Amgen Announces $1B Holly Springs Factory Expansion
Amgen Announces $1B Holly Springs Factory Expansion
Amgen announced a $1 billion expansion to establish a second drug substance manufacturing facility in North Carolina. This brings the company’s total planned investment in Holly Springs to more than $1.5 billion, building on its previously announced $550 million commitment.
The $1 billion facility will incorporate cutting-edge technologies and sustainable practices. In tandem with the existing facility, these investments will create 370 new jobs in the region, supporting the area’s biomanufacturing hub.
North Carolina’s Economic Investment Committee approved a Job Development Investment Grant that will reimburse Amgen up to $4.9 million yearly across the grant’s 12-year duration. The project is expected to grow the state’s economy by $3.6 billion throughout that period. When fully operational, more than 720 jobs will be generated across both facilities. Construction began in March 2022, and that plant will be operational in 2026.
The firm owns nearly 109 acres at 4130 Friendship Road, and the two plants are slated for delivery there.
The post Amgen Announces $1B Holly Springs Factory Expansion appeared first on Connect CRE.
Amgen announced a $1 billion expansion to establish a second drug substance manufacturing facility in North Carolina. This brings the company’s total planned investment in Holly Springs to more than $1.5 billion, building on its previously announced $550 million commitment. The $1 billion facility will incorporate cutting-edge technologies and sustainable practices. In tandem with the existing facility, these investments will create 370 …
The post Amgen Announces $1B Holly Springs Factory Expansion appeared first on Connect CRE. Read MoreAtlanta & Southeast Commercial Real Estate News
Amgen announced a $1 billion expansion to establish a second drug substance manufacturing facility in North Carolina. This brings the company’s total planned investment in Holly Springs to more than $1.5 billion, building on its previously announced $550 million commitment. The $1 billion facility will incorporate cutting-edge technologies and sustainable practices. In tandem with the existing facility, these investments will create 370 …
The post Amgen Announces $1B Holly Springs Factory Expansion appeared first on Connect CRE.
Toro adds Italian restaurant, outdoors retailer, more tenants to Johns Creek project
Toro adds Italian restaurant, outdoors retailer, more tenants to Johns Creek project
An Italian restaurant, outdoor apparel retailer and personal care shop are among the latest tenants to join the Medley development.
An Italian restaurant, outdoor apparel retailer and personal care shop are among the latest tenants to join the Medley development. Read MoreBizjournals.com Feed (2019-09-06 17:16:48)
An Italian restaurant, outdoor apparel retailer and personal care shop are among the latest tenants to join the Medley development.
Toro adds Italian restaurant, outdoors retailer, more tenants to Johns Creek project
Toro adds Italian restaurant, outdoors retailer, more tenants to Johns Creek project
An Italian restaurant, outdoor apparel retailer and personal care shop are among the latest tenants to join the Medley development.
An Italian restaurant, outdoor apparel retailer and personal care shop are among the latest tenants to join the Medley development. Read MoreBizjournals.com Feed (2022-04-02 21:43:57)
An Italian restaurant, outdoor apparel retailer and personal care shop are among the latest tenants to join the Medley development.
1890s downtown ATL landmark up for grabs. Any big ideas?
1890s downtown ATL landmark up for grabs. Any big ideas?
1890s downtown ATL landmark up for grabs. Any big ideas?
Josh Green
Mon, 12/09/2024 – 16:00
A standout historical structure in the shadow of downtown skyscrapers is being marketed as a prime candidate for adaptive-reuse development.
Occupying the southeast corner of Edgewood Avenue and Courtland Street, across the street from Hurt Park, the 1800s building has lived past lives of many uses, and it recently hit the market with JLL in hopes of becoming something else, according to Scott Cullen, a JLL Capital Markets managing director.
The 125 Edgewood Ave. building, totaling just shy of 7,000 square feet, was completed in 1890 by developer Joel Hurt and businessman Samuel Inman in what was called “Shermantown” at the time. It’s considered one of the last “true” and “relatively untouched Victorian mansions left downtown,” according to JLL’s listing.
The asking price isn’t specified.
Courtesy of JLL Capital Markets
The 1890 structure’s location in relation to Hurt Park, the downtown Connector, and other landmarks. Courtesy of JLL Capital Markets
Having served as one of Coca-Cola’s earliest bottling operations, beginning in 1900, the building is listed on the National Registry of Historic Places. Its former uses across well over a century have included a radio service store, a dry goods store, and several pharmacies, among other uses.
The building has served as Georgia State University’s Baptist Student Union since 1966 and is 100 percent occupied today, according to JLL.
But the property’s current downtown zoning (SPI-1 SA1) would allow for a range of adaptive-reuse possibilities, including residential, boutique hotel, museum, creative office, restaurant, and retail uses within a short walk of MARTA and downtown attractions, per JLL.
125 Edgewood “will continue to attract visitors curious about its unique architecture and history for years to come,” reads the sales pitch.
The building’s conversion to something else wouldn’t be the only notable change in the immediate area.
Courtesy of JLL Capital Markets
Example of interiors at the circa-1890 Edgewood Avenue building today. Courtesy of JLL Capital Markets
Across the street, a $107-million remake of properties bordering Hurt Park was recently announced by GSU, with a goal of finishing before Atlanta’s 2026 FIFA World Cup.
Just north of Hurt Park, changes are also in store for the 100 Edgewood high-rise building. According to GSU officials, the 1960s, 18-story structure will see a dining area and gathering space at its base, while the first four floors will be remade into classrooms in the near term.
Find a closer look at the 125 Edgewood Ave. property today in the gallery above.
…
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The 1890 structure’s location in relation to Hurt Park, the downtown Connector, and other landmarks. Courtesy of JLL Capital Markets
Courtesy of JLL Capital Markets
Courtesy of JLL Capital Markets
Example of interiors at the circa-1890 Edgewood Avenue building today. Courtesy of JLL Capital Markets
Courtesy of JLL Capital Markets
Courtesy of JLL Capital Markets
1890s downtown ATL landmark up for grabs. Any big ideas?
Josh Green
Mon, 12/09/2024 – 16:00
A standout historical structure in the shadow of downtown skyscrapers is being marketed as a prime candidate for adaptive-reuse development.
Occupying the southeast corner of Edgewood Avenue and Courtland Street, across the street from Hurt Park, the 1800s building has lived past lives of many uses, and it recently hit the market with JLL in hopes of becoming something else, according to Scott Cullen, a JLL Capital Markets managing director.
The 125 Edgewood Ave. building, totaling just shy of 7,000 square feet, was completed in 1890 by developer Joel Hurt and businessman Samuel Inman in what was called “Shermantown” at the time. It’s considered one of the last “true” and “relatively untouched Victorian mansions left downtown,” according to JLL’s listing.
The asking price isn’t specified.
Courtesy of JLL Capital Markets
The 1890 structure’s location in relation to Hurt Park, the downtown Connector, and other landmarks. Courtesy of JLL Capital Markets
Having served as one of Coca-Cola’s earliest bottling operations, beginning in 1900, the building is listed on the National Registry of Historic Places. Its former uses across well over a century have included a radio service store, a dry goods store, and several pharmacies, among other uses.
The building has served as Georgia State University’s Baptist Student Union since 1966 and is 100 percent occupied today, according to JLL.
But the property’s current downtown zoning (SPI-1 SA1) would allow for a range of adaptive-reuse possibilities, including residential, boutique hotel, museum, creative office, restaurant, and retail uses within a short walk of MARTA and downtown attractions, per JLL.
125 Edgewood “will continue to attract visitors curious about its unique architecture and history for years to come,” reads the sales pitch.
The building’s conversion to something else wouldn’t be the only notable change in the immediate area.
Courtesy of JLL Capital Markets
Example of interiors at the circa-1890 Edgewood Avenue building today. Courtesy of JLL Capital Markets
Across the street, a $107-million remake of properties bordering Hurt Park was recently announced by GSU, with a goal of finishing before Atlanta’s 2026 FIFA World Cup.
Just north of Hurt Park, changes are also in store for the 100 Edgewood high-rise building. According to GSU officials, the 1960s, 18-story structure will see a dining area and gathering space at its base, while the first four floors will be remade into classrooms in the near term.
Find a closer look at the 125 Edgewood Ave. property today in the gallery above.
…
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Shermantown
Joel Hurt
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125 Edgewood
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GSU
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The 1890 structure’s location in relation to Hurt Park, the downtown Connector, and other landmarks. Courtesy of JLL Capital Markets
Courtesy of JLL Capital Markets
Courtesy of JLL Capital Markets
Example of interiors at the circa-1890 Edgewood Avenue building today. Courtesy of JLL Capital Markets
Courtesy of JLL Capital Markets
Courtesy of JLL Capital Markets
Subtitle
Historic structure with Coca-Cola roots called one of last Victorian mansions left downtown
Neighborhood
Downtown
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Before/After Images
Sponsored Post
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1890s downtown ATL landmark up for grabs. Any big ideas?
Josh Green
Mon, 12/09/2024 – 16:00
A standout historical structure in the shadow of downtown skyscrapers is being marketed as a prime candidate for adaptive-reuse development.
Occupying the southeast corner of Edgewood Avenue and Courtland Street, across the street from Hurt Park, the 1800s building has lived past lives of many uses, and it recently hit the market with JLL in hopes of becoming something else, according to Scott Cullen, a JLL Capital Markets managing director.
The 125 Edgewood Ave. building, totaling just shy of 7,000 square feet, was completed in 1890 by developer Joel Hurt and businessman Samuel Inman in what was called “Shermantown” at the time. It’s considered one of the last “true” and “relatively untouched Victorian mansions left downtown,” according to JLL’s listing.
The asking price isn’t specified.
Courtesy of JLL Capital Markets
The 1890 structure’s location in relation to Hurt Park, the downtown Connector, and other landmarks. Courtesy of JLL Capital Markets
Having served as one of Coca-Cola’s earliest bottling operations, beginning in 1900, the building is listed on the National Registry of Historic Places. Its former uses across well over a century have included a radio service store, a dry goods store, and several pharmacies, among other uses.
The building has served as Georgia State University’s Baptist Student Union since 1966 and is 100 percent occupied today, according to JLL.
But the property’s current downtown zoning (SPI-1 SA1) would allow for a range of adaptive-reuse possibilities, including residential, boutique hotel, museum, creative office, restaurant, and retail uses within a short walk of MARTA and downtown attractions, per JLL.
125 Edgewood “will continue to attract visitors curious about its unique architecture and history for years to come,” reads the sales pitch.
The building’s conversion to something else wouldn’t be the only notable change in the immediate area.
Courtesy of JLL Capital Markets
Example of interiors at the circa-1890 Edgewood Avenue building today. Courtesy of JLL Capital Markets
Across the street, a $107-million remake of properties bordering Hurt Park was recently announced by GSU, with a goal of finishing before Atlanta’s 2026 FIFA World Cup.
Just north of Hurt Park, changes are also in store for the 100 Edgewood high-rise building. According to GSU officials, the 1960s, 18-story structure will see a dining area and gathering space at its base, while the first four floors will be remade into classrooms in the near term.
Find a closer look at the 125 Edgewood Ave. property today in the gallery above.
…
Follow us on social media:
Twitter / Facebook/and now: Instagram
• Downtown news, discussion (Urbanize Atlanta)
Tags
125 Edgewood Avenue NE
Shermantown
Joel Hurt
Samuel Inman
Coca-Cola
Georgia State University Baptist Union
125 Edgewood
Georgia State University
GSU
Hurt Park
Adaptive-Reuse
JLL
JLL Capital Markets
Adaptive Reuse
Adaptive-Reuse Development
Sweet Auburn
Sweet Auburn Freedom Walk
Atlanta History
Atlanta Historic
Atlanta Historic Preservation
Atlanta Architecture
Images
The 1890 structure’s location in relation to Hurt Park, the downtown Connector, and other landmarks. Courtesy of JLL Capital Markets
Courtesy of JLL Capital Markets
Courtesy of JLL Capital Markets
Example of interiors at the circa-1890 Edgewood Avenue building today. Courtesy of JLL Capital Markets
Courtesy of JLL Capital Markets
Courtesy of JLL Capital Markets
Subtitle
Historic structure with Coca-Cola roots called one of last Victorian mansions left downtown
Neighborhood
Downtown
Background Image
Image
Before/After Images
Sponsored Post
Off
Report: Midtown packed on another 2,200 residences in 2024
Report: Midtown packed on another 2,200 residences in 2024
Report: Midtown packed on another 2,200 residences in 2024
Josh Green
Mon, 12/09/2024 – 13:46
Atlanta’s champ for explosive vertical growth over the past dozen years and counting is reporting another strong year—and projecting more boom times ahead.
Midtown Alliance, a nonprofit coalition of business and community leaders, has taken stock of development described as moving at “a torrid pace” again in 2024, when another new project of significant scale delivered, on average, every two months.
Those projects are adding to $10 billion in private development that’s has been invested over the past six years alone in the 1.2-square-mile Midtown Improvement District, or what’s generally considered the neighborhood’s commercial core.
Throughout 2024, six major developments were finished and opened, notably adding another nearly 2,200 living options to the subdistrict and boosting Midtown’s status as a residential district, according to Midtown Alliance’s year-end tabulations. (Alliance leaders reported earlier this year that roughly 60 new people were moving into Midtown every week.)
A zoomed-out view over Piedmont Park in late May as The Meadow grass was still recovering from Atlanta Jazz Festival 2024. Urbanize Atlanta
New high-rise entrants to Midtown’s apartment market this year included Momentum Midtown (70 total stories), Emmi Midtown (31 stories), Loria Ansley (28 stories), and Society Atlanta (also 31 stories).
The number of new residences tallied in 2024 is the second most for a 12-month period in Midtown history, and almost all of them are apartments, as opposed to for-sale condos, per Midtown Alliance. (The last condo project to come online in Midtown was the 40 West 12th building, which started selling 64 units in pandemic-challenged 2020; new product there is still for sale.)
Collectively, the six developments that came online in 2024 added another 65,000 square feet of retail space to Midtown’s streets.
That includes a restaurant component at Portman’s Ten Twenty Spring building declared finished last week—a 530,000-square-foot Class A venture that will likely be Midtown’s last spec office building in coming years.
Overview of core Midtown development over the past six years, with the recent proposal neighboring The Varsity and the under-construction, two-tower Middle Street Partners project near Piedmont Park not shown. Courtesy of Midtown Alliance
Some other juicy tidbits from Midtown Alliance’s year-end wrap up:
• Gangbusters growth in the student housing sector (a category that didn’t exist in Midtown a decade ago) continues, with 600 new student beds delivering this year and another 800 on tap for 2025. Per Midtown Alliance’s calculations, some 8,500 of Midtown’s current 28,000 residents are college students attending Georgia Tech, SCAD Atlanta, Emory University, Georgia State University, and other area schools.
• Apart from the third phase of Tech Square and a component of Rockefeller Group’s 1072 West Peachtree skyscraper (a 60-story project set to deliver in 2026), the Midtown submarket appears to be in pause mode when it comes to new offices. “Generally in place of new construction,” noted the year-end report, “the emphasis will shift more toward existing office buildings in the district making investments to upgrade their spaces and attract new tenants.”
• Midtown development in general shows few signs of petering out—at least not in 2025. Next year will begin with seven projects actively under construction and more that have been approved to start.
• The next buildings of significant scale on tap for Midtown in 2025 will deliver more than 1,000 additional apartments. Those include the two-tower 1081 Juniper St. project, Modera Parkside, and student-housing venture Rambler Atlanta, which topped out in late summer over Peachtree Street.
• Those next projects on the Midtown horizon will add another 15,000 square feet of retail to the mix.
• Today, CoStar pegs the average rent for non-student apartments in Midtown at $2,460 monthly, per Midtown Alliance.
Proximity of three new Midtown high-rises to each other, with the leafy city beyond. Urbanize Atlanta
…
Follow us on social media:
Twitter / Facebook/and now: Instagram
• Midtown news, discussion (Urbanize Atlanta)
Report: Midtown packed on another 2,200 residences in 2024
Josh Green
Mon, 12/09/2024 – 13:46
Atlanta’s champ for explosive vertical growth over the past dozen years and counting is reporting another strong year—and projecting more boom times ahead.
Midtown Alliance, a nonprofit coalition of business and community leaders, has taken stock of development described as moving at “a torrid pace” again in 2024, when another new project of significant scale delivered, on average, every two months.
Those projects are adding to $10 billion in private development that’s has been invested over the past six years alone in the 1.2-square-mile Midtown Improvement District, or what’s generally considered the neighborhood’s commercial core.
Throughout 2024, six major developments were finished and opened, notably adding another nearly 2,200 living options to the subdistrict and boosting Midtown’s status as a residential district, according to Midtown Alliance’s year-end tabulations. (Alliance leaders reported earlier this year that roughly 60 new people were moving into Midtown every week.)
A zoomed-out view over Piedmont Park in late May as The Meadow grass was still recovering from Atlanta Jazz Festival 2024. Urbanize Atlanta
New high-rise entrants to Midtown’s apartment market this year included Momentum Midtown (70 total stories), Emmi Midtown (31 stories), Loria Ansley (28 stories), and Society Atlanta (also 31 stories).
The number of new residences tallied in 2024 is the second most for a 12-month period in Midtown history, and almost all of them are apartments, as opposed to for-sale condos, per Midtown Alliance. (The last condo project to come online in Midtown was the 40 West 12th building, which started selling 64 units in pandemic-challenged 2020; new product there is still for sale.)
Collectively, the six developments that came online in 2024 added another 65,000 square feet of retail space to Midtown’s streets.
That includes a restaurant component at Portman’s Ten Twenty Spring building declared finished last week—a 530,000-square-foot Class A venture that will likely be Midtown’s last spec office building in coming years.
Overview of core Midtown development over the past six years, with the recent proposal neighboring The Varsity and the under-construction, two-tower Middle Street Partners project near Piedmont Park not shown. Courtesy of Midtown Alliance
Some other juicy tidbits from Midtown Alliance’s year-end wrap up:
• Gangbusters growth in the student housing sector (a category that didn’t exist in Midtown a decade ago) continues, with 600 new student beds delivering this year and another 800 on tap for 2025. Per Midtown Alliance’s calculations, some 8,500 of Midtown’s current 28,000 residents are college students attending Georgia Tech, SCAD Atlanta, Emory University, Georgia State University, and other area schools.
• Apart from the third phase of Tech Square and a component of Rockefeller Group’s 1072 West Peachtree skyscraper (a 60-story project set to deliver in 2026), the Midtown submarket appears to be in pause mode when it comes to new offices. “Generally in place of new construction,” noted the year-end report, “the emphasis will shift more toward existing office buildings in the district making investments to upgrade their spaces and attract new tenants.”
• Midtown development in general shows few signs of petering out—at least not in 2025. Next year will begin with seven projects actively under construction and more that have been approved to start.
• The next buildings of significant scale on tap for Midtown in 2025 will deliver more than 1,000 additional apartments. Those include the two-tower 1081 Juniper St. project, Modera Parkside, and student-housing venture Rambler Atlanta, which topped out in late summer over Peachtree Street.
• Those next projects on the Midtown horizon will add another 15,000 square feet of retail to the mix.
• Today, CoStar pegs the average rent for non-student apartments in Midtown at $2,460 monthly, per Midtown Alliance.
Proximity of three new Midtown high-rises to each other, with the leafy city beyond. Urbanize Atlanta
…
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Twitter / Facebook/and now: Instagram
• Midtown news, discussion (Urbanize Atlanta)
Tags
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Atlanta Construction
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Momentum Midtown
Atlanta Growth
Midtown Growth
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Student Housing
Ten Twenty Spring
1020 Spring
1072 West Peachtree
Subtitle
That’s nearly a record for the district, as construction boom continues, Midtown Alliance reports
Neighborhood
Midtown
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Before/After Images
Sponsored Post
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Report: Midtown packed on another 2,200 residences in 2024
Josh Green
Mon, 12/09/2024 – 13:46
Atlanta’s champ for explosive vertical growth over the past dozen years and counting is reporting another strong year—and projecting more boom times ahead.
Midtown Alliance, a nonprofit coalition of business and community leaders, has taken stock of development described as moving at “a torrid pace” again in 2024, when another new project of significant scale delivered, on average, every two months.
Those projects are adding to $10 billion in private development that’s has been invested over the past six years alone in the 1.2-square-mile Midtown Improvement District, or what’s generally considered the neighborhood’s commercial core.
Throughout 2024, six major developments were finished and opened, notably adding another nearly 2,200 living options to the subdistrict and boosting Midtown’s status as a residential district, according to Midtown Alliance’s year-end tabulations. (Alliance leaders reported earlier this year that roughly 60 new people were moving into Midtown every week.)
A zoomed-out view over Piedmont Park in late May as The Meadow grass was still recovering from Atlanta Jazz Festival 2024. Urbanize Atlanta
New high-rise entrants to Midtown’s apartment market this year included Momentum Midtown (70 total stories), Emmi Midtown (31 stories), Loria Ansley (28 stories), and Society Atlanta (also 31 stories).
The number of new residences tallied in 2024 is the second most for a 12-month period in Midtown history, and almost all of them are apartments, as opposed to for-sale condos, per Midtown Alliance. (The last condo project to come online in Midtown was the 40 West 12th building, which started selling 64 units in pandemic-challenged 2020; new product there is still for sale.)
Collectively, the six developments that came online in 2024 added another 65,000 square feet of retail space to Midtown’s streets.
That includes a restaurant component at Portman’s Ten Twenty Spring building declared finished last week—a 530,000-square-foot Class A venture that will likely be Midtown’s last spec office building in coming years.
Overview of core Midtown development over the past six years, with the recent proposal neighboring The Varsity and the under-construction, two-tower Middle Street Partners project near Piedmont Park not shown. Courtesy of Midtown Alliance
Some other juicy tidbits from Midtown Alliance’s year-end wrap up:
• Gangbusters growth in the student housing sector (a category that didn’t exist in Midtown a decade ago) continues, with 600 new student beds delivering this year and another 800 on tap for 2025. Per Midtown Alliance’s calculations, some 8,500 of Midtown’s current 28,000 residents are college students attending Georgia Tech, SCAD Atlanta, Emory University, Georgia State University, and other area schools.
• Apart from the third phase of Tech Square and a component of Rockefeller Group’s 1072 West Peachtree skyscraper (a 60-story project set to deliver in 2026), the Midtown submarket appears to be in pause mode when it comes to new offices. “Generally in place of new construction,” noted the year-end report, “the emphasis will shift more toward existing office buildings in the district making investments to upgrade their spaces and attract new tenants.”
• Midtown development in general shows few signs of petering out—at least not in 2025. Next year will begin with seven projects actively under construction and more that have been approved to start.
• The next buildings of significant scale on tap for Midtown in 2025 will deliver more than 1,000 additional apartments. Those include the two-tower 1081 Juniper St. project, Modera Parkside, and student-housing venture Rambler Atlanta, which topped out in late summer over Peachtree Street.
• Those next projects on the Midtown horizon will add another 15,000 square feet of retail to the mix.
• Today, CoStar pegs the average rent for non-student apartments in Midtown at $2,460 monthly, per Midtown Alliance.
Proximity of three new Midtown high-rises to each other, with the leafy city beyond. Urbanize Atlanta
…
Follow us on social media:
Twitter / Facebook/and now: Instagram
• Midtown news, discussion (Urbanize Atlanta)
Tags
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Midtown Atlanta
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Atlanta Construction
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Atlanta apartments
Momentum Midtown
Atlanta Growth
Midtown Growth
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Student Housing
Ten Twenty Spring
1020 Spring
1072 West Peachtree
Subtitle
That’s nearly a record for the district, as construction boom continues, Midtown Alliance reports
Neighborhood
Midtown
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Before/After Images
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INDUS Snags Majority Share of $575M Carolinas Industrial Portfolio
INDUS Snags Majority Share of $575M Carolinas Industrial Portfolio
INDUS Realty Trust, Inc. acquired a majority interest in a 4.3 million square foot logistics portfolio comprising 21 buildings (the “Carolinas Portfolio”). This acquisition is part of a recapitalization of approximately one-third of Childress Klein’s (“CK”) 13.2 million square foot industrial portfolio. INDUS and CK have entered into a joint venture on the Carolinas Portfolio, with CK retaining a minority ownership stake and continuing to manage and lease the properties. The acquisition values the Carolinas Portfolio at $575 million.
The Carolinas Portfolio, which is 94% leased, includes 16 buildings in Charlotte, North Carolina, and 5 buildings in Charleston, South Carolina. These regions have been among the top-performing industrial markets, driven by their robust population growth and economic development, strategic access to essential infrastructure such as ports and intermodal yards, and burgeoning manufacturing investments.
The Carolinas Portfolio features a mix of last-mile, regional, and bulk logistics properties. The buildings and individual tenant suites average 205,000 and 78,000 square feet in size, respectively, and the properties have a weighted average age of 13 years.
Eastdil Secured represented Childress Klein in arranging the transaction.
The post INDUS Snags Majority Share of $575M Carolinas Industrial Portfolio appeared first on Connect CRE.
INDUS Realty Trust, Inc. acquired a majority interest in a 4.3 million square foot logistics portfolio comprising 21 buildings (the “Carolinas Portfolio”). This acquisition is part of a recapitalization of approximately one-third of Childress Klein’s (“CK”) 13.2 million square foot industrial portfolio. INDUS and CK have entered into a joint venture on the Carolinas Portfolio, …
The post INDUS Snags Majority Share of $575M Carolinas Industrial Portfolio appeared first on Connect CRE. Read MoreAtlanta & Southeast Commercial Real Estate News
INDUS Realty Trust, Inc. acquired a majority interest in a 4.3 million square foot logistics portfolio comprising 21 buildings (the “Carolinas Portfolio”). This acquisition is part of a recapitalization of approximately one-third of Childress Klein’s (“CK”) 13.2 million square foot industrial portfolio. INDUS and CK have entered into a joint venture on the Carolinas Portfolio, …
The post INDUS Snags Majority Share of $575M Carolinas Industrial Portfolio appeared first on Connect CRE.
Berkadia Secures $46.8M Loan for Memphis-Area Development
Berkadia Secures $46.8M Loan for Memphis-Area Development
City National Bank provided a four-year, floating-rate loan of $46.8 million to fund the construction of The ONE at Millington, a new 360-unit, garden-style multifamily development located in Millington, Tennessee. One Real Estate Investment (OREI) is the sponsor. Berkadia’s Brad Williamson, Patrick Johnson, Mitch Sinberg, Scott Wadler and Matt Robbins secured the financing on behalf of OREI.
Located at 8490 US-51, The ONE at Millington will be a 360-unit, three-story garden-style multifamily development set on a 24-acre site. The ONE at Millington will offer one-, two-, and three-bedroom apartments, with an average size of 1,071 square feet per unit. On-site amenities include a pool with an outdoor cabana and bar area and a state-of-the-art fitness center.
The complex is located at the center of Millington Farms, a 100-acre mixed-use, master-planned development. This community includes future developments such as three hotels, six medical office buildings, and over 100,000 square feet of retail, alongside an assisted living facility.
The post Berkadia Secures $46.8M Loan for Memphis-Area Development appeared first on Connect CRE.
City National Bank provided a four-year, floating-rate loan of $46.8 million to fund the construction of The ONE at Millington, a new 360-unit, garden-style multifamily development located in Millington, Tennessee. One Real Estate Investment (OREI) is the sponsor. Berkadia’s Brad Williamson, Patrick Johnson, Mitch Sinberg, Scott Wadler and Matt Robbins secured the financing on behalf of …
The post Berkadia Secures $46.8M Loan for Memphis-Area Development appeared first on Connect CRE. Read MoreAtlanta & Southeast Commercial Real Estate News
City National Bank provided a four-year, floating-rate loan of $46.8 million to fund the construction of The ONE at Millington, a new 360-unit, garden-style multifamily development located in Millington, Tennessee. One Real Estate Investment (OREI) is the sponsor. Berkadia’s Brad Williamson, Patrick Johnson, Mitch Sinberg, Scott Wadler and Matt Robbins secured the financing on behalf of …
The post Berkadia Secures $46.8M Loan for Memphis-Area Development appeared first on Connect CRE.
Development breaks ground near Atlanta Beltline spur trail
Development breaks ground near Atlanta Beltline spur trail
Development breaks ground near Atlanta Beltline spur trail
Josh Green
Mon, 12/09/2024 – 08:13
A mixed-use development has officially joined an English Avenue growth spurt that’s seeing hundreds of residences come together in projects both large and not.
The Proctor, a mixed-income building, broke ground Thursday on vacant land at 698 Oliver St. That’s roughly a block south of the Westside Beltline Connector greenway trail, a link between the main Beltline loop and downtown Atlanta.
The joint venture between Atlanta Housing and Atlanta-based developer Windsor Stevens Holdings calls for 137 units total, with 41 of them reserved as affordable housing for residents earning at most 80 percent of the area median income.
According to Atlanta Housing, those rent-capped apartments will be reserved exclusively for AH Housing Choice Voucher participants, a means to guarantee their affordability for at least 30 years.
Atlanta Housing officials describe the $55.6-million project as a “visionary [and] monumental step forward” in the creation of attainable housing intown.
Atlanta Mayor Andre Dickens addresses the crowd at last week’s The Proctor groundbreaking. Courtesy of Cornerstone Creative Studios/Essayon Construction Group
Planned lighting scheme at The Proctor. Windsor Stevens Holdings; designs, Niles Bolton Associates architects
Beyond the apartments—which will average 813 square feet, per city officials—the eight-story building will also include 10,000 square feet of retail space at ground level and a three-level parking deck.
Amenities in the works include a pool deck, fitness and yoga room, dog spa, and a “chill room” equipped with a full kitchen, according to permitting paperwork filed with the city’s Office of Buildings in May.
Windsor Stevens was founded by Atlanta developer Rod Mullice, whose portfolio includes transit-focused projects such as The Pad on Harvard in College Park and forthcoming The Frazier at Old Towne Gordon in Chamblee. Mullice has called The Proctor’s proximity to Georgia Tech’s campus another selling point.
Mullice tells Urbanize Atlanta the project remains on pace to open in the second quarter of 2026. The building’s retail component will be reserved for tenants focused on health, wellness, and beauty, Mullice says.
A mural perspective on the backside of the project. Windsor Stevens Holdings; designs, Niles Bolton Associates architects
How the 137-unit The Proctor building’s balconies and retail will face cross streets. Windsor Stevens Holdings; designs, Niles Bolton Associates architects
Promotional materials point to MARTA’s Bankhead station a mile west, and Microsoft’s 90-acre property about 1.8 miles away, as walkable plusses of the location. The development is described as being transit-focused overall.
The Proctor is being put together through Atlanta Urban Development, a nonprofit entity that aims to develop underused public land into mixed-income housing. An LLC called WS Proctor Co. purchased the assemblage of properties for $3.75 million in March 2022.
The development team also includes Essayon Progress Management (construction), Niles Bolton Associates (architecture), Eberly and Associates (engineering), The Dragon Group (sustainable consulting), Nelson Mullins (legal), and Aprio (accounting).
According to Atlanta Housing, the project marks the agency’s first financial closing using HUD’s streamlined Local, Non-Traditional/Moving to Work process, which has allowed The Proctor to move forward quicker and with greater efficiency.
The English Avenue site in question is tucked off Donald Lee Hollowell Parkway, immediately west of Brock Built Homes’ 30-unit Oliver Street Townhomes. Other landmarks in the area include The Salvation Army Bellwood Boys and Girls Club (about two block east) and the Echo Street West project (also two blocks east).
The 698 Oliver St. site in question, just north of DLH Parkway and a few blocks from Westside Motor Lounge. Google Maps
The vacant site in question, at left, as seen in early 2023 with Brock Built Homes’ Oliver Street Townhomes next door. Google Maps
…
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Atlanta Mayor Andre Dickens addresses the crowd at last week’s The Proctor groundbreaking. Courtesy of Cornerstone Creative Studios/Essayon Construction Group
Courtesy of Cornerstone Creative Studios/Essayon Construction Group
The 698 Oliver St. site in question, just north of DLH Parkway and a few blocks from Westside Motor Lounge. Google Maps
The vacant site in question, at left, as seen in early 2023 with Brock Built Homes’ Oliver Street Townhomes next door. Google Maps
How the 137-unit The Proctor building’s balconies and retail will face cross streets. Windsor Stevens Holdings; designs, Niles Bolton Associates architects
Planned lighting scheme at The Proctor. Windsor Stevens Holdings; designs, Niles Bolton Associates architects
A mural perspective on the backside of the project. Windsor Stevens Holdings; designs, Niles Bolton Associates architects
Development breaks ground near Atlanta Beltline spur trail
Josh Green
Mon, 12/09/2024 – 08:13
A mixed-use development has officially joined an English Avenue growth spurt that’s seeing hundreds of residences come together in projects both large and not.
The Proctor, a mixed-income building, broke ground Thursday on vacant land at 698 Oliver St. That’s roughly a block south of the Westside Beltline Connector greenway trail, a link between the main Beltline loop and downtown Atlanta.
The joint venture between Atlanta Housing and Atlanta-based developer Windsor Stevens Holdings calls for 137 units total, with 41 of them reserved as affordable housing for residents earning at most 80 percent of the area median income.
According to Atlanta Housing, those rent-capped apartments will be reserved exclusively for AH Housing Choice Voucher participants, a means to guarantee their affordability for at least 30 years.
Atlanta Housing officials describe the $55.6-million project as a “visionary [and] monumental step forward” in the creation of attainable housing intown.
Atlanta Mayor Andre Dickens addresses the crowd at last week’s The Proctor groundbreaking. Courtesy of Cornerstone Creative Studios/Essayon Construction Group
Planned lighting scheme at The Proctor. Windsor Stevens Holdings; designs, Niles Bolton Associates architects
Beyond the apartments—which will average 813 square feet, per city officials—the eight-story building will also include 10,000 square feet of retail space at ground level and a three-level parking deck.
Amenities in the works include a pool deck, fitness and yoga room, dog spa, and a “chill room” equipped with a full kitchen, according to permitting paperwork filed with the city’s Office of Buildings in May.
Windsor Stevens was founded by Atlanta developer Rod Mullice, whose portfolio includes transit-focused projects such as The Pad on Harvard in College Park and forthcoming The Frazier at Old Towne Gordon in Chamblee. Mullice has called The Proctor’s proximity to Georgia Tech’s campus another selling point.
Mullice tells Urbanize Atlanta the project remains on pace to open in the second quarter of 2026. The building’s retail component will be reserved for tenants focused on health, wellness, and beauty, Mullice says.
A mural perspective on the backside of the project. Windsor Stevens Holdings; designs, Niles Bolton Associates architects
How the 137-unit The Proctor building’s balconies and retail will face cross streets. Windsor Stevens Holdings; designs, Niles Bolton Associates architects
Promotional materials point to MARTA’s Bankhead station a mile west, and Microsoft’s 90-acre property about 1.8 miles away, as walkable plusses of the location. The development is described as being transit-focused overall.
The Proctor is being put together through Atlanta Urban Development, a nonprofit entity that aims to develop underused public land into mixed-income housing. An LLC called WS Proctor Co. purchased the assemblage of properties for $3.75 million in March 2022.
The development team also includes Essayon Progress Management (construction), Niles Bolton Associates (architecture), Eberly and Associates (engineering), The Dragon Group (sustainable consulting), Nelson Mullins (legal), and Aprio (accounting).
According to Atlanta Housing, the project marks the agency’s first financial closing using HUD’s streamlined Local, Non-Traditional/Moving to Work process, which has allowed The Proctor to move forward quicker and with greater efficiency.
The English Avenue site in question is tucked off Donald Lee Hollowell Parkway, immediately west of Brock Built Homes’ 30-unit Oliver Street Townhomes. Other landmarks in the area include The Salvation Army Bellwood Boys and Girls Club (about two block east) and the Echo Street West project (also two blocks east).
The 698 Oliver St. site in question, just north of DLH Parkway and a few blocks from Westside Motor Lounge. Google Maps
The vacant site in question, at left, as seen in early 2023 with Brock Built Homes’ Oliver Street Townhomes next door. Google Maps
…
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Tags
698 OLIVER St. NW
The Proctor
Windsor Stevens Holdings
H.J. Russell Co.
Eberly & Associates
The Dragon Group
Nelson Mullins
Niles Bolton Associates
Aprio
Atlanta Development
Atlanta Construction
Atlanta apartments
Mixed-Use Development
Joseph E. Boone Boulevard
Bankhead
For Rent in Atlanta
Westside BeltLine Connector
Rod Mullice
Essayon Progress Management
Donald Lee Hollowell
Essayon Construction Group
Atlanta Housing
Images
Atlanta Mayor Andre Dickens addresses the crowd at last week’s The Proctor groundbreaking. Courtesy of Cornerstone Creative Studios/Essayon Construction Group
Courtesy of Cornerstone Creative Studios/Essayon Construction Group
The 698 Oliver St. site in question, just north of DLH Parkway and a few blocks from Westside Motor Lounge. Google Maps
The vacant site in question, at left, as seen in early 2023 with Brock Built Homes’ Oliver Street Townhomes next door. Google Maps
How the 137-unit The Proctor building’s balconies and retail will face cross streets. Windsor Stevens Holdings; designs, Niles Bolton Associates architects
Planned lighting scheme at The Proctor. Windsor Stevens Holdings; designs, Niles Bolton Associates architects
A mural perspective on the backside of the project. Windsor Stevens Holdings; designs, Niles Bolton Associates architects
Subtitle
The Proctor project called “monumental step forward” for Westside affordable housing
Neighborhood
English Avenue
Background Image
Image
Associated Project
The Proctor
Before/After Images
Sponsored Post
Off Read More
Development breaks ground near Atlanta Beltline spur trail
Josh Green
Mon, 12/09/2024 – 08:13
A mixed-use development has officially joined an English Avenue growth spurt that’s seeing hundreds of residences come together in projects both large and not.
The Proctor, a mixed-income building, broke ground Thursday on vacant land at 698 Oliver St. That’s roughly a block south of the Westside Beltline Connector greenway trail, a link between the main Beltline loop and downtown Atlanta.
The joint venture between Atlanta Housing and Atlanta-based developer Windsor Stevens Holdings calls for 137 units total, with 41 of them reserved as affordable housing for residents earning at most 80 percent of the area median income.
According to Atlanta Housing, those rent-capped apartments will be reserved exclusively for AH Housing Choice Voucher participants, a means to guarantee their affordability for at least 30 years.
Atlanta Housing officials describe the $55.6-million project as a “visionary [and] monumental step forward” in the creation of attainable housing intown.
Atlanta Mayor Andre Dickens addresses the crowd at last week’s The Proctor groundbreaking. Courtesy of Cornerstone Creative Studios/Essayon Construction Group
Planned lighting scheme at The Proctor. Windsor Stevens Holdings; designs, Niles Bolton Associates architects
Beyond the apartments—which will average 813 square feet, per city officials—the eight-story building will also include 10,000 square feet of retail space at ground level and a three-level parking deck.
Amenities in the works include a pool deck, fitness and yoga room, dog spa, and a “chill room” equipped with a full kitchen, according to permitting paperwork filed with the city’s Office of Buildings in May.
Windsor Stevens was founded by Atlanta developer Rod Mullice, whose portfolio includes transit-focused projects such as The Pad on Harvard in College Park and forthcoming The Frazier at Old Towne Gordon in Chamblee. Mullice has called The Proctor’s proximity to Georgia Tech’s campus another selling point.
Mullice tells Urbanize Atlanta the project remains on pace to open in the second quarter of 2026. The building’s retail component will be reserved for tenants focused on health, wellness, and beauty, Mullice says.
A mural perspective on the backside of the project. Windsor Stevens Holdings; designs, Niles Bolton Associates architects
How the 137-unit The Proctor building’s balconies and retail will face cross streets. Windsor Stevens Holdings; designs, Niles Bolton Associates architects
Promotional materials point to MARTA’s Bankhead station a mile west, and Microsoft’s 90-acre property about 1.8 miles away, as walkable plusses of the location. The development is described as being transit-focused overall.
The Proctor is being put together through Atlanta Urban Development, a nonprofit entity that aims to develop underused public land into mixed-income housing. An LLC called WS Proctor Co. purchased the assemblage of properties for $3.75 million in March 2022.
The development team also includes Essayon Progress Management (construction), Niles Bolton Associates (architecture), Eberly and Associates (engineering), The Dragon Group (sustainable consulting), Nelson Mullins (legal), and Aprio (accounting).
According to Atlanta Housing, the project marks the agency’s first financial closing using HUD’s streamlined Local, Non-Traditional/Moving to Work process, which has allowed The Proctor to move forward quicker and with greater efficiency.
The English Avenue site in question is tucked off Donald Lee Hollowell Parkway, immediately west of Brock Built Homes’ 30-unit Oliver Street Townhomes. Other landmarks in the area include The Salvation Army Bellwood Boys and Girls Club (about two block east) and the Echo Street West project (also two blocks east).
The 698 Oliver St. site in question, just north of DLH Parkway and a few blocks from Westside Motor Lounge. Google Maps
The vacant site in question, at left, as seen in early 2023 with Brock Built Homes’ Oliver Street Townhomes next door. Google Maps
…
Follow us on social media:
Twitter / Facebook/and now: Instagram
• English Avenue news, discussion (Urbanize Atlanta)
Tags
698 OLIVER St. NW
The Proctor
Windsor Stevens Holdings
H.J. Russell Co.
Eberly & Associates
The Dragon Group
Nelson Mullins
Niles Bolton Associates
Aprio
Atlanta Development
Atlanta Construction
Atlanta apartments
Mixed-Use Development
Joseph E. Boone Boulevard
Bankhead
For Rent in Atlanta
Westside BeltLine Connector
Rod Mullice
Essayon Progress Management
Donald Lee Hollowell
Essayon Construction Group
Atlanta Housing
Images
Atlanta Mayor Andre Dickens addresses the crowd at last week’s The Proctor groundbreaking. Courtesy of Cornerstone Creative Studios/Essayon Construction Group
Courtesy of Cornerstone Creative Studios/Essayon Construction Group
The 698 Oliver St. site in question, just north of DLH Parkway and a few blocks from Westside Motor Lounge. Google Maps
The vacant site in question, at left, as seen in early 2023 with Brock Built Homes’ Oliver Street Townhomes next door. Google Maps
How the 137-unit The Proctor building’s balconies and retail will face cross streets. Windsor Stevens Holdings; designs, Niles Bolton Associates architects
Planned lighting scheme at The Proctor. Windsor Stevens Holdings; designs, Niles Bolton Associates architects
A mural perspective on the backside of the project. Windsor Stevens Holdings; designs, Niles Bolton Associates architects
Subtitle
The Proctor project called “monumental step forward” for Westside affordable housing
Neighborhood
English Avenue
Background Image
Image
Associated Project
The Proctor
Before/After Images
Sponsored Post
Off
U-shaped Varsity tower proposal beefs up, gets taller
U-shaped Varsity tower proposal beefs up, gets taller
U-shaped Varsity tower proposal beefs up, gets taller
Josh Green
Fri, 12/06/2024 – 16:31
Plans for transforming parking lots into high-rise development near The Varsity’s iconic original location are getting more ambitious.
Athens-based Landmark Properties has revised the scope of its student-housing tower planned for 680 Spring St. in Midtown, or what’s been described as “the last great parcel” available in the subdistrict.
Landmark now plans to erect a U-shaped tower standing 40 stories, up from 34 stories initially pitched, according to the agenda for Midtown Development Review Committee’s monthly meeting Tuesday. That height could mark one of Midtown’s tallest buildings erected during the current development cycle.
Other changes to Landmark’s proposal include a beefed-up number of units from 560 to 626—or a whopping 2,235 total bedrooms for students. Originally, 1,992 bedrooms were planned.
The roughly 2-acre site in question immediately north of the original Varsity location. Google Maps
Original rendering showing perspective from the south for the 1,992-bed proposal. The scope has since been revised. Courtesy of Landmark Properties; designs, CNNA Architects
Revised plans for 431 parking spaces (in an eight-story podium, wrapped on three sides with student apartments) are actually less than the 554 parking slots initially planned.
The amount of proposed retail in the building has also bumped up from 8,100 to about 8,600 square feet, according the Midtown DRC agenda.
We’ve reached out to Landmark representatives for revised renderings and more information on the proposed changes, and we’ll update this story should additional materials come.
The tower would claim about 2 acres of surface parking immediately north of The Varsity, near the point where North Avenue meets the downtown Connector, that the restaurant group has been looking to sell for several years.
Approximation of the restaurant and parking lot properties in question. Google Maps
The building’s southern drive would be an extension of Ponce de Leon Avenue, and pedestrian and bicyclist access would be provided from three sides, with a large bike room situated to the south, near the restaurant, per Midtown DRC.
The parcel—bounded by the Connector to the west, and Spring Street to the east—is currently a collection of lots The Varsity leases to parking providers. Next door, the iconic eatery has been dishing chili dogs and frosted oranges with a side of “What’ll ya have?” for nearly a century.
For Landmark, the project would mark its fourth student-housing project in downtown and Midtown.
Others include The Standard, a student-housing tower also standing just north of The Varsity’s parking lots. More recently, the company completed the Legacy at Centennial tower downtown.
Landmark’s proposal, as drawn up by CNNA Architects, remains in design phases, but plans call for perks that have become par for the course with developments aimed at capturing the student market. Those will include a sports simulator, a sauna, sky lounges, a resort-grade pool with Jumbotrons, a large gym, and “extensive” study space, development officials have said.
The Varsity property in the shadow of high-rise construction in December 2020.Shutterstock
…
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• Midtown news, discussion (Urbanize Atlanta)
The roughly 2-acre site in question immediately north of the original Varsity location. Google Maps
Approximation of the restaurant and parking lot properties in question. Google Maps
Original rendering showing perspective from the south for the 1,992-bed proposal. The scope has since been revised. Courtesy of Landmark Properties; designs, CNNA Architects
The Varsity’s iconic signage and main building in 2017. Shutterstock
The Varsity property in the shadow of high-rise construction in December 2020.Shutterstock
U-shaped Varsity tower proposal beefs up, gets taller
Josh Green
Fri, 12/06/2024 – 16:31
Plans for transforming parking lots into high-rise development near The Varsity’s iconic original location are getting more ambitious.
Athens-based Landmark Properties has revised the scope of its student-housing tower planned for 680 Spring St. in Midtown, or what’s been described as “the last great parcel” available in the subdistrict.
Landmark now plans to erect a U-shaped tower standing 40 stories, up from 34 stories initially pitched, according to the agenda for Midtown Development Review Committee’s monthly meeting Tuesday. That height could mark one of Midtown’s tallest buildings erected during the current development cycle.
Other changes to Landmark’s proposal include a beefed-up number of units from 560 to 626—or a whopping 2,235 total bedrooms for students. Originally, 1,992 bedrooms were planned.
The roughly 2-acre site in question immediately north of the original Varsity location. Google Maps
Original rendering showing perspective from the south for the 1,992-bed proposal. The scope has since been revised. Courtesy of Landmark Properties; designs, CNNA Architects
Revised plans for 431 parking spaces (in an eight-story podium, wrapped on three sides with student apartments) are actually less than the 554 parking slots initially planned.
The amount of proposed retail in the building has also bumped up from 8,100 to about 8,600 square feet, according the Midtown DRC agenda.
We’ve reached out to Landmark representatives for revised renderings and more information on the proposed changes, and we’ll update this story should additional materials come.
The tower would claim about 2 acres of surface parking immediately north of The Varsity, near the point where North Avenue meets the downtown Connector, that the restaurant group has been looking to sell for several years.
Approximation of the restaurant and parking lot properties in question. Google Maps
The building’s southern drive would be an extension of Ponce de Leon Avenue, and pedestrian and bicyclist access would be provided from three sides, with a large bike room situated to the south, near the restaurant, per Midtown DRC.
The parcel—bounded by the Connector to the west, and Spring Street to the east—is currently a collection of lots The Varsity leases to parking providers. Next door, the iconic eatery has been dishing chili dogs and frosted oranges with a side of “What’ll ya have?” for nearly a century.
For Landmark, the project would mark its fourth student-housing project in downtown and Midtown.
Others include The Standard, a student-housing tower also standing just north of The Varsity’s parking lots. More recently, the company completed the Legacy at Centennial tower downtown.
Landmark’s proposal, as drawn up by CNNA Architects, remains in design phases, but plans call for perks that have become par for the course with developments aimed at capturing the student market. Those will include a sports simulator, a sauna, sky lounges, a resort-grade pool with Jumbotrons, a large gym, and “extensive” study space, development officials have said.
The Varsity property in the shadow of high-rise construction in December 2020.Shutterstock
…
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• Midtown news, discussion (Urbanize Atlanta)
Tags
61 North Avenue NW
The Varsity
Midtown
Development
Big Deals
Spring Street
Atlanta Parking Lots
Atlanta Development
Atlanta Restaurants
Varsity
Georgia Tech
Midtown Alliance
AJC
Any Big Ideas
Landmark Properties
CNNA Architects
Varsity Realty Corp.
VRC
Midtown Development
Midtown Construction
Midtown Growth
Midtown DRC
Midtown Development Review Committee
Images
The roughly 2-acre site in question immediately north of the original Varsity location. Google Maps
Approximation of the restaurant and parking lot properties in question. Google Maps
Original rendering showing perspective from the south for the 1,992-bed proposal. The scope has since been revised. Courtesy of Landmark Properties; designs, CNNA Architects
The Varsity’s iconic signage and main building in 2017. Shutterstock
The Varsity property in the shadow of high-rise construction in December 2020.Shutterstock
Subtitle
Agenda: Landmark Properties building over Connector, iconic restaurant now aims for 40 stories
Neighborhood
Midtown
Background Image
Image
Associated Project
61 North Ave NW
Before/After Images
Sponsored Post
Off Read More
U-shaped Varsity tower proposal beefs up, gets taller
Josh Green
Fri, 12/06/2024 – 16:31
Plans for transforming parking lots into high-rise development near The Varsity’s iconic original location are getting more ambitious.
Athens-based Landmark Properties has revised the scope of its student-housing tower planned for 680 Spring St. in Midtown, or what’s been described as “the last great parcel” available in the subdistrict.
Landmark now plans to erect a U-shaped tower standing 40 stories, up from 34 stories initially pitched, according to the agenda for Midtown Development Review Committee’s monthly meeting Tuesday. That height could mark one of Midtown’s tallest buildings erected during the current development cycle.
Other changes to Landmark’s proposal include a beefed-up number of units from 560 to 626—or a whopping 2,235 total bedrooms for students. Originally, 1,992 bedrooms were planned.
The roughly 2-acre site in question immediately north of the original Varsity location. Google Maps
Original rendering showing perspective from the south for the 1,992-bed proposal. The scope has since been revised. Courtesy of Landmark Properties; designs, CNNA Architects
Revised plans for 431 parking spaces (in an eight-story podium, wrapped on three sides with student apartments) are actually less than the 554 parking slots initially planned.
The amount of proposed retail in the building has also bumped up from 8,100 to about 8,600 square feet, according the Midtown DRC agenda.
We’ve reached out to Landmark representatives for revised renderings and more information on the proposed changes, and we’ll update this story should additional materials come.
The tower would claim about 2 acres of surface parking immediately north of The Varsity, near the point where North Avenue meets the downtown Connector, that the restaurant group has been looking to sell for several years.
Approximation of the restaurant and parking lot properties in question. Google Maps
The building’s southern drive would be an extension of Ponce de Leon Avenue, and pedestrian and bicyclist access would be provided from three sides, with a large bike room situated to the south, near the restaurant, per Midtown DRC.
The parcel—bounded by the Connector to the west, and Spring Street to the east—is currently a collection of lots The Varsity leases to parking providers. Next door, the iconic eatery has been dishing chili dogs and frosted oranges with a side of “What’ll ya have?” for nearly a century.
For Landmark, the project would mark its fourth student-housing project in downtown and Midtown.
Others include The Standard, a student-housing tower also standing just north of The Varsity’s parking lots. More recently, the company completed the Legacy at Centennial tower downtown.
Landmark’s proposal, as drawn up by CNNA Architects, remains in design phases, but plans call for perks that have become par for the course with developments aimed at capturing the student market. Those will include a sports simulator, a sauna, sky lounges, a resort-grade pool with Jumbotrons, a large gym, and “extensive” study space, development officials have said.
The Varsity property in the shadow of high-rise construction in December 2020.Shutterstock
…
Follow us on social media:
Twitter / Facebook/and now: Instagram
• Midtown news, discussion (Urbanize Atlanta)
Tags
61 North Avenue NW
The Varsity
Midtown
Development
Big Deals
Spring Street
Atlanta Parking Lots
Atlanta Development
Atlanta Restaurants
Varsity
Georgia Tech
Midtown Alliance
AJC
Any Big Ideas
Landmark Properties
CNNA Architects
Varsity Realty Corp.
VRC
Midtown Development
Midtown Construction
Midtown Growth
Midtown DRC
Midtown Development Review Committee
Images
The roughly 2-acre site in question immediately north of the original Varsity location. Google Maps
Approximation of the restaurant and parking lot properties in question. Google Maps
Original rendering showing perspective from the south for the 1,992-bed proposal. The scope has since been revised. Courtesy of Landmark Properties; designs, CNNA Architects
The Varsity’s iconic signage and main building in 2017. Shutterstock
The Varsity property in the shadow of high-rise construction in December 2020.Shutterstock
Subtitle
Agenda: Landmark Properties building over Connector, iconic restaurant now aims for 40 stories
Neighborhood
Midtown
Background Image
Image
Associated Project
61 North Ave NW
Before/After Images
Sponsored Post
Off
How Atlanta film festivals save theaters, boost state’s entertainment industry
How Atlanta film festivals save theaters, boost state’s entertainment industry
Atlanta film festivals have championed Georgia’s film industry by preventing theater closures and attracting artistic talent amid the pandemic, rise of streaming services and commercial development.
Atlanta film festivals have championed Georgia’s film industry by preventing theater closures and attracting artistic talent amid the pandemic, rise of streaming services and commercial development. Read MoreBizjournals.com Feed (2019-09-06 17:16:48)
Atlanta film festivals have championed Georgia’s film industry by preventing theater closures and attracting artistic talent amid the pandemic, rise of streaming services and commercial development.