Atlanta Project Thread IV - Page 71

atlantaguy · #**1401** Posted **May 17, 2014, 4:11 AM**

State Farm has around 5,000 employees here. When the new ops center is completed, they expect a little over 8,000. They already lease a ton of space around Perimeter Center.

smArTaLlone · #**1402** Posted **May 18, 2014, 12:28 PM**

Quote:

Originally Posted by simms3_redux

There are SOOO many proposals in Atlanta. I hope at least 1/3 of them come to fruition. Is State Farm bringing a lot of jobs for young professionals to the area? What is fueling the Midtown apartment boom? I know PCM office is practically leased up and that is easily a fuel for the Beltline apartment boom, but how is office vacancy in Midtown and Downtown?

To put it simply, what's driving Midtown's apartment boom is demand. I don't know the office vacancy rates but I think its largely irrelevant. Probably more than ever, young professionals and those entering the job market want to be intown with Midtown being ground zero. And even if they don't work in Midtown, its a convenient commute to most of the major job markets in the metro. That's not to say the millennials are the only ones moving into these buildings but they are driving the market.

We are still addressing pent up demand from the depression years when virtually nothing was built. Historically, the entire metro is building new housing units at a rate comparable to the early 90's although that number will certainly increase this year. Whats different is that a higher percentage of those units are being built in the city than ever before.

smArTaLlone · #**1403** Posted **May 18, 2014, 1:06 PM**

Quote:

Originally Posted by simms3_redux

My main concerns for this proposal are the materials. It actually doesn't look terrible in these renderings, but I think we can all imagine that it will turn out to be very very cheap looking. I think we can all expect that garage to be quite hideous as a final product.

Someone remind me, the Novare Twelve Midtown proposal was for the site across West Peachtree from this one, right?

Terminus posted that they are required to use quality materials and that has probably driven the design of the project. You can also look at The Atlantic as an example of a Novare project with quality materials.

Yes. Twelve was going where Related is now planning a project.

arjay57 · #**1404** Posted **May 18, 2014, 4:38 PM**

Quote:

Originally Posted by smArTaLlone

To put it simply, what's driving Midtown's apartment boom is demand. I don't know the office vacancy rates but I think its largely irrelevant.

Another big driver is the fact that apartments are where the financing has been available in the last few years. Not to oversimplify, but typically developers are going to build what they can get money for.

I agree that office vacancy rates aren't that critical to apartment building. Many people are choosing to live intown even though their jobs may be elsewhere.

RocketSurgeon · #**1405** Posted **May 19, 2014, 12:44 AM**

I just went for a walk and noticed a pretty substantial construction fence has been erected around the Norfolk Southern building (1200 Peachtree). I'm not sure what's going on. Sidewalk enhancements? Art installation? Retail build-out? (Probably not that last one, but one can hope

)

WFTGATL · #**1406** Posted **May 20, 2014, 3:01 PM**

On my walk to work today I walked by 811 Peachtree and noticed the parking lot was taped off and a crew and backhoe were there. Is this project starting?

smArTaLlone · #**1407** Posted **May 20, 2014, 5:14 PM**

Quote:

Originally Posted by WFTGATL

On my walk to work today I walked by 811 Peachtree and noticed the parking lot was taped off and a crew and backhoe were there. Is this project starting?

It would be sweet if it is. Last I heard, they filed some permits for the project so I guess its possible.

joecool · #**1408** Posted **May 20, 2014, 6:15 PM**

Quote:

Originally Posted by smArTaLlone

It would be sweet if it is. Last I heard, they filed some permits for the project so I guess its possible.

OMG I hope so. This is my favorite proposal!!! I want to live here one day!

1lifealex · #**1409** Posted **May 20, 2014, 9:17 PM**

Ok guys I walked to the 811Peachtree site and asked one of the workers if he knew when construction would start and he said some time in August so looks like this one is a go

arjay57 · #**1410** Posted **May 20, 2014, 9:29 PM**

I know the Beltline comes right through there but I sort of hate to see those old townhouse apartments go.

Oh, well, progress, I guess.

Buckhead apartment project to include new park

atlantaguy · #**1411** Posted **May 21, 2014, 2:29 AM**

Quote:

Originally Posted by arjay57

I know the Beltline comes right through there but I sort of hate to see those old townhouse apartments go.

Oh, well, progress, I guess.

Buckhead apartment project to include new park

I agree, arjay. I felt the same way about the apartments along Lindbergh and where Town Brookhaven now is. All three complexes were solid, well built and affordable post WWII apartments. The beautiful old trees that were destroyed at Lindbergh & Brookhaven still make me sad.

But you're right, it's progress.

bryantm3 · #**1412** Posted **May 21, 2014, 3:21 AM**

Quote:

Originally Posted by arjay57

I know the Beltline comes right through there but I sort of hate to see those old townhouse apartments go.

Oh, well, progress, I guess.

Buckhead apartment project to include new park

from the rendering, it looks like several of those apartment buildings will remain. i hope so, because they look really nice compared to the put-up-job they're putting in place of some of the other ones.

smArTaLlone · #**1413** Posted **May 21, 2014, 4:55 PM**

Quote:

Originally Posted by 1lifealex

Ok guys I walked to the 811Peachtree site and asked one of the workers if he knew when construction would start and he said some time in August so looks like this one is a go

Awesome! Its a unique tower in a great location and I will be glad to see it rise.

I was just thinking about how many of these Midtown projects we might see move forward this year. A number of them are by experienced developers with strong track records that have done projects in multiple markets. I think all of them have a high probability of getting built. That's potentially a lot of cranes in Midtown at one time.

33 Peachtree Place
Amli Arts Center
Post Millenium
1163 West Peachtree
782 Peachtree
60 11th Street

RocketSurgeon · #**1414** Posted **May 21, 2014, 6:06 PM**

Quote:

Originally Posted by smArTaLlone

Awesome! Its a unique tower in a great location and I will be glad to see it rise.

I was just thinking about how many of these Midtown projects we might see move forward this year. A number of them are by experienced developers with strong track records that have done projects in multiple markets. I think all of them have a high probability of getting built. That's potentially a lot of cranes in Midtown at one time.

33 Peachtree Place
Amli Arts Center
Post Millenium
1163 West Peachtree
782 Peachtree
60 11th Street

They can't come soon enough. With demand as high as it is right now (new apartments are filling up super quick) I think it will be a long time before the supply catches up.

Does anyone have any insight into what's going on at the Norfolk Southern building?

OZ1970 · #**1415** Posted **May 21, 2014, 7:51 PM**

Good Afternoon Atlanta -
I am really excited about all the new development going on in Atlanta! I read all the the information you guys post on a daily basis and I hope all the new proposed projects become a reality - I've got my fingers crossed.
811 Peachtree looks very interesting - does anyone know what the actual height is supposed to be for 811 Peachtree???
Thank you in advance - everyone stay safe and have a great day!

foxmccleod · #**1416** Posted **May 21, 2014, 8:16 PM**

Quote:

Originally Posted by OZ1970

Good Afternoon Atlanta -
I am really excited about all the new development going on in Atlanta! I read all the the information you guys post on a daily basis and I hope all the new proposed projects become a reality - I've got my fingers crossed.
811 Peachtree looks very interesting - does anyone know what the actual height is supposed to be for 811 Peachtree???
Thank you in advance - everyone stay safe and have a great day!

About 385' - 10" from Peachtree street at the alley adjacent to 805 Peachtree.

AtlantaMustang · #**1417** Posted **May 21, 2014, 9:11 PM**

Quote:

Originally Posted by foxmccleod

About 385' - 10"

Ya know, about 385' - 10". Because that's not precise enough, haha.

smArTaLlone · #**1418** Posted **May 21, 2014, 10:09 PM**

• Video Link

Buck · #**1419** Posted **May 21, 2014, 11:24 PM**

Quote:

Originally Posted by AtlantaMustang

Ya know, about 385' - 10". Because that's not precise enough, haha.

Wow, that's 95 feet shorter than next-door Viewpoint, which has only one more floor than 811 Peachtree.

RocketSurgeon · #**1420** Posted **May 21, 2014, 11:39 PM**

Quote:

Originally Posted by Buck

Wow, that's 95 feet shorter than next-door Viewpoint, which has only one more floor than 811 Peachtree.

Yeah, I assumed they would be similar heights. Even if you subtract the crown that's a surprisingly big difference. Viewpoint has 10' ceilings so I guess 811 is only going to have 8-9' ones.