ATLANTA | Development Thread V

[Atlanta3000]

Originally Posted by RocketSurgeon

What would you suggest they do, tear up the sidewalks and add more lanes?

I think we need more surface parking in Midtown.....just kiddin'

[RudyJK]

Originally Posted by RocketSurgeon

What would you suggest they do, tear up the sidewalks and add more lanes?

No that's not a good idea. I guess just keep building and making that $$$.

http://dogknobit.com/wp-content/uploads/2013/10/scarlet.jpg

[arctk2014]

Originally Posted by RudyJK

Haha...oh my sides!

The developers intend to address the traffic nightmare the same way the city does. They'll ignore it.

Developers are not the problem - it's the city planning (or lack thereof) that has been the problem. Fortunately we now have someone who's thinking long-term and embracing the growth in the city as a means to address "traffic" among other issues in our city/region by implementing the Atlanta City Design Project with Ryan Gravel.

[RudyJK]

Originally Posted by arctk2014

Developers are not the problem - it's the city planning (or lack thereof) that has been the problem. Fortunately we now have someone who's thinking long-term and embracing the growth in the city as a means to address "traffic" among other issues in our city/region by implementing the Atlanta City Design Project with Ryan Gravel.

Agreed - that's why I included the city in my comment. We'll see if there really is effective long-term planning happening. I hope so.

[Street Advocate]

Originally Posted by RudyJK

Agreed - that's why I included the city in my comment. We'll see if there really is effective long-term planning happening. I hope so.

High density development within walking distance to two heavy rail stations is some of the best things we could hope for to mitigate congestion.

[MdtwnATL]

I'm really not one of those that screams not to build because it'll bring too much traffic. However, Crescent Ave. just seems like a really odd place to build behemoth projects like these, especially with it being where SLS' main access point will be.

I kind of like the neighborhood vibe and charm that Crescent brings to Midtown, and I just assumed that we'd see smaller developments there to fit in with the little house-restaurants and such. Then I figured we'd see all the big developments pop up on surrounding blocks.

Oh well, maybe they've got a plan, and it'll all make sense one day. Still very beautiful buildings to be excited about!

[Atlanta3000]

AJC has new details on 98 14th Street

The second tower, a 68-story structure still early in the design concept, could include a luxury hotel and apartments, she said. The developers are in talks with high-end restaurants, a grocer and luxury spa and fitness center operators.

the total scale of the project is similar to the original three-tower design, though the retail portion has grown

OHM’s first tower is expected to include 180 high-end “extended stay” units — think apartments aimed at globetrotting executives in need of housing for a few months — and 380 condominiums priced from about $700,000 into the millions.

Roni Avraham, OHM director of development, said the firm has a mix of Israeli and American investor equity in place and is working to obtain financing. He said condo pre-sales could start early next year.

http://www.ajc.com/news/business/74-story-condo-tower-planned-in-midtown-atlanta/nrx2D/

[forj]

wow.. the second tower would be 68 stories!? haha i love this.. I hope its all fully funded and moves forward quickly. let it rise!

[jsvh]

Originally Posted by arctk2014

Developers are not the problem - it's the city planning (or lack thereof) that has been the problem. Fortunately we now have someone who's thinking long-term and embracing the growth in the city as a means to address "traffic" among other issues in our city/region by implementing the Atlanta City Design Project with Ryan Gravel.

Agreed. Decades pushing development towards low-density and further away has been terrible for the city and getting around. We need more high density projects like this.

[sbrptree]

Originally Posted by arctk2014

Developers are not the problem - it's the city planning (or lack thereof) that has been the problem. Fortunately we now have someone who's thinking long-term and embracing the growth in the city as a means to address "traffic" among other issues in our city/region by implementing the Atlanta City Design Project with Ryan Gravel.

With all due respect to Ryan (whom I know); the City has an adopted plan (Connect Atlanta) that will soon be updated and Midtown has there numerous plans as well. The only "traffic" solutions publicly and politically feasible for these massive developments are better management of access (internal and interconnected driveways, r&l turn lanes and sometimes medians etc... There are no other solutions for single-occupant vehicular traffic (and rest assured, it WILL get worse). This is what happens in a dense urban environment. Outside of access improvements, multi-modal improvements are the only solutions really on the table left that will ever see the light of day in the heart of Midtown (aka bike lanes, cycle tracks, wider sidewalks, and improved transit). The City is taking lanes AWAY not adding more (10th street, Ponce and soon Juniper and Piedmont). This is the future of Midtown - exactly how the residents are businesses within Midtown want it! The City and Midtown Alliance are carrying out these plans per the community's priorities. So if you don't want to deal with traffic, better buy a breeze card, city bike and/or walking shoes my friend.

[arctk2014]

Originally Posted by sbrptree

With all due respect to Ryan (whom I know); the City has an adopted plan (Connect Atlanta) that will soon be updated and Midtown has there numerous plans as well. The only "traffic" solutions publicly and politically feasible for these massive developments are better management of access (internal and interconnected driveways, r&l turn lanes and sometimes medians etc... There are no other solutions for single-occupant vehicular traffic (and rest assured, it WILL get worse). This is what happens in a dense urban environment. Outside of access improvements, multi-modal improvements are the only solutions really on the table left that will ever see the light of day in the heart of Midtown (aka bike lanes, cycle tracks, wider sidewalks, and improved transit). The City is taking lanes AWAY not adding more (10th street, Ponce and soon Juniper and Piedmont). This is the future of Midtown - exactly how the residents are businesses within Midtown want it! The City and Midtown Alliance are carrying out these plans per the community's priorities. So if you don't want to deal with traffic, better buy a breeze card, city bike and/or walking shoes my friend.

Basically widening roads has only proven to induce more traffic/congestion. So provide better alternatives for mobility....now if we could work more on affordability.

[megalopolis]

Originally Posted by Libertarian

I believe 12th St. was recently converted to 2-way and should help a little to relieve the congestion on 14th.

You're correct, except if you're headed west on 12th, I don't believe that you can go straight at West Peachtree all the way to Williams, as the street does a zig zag there. You'd have to turn left briefly onto one-way West Peachtree in order to do that. This could be fixable though, before that corner is developed.

[RocketSurgeon]

Originally Posted by Atlanta3000

$700,000 into the millions.

There's my answer on price... that's a lot of top-end inventory. It will put Midtown on a whole new level if it's built, but if not the proposal alone says a lot.

[Ant131531]

That's about what I expected as far as condo prices. I mean, if One Museum Place and Seventh can sell condos for 800k+ a piece, but why couldn't this tower? I think they can sell 60-70% before it's completed. It's not like there's any other huge condo projects U/C in the area apart from a few boutique projects...but I guess finding 300 buyers who can afford an average of 1 million dollars for a condo does sound easier than it really is.

[GeorgiaPeanuts]

Yoo on the park crane is coming down

[Street Advocate]

Originally Posted by GeorgiaPeanuts

Yoo on the park crane is coming down

Hopefully just in time for Hanover Midtown, 880 West Peachtree, GT HPC, 1280 Spring, and 5th & Juniper cranes to go up! As much a I give student housing a hard time, I'd like to to see the development south of Tech Square rise up as well. We're not Chicago who has miles of density across the city for blocks and blocks, but we are creating a pretty solid urban environment, especially for a southern city.

[RocketSurgeon]

Originally Posted by Ant131531

I guess finding 300 buyers who can afford an average of 1 million dollars for a condo does sound easier than it really is.

Right, the range is proven, but the scale is unprecedented... this would just about quadruple the area's high-end inventory. That's a lot of risk.

Edit: I'm not pessimistic, I just don't think it's a sure thing yet. Also, I'm glad I don't own one of the existing ones with that much new supply looming

[kamden99]

Originally Posted by RocketSurgeon

Right, the range is proven, but the scale is unprecedented... this would just about quadruple the area's high-end inventory. That's a lot of risk.

Edit: I'm not pessimistic, I just don't think it's a sure thing yet. Also, I'm glad I don't own one of the existing ones with that much new supply looming

With all the corporate relocations and new high-tech jobs coming to Midtown or with direct MARTA access (NCR, Mercedes-Benz, Worldpay, Equifax, State Farm, etc.) there will be a lot of new residents with 6-figure plus salaries that can afford this exact price point... Consider people relocating from New York/New Jersey and California. $700K condos are quite common in those markets. Midtown Atlanta is definitely reaching a new level. And I definitely think the demand will be there when these projects deliver!

[Ant131531]

Honestly, they seemed confident it would get started, but once I read they didn't have the financing, I set back expectations big time especially for a 2016 groundbreaking.

We do have to remind ourselves that there's a reason why you don't see residential towers this tall in many cities around the world even in some of the most prominent ones.

If this does get built and it gets good sales, it tells us the Atlanta market has evolved to the next level.

[arjay57]

Originally Posted by arctk2014

Was it the whitish blonde-haired committee member? She does restaurant leasing ....

http://www.cheroffgroup.com/#!about/c24vq