Work continues on Virginia-Highland’s mystery hole; builders mum
Work continues on Virginia-Highland’s mystery hole; builders mum
Work continues on Virginia-Highland’s mystery hole; builders mum
Josh Green
Thu, 11/07/2024 – 13:15
Construction continues on a controversial self-storage facility project at the doorstep of two marquee, walkable intown attractions, but exactly what it will entail and when it might arrive remain question marks.
The construction timeline is important to parts of Atlanta beyond the Monroe Drive site, and expansion plans for a nearby cultural institution depend on it.
Earlier this year, two low-rise commercial buildings were demolished at 1011 Monroe Drive and 597 Cooledge Ave. that had most recently housed Cantoni Furniture and Illuminations Lighting. The high-profile site is located at the cusp of Piedmont Park and the Atlanta Beltline’s popular Eastside Trail and new Northeast Trail section.
Public Storage, a national self-storage provider, is building a larger facility to replace those structures—a use that has drawn the ire of both neighborhood leaders and Beltline development arbiters. But the company hasn’t clarified exactly what it’s building, or when it plans to deliver.
Multiple inquiries to Public Storage officials regarding timelines and other aspects of the project have not been returned. Signage wrapping the site indicates Rycon Construction is building the project. An interview request to that company wasn’t returned either.
John Craft, Virginia-Highland Civic Association president, says he’s not seen or heard updates, but that progress on the self-storage project does seem slow.
“That tracks with anecdotes I’ve heard on several projects around the state,” Craft wrote in an email to Urbanize Atlanta. “I’ve seen a lot of out-of-state construction workers staying at hotels in Augusta and Savannah, and hear that there’s been more work than there are workers for the past couple of years.”
After breaking ground earlier this year, construction progress on the Public Storage project is shown here Oct. 27. Josh Green/Urbanize Atlanta
Construction at the site along Cooledge Avenue in May. Josh Green/Urbanize Atlanta
On the flipside of Piedmont Park, the Atlanta Botanical Garden’s $150-million expansion project hinges on the Public Storage facility project being finished and open.
The Garden’s 8-acre expansion will consume adjacent land where Public Storage has operated for years. In exchange, the Garden is swapping the Monroe Drive property, which it bought for $13.5 million last year, with Public Storage, so the company can maintain a presence in the area.
The Botanical Garden also bought Public Storage’s facility on Piedmont Avenue, immediately north of the current gardens, for a reported $40 million.
Botanical Garden officials hope to break ground on the expansion in late 2025, with completion sometime in 2027, but that’s all contingent on Public Storage relinquishing their current building on the expansion site.
Proximity of the Virginia-Highland project to another self-storage facility next door, at right. Josh Green/Urbanize Atlanta
Proximity of the Self Storage site (in red) to the Eastside Trail, Piedmont Park, and Extra Space Storage immediately to the south. Google Maps
Drawings shared by Public Storage representatives in early 2023 with the Atlanta Beltline Design Review Committee—following several design updates—could lend an idea what’s in store for the intown corner. According to those plans, the self-storage project would include office space (and bike racks) with a large, Botanical Garden-themed mural on one wall.
Building permit information indicates the self-storage facility will stand five stories. (A competing business, Extra Space Storage, has long operated another self-storage facility next door on the same block, along Kanuga Street.)
Public Storage/Atlanta BeltLine DRC
The lack of retail space or residential uses such as townhomes peeved Beltline DRC members last year. They criticized the project in the incarnation presented as “a missed opportunity” and “a use that does not belong on the BeltLine or anywhere near it.”
Jarrod Yates, Public Storage regional vice president of development, told Urbanize Atlanta in May his team was “working on something to help the community better understand the project.”
Nearly six months later, that something still hasn’t materialized.
…
Follow us on social media:
Twitter / Facebook/and now: Instagram
• Virginia-Highland news, discussion (Urbanize Atlanta)
Proximity of the Self Storage site (in red) to the Eastside Trail, Piedmont Park, and Extra Space Storage immediately to the south. Google Maps
After breaking ground earlier this year, construction progress on the Public Storage project is shown here Oct. 27. Josh Green/Urbanize Atlanta
Proximity of the Virginia-Highland project to another self-storage facility next door, at right. Josh Green/Urbanize Atlanta
Construction at the site along Cooledge Avenue in May. Josh Green/Urbanize Atlanta
Public Storage/Atlanta BeltLine DRC
State of previous buildings on site as of early 2023, with a competing self-storage facility visible next door. Google Maps
Work continues on Virginia-Highland’s mystery hole; builders mum
Josh Green
Thu, 11/07/2024 – 13:15
Construction continues on a controversial self-storage facility project at the doorstep of two marquee, walkable intown attractions, but exactly what it will entail and when it might arrive remain question marks.
The construction timeline is important to parts of Atlanta beyond the Monroe Drive site, and expansion plans for a nearby cultural institution depend on it.
Earlier this year, two low-rise commercial buildings were demolished at 1011 Monroe Drive and 597 Cooledge Ave. that had most recently housed Cantoni Furniture and Illuminations Lighting. The high-profile site is located at the cusp of Piedmont Park and the Atlanta Beltline’s popular Eastside Trail and new Northeast Trail section.
Public Storage, a national self-storage provider, is building a larger facility to replace those structures—a use that has drawn the ire of both neighborhood leaders and Beltline development arbiters. But the company hasn’t clarified exactly what it’s building, or when it plans to deliver.
Multiple inquiries to Public Storage officials regarding timelines and other aspects of the project have not been returned. Signage wrapping the site indicates Rycon Construction is building the project. An interview request to that company wasn’t returned either.
John Craft, Virginia-Highland Civic Association president, says he’s not seen or heard updates, but that progress on the self-storage project does seem slow.
“That tracks with anecdotes I’ve heard on several projects around the state,” Craft wrote in an email to Urbanize Atlanta. “I’ve seen a lot of out-of-state construction workers staying at hotels in Augusta and Savannah, and hear that there’s been more work than there are workers for the past couple of years.”
After breaking ground earlier this year, construction progress on the Public Storage project is shown here Oct. 27. Josh Green/Urbanize Atlanta
Construction at the site along Cooledge Avenue in May. Josh Green/Urbanize Atlanta
On the flipside of Piedmont Park, the Atlanta Botanical Garden’s $150-million expansion project hinges on the Public Storage facility project being finished and open.
The Garden’s 8-acre expansion will consume adjacent land where Public Storage has operated for years. In exchange, the Garden is swapping the Monroe Drive property, which it bought for $13.5 million last year, with Public Storage, so the company can maintain a presence in the area.
The Botanical Garden also bought Public Storage’s facility on Piedmont Avenue, immediately north of the current gardens, for a reported $40 million.
Botanical Garden officials hope to break ground on the expansion in late 2025, with completion sometime in 2027, but that’s all contingent on Public Storage relinquishing their current building on the expansion site.
Proximity of the Virginia-Highland project to another self-storage facility next door, at right. Josh Green/Urbanize Atlanta
Proximity of the Self Storage site (in red) to the Eastside Trail, Piedmont Park, and Extra Space Storage immediately to the south. Google Maps
Drawings shared by Public Storage representatives in early 2023 with the Atlanta Beltline Design Review Committee—following several design updates—could lend an idea what’s in store for the intown corner. According to those plans, the self-storage project would include office space (and bike racks) with a large, Botanical Garden-themed mural on one wall.
Building permit information indicates the self-storage facility will stand five stories. (A competing business, Extra Space Storage, has long operated another self-storage facility next door on the same block, along Kanuga Street.)
Public Storage/Atlanta BeltLine DRC
The lack of retail space or residential uses such as townhomes peeved Beltline DRC members last year. They criticized the project in the incarnation presented as “a missed opportunity” and “a use that does not belong on the BeltLine or anywhere near it.”
Jarrod Yates, Public Storage regional vice president of development, told Urbanize Atlanta in May his team was “working on something to help the community better understand the project.”
Nearly six months later, that something still hasn’t materialized.
…
Follow us on social media:
Twitter / Facebook/and now: Instagram
• Virginia-Highland news, discussion (Urbanize Atlanta)
Tags
1011 Monroe Drive
Public Storage
Atlanta Botanical Garden
Virginia-Highland Civic Association
Atlanta Construction
Atlanta Development
Self-Storage
Self-storage development
Self-storage facilities
Piedmont Park
Eastside Trail
Beltline
Atlanta BeltLine
Rycon Construction
Extra Space Storage
Images
Proximity of the Self Storage site (in red) to the Eastside Trail, Piedmont Park, and Extra Space Storage immediately to the south. Google Maps
After breaking ground earlier this year, construction progress on the Public Storage project is shown here Oct. 27. Josh Green/Urbanize Atlanta
Proximity of the Virginia-Highland project to another self-storage facility next door, at right. Josh Green/Urbanize Atlanta
Construction at the site along Cooledge Avenue in May. Josh Green/Urbanize Atlanta
Public Storage/Atlanta BeltLine DRC
State of previous buildings on site as of early 2023, with a competing self-storage facility visible next door. Google Maps
Subtitle
Neighborhood leadership in dark about self-storage facility plans near Piedmont Park, Beltline
Neighborhood
Virginia-Highland
Background Image
Image
Before/After Images
Sponsored Post
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Work continues on Virginia-Highland’s mystery hole; builders mum
Josh Green
Thu, 11/07/2024 – 13:15
Construction continues on a controversial self-storage facility project at the doorstep of two marquee, walkable intown attractions, but exactly what it will entail and when it might arrive remain question marks.
The construction timeline is important to parts of Atlanta beyond the Monroe Drive site, and expansion plans for a nearby cultural institution depend on it.
Earlier this year, two low-rise commercial buildings were demolished at 1011 Monroe Drive and 597 Cooledge Ave. that had most recently housed Cantoni Furniture and Illuminations Lighting. The high-profile site is located at the cusp of Piedmont Park and the Atlanta Beltline’s popular Eastside Trail and new Northeast Trail section.
Public Storage, a national self-storage provider, is building a larger facility to replace those structures—a use that has drawn the ire of both neighborhood leaders and Beltline development arbiters. But the company hasn’t clarified exactly what it’s building, or when it plans to deliver.
Multiple inquiries to Public Storage officials regarding timelines and other aspects of the project have not been returned. Signage wrapping the site indicates Rycon Construction is building the project. An interview request to that company wasn’t returned either.
John Craft, Virginia-Highland Civic Association president, says he’s not seen or heard updates, but that progress on the self-storage project does seem slow.
“That tracks with anecdotes I’ve heard on several projects around the state,” Craft wrote in an email to Urbanize Atlanta. “I’ve seen a lot of out-of-state construction workers staying at hotels in Augusta and Savannah, and hear that there’s been more work than there are workers for the past couple of years.”
After breaking ground earlier this year, construction progress on the Public Storage project is shown here Oct. 27. Josh Green/Urbanize Atlanta
Construction at the site along Cooledge Avenue in May. Josh Green/Urbanize Atlanta
On the flipside of Piedmont Park, the Atlanta Botanical Garden’s $150-million expansion project hinges on the Public Storage facility project being finished and open.
The Garden’s 8-acre expansion will consume adjacent land where Public Storage has operated for years. In exchange, the Garden is swapping the Monroe Drive property, which it bought for $13.5 million last year, with Public Storage, so the company can maintain a presence in the area.
The Botanical Garden also bought Public Storage’s facility on Piedmont Avenue, immediately north of the current gardens, for a reported $40 million.
Botanical Garden officials hope to break ground on the expansion in late 2025, with completion sometime in 2027, but that’s all contingent on Public Storage relinquishing their current building on the expansion site.
Proximity of the Virginia-Highland project to another self-storage facility next door, at right. Josh Green/Urbanize Atlanta
Proximity of the Self Storage site (in red) to the Eastside Trail, Piedmont Park, and Extra Space Storage immediately to the south. Google Maps
Drawings shared by Public Storage representatives in early 2023 with the Atlanta Beltline Design Review Committee—following several design updates—could lend an idea what’s in store for the intown corner. According to those plans, the self-storage project would include office space (and bike racks) with a large, Botanical Garden-themed mural on one wall.
Building permit information indicates the self-storage facility will stand five stories. (A competing business, Extra Space Storage, has long operated another self-storage facility next door on the same block, along Kanuga Street.)
Public Storage/Atlanta BeltLine DRC
The lack of retail space or residential uses such as townhomes peeved Beltline DRC members last year. They criticized the project in the incarnation presented as “a missed opportunity” and “a use that does not belong on the BeltLine or anywhere near it.”
Jarrod Yates, Public Storage regional vice president of development, told Urbanize Atlanta in May his team was “working on something to help the community better understand the project.”
Nearly six months later, that something still hasn’t materialized.
…
Follow us on social media:
Twitter / Facebook/and now: Instagram
• Virginia-Highland news, discussion (Urbanize Atlanta)
Tags
1011 Monroe Drive
Public Storage
Atlanta Botanical Garden
Virginia-Highland Civic Association
Atlanta Construction
Atlanta Development
Self-Storage
Self-storage development
Self-storage facilities
Piedmont Park
Eastside Trail
Beltline
Atlanta BeltLine
Rycon Construction
Extra Space Storage
Images
Proximity of the Self Storage site (in red) to the Eastside Trail, Piedmont Park, and Extra Space Storage immediately to the south. Google Maps
After breaking ground earlier this year, construction progress on the Public Storage project is shown here Oct. 27. Josh Green/Urbanize Atlanta
Proximity of the Virginia-Highland project to another self-storage facility next door, at right. Josh Green/Urbanize Atlanta
Construction at the site along Cooledge Avenue in May. Josh Green/Urbanize Atlanta
Public Storage/Atlanta BeltLine DRC
State of previous buildings on site as of early 2023, with a competing self-storage facility visible next door. Google Maps
Subtitle
Neighborhood leadership in dark about self-storage facility plans near Piedmont Park, Beltline
Neighborhood
Virginia-Highland
Background Image
Image
Before/After Images
Sponsored Post
Off
Toro secures financing for $560 million Johns Creek project
Toro secures financing for $560 million Johns Creek project
Financing has been lined up for a major mixed-use project aimed at providing the affluent north Fulton suburb with a town center.
Financing has been lined up for a major mixed-use project aimed at providing the affluent north Fulton suburb with a town center. Read MoreBizjournals.com Feed (2019-09-06 17:16:48)
Financing has been lined up for a major mixed-use project aimed at providing the affluent north Fulton suburb with a town center.
Toro secures financing for $560 million Johns Creek project
Toro secures financing for $560 million Johns Creek project
Financing has been lined up for a major mixed-use project aimed at providing the affluent north Fulton suburb with a town center.
Financing has been lined up for a major mixed-use project aimed at providing the affluent north Fulton suburb with a town center. Read MoreBizjournals.com Feed (2022-04-02 21:43:57)
Financing has been lined up for a major mixed-use project aimed at providing the affluent north Fulton suburb with a town center.
BizSpotlight: Revesco Properties Trust
BizSpotlight: Revesco Properties Trust
The acquisition of Roswell Village in Roswell, GA,
The acquisition of Roswell Village in Roswell, GA, Read MoreBizjournals.com Feed (2019-09-06 17:16:48)
The acquisition of Roswell Village in Roswell, GA,
BizSpotlight: Revesco Properties Trust
BizSpotlight: Revesco Properties Trust
The acquisition of Roswell Village in Roswell, GA,
The acquisition of Roswell Village in Roswell, GA, Read MoreBizjournals.com Feed (2022-04-02 21:43:57)
The acquisition of Roswell Village in Roswell, GA,
Bowling alley closures are piling up. Many are being forced to pick a lane.
Bowling alley closures are piling up. Many are being forced to pick a lane.
The industry is getting knocked down by several factors — and real estate development is a big part of the equation.
The industry is getting knocked down by several factors — and real estate development is a big part of the equation. Read MoreBizjournals.com Feed (2022-04-02 21:43:57)
The industry is getting knocked down by several factors — and real estate development is a big part of the equation.
Bowling alley closures are piling up. Many are being forced to pick a lane.
Bowling alley closures are piling up. Many are being forced to pick a lane.
The industry is getting knocked down by several factors — and real estate development is a big part of the equation.
The industry is getting knocked down by several factors — and real estate development is a big part of the equation. Read MoreBizjournals.com Feed (2019-09-06 17:16:48)
The industry is getting knocked down by several factors — and real estate development is a big part of the equation.
Historic Nashville Offices Up for Sale
Historic Nashville Offices Up for Sale
An office building built in 1904 between Nashville Yards and Lower Broadway is on the block. 810 Broadway, the 5-story 88,000-square-foot brick building has been revamped enough over the years to remain viable.
The asking price is $34 million. Crews Johnston, Charlie Gibson and George Mullowney are handling the sale for Cushman & Wakefield.
The Broadway building is recognizable by the red “Morgan & Morgan” sign on the outside. The law firm has long been the anchor tenant of the office building but will be relocating to a 19,500-square-foot space in One Nashville Place.
The seller’s agents suggest that a buyer could convert the building to an apartment, hotel or restaurant.
Nashville-based Magnolia Investment Partners owns the building. In 2021, the firm paid $16.5 million for the 0.4-acre site. The seller was an LBCW, which paid $11.36 million for the building in mid-2018. The building sold in 1982 for $665,000.
The post Historic Nashville Offices Up for Sale appeared first on Connect CRE.
An office building built in 1904 between Nashville Yards and Lower Broadway is on the block. 810 Broadway, the 5-story 88,000-square-foot brick building has been revamped enough over the years to remain viable. The asking price is $34 million. Crews Johnston, Charlie Gibson and George Mullowney are handling the sale for Cushman & Wakefield. The …
The post Historic Nashville Offices Up for Sale appeared first on Connect CRE. Read MoreAtlanta & Southeast Commercial Real Estate News
An office building built in 1904 between Nashville Yards and Lower Broadway is on the block. 810 Broadway, the 5-story 88,000-square-foot brick building has been revamped enough over the years to remain viable. The asking price is $34 million. Crews Johnston, Charlie Gibson and George Mullowney are handling the sale for Cushman & Wakefield. The …
The post Historic Nashville Offices Up for Sale appeared first on Connect CRE.
Town center project scores half-billion in financing, sets start date
Town center project scores half-billion in financing, sets start date
Town center project scores half-billion in financing, sets start date
Josh Green
Thu, 11/07/2024 – 08:12
Two and ½ years after it was announced, a mixed-use town center for Johns Creek is officially set to move forward, helmed by a development executive that helped lead Avalon’s ground-up creation from abandoned fields, Colony Square’s revival, and Atlantic Station’s family-friendly turnaround.
The Medley project by Toro Development Company has secured $560 million in financing despite the headwinds of tough capital markets as U.S. banks remain on the sidelines, according to its developers.
The financial backing sets the stage for Medley’s groundbreaking, now planned for an unspecified date next month.
Medley’s phase one funding includes a $158 million construction loan from Mexico City-based Banco Inbursa and an equity investment from Denver-based real estate private equity firm Ascentris. According to TDC officials, it represents a deal in which foreign lenders are filling a financing vacuum created by reticent stateside banks, and it proves that projects dominated by retail can still be attractive to investors.
TDC heads likened the commercial real estate industry’s last two post-pandemic years to a “nuclear winter” of high borrowing costs and other hurdles.
“Medley represents one of the best suburban real estate sites in the country, and it serves a community that is lacking a ‘third place’ to gather with others,” TDC chief Mark Toro said in a Wednesday announcement.
“Our plan will completely transform a struggling, commodity office park into a walkable, urban oasis for Johns Creek,” Toro continued. “This is the kind of project the investment community is excited to hear about.”
Projected look of Medley’s repurposed office building, next to a standalone restaurant and central plaza. Courtesy of Toro Development Company
In other recent Medley news, the Johns Creek City Council unanimously approved plans last month for a 175-key Medley hotel that TDC hopes will replicate the success of Avalon’s hospitality component.
That’s expected to be one pillar of the 43-acre venture TDC is developing at the corner of McGinnis Ferry Road and Johns Creek Parkway.
TDC’s phase-one construction timeline now calls for a grand opening in late 2026.
Medley’s initial phase, beyond the hotel, is set to include roughly 180,000 square feet for retail, restaurant, and entertainment spaces, a 25,000-square-foot plaza, and 100,000 square feet of offices.
Residential plans call for 133 townhomes and 340 apartments in phase one.
The 43-acre Medley will be the first new section of Johns Creek’s Town Center concept. Toro Development Company; designs, Nelson Worldwide
How the 175-key boutique hotel is expected to relate to a Medley greenspace and retail. Courtesy of Toro Development Company
An existing four-story office building on site is also being renovated and woven into the master plan for a workplace TDC officials have called “commute-worthy.”
On the food front, Medley’s phase one will include the first suburban locations of Fadó Irish Pub and Little Rey, a Mexican concept by chef and restaurateur Ford Fry. Other announced tenants include CRÚ Food & Wine Bar, 26 Thai Kitchen and Bar, Five Daughters Bakery, Summit Coffee, Lily Sushi Bar, Knuckies Hoagies, Cookie Fix, Sugarcoat Beauty, BODY20, and AYA Medical Spa, among other concepts.
Eventually, Medley is expected to create 900 residences deemed luxury-grade (all townhomes and apartments), another 20,000 square feet of retail, and an Avalon-style central greenspace designed for community events and gatherings.
Plans call for hosting 200 events per year, ranging from live music and outdoor wellness classes to art festivals and watch parties, officials have said.
Eventually, Medley is planned to become just one facet of Johns Creek’s 192-acre Town Center, a blend of housing, hotels, offices, lakes, and greenspace about the size of Piedmont Park.
Courtesy of Toro Development Company
TDC completed the $44-million purchase of land needed to build Medley in March. The company previously razed an outdated, 350,000-square-foot office building to prep the site for construction.
Find more context and project images in the gallery above.
…
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Twitter / Facebook/and now: Instagram
• Johns Creek news, discussion (Urbanize Atlanta)
Projected look of Medley’s repurposed office building, next to a standalone restaurant and central plaza. Courtesy of Toro Development Company
The 43-acre Medley will be the first new section of Johns Creek’s Town Center concept. Toro Development Company; designs, Nelson Worldwide
Courtesy of Toro Development Company
Courtesy of Toro Development Company
Toro Development Company; designs, Nelson Worldwide
How the 175-key boutique hotel is expected to relate to a Medley greenspace and retail. Courtesy of Toro Development Company
The Medley site’s location in Johns Creek, in relation to Atlanta’s north OTP cities. Google Maps
Part of the 43-acre property, as seen along Johns Creek Parkway, while still actively used by State Farm in 2017. Google Maps
Overview of the Medley site’s two mid-rise office buildings formerly occupied by State Farm Insurance Co. The building at bottom is being incorporated into the new project. Google Maps
Town center project scores half-billion in financing, sets start date
Josh Green
Thu, 11/07/2024 – 08:12
Two and ½ years after it was announced, a mixed-use town center for Johns Creek is officially set to move forward, helmed by a development executive that helped lead Avalon’s ground-up creation from abandoned fields, Colony Square’s revival, and Atlantic Station’s family-friendly turnaround.
The Medley project by Toro Development Company has secured $560 million in financing despite the headwinds of tough capital markets as U.S. banks remain on the sidelines, according to its developers.
The financial backing sets the stage for Medley’s groundbreaking, now planned for an unspecified date next month.
Medley’s phase one funding includes a $158 million construction loan from Mexico City-based Banco Inbursa and an equity investment from Denver-based real estate private equity firm Ascentris. According to TDC officials, it represents a deal in which foreign lenders are filling a financing vacuum created by reticent stateside banks, and it proves that projects dominated by retail can still be attractive to investors.
TDC heads likened the commercial real estate industry’s last two post-pandemic years to a “nuclear winter” of high borrowing costs and other hurdles.
“Medley represents one of the best suburban real estate sites in the country, and it serves a community that is lacking a ‘third place’ to gather with others,” TDC chief Mark Toro said in a Wednesday announcement.
“Our plan will completely transform a struggling, commodity office park into a walkable, urban oasis for Johns Creek,” Toro continued. “This is the kind of project the investment community is excited to hear about.”
Projected look of Medley’s repurposed office building, next to a standalone restaurant and central plaza. Courtesy of Toro Development Company
In other recent Medley news, the Johns Creek City Council unanimously approved plans last month for a 175-key Medley hotel that TDC hopes will replicate the success of Avalon’s hospitality component.
That’s expected to be one pillar of the 43-acre venture TDC is developing at the corner of McGinnis Ferry Road and Johns Creek Parkway.
TDC’s phase-one construction timeline now calls for a grand opening in late 2026.
Medley’s initial phase, beyond the hotel, is set to include roughly 180,000 square feet for retail, restaurant, and entertainment spaces, a 25,000-square-foot plaza, and 100,000 square feet of offices.
Residential plans call for 133 townhomes and 340 apartments in phase one.
The 43-acre Medley will be the first new section of Johns Creek’s Town Center concept. Toro Development Company; designs, Nelson Worldwide
How the 175-key boutique hotel is expected to relate to a Medley greenspace and retail. Courtesy of Toro Development Company
An existing four-story office building on site is also being renovated and woven into the master plan for a workplace TDC officials have called “commute-worthy.”
On the food front, Medley’s phase one will include the first suburban locations of Fadó Irish Pub and Little Rey, a Mexican concept by chef and restaurateur Ford Fry. Other announced tenants include CRÚ Food & Wine Bar, 26 Thai Kitchen and Bar, Five Daughters Bakery, Summit Coffee, Lily Sushi Bar, Knuckies Hoagies, Cookie Fix, Sugarcoat Beauty, BODY20, and AYA Medical Spa, among other concepts.
Eventually, Medley is expected to create 900 residences deemed luxury-grade (all townhomes and apartments), another 20,000 square feet of retail, and an Avalon-style central greenspace designed for community events and gatherings.
Plans call for hosting 200 events per year, ranging from live music and outdoor wellness classes to art festivals and watch parties, officials have said.
Eventually, Medley is planned to become just one facet of Johns Creek’s 192-acre Town Center, a blend of housing, hotels, offices, lakes, and greenspace about the size of Piedmont Park.
Courtesy of Toro Development Company
TDC completed the $44-million purchase of land needed to build Medley in March. The company previously razed an outdated, 350,000-square-foot office building to prep the site for construction.
Find more context and project images in the gallery above.
…
Follow us on social media:
Twitter / Facebook/and now: Instagram
• Johns Creek news, discussion (Urbanize Atlanta)
Tags
11650 Johns Creek Parkway
Medley
The Hotel at Medley
Town Center
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U.S. Realty Advisors
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Images
Projected look of Medley’s repurposed office building, next to a standalone restaurant and central plaza. Courtesy of Toro Development Company
The 43-acre Medley will be the first new section of Johns Creek’s Town Center concept. Toro Development Company; designs, Nelson Worldwide
Courtesy of Toro Development Company
Courtesy of Toro Development Company
Toro Development Company; designs, Nelson Worldwide
How the 175-key boutique hotel is expected to relate to a Medley greenspace and retail. Courtesy of Toro Development Company
The Medley site’s location in Johns Creek, in relation to Atlanta’s north OTP cities. Google Maps
Part of the 43-acre property, as seen along Johns Creek Parkway, while still actively used by State Farm in 2017. Google Maps
Overview of the Medley site’s two mid-rise office buildings formerly occupied by State Farm Insurance Co. The building at bottom is being incorporated into the new project. Google Maps
Subtitle
Developer: Mexico City bank helps fill vacuum to get Johns Creek’s Medley off the ground
Neighborhood
Johns Creek
Background Image
Image
Associated Project
Medley
Before/After Images
Sponsored Post
Off Read More
Town center project scores half-billion in financing, sets start date
Josh Green
Thu, 11/07/2024 – 08:12
Two and ½ years after it was announced, a mixed-use town center for Johns Creek is officially set to move forward, helmed by a development executive that helped lead Avalon’s ground-up creation from abandoned fields, Colony Square’s revival, and Atlantic Station’s family-friendly turnaround.
The Medley project by Toro Development Company has secured $560 million in financing despite the headwinds of tough capital markets as U.S. banks remain on the sidelines, according to its developers.
The financial backing sets the stage for Medley’s groundbreaking, now planned for an unspecified date next month.
Medley’s phase one funding includes a $158 million construction loan from Mexico City-based Banco Inbursa and an equity investment from Denver-based real estate private equity firm Ascentris. According to TDC officials, it represents a deal in which foreign lenders are filling a financing vacuum created by reticent stateside banks, and it proves that projects dominated by retail can still be attractive to investors.
TDC heads likened the commercial real estate industry’s last two post-pandemic years to a “nuclear winter” of high borrowing costs and other hurdles.
“Medley represents one of the best suburban real estate sites in the country, and it serves a community that is lacking a ‘third place’ to gather with others,” TDC chief Mark Toro said in a Wednesday announcement.
“Our plan will completely transform a struggling, commodity office park into a walkable, urban oasis for Johns Creek,” Toro continued. “This is the kind of project the investment community is excited to hear about.”
Projected look of Medley’s repurposed office building, next to a standalone restaurant and central plaza. Courtesy of Toro Development Company
In other recent Medley news, the Johns Creek City Council unanimously approved plans last month for a 175-key Medley hotel that TDC hopes will replicate the success of Avalon’s hospitality component.
That’s expected to be one pillar of the 43-acre venture TDC is developing at the corner of McGinnis Ferry Road and Johns Creek Parkway.
TDC’s phase-one construction timeline now calls for a grand opening in late 2026.
Medley’s initial phase, beyond the hotel, is set to include roughly 180,000 square feet for retail, restaurant, and entertainment spaces, a 25,000-square-foot plaza, and 100,000 square feet of offices.
Residential plans call for 133 townhomes and 340 apartments in phase one.
The 43-acre Medley will be the first new section of Johns Creek’s Town Center concept. Toro Development Company; designs, Nelson Worldwide
How the 175-key boutique hotel is expected to relate to a Medley greenspace and retail. Courtesy of Toro Development Company
An existing four-story office building on site is also being renovated and woven into the master plan for a workplace TDC officials have called “commute-worthy.”
On the food front, Medley’s phase one will include the first suburban locations of Fadó Irish Pub and Little Rey, a Mexican concept by chef and restaurateur Ford Fry. Other announced tenants include CRÚ Food & Wine Bar, 26 Thai Kitchen and Bar, Five Daughters Bakery, Summit Coffee, Lily Sushi Bar, Knuckies Hoagies, Cookie Fix, Sugarcoat Beauty, BODY20, and AYA Medical Spa, among other concepts.
Eventually, Medley is expected to create 900 residences deemed luxury-grade (all townhomes and apartments), another 20,000 square feet of retail, and an Avalon-style central greenspace designed for community events and gatherings.
Plans call for hosting 200 events per year, ranging from live music and outdoor wellness classes to art festivals and watch parties, officials have said.
Eventually, Medley is planned to become just one facet of Johns Creek’s 192-acre Town Center, a blend of housing, hotels, offices, lakes, and greenspace about the size of Piedmont Park.
Courtesy of Toro Development Company
TDC completed the $44-million purchase of land needed to build Medley in March. The company previously razed an outdated, 350,000-square-foot office building to prep the site for construction.
Find more context and project images in the gallery above.
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Projected look of Medley’s repurposed office building, next to a standalone restaurant and central plaza. Courtesy of Toro Development Company
The 43-acre Medley will be the first new section of Johns Creek’s Town Center concept. Toro Development Company; designs, Nelson Worldwide
Courtesy of Toro Development Company
Courtesy of Toro Development Company
Toro Development Company; designs, Nelson Worldwide
How the 175-key boutique hotel is expected to relate to a Medley greenspace and retail. Courtesy of Toro Development Company
The Medley site’s location in Johns Creek, in relation to Atlanta’s north OTP cities. Google Maps
Part of the 43-acre property, as seen along Johns Creek Parkway, while still actively used by State Farm in 2017. Google Maps
Overview of the Medley site’s two mid-rise office buildings formerly occupied by State Farm Insurance Co. The building at bottom is being incorporated into the new project. Google Maps
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Efforts to expand transit in Cobb, Gwinnett counties are D.O.A.
Efforts to expand transit in Cobb, Gwinnett counties are D.O.A.
Efforts to expand transit in Cobb, Gwinnett counties are D.O.A.
Josh Green
Wed, 11/06/2024 – 16:29
Alternate transportation supporters of metro Atlanta suffered a two-pronged setback on Election Tuesday that echoed similar transit rejections of years and decades past.
Measures that would have introduced new tax-funded bus and shuttle options in both Cobb and Gwinnett counties were rejected by voters in Georgia’s quickly growing second and third-most populated counties, respectively.
The stiff-arm from voters was strongest in Cobb County, where a proposed 1 percent sales tax increase to beef up rapid bus and shuttle transportation over the next three decades suffered a 62.3 percent to 37.6 percent defeat.
Georgia Secretary of State Office data show nearly 240,000 voters in Cobb rejected the Mobility Special Purpose Local Option Sales Tax, or MSPLOST.
Cobb transportation officials had estimated the sales tax bump would have generated more than $10 billion over 30 years to expand high-capacity bus transit and operations, creating an estimated 100 miles worth of new lines between key destinations such as The Battery Atlanta, Kennesaw State University, and Six Flags Over Georgia, among other activity hubs.
In Gwinnett, it was a much closer—but still unsuccessful—transportation vote.
Roughly 53 percent of Gwinnett voters said “no” to another 1 percent sales tax mechanism—a Transportation Special Purpose Local Option Sales Tax, or TSPLOST—that could have created an estimated $17 billion in transit funding over 30 years.
The Gwinnett County Board of Commissioners in June voted 4-1 in favor of placing the transit referendum on the Nov. 5 General Election ballot. According to county leadership, the estimated $17 billion culled from consumer spending in Gwinnett would have funded up to 75 transit projects around the county, with an emphasis on expanding bus and microtransit options. But it would not have included MARTA expansion or heavy rail in any capacity.
Ride Gwinnett’s proposed transit service diagram that won’t be SPLOST-funded. Ride Gwinnett
Highlights of the plan called for: expanded microtransit across the county by 2033; express bus routes from Snellville in southeast Gwinnett and Mall of Georgia in the far north to Atlanta’s airport; a BRT line between Doraville’s MARTA station and Lawrenceville, the county seat, and high-frequency buses elsewhere; plus additional, modernized transfer facilities throughout Gwinnett.
Like Cobb, the rejection continues Gwinnett’s track record with tax-funded, transit-expansion proposals.
Four rejections of proposed MARTA expansions in Gwinnett date back to 1971 and 1990, in addition to two more recent failed efforts, in both 2019 and 2020. The latter, a $12 billion plan, was rejected by a razor-thin margin.
Transit supporters had hoped Gwinnett’s status as a vastly different place these days—with three times the population as the early 1990s and a shift in politics and identity from suburban conservative to more progressive and globally diverse—would push the latest transit efforts over the finish line, but such was not the case.
Which begs the question: Now what?
…
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Twitter / Facebook/and now: Instagram
• Introducing ‘ATL Trains’: A revolutionary approach to Atlanta transit? (Urbanize Atlanta)
Ride Gwinnett’s proposed transit service diagram that won’t be SPLOST-funded. Ride Gwinnett
Efforts to expand transit in Cobb, Gwinnett counties are D.O.A.
Josh Green
Wed, 11/06/2024 – 16:29
Alternate transportation supporters of metro Atlanta suffered a two-pronged setback on Election Tuesday that echoed similar transit rejections of years and decades past.
Measures that would have introduced new tax-funded bus and shuttle options in both Cobb and Gwinnett counties were rejected by voters in Georgia’s quickly growing second and third-most populated counties, respectively.
The stiff-arm from voters was strongest in Cobb County, where a proposed 1 percent sales tax increase to beef up rapid bus and shuttle transportation over the next three decades suffered a 62.3 percent to 37.6 percent defeat.
Georgia Secretary of State Office data show nearly 240,000 voters in Cobb rejected the Mobility Special Purpose Local Option Sales Tax, or MSPLOST.
Cobb transportation officials had estimated the sales tax bump would have generated more than $10 billion over 30 years to expand high-capacity bus transit and operations, creating an estimated 100 miles worth of new lines between key destinations such as The Battery Atlanta, Kennesaw State University, and Six Flags Over Georgia, among other activity hubs.
In Gwinnett, it was a much closer—but still unsuccessful—transportation vote.
Roughly 53 percent of Gwinnett voters said “no” to another 1 percent sales tax mechanism—a Transportation Special Purpose Local Option Sales Tax, or TSPLOST—that could have created an estimated $17 billion in transit funding over 30 years.
The Gwinnett County Board of Commissioners in June voted 4-1 in favor of placing the transit referendum on the Nov. 5 General Election ballot. According to county leadership, the estimated $17 billion culled from consumer spending in Gwinnett would have funded up to 75 transit projects around the county, with an emphasis on expanding bus and microtransit options. But it would not have included MARTA expansion or heavy rail in any capacity.
Ride Gwinnett’s proposed transit service diagram that won’t be SPLOST-funded. Ride Gwinnett
Highlights of the plan called for: expanded microtransit across the county by 2033; express bus routes from Snellville in southeast Gwinnett and Mall of Georgia in the far north to Atlanta’s airport; a BRT line between Doraville’s MARTA station and Lawrenceville, the county seat, and high-frequency buses elsewhere; plus additional, modernized transfer facilities throughout Gwinnett.
Like Cobb, the rejection continues Gwinnett’s track record with tax-funded, transit-expansion proposals.
Four rejections of proposed MARTA expansions in Gwinnett date back to 1971 and 1990, in addition to two more recent failed efforts, in both 2019 and 2020. The latter, a $12 billion plan, was rejected by a razor-thin margin.
Transit supporters had hoped Gwinnett’s status as a vastly different place these days—with three times the population as the early 1990s and a shift in politics and identity from suburban conservative to more progressive and globally diverse—would push the latest transit efforts over the finish line, but such was not the case.
Which begs the question: Now what?
…
Follow us on social media:
Twitter / Facebook/and now: Instagram
• Introducing ‘ATL Trains’: A revolutionary approach to Atlanta transit? (Urbanize Atlanta)
Tags
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Ride Gwinnett’s proposed transit service diagram that won’t be SPLOST-funded. Ride Gwinnett
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Now what?
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Efforts to expand transit in Cobb, Gwinnett counties are D.O.A.
Josh Green
Wed, 11/06/2024 – 16:29
Alternate transportation supporters of metro Atlanta suffered a two-pronged setback on Election Tuesday that echoed similar transit rejections of years and decades past.
Measures that would have introduced new tax-funded bus and shuttle options in both Cobb and Gwinnett counties were rejected by voters in Georgia’s quickly growing second and third-most populated counties, respectively.
The stiff-arm from voters was strongest in Cobb County, where a proposed 1 percent sales tax increase to beef up rapid bus and shuttle transportation over the next three decades suffered a 62.3 percent to 37.6 percent defeat.
Georgia Secretary of State Office data show nearly 240,000 voters in Cobb rejected the Mobility Special Purpose Local Option Sales Tax, or MSPLOST.
Cobb transportation officials had estimated the sales tax bump would have generated more than $10 billion over 30 years to expand high-capacity bus transit and operations, creating an estimated 100 miles worth of new lines between key destinations such as The Battery Atlanta, Kennesaw State University, and Six Flags Over Georgia, among other activity hubs.
In Gwinnett, it was a much closer—but still unsuccessful—transportation vote.
Roughly 53 percent of Gwinnett voters said “no” to another 1 percent sales tax mechanism—a Transportation Special Purpose Local Option Sales Tax, or TSPLOST—that could have created an estimated $17 billion in transit funding over 30 years.
The Gwinnett County Board of Commissioners in June voted 4-1 in favor of placing the transit referendum on the Nov. 5 General Election ballot. According to county leadership, the estimated $17 billion culled from consumer spending in Gwinnett would have funded up to 75 transit projects around the county, with an emphasis on expanding bus and microtransit options. But it would not have included MARTA expansion or heavy rail in any capacity.
Ride Gwinnett’s proposed transit service diagram that won’t be SPLOST-funded. Ride Gwinnett
Highlights of the plan called for: expanded microtransit across the county by 2033; express bus routes from Snellville in southeast Gwinnett and Mall of Georgia in the far north to Atlanta’s airport; a BRT line between Doraville’s MARTA station and Lawrenceville, the county seat, and high-frequency buses elsewhere; plus additional, modernized transfer facilities throughout Gwinnett.
Like Cobb, the rejection continues Gwinnett’s track record with tax-funded, transit-expansion proposals.
Four rejections of proposed MARTA expansions in Gwinnett date back to 1971 and 1990, in addition to two more recent failed efforts, in both 2019 and 2020. The latter, a $12 billion plan, was rejected by a razor-thin margin.
Transit supporters had hoped Gwinnett’s status as a vastly different place these days—with three times the population as the early 1990s and a shift in politics and identity from suburban conservative to more progressive and globally diverse—would push the latest transit efforts over the finish line, but such was not the case.
Which begs the question: Now what?
…
Follow us on social media:
Twitter / Facebook/and now: Instagram
• Introducing ‘ATL Trains’: A revolutionary approach to Atlanta transit? (Urbanize Atlanta)
Tags
Atlanta Transit
Cobb County
Gwinnett County
Atlanta Suburbs
Bus Transit
Gwinnett County News
Gwinnett County Transit
TSPLOST
SPLOST
Alternate Transportation
Alternative Transportation
Cobb County News
Cobb County Transportation
BRT
Bus Rapid Transit
Microtransit
Shuttle buses
Shuttles
Images
Ride Gwinnett’s proposed transit service diagram that won’t be SPLOST-funded. Ride Gwinnett
Subtitle
Now what?
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