Atlanta Project Thread IV - Page 86

RATBOYKEV · #**1701** Posted **Feb 9, 2015, 7:55 PM**

Quote:

Originally Posted by smArTaLlone

Its starting to look like it could be.

Square on 5th : Under Construction
University House : Under Construction
60 11th Street : Under Construction
33 Peachtree Place : Under Construction
782 Peachtree : Under Construction
Seventh Midtown : Under Construction
One Museum Place : Under Construction

Atlantic House : Q1 Construction start
Yoo on the Park : Groundbreaking Feb 18
Amli Arts Center : Filed permits 12/09/2014 ... Possible Construction - March
Post Millenium : Filed permits 1/12/2015 ... Possible Construction - April
Modera Midtown : Filed permits 1/22/2015 ... Possible Construction - April
Broadstone Terraces : Filed permits 1/29/2015 ... Possible Construction - May
1010 West Peachtree : Filed permits 1/30/2015... Possible Construction - May
Alta at the Park : Possible Construction - Summer

My updated Midtown chart.

smArTaLlone · #**1702** Posted **Feb 9, 2015, 8:32 PM**

Quote:

Originally Posted by RATBOYKEV

My updated Midtown chart.

Nice Chart!

I'm curious why you estimate the Amli and Post projects being completed in 2017-2018. I expect both to get under way this year.

RATBOYKEV · #**1703** Posted **Feb 9, 2015, 8:52 PM**

Quote:

Originally Posted by smArTaLlone

Nice Chart!

I'm curious why you estimate the Amli and Post projects being completed in 2017-2018. I expect both to get under way this year.

Amli - I estimated 20-24 Month construction time and given they haven't started, this could be 1st Q, 2017.

The Post project has that possible 15th st extension and things like that always can throw a huge wrench into the mix.

RATBOYKEV · #**1704** Posted **Feb 9, 2015, 8:56 PM**

My early attempt at the eastside neighborhoods

RocketSurgeon · #**1705** Posted **Feb 10, 2015, 3:56 AM**

Quote:

Originally Posted by RATBOYKEV

Amli - I estimated 20-24 Month construction time and given they haven't started, this could be 1st Q, 2017.

The Post project has that possible 15th st extension and things like that always can throw a huge wrench into the mix.

AMLI is on 15th. The Post tower is farther south.

smArTaLlone · #**1706** Posted **Feb 10, 2015, 11:49 AM**

This site plan reveals a bit about the future plans for 12th & Midtown. The next phase will be across 12th street from 77 12th with only Lure and Front Page News remaining. Also it looks like they are planning some kind of retail build-out at back of the parking deck for those Peachtree Walk condos.

smArTaLlone · #**1707** Posted **Feb 10, 2015, 5:33 PM**

Trillist Communities officials have scheduled a groundbreaking ceremony next Wednesday for "YOO on the Park," a 25-story, 245-unit luxury apartment tower between Juniper Street and Piedmont Avenue.

http://atlanta.curbed.com/archives/2015/02/10/groundbreakings-4.php

smArTaLlone · #**1708** Posted **Feb 10, 2015, 11:05 PM**

The Business Chronicle reports that Yoo on the Park actually broke ground on Feb 9th but the ceremony will be next Wednesday.

http://www.bizjournals.com/atlanta/real_...t-leventhals-25-story-midtown-tower.html

RATBOYKEV · #**1709** Posted **Feb 11, 2015, 12:34 AM**

Quote:

Originally Posted by smArTaLlone

The Business Chronicle reports that Yoo on the Park actually broke ground on Feb 9th but the ceremony will be next Wednesday.

http://www.bizjournals.com/atlanta/real_...t-leventhals-25-story-midtown-tower.html

There was a single backhoe onsite this morning (2/10). There was a lot more equipment when they had started leveling earth back a few months ago. In order for me to consider this one under construction, I will need to see some concrete or steel onsite because they could stop work again.

smArTaLlone · #**1710** Posted **Feb 11, 2015, 5:16 PM**

http://www.bizjournals.com/atlanta/real_...nta-developer-olivermcmillan-speeds.html

Quote:

The redevelopment of the Buckhead Village shows no sign of slowing.
OliverMcMillan Inc., the San Diego developer behind the $1 billion Buckhead Atlanta mixed-use project, is plotting its next addition — a seven or eight story office building.

The building would rise on the site of HiFi Buys, which occupies a less than 1-acre but highly coveted parcel of land in the Buckhead Village that once sold for $16.5 million.

OliverMcMillan scooped up the HiFi Buys site a few years ago when it bought the stalled Streets of Buckhead project, revived it, renamed it Buckhead Atlanta, and turned several blocks in the Village into a mix of apartment towers, retailers such as Warby Parker and restaurants including Shake Shack and Le Bilboquet.

WFTGATL · #**1711** Posted **Feb 11, 2015, 5:28 PM**

I've noticed this week that a salvager is in the historic home at Juniper and 6th removing objects. Today there was a trailor with 10-12 mantels and a claw foot tub. The stained glass has also been removed. I think this signals a demo soon. Broadstone Terrace.

RocketSurgeon · #**1712** Posted **Feb 11, 2015, 6:35 PM**

Quote:

Originally Posted by RATBOYKEV

There was a single backhoe onsite this morning (2/10). There was a lot more equipment when they had started leveling earth back a few months ago. In order for me to consider this one under construction, I will need to see some concrete or steel onsite because they could stop work again.

Even that doesn't guarantee anything (see Streets of Buckhead), but the fact that the mayor is getting involved probably means it's been vetted.

RATBOYKEV · #**1713** Posted **Feb 11, 2015, 7:30 PM**

Quote:

Originally Posted by RocketSurgeon

Even that doesn't guarantee anything (see Streets of Buckhead), but the fact that the mayor is getting involved probably means it's been vetted.

Related to The Mayor's presence, I seem to recall that this building has property tax abatements from Invest Atlanta in return for designating some of the units (I think it was 5-10%) as affordable housing.

Hopefully this isn't too off-topic, but this is a great opportunity to have intown mixed-income communities as opposed to the open sore that is Boulevard.

I believe both Skyhouse Midtown and Skyhouse South both have this deal with each building having 16 apartments reserved for affordable housing.

smArTaLlone · #**1714** Posted **Feb 11, 2015, 9:48 PM**

Quote:

Originally Posted by RATBOYKEV

Related to The Mayor's presence, I seem to recall that this building has property tax abatements from Invest Atlanta in return for designating some of the units (I think it was 5-10%) as affordable housing.

Hopefully this isn't too off-topic, but this is a great opportunity to have intown mixed-income communities as opposed to the open sore that is Boulevard.

I believe both Skyhouse Midtown and Skyhouse South both have this deal with each building having 16 apartments reserved for affordable housing.

Yes. The 13th street project got the tax abatement deal back before the recession. I prefer not the think about the fact that Novare got tax help and were still allowed to put up a parking deck as atrocious as the one at Skyhouse Midtown.

Atlanta3000 · #**1715** Posted **Feb 11, 2015, 10:06 PM**

Quote:

Originally Posted by smArTaLlone

Yes. The 13th street project got the tax abatement deal back before the recession. I prefer not the think about the fact that Novare got tax help and were still allowed to put up a parking deck as atrocious as the one at Skyhouse Midtown.

Yoo on the Park didn't just get tax abatements, it is being financed by Invest Atlanta to the tune of $60 Million. Complete BS to have a public entity finance a private developer's luxury apartment project.

http://atlanta.curbed.com/archives/2013/...r-launching-soon-financing-explained.php

smArTaLlone · #**1716** Posted **Feb 12, 2015, 12:10 AM**

Quote:

Originally Posted by Atlanta3000

Yoo on the Park didn't just get tax abatements, it is being financed by Invest Atlanta to the tune of $60 Million. Complete BS to have a public entity finance a private developer's luxury apartment project.

http://atlanta.curbed.com/archives/2013/...r-launching-soon-financing-explained.php

That Curbed article is not quite clear. As I understand the tax purchase deals, the $60 million (actually $70 million) refers to the total value of the project since the title to the project has to be transferred until the bonds are repaid. The tax breaks HELP finance the project but they aren't getting a $60 million check from Invest Atlanta.

Atlanta3000 · #**1717** Posted **Feb 12, 2015, 12:00 PM**

Quote:

Originally Posted by smArTaLlone

That Curbed article is not quite clear. As I understand the tax purchase deals, the $60 million (actually $70 million) refers to the total value of the project since the title to the project has to be transferred until the bonds are repaid. The tax breaks HELP finance the project but they aren't getting a $60 million check from Invest Atlanta.

I am 99% certain Invest Atlanta used this program to finance the complete project's cost.

http://www.investatlanta.com/development...s-loans-bonds/tax-exempt-bond-financing/

smArTaLlone · #**1718** Posted **Feb 12, 2015, 12:09 PM**

Quote:

Originally Posted by Atlanta3000

I am 99% certain Invest Atlanta used this program to finance the complete project's cost.

http://www.investatlanta.com/development...s-loans-bonds/tax-exempt-bond-financing/

That's just not how it works.
After rereading the article, it does point this out after making it sound as if Invest Atlanta is funding the entire project.

Quote:

The bonds aren't direct financing but "help make their balance sheet look better, which then allows them to use that attraction to attract more financing to the project," she said. The bond transaction should be completed in a week or two, she added; if the project never happens, the developer gets no benefits.

smArTaLlone · #**1719** Posted **Feb 12, 2015, 5:34 PM**

The renderings of the street level of 33 Peachtree Place looks pretty solid IMO.

West view

North View

jpk1292000 · #**1720** Posted **Feb 12, 2015, 6:37 PM**

Quote:

Originally Posted by smArTaLlone

The renderings of the street level of 33 Peachtree Place looks pretty solid IMO.

West view

North View

Looks good...