Atlantic Station Thread II

[Atlriser]

mayhem -- we do agree then now that we know a little more about each other. I think Atlanta is hitting its stride for residential development and it's not even 1 out in the top of the 1st to make my point using sports. The condo boom over the past 4 years has just allowed Atlanta to understand what is needed and to lay the foundation. Now condos are slowing and this year there are several large apt towers supposedly coming. The combination of renters with owners will push us to the middle of the 1st inning. Secondary retail will slowly come online as the base builds of residential people intown.

Terminus’ point about 1st floors of decks being built such that they can be adapted to other uses is exactly what I was trying to emphasize. I believe Novare probably looked at retail and probably has a whole budget built around the building assuming retail was along 16th, but it just didn’t project out correctly to make the project feasible today. Should buildings be developed and required for this adaptable use as part of the requirements? I’m not sure how I feel about that and would have to really sit and ponder, but my gut is yet again….maybe? Some streets just aren’t retail or for popular use I feel, but then others should be planned accordingly. I feel 16th is one that isn’t and never should be really IMO, but others will feel differently about 16th. The layout is not right, the lack of connection to midtown really is my major concern and how it is in essence a dividing line for the neighborhood I feel just lend this street to be one that’s not retail oriented and probably never should be considered for such usage. Even New York has tons of streets people transverse daily but the streets have no retail function on them whatsoever and were purposely planned as such.

We agree I just have a longer term feel that much of the secondary retail can’t occur til we have a more diverse and mixed residential base which should begin emerging as apartment towers come on line downtown/midtown/AS. I think the influx of students downtown because of GA State dorms is another key component missing now in that section too (I know not related to AS but needed mentioning). Furthermore, the city has an oversupply right now of such retail space overall and some of this oversupply needs to be absorbed before we seriously add this type of retail into the mix using the force of law/zoning/land use codes. The city needs to update zoning for sure. The mayor’s plan is to have this complete by 2008 I believe, but trust me we are going to see some real bickering as this process gets started this year around the city. We’re also probably going to see the ugly race issue brought out as rezoning and updating of zoning maps begins to occur, so if you aren’t from Atlanta be prepared for a lot of fun and A LOT of COMPROMISING in the city to get anything at all accomplished in this area of government the next few years whether right or wrong.

[RobMidtowner]

Originally Posted by Atlriser

[COLOR=black]The building is centered on Atlantic (Grand Entrance of building); however, I might be wrong but the building does extend to State and to 16th with its deck. The biggest problem here is the slope I feel. The deck is mainly hidden along 17th but in clear view on 16th.

Do you mean centered on Atlantic Drive? How can that be because Atlantic Drive going north ends at 16th and starts again at 17th? I wish we had a site plan for this project because that would settle this argument for good.

[Atlriser]

I'm sorry RobMidtowner -- yes the big entrance with the name of the building will face the center of Atlantic Drive where it deadends at 17th street. For the shots they showed during my appointment, if you are sitting at the red light to make a left or right turn on 17th Street, your head lights would be shining in the front doors of the building at the front desk....

Now that I typed that thought, I never had considered about how that's kinda annoying before to walk out the doors or be sitting in the lobby with car lights glaring into it. I wonder if maybe that's changed now because I went way back during the first sales gala and then to a presale appoint when they first announced the project. That was definitely the streetscape shot I saw though while they were going through artist renderings and such.

[smArTaLlone]

Originally Posted by RobMidtowner

Do you mean centered on Atlantic Drive? How can that be because Atlantic Drive going north ends at 16th and starts again at 17th? I wish we had a site plan for this project because that would settle this argument for good.

Its not the site plan but if you click on "contact us" on the Atlantic website you can see the location of the building and also how huge that lot is.

the Atlantic

pic by Atlantaholic

[utguy9999]

So are they gonna build over the current parking ramp from 16th to the parking deck?

[GNofAtlanta]

An email from them:

Thank you for contacting me and thank you for your interest in ......

The Atlantic Residences at Atlantic Station.....the Ultimate luxury condominium residence in the premier mixed use community in the Southeast. Charm and choice are present everywhere in this Lifestyle of Live, Work & Play at Atlantic Station... all at your doorstep! There's an abundance of restaurants, shopping, cinema and things to do all year round!

Elegance identifies The Atlantic Residences with the sheer perfection of Art Deco design. I think you will be very impressed with this stately 46 story building soon to become the city of Atlanta's prized landmark!

* Luxury residences from $300,000's to $800,000's
Spectacular penthouses from $1,000,000+

* $20,000 developer incentive offered until January 31,2007

* 5% Earnest Money Deposit locks in 2007 pricing for 2009 closing

* Amenities...the clubroom is yours to enjoy. State-of-the-art fitness center, resort
style pool with poolside living room, billiards area, deluxe private theatre adjoins library,
and board room to host meetings. Be greeted by the doorman and pampered by the
concierge service.

You owe yourself the pleasure of owning a private residence at this address.

Finally, I would like to schedule a time to meet with you and discuss how I can help you secure
an investment for future living plans in Atlanta. I can be reached directly on 404.961.7118
between 10:30 a.m. to 6:00 p.m. daily/Saturday, Sunday, 1:00 to 6:00 p.m.

Regards,

Karla A. Cronin - Realtor
Novare Group - The Atlantic Sales Center
361 17th St, Suite A, Atlanta, GA 30363
Direct line: 404.961.7118
Cell: 404.783.2242

[cokezero]

Originally Posted by GNofAtlanta

* Luxury residences from $300,000's to $800,000's
Spectacular penthouses from $1,000,000+

* $20,000 developer incentive offered until January 31,2007

Novare Realty actually has a one-bedroom home at the Atlantic listed on FMLS right now for $307,000. If the developer incentive can be used toward the purchase price of the home, you may actually be able to get in there in the high $200,000s - a far cry from the mid-$400,000 entry level price point in Fall 2006.

[utguy9999]

Originally Posted by cokezero

Novare Realty actually has a one-bedroom home at the Atlantic listed on FMLS right now for $307,000. If the developer incentive can be used toward the purchase price of the home, you may actually be able to get in there in the high $200,000s - a far cry from the mid-$400,000 entry level price point in Fall 2006.

Good point. At the rate they're going, I'd rather wait for 2009 pricing, then "lock in 2007" prices

[RobMidtowner]

Originally Posted by cokezero

Novare Realty actually has a one-bedroom home at the Atlantic listed on FMLS right now for $307,000. If the developer incentive can be used toward the purchase price of the home, you may actually be able to get in there in the high $200,000s - a far cry from the mid-$400,000 entry level price point in Fall 2006.

I wonder how many people locked in before the prices came down? Sadly they would be paying the price for their eagerness.

[jobe]

Originally Posted by RobMidtowner

I wonder how many people locked in before the prices came down? Sadly they would be paying the price for their eagerness.

That's actually misleading - or, at least not the full story. The Atlantic has always offered about 40 homes that were priced in the $300's. However, they never publicized those homes because they didn't want the perception of the Atlantic in the marketplace to be on a similar level with Spire or Twelve or one of their other more moderately-priced homes. Hence, they positioned the homes from the $400's knowing that the homes in the $300's would sell well before the building delivered. So those that purchased before aren't losing any equity. It's just marketing spin.

So, to me, as someone that would consider buying at a home in the $300's at Twelve or one of the other more moderately-priced developments vs. the Atlantic, I'd purchase at the Atlantic because the finish level is much higher and the amenities are much nicer.

[sabino86]

Originally Posted by jobe

That's actually misleading - or, at least not the full story. The Atlantic has always offered about 40 homes that were priced in the $300's. However, they never publicized those homes because they didn't want the perception of the Atlantic in the marketplace to be on a similar level with Spire or Twelve or one of their other more moderately-priced homes. Hence, they positioned the homes from the $400's knowing that the homes in the $300's would sell well before the building delivered. So those that purchased before aren't losing any equity. It's just marketing spin.

So, to me, as someone that would consider buying at a home in the $300's at Twelve or one of the other more moderately-priced developments vs. the Atlantic, I'd purchase at the Atlantic because the finish level is much higher and the amenities are much nicer.

Sounds much closer to my price range.

[Broccoli]

Originally Posted by sabino86

Sounds much closer to my price range.

Mine too... I wish I'd have known that before I bought my place. I might have rented for a while and waited for the Atlantic to come online...

[SteveD]

I want to move to a high rise condo but I have an aggressive dog that wouldn't fare well in such an environment, so, I'll stay in my Grant Park house til he moves on to puppy heaven.

[SAV]

Why don't they just put a symphony center or some kind of concert hall in Atlantic Station

[GThomas]

Originally Posted by SAV

Why don't they just put a symphony center or some kind of concert hall in Atlantic Station

Because they're building one in Alpharetta. :p

http://www.accessatlanta.com/arts/co...reparkweb.html

[Sedaded]

Originally Posted by gttx

I'm not sure if anyone has seen it, but the entrance to Kingpin (or Ten Pin Alley or whatever it's called) has been put in and it looks amazing. It's right next to Dolce and is just a veranda with a big door under it, but the door is pretty awesome. I'll try to get a picture of it if I can.

My family and I ate at Dolce last night (which was great) and the general manager took us on a tour of Ten Pin Alley. The place is absolutely pimp! As someone has already said, the private bowling lanes/lounge area, which is mainly reserved for company parties and the likes, is the highlight. I'm really looking forward to going there (although I doubt I can afford the private room). According to the general manager, the four public lanes can accommodate up to six people and go for $55/hour.

It will have a limited opening on Jan 29 and then will open to the public two weeks later.

[Behind_Phips]

Are F'en kidding they are building a theater in Alpharetta? I donated money to the ASO last year because I want that building started. If they used it for Alpharedneck you will see my picture on the front page of the ACJ!!!!

[gttx]

Originally Posted by Behind_Phips

Are F'en kidding they are building a theater in Alpharetta? I donated money to the ASO last year because I want that building started. If they used it for Alpharedneck you will see my picture on the front page of the ACJ!!!!

I'm going to guess that they money they raised for the new symphony hall cannot go towards this project. I would bet that the city of Alpharetta is simply more on top of things that Atlanta and realized how much economic and social impact this could have. They are probably funding most of it, and I'd bet investors in Alpharetta will cover the rest.

[joey]

Originally Posted by GThomas

Because they're building one in Alpharetta. :p

http://www.accessatlanta.com/arts/co...reparkweb.html

I hope the facility is as gorgeous as Wolf Trap (mentioned in the article) -- I was really impressed the first time I went there.

[MarketsWork]

Originally Posted by Behind_Phips

Are F'en kidding they are building a theater in Alpharetta? I donated money to the ASO last year because I want that building started. If they used it for Alpharedneck you will see my picture on the front page of the ACJ!!!!

Alpharedneck? Alpharetta is one of Atlanta's finest communities. It is the center of Atlanta's "horse country" and enjoys one of the area's highest per capita incomes. Alpharetta's residents come from everywhere, and a good many of them could live comfortably anywhere they might choose -- and they chose Alpharetta. Alpharetta is anything but redneck.

Any bias aside, the ASO's investment in Alpharetta is simple economics. The ASO is building a state of the art amphitheatre in affluent North Fulton, where a good number of its patrons live, and where there is ready demand for its summer concerts and other events. And since the ASO will own the facility, this investment will produce a steady stream of badly needed income to bolster the ASO's other operations. This is not an Atlanta vs. Alpharetta issue; it is just a very smart move.