ATLANTA | Development Thread V

[GeorgiaPeanuts]

Originally Posted by Kenn

It looks like all the space in University House has been leased per the following:

http://www.mscretail.com/wp-content/uploads/2014/07/UH-Midtown-Brochure_Site-Plan11.pdf

Anyone have any Intel on the prospective tenants? Compare this to the multiple empty Viewpoint spaces which, remember, will soon include Starbucks and the 7th sales center. This poor stretch has been dysfunctional for years for no real reason. Witness the speed with which the adjoining Skyhouse has leased up.

Insomnia Cookie is the only one to file permits thus far. Amazing that a couple of days ago everything else was available

I notice in the faded area that the poor students in that building will only have two elevators for 706 people... It is pain enough with 320 units and 3 elevators in Skyhouse, I can't imagine the queuing for elevator that will be in that building.

I also looked up permits for the Square on Fifth and it is getting a Relevator Coffee http://www.revelatorcoffee.com/#home and something called The Garage (restaurant?)

[Atlanta3000]

Originally Posted by Canguy

Am hearing that the General Contractor forced to remove crane due to fact that they did not get air rights over Georgia Tech.

WT......"F"!?!?

Does this mean the development could be completely shelved? How could this go through the permitting process and nobody confirm MillCreek Residential did not have the appropriate air rights? What the hell air rights anyway?

[RocketSurgeon]

Originally Posted by GeorgiaPeanuts

I notice in the faded area that the poor students in that building will only have two elevators for 706 people... It is pain enough with 320 units and 3 elevators in Skyhouse, I can't imagine the queuing for elevator that will be in that building.

It has two wings, so maybe there are others..? Two seems odd for new construction, although I lived in a dorm with that many and it wasn't so bad... student schedules are more haphazard so you don't have the workday rushes you get in normal residences.

Speaking of Eviva retail, that project looks nowhere near starting... there haven't been any tree removal notices or any other signs of movement there. I doubt August is accurate. I still think there will be another DRC review.

[Libertarian]

I'm wondering if Eviva, Integral Group, is having something of a Wieland moment. Wieland Homes had financial difficulties and took on a Boston money partner, retaining title as general partner...but the fat times are gone. As well as Eviva, Integral is taking on the GM site. Eviva and the GM site are no small deals for a developer that heretofore builds public-private garden apartments. Like Wieland they may be needing a strategic partner - albeit for different reasons.

[RocketSurgeon]

I assume the redesign is just taking a long time. I was very surprised when someone said August. I think it will be much later than that with the amount of planning that needs to be done.

[bigstick]

Originally Posted by Atlanta3000

WT......"F"!?!?

Does this mean the development could be completely shelved? How could this go through the permitting process and nobody confirm MillCreek Residential did not have the appropriate air rights? What the hell air rights anyway?

Air rights in development[edit]
Some jurisdictions restrict vertical development, but may allow developmental rights associated with vertical size of buildings to be transferred to the surrounding buildings. Thus in a dense downtown area, each building in the area may have the right to thirty-five stories of airspace. The owners of an old building of only three stories high could make a great deal of money by selling their building and allowing a thirty-five story skyscraper to be built in its place. To avoid the loss of historically interesting buildings, the government may instead choose to permit developers to purchase the unused air rights of nearby land. In this case, a skyscraper developer may purchase the unused 32 stories of air rights from the owners of the historic building, allowing them to build a skyscraper to a total height of 35 + 32 = 67 stories. In November 2005, Christ Church in New York sold their vertical development rights for a record $430 per square foot. They made more than $30 million on the sale.

https://en.wikipedia.org/wiki/Air_rights

[Atlanta3000]

Originally Posted by bigstick

Air rights in development[edit]
Some jurisdictions restrict vertical development, but may allow developmental rights associated with vertical size of buildings to be transferred to the surrounding buildings. Thus in a dense downtown area, each building in the area may have the right to thirty-five stories of airspace. The owners of an old building of only three stories high could make a great deal of money by selling their building and allowing a thirty-five story skyscraper to be built in its place. To avoid the loss of historically interesting buildings, the government may instead choose to permit developers to purchase the unused air rights of nearby land. In this case, a skyscraper developer may purchase the unused 32 stories of air rights from the owners of the historic building, allowing them to build a skyscraper to a total height of 35 + 32 = 67 stories. In November 2005, Christ Church in New York sold their vertical development rights for a record $430 per square foot. They made more than $30 million on the sale.

https://en.wikipedia.org/wiki/Air_rights

Thanks for the research Bigstick!

Do air rights strike anyone else as another scheme bankers use to make money? Sure air rights in NYC may make sense, but this is Atlanta F'en Georgia. The only shadows cast on the street are from our damn magnolia trees, not Skyscrapers.

Can someone enlighten me as to why air rights make sense in Midtown because I cannot wrap my head around how this could even be an issue?

[ATLSkyPalaceOwner]

Originally Posted by RocketSurgeon

Speaking of Eviva retail, that project looks nowhere near starting... there haven't been any tree removal notices or any other signs of movement there. I doubt August is accurate. I still think there will be another DRC review.

I vaguely remember seeing tree removal signs on that site a LONG time ago. Perhaps they've already got the necessary tree removal permit?

[arctk2014]

Originally Posted by GeorgiaPeanuts

Insomnia Cookie is the only one to file permits thus far. Amazing that a couple of days ago everything else was available

I notice in the faded area that the poor students in that building will only have two elevators for 706 people... It is pain enough with 320 units and 3 elevators in Skyhouse, I can't imagine the queuing for elevator that will be in that building.

I also looked up permits for the Square on Fifth and it is getting a Relevator Coffee http://www.revelatorcoffee.com/#home and something called The Garage (restaurant?)

There are 2 more shaded in the pink area servicing the retail corridor and the parking deck. You wouldn't be allowed to have just 2 elevators with that kind of occupancy.

[mikeatl77]

Originally Posted by GeorgiaPeanuts

Insomnia Cookie is the only one to file permits thus far. Amazing that a couple of days ago everything else was available


I also looked up permits for the Square on Fifth and it is getting a Relevator Coffee http://www.revelatorcoffee.com/#home and something called The Garage (restaurant?)

Good finds. Looks like the restaurant location moved to a different space for University House.

See any permits for 33 Peachtree Place?

[GeorgiaPeanuts]

Originally Posted by ATLSkyPalaceOwner

I vaguely remember seeing tree removal signs on that site a LONG time ago. Perhaps they've already got the necessary tree removal permit?

Yep, I walk my dog in the pocket park there all the time and they already been through that process.

Also unless they have to do it all over again, their permit moved to ready to issue state around the same time they created new listings for the retail/office space. Could be coincidence, but maybe the redesign didn't affect anything that would require it to go through the process all over again.

[Verge]

Originally Posted by Atlanta3000

Thanks for the research Bigstick!

Do air rights strike anyone else as another scheme bankers use to make money? Sure air rights in NYC may make sense, but this is Atlanta F'en Georgia. The only shadows cast on the street are from our damn magnolia trees, not Skyscrapers.

Can someone enlighten me as to why air rights make sense in Midtown because I cannot wrap my head around how this could even be an issue?

Air rights are a valuable tool for preserving small scale historic properties in areas that are zoned for high-rises. The Mitchell house in Midtown sold its air rights to one of the developments on Piedmont Park allowing for a taller building there and generating revenue for preservation efforts. The Modera problem is likely NOT about air rights-- something that would have been caught in zoning, but about permission from adjacent land owners (Ga Tech) to have their tower crane swing over the landowners property. This is a liability and insurance issue and something that is usually worked out well before construction starts-- so actually removing a crane is quite odd--

[jnihiser]

GSU Law Building:


Solis @ Palisades:




33 Peachtree Place:

[Frankster87]

Originally Posted by Atlanta3000

Thanks for the research Bigstick!

Do air rights strike anyone else as another scheme bankers use to make money? Sure air rights in NYC may make sense, but this is Atlanta F'en Georgia. The only shadows cast on the street are from our damn magnolia trees, not Skyscrapers.

Can someone enlighten me as to why air rights make sense in Midtown because I cannot wrap my head around how this could even be an issue?

Personally sounds like BS to me. I don't like anything that restricts a developer from building as high as they want, in an urbanized area. I would think the scheme is more routed in corrupt politicians benefiting their friends...which are probably bankers so I guess we come full circle here lol

On the other hand, I guess they also need a way to incentivize the preservation of historic structures, and this is one way for the private sector to foot the bill.

Speaking of historic preservations, SAVE THE BELL!

[Frankster87]

Originally Posted by Verge

Air rights are a valuable tool for preserving small scale historic properties in areas that are zoned for high-rises. The Mitchell house in Midtown sold its air rights to one of the developments on Piedmont Park allowing for a taller building there and generating revenue for preservation efforts. The Modera problem is likely NOT about air rights-- something that would have been caught in zoning, but about permission from adjacent land owners (Ga Tech) to have their tower crane swing over the landowners property. This is a liability and insurance issue and something that is usually worked out well before construction starts-- so actually removing a crane is quite odd--

I'm confused as to which part of Ga Tech's property the crane would be swinging over. University House is a private development, the lot immediately to the south is a private development for NCR, and I don't think the buildings immediately to the North are Ga Tech buildings (I think they are mostly clubs, and an office building, but maybe I'm mistaken?). Is the crane long enough to hover over Tech's campus from across the connector?

[arctk2014]

Originally Posted by Frankster87

Personally sounds like BS to me. I don't like anything that restricts a developer from building as high as they want, in an urbanized area. I would think the scheme is more routed in corrupt politicians benefiting their friends...which are probably bankers so I guess we come full circle here lol

On the other hand, I guess they also need a way to incentivize the preservation of historic structures, and this is one way for the private sector to foot the bill.

Speaking of historic preservations, SAVE THE BELL!

There are often good reasons to restrict development heights - mostly to provide better urban design and unity with development densities nearby. You wouldn't want a Bank of America Tower plopped in the middle of a low-rise, urban residential neighborhood either.

[arjay57]

We were in Brookhaven the other day and I noticed that the Gables project at Oglethorpe is coming along. Lots of stone.

It should be attractive.

http://properties.gables.com/oglethorpe/?unit_id=997741

[bigstick]

Originally Posted by Verge

Air rights are a valuable tool for preserving small scale historic properties in areas that are zoned for high-rises. The Mitchell house in Midtown sold its air rights to one of the developments on Piedmont Park allowing for a taller building there and generating revenue for preservation efforts. The Modera problem is likely NOT about air rights-- something that would have been caught in zoning, but about permission from adjacent land owners (Ga Tech) to have their tower crane swing over the landowners property. This is a liability and insurance issue and something that is usually worked out well before construction starts-- so actually removing a crane is quite odd--

Does anyone know what is going to happen here??????

[Verge]

Originally Posted by bigstick

Does anyone know what is going to happen here??????

It really doesn't make any sense-- may be the rumors are wrong and there are other issues(?)

[Ant131531]

Maybe that's why Modera was never listed as under construction by the Midtown DRC?