atlanta3000

Take a look at the site plan

http://livablebuckhead.com/wp-content/uploads/2015/03/1000-Park-Avenue-LBI-3-4-2015.pdf

I think they did the best they could considering the topology of the land, perserving the views for the 40 story condo beside it and limiting the shadows cast on the Million $ townhomes and single family homes across the street. But to argue that Skyhouse could teach this project a lesson, is down right stupidity. At least Wood Partners is putting the parking garage below grade to the physical structure and not an external parking deck (that always looks like shit). Which is how parking is done on higher-end projects.

No, it's stupid to ignore market trends and take what I said out of context.

[RocketSurgeon]

It looks like the tower crane is on its way up at the Novare tower site on West Peachtree... the base is there anyway.

The banners at the One Museum Place have said "we've started digging" for a couple months now, but I beg to differ... if there's been progress it doesn't show. Has something gone wrong or is the timeline just different from what the signs indicate?

[Atlanta3000]

Originally Posted by A-town

No, it's stupid to ignore market trends and take what I said out of context.

So I guess you know more about "Market Trends" than:

Is a national real estate company that acquires, develops, constructs and property manages high density and mixed-use communities.
In 2011, it was ranked the nation’s No. 1 multifamily developer with 3,750 unit starts. In 2012 it ranked No. 2 based on 5,100 unit starts.

Through quality construction, responsible land development and intelligent design, our communities reflect the aesthetic and social fabric of the community and provide a luxurious living experience at a fair price.

The company has been involved in the acquisition and development of more than 49,000 homes with a combined value of more than $7.6 billion nationwide. The company currently owns 77 properties with a combined total of 20,200+ units.

Wood Partners has offices in 16 major markets nationwide including Atlanta, Baltimore, Delray Beach/South Florida, Boston, Charlotte, Dallas, Denver, Houston, New York, Southern California, Orlando, Phoenix, Raleigh-Durham, San Francisco, Seattle, and Washington, D.C.

[A-town]

Originally Posted by Atlanta3000

So I guess you know more about "Market Trends" than:

Is a national real estate company that acquires, develops, constructs and property manages high density and mixed-use communities.
In 2011, it was ranked the nation’s No. 1 multifamily developer with 3,750 unit starts. In 2012 it ranked No. 2 based on 5,100 unit starts.

Through quality construction, responsible land development and intelligent design, our communities reflect the aesthetic and social fabric of the community and provide a luxurious living experience at a fair price.

The company has been involved in the acquisition and development of more than 49,000 homes with a combined value of more than $7.6 billion nationwide. The company currently owns 77 properties with a combined total of 20,200+ units.

Wood Partners has offices in 16 major markets nationwide including Atlanta, Baltimore, Delray Beach/South Florida, Boston, Charlotte, Dallas, Denver, Houston, New York, Southern California, Orlando, Phoenix, Raleigh-Durham, San Francisco, Seattle, and Washington, D.C.

AND you still missing the point! The point I was making is that I didn't see this building appealing to anyone under 50. And that the younger demographic would probably prefer the "Skyhouse type" developments (top floor amenity deck, elevated pool, ground level retail, modern) over this traditional atrocity. The most talked about project on this forum is 811 Peachtree which is a glass tower. Most of the new buildings that go up are glass towers. The market is trending towards glass towers!

[bigstick]

Just the Buckhead skyline from Ponce City Market---Huge

[briantech]

Originally Posted by bigstick

Just the Buckhead skyline from Ponce City Market---Huge

I really hope they put a big patio / pub / restaurant up there.

[shivtim]

Hoping the PCM roof-top mini-golf happens. That would be killer. The same guy posted the Midtown and Downtown views as well:





Photos by Jonathan Davis on Flickr

[Atlanta3000]

Originally Posted by A-town

AND you still missing the point! The point I was making is that I didn't see this building appealing to anyone under 50. And that the younger demographic would probably prefer the "Skyhouse type" developments (top floor amenity deck, elevated pool, ground level retail, modern) over this traditional atrocity. The most talked about project on this forum is 811 Peachtree which is a glass tower. Most of the new buildings that go up are glass towers. The market is trending towards glass towers!

A-town, I knew the point you were trying to make. The problem I have is you are not coming from a place of facts.

Read this and tell me if can still make your claim there is not a market for traditional architecture: http://www.nmhc.org/Content.aspx?id=4708%20

Fact: 41% of Apartment Dwellers are 45+ Years Old

[testarossa50]

Can we please stop bickering about this one building in Buckhead? We've all expressed our views on it. Time to move on.

[arctk2014]

Originally Posted by Atlanta3000

A-town, I knew the point you were trying to make. The problem I have is you are not coming from a place of facts.

Read this and tell me if can still make your claim there is not a market for traditional architecture: http://www.nmhc.org/Content.aspx?id=4708%20

Fact: 41% of Apartment Dwellers are 45+ Years Old

Kinda hard to compare Atlanta to the national average to make your point, but the area does affect the demographics. I can see something more bland catering to an older demographic up in Buckhead - given most of the other residential towers up there are still pretty traditional.

Midtown on the other hand has its fair share of traditional/modern rentals high-rises going up as well.

[scania]

I think a lot of you would be surprised of who actually lives in these high rises when it relates to age. Yes there are some young professionals...but whether you are in Midtown, or Buckhead, the majority of the residents are NOT young professionals. This isn't anything new. When Metropolis opened, to 1010 Peachtree, to 12th and Midtown, were pretty much the same, though Metropolis had a few more that fit into the young professionals.

[thebigATL]

Originally Posted by robertjhajek

Here's a little photoshop I just put together to show what it might look like

Wow! that would make an huge impact seriously!

[PremierAtlanta]

That's a nice rendering of 811 Peachtree. At 45 stories, that should out it near 500' if not more. The Atlantic is 577' and 46 stories. Of curse the Atlantic has a decorative top. I truly hope the developers keep the grocer at the base of the building. This stretch of Peachtree Street is really coming into itself.

[scania]

Originally Posted by thebigATL

Wow! that would make an huge impact seriously!

Agreed! This will be awesome!

[testarossa50]

Lots of stuff in today's ABC but most notably apparently someone is proposing a $55MM office building on North Ave a block east of Boulevard:

http://www.bizjournals.com/atlanta/print...building-latest-coup-for-old-fourth.html

[bigstick]

Originally Posted by thebigATL

Wow! that would make an huge impact seriously!

That is amazing, cannot wait for this beauty..

[shivtim]

Originally Posted by testarossa50

someone is proposing a $55MM office building on North Ave a block east of Boulevard:

http://www.bizjournals.com/atlanta/print...building-latest-coup-for-old-fourth.html

Wow, that would be great. Two blocks off the Beltline, good MARTA bus access (and on the proposed streetcar/beltline rail alignment, which they even include in the renderings), and building off the momentum of Ponce City Market. There are so many new apartments in that area - this will help balance it with more jobs.

[Atlanta3000]

Another Highlight from Today's Atlanta Business Journal - Buckhead Condo Project

JPX Works LLC plans to convert a 47 unit apartment building at 2520 Peachtree Road into a 130,000 square foot, 22 story condo building, with up to 100 units. JPX filed plans with Atlanta to rezone the site.

[micropundit]

525 North, a $55 million office project, a block from Boulevard. It is a 165,000-square-foot office building in the Old Fourth Ward that reflects the continued influx of people, investment, housing and jobs back to the neighborhood where Martin Luther King Jr. was bornThe terracotta stone and glass building, designed by the architect Gensler, is meant to echo Old Fourth Ward landmarks, such as the former Sears warehouse on Ponce de Leon Avenue, and capture the vibe of cool urban projects including the headquarters for The Gap Inc. in San Francisco.

http://www.bizjournals.com/atlanta/galle...building-latest-coup-for-old-fourth.html

[robertjhajek]

Wow that needs to happen! Imagine if all of that shit on north ave was cleaned up and a streetcar was running on it.