ATLANTA | Development Thread V

[Pemgin]

In a June article in ABC, they quoted someone involved with the project saying that it has capital partners, and the AJC article from today says there's Israeli and American investor equity, so maybe they've got a good shot at getting it financed.

[RudyJK]

Originally Posted by arjay57

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

"The Cheroff Group was founded by Penelope Cheroff in 1996 as an Atlanta, full-service brokerage and consulting firm, specializing in local restaurant and retail real estate."

Oh, dear. Do professional people not employ editors any more?

[bryantm3]

edited; confused 1138's peachtree frontage with crescent street frontage.

[Ant131531]

Originally Posted by bryantm3

really like 98 14th street revision a lot better than the 1138 revision. i was at one of the earlier DRCs; we could have had this: three levels of retail fronting peachtree (one underground) topped by apartments with a really cool design that evoked 60s mod architecture:

now we've got only one level of retail topped by a huge blank wall facing peachtree with some pretty prison-esque decorative cladding. top that off with the awful yellow, and this goes from the project i was most excited about to a project i hope doesn't make it this cycle.

I'm pretty sure that's the Crescent street side because you can see their SLS hotel project across the street. We have no idea what the Peachtree side looks like.

[Hokiehaven]

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

Yeah, owning one of these other buildings that just went up or finishing up, Museum Place or Peachtree and 5th, they are nice, but this offers a completely different option and likely value compared to those, including the amenities.

I think there is a market for it, I know a few couples that are considering buying in Midtown, but aren't enamored with the newest options for one reason or another. Depending on how big the 700,000's are, square footage, there seems like a chance, but 300 of them, seems like a little stretch.

Oh if ATL can do it though, got to think more investors around the world would raise a serious eyebrow on the ability of ATL and Midtown in particular.

[alco89]

Originally Posted by bryantm3

now we've got only one level of retail topped by a huge blank wall facing peachtree with some pretty prison-esque decorative cladding. top that off with the awful yellow, and this goes from the project i was most excited about to a project i hope doesn't make it this cycle.

Originally Posted by Ant131531

I'm pretty sure that's the Crescent street side because you can see their SLS hotel project across the street. We have no idea what the Peachtree side looks like.

Right Ant. We can't tell yet if it's better or worse on the Peachtree side.

[bryantm3]

Originally Posted by Ant131531

I'm pretty sure that's the Crescent street side because you can see their SLS hotel project across the street. We have no idea what the Peachtree side looks like.

sorry, should have looked closer. i was going to say, this looks like a side street frontage.

[arctk2014]

Originally Posted by alco89

Right Ant. We can't tell yet if it's better or worse on the Peachtree side.

Meh....You can still kinda get the idea from this image someone posted earlier.

[AtlantaMustang]

Originally Posted by arctk2014

Meh....You can still kinda get the idea from this image someone posted earlier.

Keep in mind that the elevation and plan on the left (on the screen) are the Crescent street side with the parking podium and a small amount of retail.

This is horrible quality, but shows both the SLS project and 1138 on one ground level plan (ignore all the pictures around the plans, the developer was showing design concepts around the plans):



Note that retail is shown in pink, so in 1138 on the ground level there's a small space on Crescent and 2 larger spaces fronting Peachtree.

[GeorgiaPeanuts]

Another global FinTech US HQ coming to Atlanta: http://www.bizjournals.com/atlanta/news/...locates-u-s-headquarters-to-atlanta.html

The serve some big clients: Starbucks, Red Lobster, Subway, A&F, Dominoes, ExxonMobil, etc.

They are expecting lots of growth in the US market. No mention of where they will put the HQ, but I'd assume either Midtown, Buckhead, or Perimeter.

[Atlanta3000]

Speaking of the Strength of Buckhead - Another Development Breaks Ground this Week

Construction fencing going up in front of LA Fitness

[arctk2014]

[QUOTE=Atlanta3000;7503507] Speaking of the Strength of Buckhead - Another Development Breaks Ground this Week

Construction fencing going up in front of LA Fitness


It's just for the hotel and possibly phasing in the parking structure as well but the apartments/retail shown on the right side aren't part of this phase.

[Atlanta3000]

[QUOTE=arctk2014;7503552]

Originally Posted by Atlanta3000

Speaking of the Strength of Buckhead - Another Development Breaks Ground this Week

Construction fencing going up in front of LA Fitness


It's just for the hotel and possibly phasing in the parking structure as well but the apartments/retail shown on the right side aren't part of this phase.

Unless plans have changed, the new hotel is flagged to be a Hampton Inn & Suites. Currently there is already a Hampton Inn to the right of Disco Kroger.

Why in the world does Buckhead need two Hampton Inn's this close together? Not to mention they both look like shit.

[testarossa50]

Originally Posted by arctk2014

Unless plans have changed, the new hotel is flagged to be a Hampton Inn & Suites. Currently there is already a Hampton Inn to the right of Disco Kroger.

Why in the world does Buckhead need two Hampton Inn's this close together? Not to mention they both look like shit.

9 times out of 10 when a second hotel is proposed in close proximity to an existing one of the same brand it means the old one is about to be de-branded. The best case scenario is that the hotel is renovated (into something like an Aloft, for instance). The worse scenario is that it drops down a peg and becomes a lower-status property, such as a Sleep Inn or something like that.

Also, I don't see why the new one would be getting hated on in particular. Looks better than the typical Hampton Inn, by far.

[skyscraper_inspector]

Originally Posted by testarossa50

9 times out of 10 when a second hotel is proposed in close proximity to an existing one of the same brand it means the old one is about to be de-branded. The best case scenario is that the hotel is renovated (into something like an Aloft, for instance). The worse scenario is that it drops down a peg and becomes a lower-status property, such as a Sleep Inn or something like that.

Also, I don't see why the new one would be getting hated on in particular. Looks better than the typical Hampton Inn, by far.

It appears the existing one has filed plans for exterior alterations today:

https://aca.accela.com/atlanta_ga/Cap/Ca...00000&capID3=00CL1&agencyCode=ATLANTA_GA

[joecool]

Fences were put up today (maybe yesterday) at the P'tree and 3rd site. Groundbreaking? 😁🙌🏼😁🙌🏼😁🙌🏼

[TarHeelJ]

Originally Posted by joecool

Fences were put up today (maybe yesterday) at the P'tree and 3rd site. Groundbreaking? 😁🙌🏼😁🙌🏼😁🙌🏼

Please god...I really want to see this one get started.

[Street Advocate]

Originally Posted by TarHeelJ

Please god...I really want to see this one get started.

This one has seemed a safe bet, per all the public discussion between the developer and the public recently.

[TarHeelJ]

Originally Posted by Street Advocate

This one has seemed a safe bet, per all the public discussion between the developer and the public recently.

I was thinking so, but it seems to have taken a long time to get moving. Maybe I just like this tower more than the others.

[alco89]

Originally Posted by TarHeelJ

I was thinking so, but it seems to have taken a long time to get moving. Maybe I just like this tower more than the others.

Maybe. It's only been 10 months since they announced it, which isn't very long. A lot of these other project seem to take a year or two before starting.