MIDTOWN | Colony Square Renovation | 220,000 SF retail
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This should have been done years ago.......
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This project is incredible, but my one fear is North American Properties said it will be developed in phases. Has anyone heard exactly how many phases and timeline?
The one thing Midtown has been lacking with respect to retail is scale (meaning multiple retail stores in close proximity to each other). We saw this at 12th & Midtown and more specifically with CB2. With retail you don't necessarily have to have a huge population within walking distance for it to be successful - you just need a lot of it to create a destination. Look at Avalon in Alpharetta. I have neighbors in Buckhead who drive up to Alpharetta for the same damn stores we have here in Buckhead. |
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1. Build out the retail on the 100 building and the streetscape from about Juniper around to the parking down ramp on Peachtree Street. 2. Build out the retail on the 400 building and remainder of streetscape up around 15th St. 3. Whenever they can get the 4-5 big retail tenants they are negotiating with to sign leases, they will begin on the retail portion behind the 100 and 400 buildings & taking the roof off to create the open-air plaza in the middle. 4. Build new retail out in the northern part of the site, with longer term plans to build a new tower on 15th Street. They have not decided whether the tower will be office, hotel, etc.. They said steps one and two above are technically in the same "phase" but they have to do them one at a time in order to minimize the impact on the existing restaurants operating currently in the buildings. |
Maybe it's because I haven't eaten lunch yet, but I'm starting to drool at all of the retail and restaurants coming to Midtown. Alta Midtown, Crescent revamping, the Canteen, Caraveca Market @ Trace Midtown, and Colony Square... seems like Midtown may be in store for an influx of better quality and unique restaurants. Here's hoping, at least.
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They are definitely seeking to bring some of the top local chefs and restaurateurs to Colony Square.
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It's notable that they have move beyond "interest" to negotiation with several potential tenants. |
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Thought I would share renderings of their first West Coast location. They are part of the massive $800 million reno of Westfield Century City: http://la.racked.com/2015/6/16/87863...ity-renovation |
DRC recap
Colony Square Renovation
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These renderings show the final phase - the new tower. This is also where the potential Apple store would be located.
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Colony Square To Temporarily Feature 12 Artists
Selected By Hambidge Creative
The 12 artists selected will move into their spaces immediately, and the installations will be open for public interaction from April 1 to June 3. http://patch.com/georgia/southcobb/s...tm_content=aol |
Colony Square overhaul is cleared for takeoff
https://atlanta.curbed.com/2017/5/2/...ed-for-takeoff
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I'm excited about this project. Particularly the new tower portion. Hopefully they do something noteworthy for that phase.
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A view of the current conditions http://i.imgsafe.org/8f3eaeaa0d.png |
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They are actually calling this Phase 1A to be immediately followed by Phase 1B. This is the construction schedule as I understand it.
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The little grassy corner on 14th street will be remade as "The Grove".
https://pbs.twimg.com/media/DEdZ59gWAAA7dxT.jpg |
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Blank Label, a custom men’s clothing store out of Boston, plans to open its first Atlanta store at Midtown’s Colony Square on July 17.
https://www.bizjournals.com/atlanta/...-breaking.html |
Invest Atlanta approves tax breaks for Colony Square remake
https://www.bizjournals.com/atlanta/...om-invest.html
Colony Square will receive $7.6 million in tax abatements over 10 years while the project will generate $29 million in taxes over the same period. The makeover will include a food hall, eight-screen movie theater, and a fitness center. In typical Mayor Reed fashion, he hints that there are other significant projects in the works nearby that he can't discuss while negotiations are ongoing. Quote:
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