ATLANTA | Development Thread VI - Page 498

Hokiehaven · #**9941** Posted **Sep 17, 2018, 10:14 PM**

Quote:

Originally Posted by skyscraperpage17

Agreed.

And it could be much worse. In Detroit, the city council just killed plans for a 28-story addition and 250 permanent jobs to their Crowne Plaza that was fully financed and the developer was asking for *NO* tax incentives. And it was all over one bad Yelp review and the Council trying to force unionization on their workers.

I don't recall seeing this before, next to the Residence Inn on 11th St. there's a parking lot and there's a for sale sign up.

joecool · #**9942** Posted **Sep 18, 2018, 12:20 AM**

Quote:

Originally Posted by Orlando

I agree with some of the comments posted about the lack of height of the recent towers in midtown. This one breaks up that plateau, and it's designed by Pickard Chilton...two positives in my opinion.

What's the ETA on groundbreaking?

RocketSurgeon · #**9943** Posted **Sep 18, 2018, 3:14 AM**

Quote:

Originally Posted by joecool

What's the ETA on groundbreaking?

They've been saying this winter but I wonder if the third Portman tower moving ahead is going to put that one on ice for awhile.

I think someone reported on here awhile back that the businesses on that lot were shutting down. That is not the case, they're all still open.

Triptychtwo · #**9944** Posted **Sep 18, 2018, 12:59 PM**

Quote:

Originally Posted by RocketSurgeon

They've been saying this winter but I wonder if the third Portman tower moving ahead is going to put that one on ice for awhile.

I think someone reported on here awhile back that the businesses on that lot were shutting down. That is not the case, they're all still open.

They hoped to close on the properties this summer. It usually becomes public a week or two after they have closed. After that, they'll begin the permitting process which is anywhere from 6-9 months. I'd assume 2Q 19 is the earliest you'll see any movement on the site.

THWg · #**9945** Posted **Sep 18, 2018, 1:21 PM**

https://www.bizjournals.com/atlanta/...build-new.html

Quote:

Norfolk Southern is considering the possibility of consolidating its headquarters into a single location. Atlanta Business Chronicle has reported the city is vying to land the project, and the Gulch was a possible site. More recently, Midtown has emerged as the front-runner.

Atlanta3000, add this to your list of reasons why you think HQ2 is coming to Atlanta. But I wonder which proposal in Midtown NS is aiming towards.

Triptychtwo · #**9946** Posted **Sep 18, 2018, 1:26 PM**

Quote:

Originally Posted by THWg

https://www.bizjournals.com/atlanta/...build-new.html

Atlanta3000, add this to your list of reasons why you think HQ2 is coming to Atlanta. But I wonder which proposal in Midtown NS is aiming towards.

I'd assume 1105 W. Peachtree (which is ready to go, just waiting for a signature) or 1125 Peachtree as they are right around the corner from their existing SE headquarters.

Verge · #**9947** Posted **Sep 18, 2018, 1:38 PM**

Quote:

Originally Posted by bigstick

Somewhat agree, but am getting disgusted on how things move here now. I love ATL, seems like some dynamics are lacking somewhere, then we have Dewberry...Countless projects on hold, dead, or cheap looking.

You have extremely unrealistic expectations-- The entitlement process in some (World) cities alone can take 5 years or more. Atlanta is still a developer's dream (for better or worse) in terms of approvals. I wholly support the CIM development-- but if they are going to ask for substantial city help, the city needs to understand all risks and negotiate some tangible benefits beyond the development itself.

bigstick · #**9948** Posted **Sep 18, 2018, 1:41 PM**

Quote:

Originally Posted by joecool

What's the ETA on groundbreaking?

2040

jaxoncreed · #**9949** Posted **Sep 18, 2018, 2:53 PM**

There are apparently rumors of NCR purchasing the Cheetah lot for a headquarters expansion. It would make sense as they're currently on flex space where employees only work in the office 3 days a week and swap desks when they're not there. So, another tower would allow them to fit everyone. Nothing official though

GeorgiaPeanuts · #**9950** Posted **Sep 18, 2018, 3:09 PM**

Quote:

Originally Posted by jaxoncreed

There are apparently rumors of NCR purchasing the Cheetah lot for a headquarters expansion. It would make sense as they're currently on flex space where employees only work in the office 3 days a week and swap desks when they're not there. So, another tower would allow them to fit everyone. Nothing official though

They are about to open a 2nd building

briantech · #**9951** Posted **Sep 18, 2018, 3:15 PM**

Geesh why didn't they just build a taller tower in the first place

Triptychtwo · #**9952** Posted **Sep 18, 2018, 3:46 PM**

Is 712 W. Peachtree getting Starbucks HQ?

Per the Invest Atlanta specification linked above...

Quote:

Approximately $151 million of investment in Midtown Atlanta
• Developer anticipates potential tenants for the building will create 2,333
permanent jobs
• The project will support an active attraction project that will generate 500
jobs to the city
• Economic impact of $228.2 million*
• The project will create additional office space in Midtown Atlanta, a
market with high demand among technology and startup companies

The only relocation I remember for 500 jobs is the Starbucks HQ....any thoughts?

Starbucks brews up 500 jobs for metro Atlanta with new operations hub

Street Advocate · #**9953** Posted **Sep 18, 2018, 3:58 PM**

Quote:

Originally Posted by Triptychtwo

Is 712 W. Peachtree getting Starbucks HQ?

Per the Invest Atlanta specification linked above...

The only relocation I remember for 500 jobs is the Starbucks HQ....any thoughts?

Starbucks brews up 500 jobs for metro Atlanta with new operations hub

I was pondering the same thing earlier.

Midtown restaurant scene really needs to up its game to support the influx of residences and jobs that will be around in a couple years.

tinyslam · #**9954** Posted **Sep 18, 2018, 4:04 PM**

Quote:

Originally Posted by jaxoncreed

There are apparently rumors of NCR purchasing the Cheetah lot for a headquarters expansion. It would make sense as they're currently on flex space where employees only work in the office 3 days a week and swap desks when they're not there. So, another tower would allow them to fit everyone. Nothing official though

My first thought is doubt, as NCR built 2 buildings and the initial plans were to entirely fill the first one and use about half the 2nd one while leasing the other half of tower 2 out to someone else. If they need more room wouldn't they just use up the rest of tower 2? Unless they are doing that and still need more room, but that brings the question of wouldn't they have known how much room they needed when they designed the new HQ? Did they expand that much over the past year or two?

Atlanta3000 · #**9955** Posted **Sep 18, 2018, 4:48 PM**

Quote:

Originally Posted by Triptychtwo

Is 712 W. Peachtree getting Starbucks HQ?

Per the Invest Atlanta specification linked above...

The only relocation I remember for 500 jobs is the Starbucks HQ....any thoughts?

Starbucks brews up 500 jobs for metro Atlanta with new operations hub

That's weird I downloaded this document over the weekend and it said 600 jobs. I even emailed it to the writer at Bisnow. See screenshot below.

Definitely not Starbucks because I don't think they want to wait 3 years for an office to be built. If I was to guess, I think it is Anthem and they are moving they are HQ to Atlanta from Indianapolis. Why? The link below is also on Invest Atlanta's website and it is the legal Agreement that captures all of the T's & C's of the Agreement, as well as, incentives. Note, this is not your standard property tax abatement Agreement. This Agreement is saying Invest Atlanta is going to issue bonds to finance part of the project. Invest Atlanta would not finance $110 Million for just 500 jobs. They would however do it for a Fortune 29 company with over $90 Billion in revenue.

http://fortune.com/fortune500/anthem/
https://www.boarddocs.com/ga/investa...70814732_4.pdf

skyscraperpage17 · #**9956** Posted **Sep 18, 2018, 7:33 PM**

Starbucks never said they're opening a "HQ" in Atlanta.

Also, Anthem confirmed their HQ is staying put in Indianapolis...

https://www.google.com/amp/s/amp.ind.../amp/631894002

skyscraperpage17 · #**9957** Posted **Sep 18, 2018, 7:44 PM**

Quote:

Originally Posted by briantech

Geesh why didn't they just build a taller tower in the first place

Penny wise, pound foolish.

skyscraperpage17 · #**9958** Posted **Sep 18, 2018, 7:51 PM**

Quote:

Originally Posted by Verge

You have extremely unrealistic expectations-- The entitlement process in some (World) cities alone can take 5 years or more. Atlanta is still a developer's dream (for better or worse) in terms of approvals. I wholly support the CIM development-- but if they are going to ask for substantial city help, the city needs to understand all risks and negotiate some tangible benefits beyond the development itself.

Agreed.

Plus, I see it as a litmus test. If they take their ball and go home after having already sunk millions of dollars into the project because of a little more scrutiny, they meant us no good.

Triptychtwo · #**9959** Posted **Sep 18, 2018, 7:52 PM**

Quote:

Originally Posted by skyscraperpage17

Starbucks never said they're opening a "HQ" in Atlanta.

Goddamm semantics. Large Operations Center. HQ of Atlanta. The title of the article I posted had the "official name." Thanks so much for the 'correction' though.

Atlanta3000 · #**9960** Posted **Sep 18, 2018, 9:00 PM**

Quote:

Originally Posted by Triptychtwo

Goddamm semantics. Large Operations Center. HQ of Atlanta. The title of the article I posted had the "official name." Thanks so much for the 'correction' though.

Take a breath T-Bird. S-17 is all business so cut him some slack.