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  #1  
Old Posted Jul 19, 2012, 5:27 AM
bryantm3 bryantm3 is offline
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any big skyscrapers in the works?

i know about the hotel going up on tenth, the apartment building(s?) going up on twelfth, the apartment going up on seventh and juniper, but are there any REALLY BIG projects in the works for midtown or downtown? you know, another BOA tower or peachtree plaza?
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Old Posted Jul 19, 2012, 8:56 PM
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Originally Posted by bryantm3 View Post
i know about the hotel going up on tenth, the apartment building(s?) going up on twelfth, the apartment going up on seventh and juniper, but are there any REALLY BIG projects in the works for midtown or downtown? you know, another BOA tower or peachtree plaza?
A project of that scale is highly unlikely at this time. The local economy is not great, office vacancy is still high and most office users that do require large chunks of space seem to choose the suburbs these days.

There is a downtown office building proposal called 285 Marietta that is targeted at high-tech and entertainment companies (like TNT) but at this point is just a proposal. The developers say that they have received a lot of interest in the retail space but the project will not move forward without being significantly pre-leased.

Of course there are standing proposals such as 12th and Midtown Phase 4 that could be built if by some miracle there was some company with a need for large amounts of office space.

285 Marietta





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Old Posted Jun 28, 2013, 9:43 PM
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I had absolutely no clue about 285 Marietta until just now, so is this thing still a proposal or is it scrapped?
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Old Posted Jun 28, 2013, 11:51 PM
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I had absolutely no clue about 285 Marietta until just now, so is this thing still a proposal or is it scrapped?
It is still a proposal and the developers are actively seeking enough office tenant commitments to move the project forward. This developer has very patiently developed around Centennial park so even if its not imminent, it could still happen in the mid-long term time frame.

Here's the website. http://timessquareatl.com/
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Old Posted Jun 28, 2013, 11:58 PM
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Originally Posted by smArTaLlone View Post
It is still a proposal and the developers are actively seeking enough office tenant commitments to move the project forward. This developer has very patiently developed around Centennial park so even if its not imminent, it could still happen in the mid-long term time frame.

Here's the website. http://timessquareatl.com/
Ahh, thank you very much!
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Old Posted Jan 28, 2014, 5:03 AM
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I have difficulty believing that Atlanta will see any major skyscrapers being built in the city proper for awhile. Certainly not an office skyscraper, the office vacancy rate is still way too high, along with the shadow space. Hotel occupancy is amongst the lowest in the country, so that is doubtful. There could be some residential or mixed-use towers built because of housing demands in the city center. Atlanta overbuilt, much like Dallas did in the 80's and now we're paying the price for the lack of downtown development. That is what I predict.
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  #7  
Old Posted Feb 11, 2014, 5:49 AM
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Well right now, we have 98 14st it will have 3 different towers with the highest of 60 stories. (60 story,57 story,39 story towers)
You also got 1138 Peachtree, Yes it's proposed again but as a 51 story tower.
You got 3 Alliance Center (Buckhead)
811 Peachtree 35 story and will top out around 400 ft.
Its a few more But this is a good 6 of them
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Old Posted Feb 11, 2014, 10:36 PM
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Old Posted Feb 12, 2014, 8:10 PM
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That will make our skyline more dense,hopefully they'll build tower C or B first. but I found out myself that the whole project itself will be completed. by 2020.But hopefully we will have more 50+ stories in the works instead of 30 stories we had atleast 30 of them in the pass 3-4 years

But hey BOA Needs love to
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Last edited by thebigATL; Feb 15, 2014 at 8:46 AM.
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Old Posted Feb 15, 2014, 8:46 AM
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Old Posted Feb 28, 2014, 3:06 PM
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98 14ST
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Old Posted Apr 23, 2014, 9:02 PM
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Are there anymore?
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Old Posted Apr 23, 2014, 10:35 PM
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Originally Posted by TexasRE View Post
Hotel occupancy is amongst the lowest in the country, so that is doubtful
snip

What's your source for this? Looks like Atlanta hotel occupancy is pretty strong everywhere I can see (http://www.hotelnewsresource.com/article77091.html, etc)
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Old Posted May 16, 2014, 1:20 PM
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snip

What's your source for this? Looks like Atlanta hotel occupancy is pretty strong everywhere I can see (http://www.hotelnewsresource.com/article77091.html, etc)
If you look deeper into the numbers, it shows just how poorly Atlanta was just the year prior & the REVpar is extremely low. Atlanta hotels have taken a beating for quite a number of years now. Atlanta attracts conventions because of it's a major transportation hub, easy access to the city, plus its convention facilities. But, with the recession & many cities building new convention hotels & expansion of their existing convention centers. Atlanta has far more competition, that in my opinion they took for granted. Atlanta had to give major incentives to attract conventions which was unheard of just a few years ago.

There are many publications that track hotel occupancy & rates. Also, each publication breaks down segments of the marketplace, like downtown, suburban, airport area & such. Downtown, Midtown & Buckhead simply have an oversupply of hotel rooms. It's extremely difficult to get financing for a hotel if occupancy & rates are too low (a 1-yr. bump isn't a long-term projection or sustainable). Numerous hotel development plans were cancelled just for that reason. Atlanta isn't alone, I'm not picking on Atlanta, it's just the way it is. Which is why I mentioned my hometown of Dallas experiencing much of the same thing. Both Atlanta & Dallas have had decades of boom, now that boom has caught up to us & we're suffering from overbuilding. Niche hotels can be built, not likely any large major hotels for quite sometime, there simply isn't financing for them, at least from banks. If a deep-pocketed developer wants to take the risk by putting up their own capital, then they take the risk, not banks. Financiers aren't putting up $300+ million to construct hotels there either.

I love seeing buildings go up like anybody else, but what has to happen is viability & sustainable. What I don't want to see happen anywhere are foreclosures. Before I retired from the commercial real estate business (I worked worldwide), I tried to sell major properties in Atlanta, I couldn't even get a nibble on some without huge discounts. The marketplace was just too unpredictable. I couldn't sell the 52-story Elm Place in downtown Dallas (my hometown) for $12 million to a wealthy financier who I sold a dozen properties to over the yrs., that is how cautious investors are now. So, it's not personal against Atlanta, I just want people to look objectively & honestly about development.
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Old Posted May 16, 2014, 3:54 PM
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Originally Posted by TexasRE View Post
If you look deeper into the numbers, it shows just how poorly Atlanta was just the year prior & the REVpar is extremely low. Atlanta hotels have taken a beating for quite a number of years now. Atlanta attracts conventions because of it's a major transportation hub, easy access to the city, plus its convention facilities. But, with the recession & many cities building new convention hotels & expansion of their existing convention centers. Atlanta has far more competition, that in my opinion they took for granted. Atlanta had to give major incentives to attract conventions which was unheard of just a few years ago.

There are many publications that track hotel occupancy & rates. Also, each publication breaks down segments of the marketplace, like downtown, suburban, airport area & such. Downtown, Midtown & Buckhead simply have an oversupply of hotel rooms. It's extremely difficult to get financing for a hotel if occupancy & rates are too low (a 1-yr. bump isn't a long-term projection or sustainable). Numerous hotel development plans were cancelled just for that reason. Atlanta isn't alone, I'm not picking on Atlanta, it's just the way it is. Which is why I mentioned my hometown of Dallas experiencing much of the same thing. Both Atlanta & Dallas have had decades of boom, now that boom has caught up to us & we're suffering from overbuilding. Niche hotels can be built, not likely any large major hotels for quite sometime, there simply isn't financing for them, at least from banks. If a deep-pocketed developer wants to take the risk by putting up their own capital, then they take the risk, not banks. Financiers aren't putting up $300+ million to construct hotels there either.

I love seeing buildings go up like anybody else, but what has to happen is viability & sustainable. What I don't want to see happen anywhere are foreclosures. Before I retired from the commercial real estate business (I worked worldwide), I tried to sell major properties in Atlanta, I couldn't even get a nibble on some without huge discounts. The marketplace was just too unpredictable. I couldn't sell the 52-story Elm Place in downtown Dallas (my hometown) for $12 million to a wealthy financier who I sold a dozen properties to over the yrs., that is how cautious investors are now. So, it's not personal against Atlanta, I just want people to look objectively & honestly about development.

You need to do a little more research. Atlanta is now in the top ten of tourism in the U.S. Dallas isn't even mentioned. Houston is tho. So good luck to you in Dallas.
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  #16  
Old Posted May 18, 2014, 4:14 AM
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TexasRE, I think you may be a bit behind in your assessment...it sounds a lot like 5 years ago. Just look at the recent and current developments and proposals and you'll see a different picture. Your doom and gloom predictions are just outdated and don't match up with the actual environment in Atlanta.
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  #17  
Old Posted May 18, 2014, 5:39 AM
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Further to the above I had a meeting today with an European real estate client who makes it to Atlanta about 3 times per year, owns real estate here, and stays about 3 or 4 days per trip. Asked what were his overall impressions at present, he indicated that in his opinion the city was quite vibrant and upbeat. This was good to hear, because he had previously opined several years ago that Atlanta was a "lazy city". I myself live in the burbs, but my impressions are the same of both inside and outside 285. The improvement in the streetscapes, cleanliness, and young people out walking and bicycling are very impressive to observe. I think soon the national media will start to take notice.
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Old Posted May 18, 2014, 6:15 PM
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TexasRE, I think you may be a bit behind in your assessment...it sounds a lot like 5 years ago. Just look at the recent and current developments and proposals and you'll see a different picture. Your doom and gloom predictions are just outdated and don't match up with the actual environment in Atlanta.
This.

Look at all of the construction over the past several years, new flags entering the market and massive reno's to several existing prime properties and the reality is very different.

And despite the expansion of convention centers everywhere, we remain a top five market and will continue to be so. The infrastructure (flights/rooms/size of the GWCC/MARTA connection) is extremely hard to beat. The top five are Atlanta, Chicago, Las Vegas, New Orleans & Orlando. I honestly don't see that changing.

Last edited by atlantaguy; May 18, 2014 at 6:29 PM.
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  #19  
Old Posted May 25, 2014, 10:29 PM
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ATL seems to be booming again.
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Old Posted May 26, 2014, 5:37 AM
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ATL seems to be booming again.
It really is, zigzag. And it's nice to see you back!
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