Franklin Street Sells Pershing Park Plaza In Midtown For 25% Haircut
Franklin Street Sells Pershing Park Plaza In Midtown For 25% Haircut
A New England-based REIT has sold its last Atlanta building, accepting a price $11M below what it paid for the property.
A New England-based REIT has sold its last Atlanta building, accepting a price $11M below what it paid for the property. Read MoreBisnow News Feed
A New England-based REIT has sold its last Atlanta building, accepting a price $11M below what it paid for the property.
Bigger Canvas: Macy’s Purchase Makes Gwinnett Mall Redevelopment Opportunity More Attractive
Bigger Canvas: Macy’s Purchase Makes Gwinnett Mall Redevelopment Opportunity More Attractive
In September, Gwinnett County, Georgia, unveiled plans to purchase the Macy’s site at Gwinnett Place Mall, bringing it closer to reimagining the once-thriving retail hub into a robust mixed-use destination that will better serve community needs.
As part of the $16.5M deal, the Urban Redevelopment Agency of Gwinnett County will acquire 293K SF of retail space on 23 acres, adding to the county’s existing holdings of 39 acres of the mall site.
“This is a big deal because it means we’ll have more control over the site,” County Commissioner Kirkland Carden said. “This purchase expands the acreage of our planned redevelopment and reduces…
In September, Gwinnett County, Georgia, unveiled plans to purchase the Macy’s site at Gwinnett Place Mall, bringing it closer to reimagining the once-thriving retail hub into a robust mixed-use destination that will better serve community needs.
As… Read MoreBisnow News Feed
In September, Gwinnett County, Georgia, unveiled plans to purchase the Macy’s site at Gwinnett Place Mall, bringing it closer to reimagining the once-thriving retail hub into a robust mixed-use destination that will better serve community needs.
As…
This Week’s Atlanta Deal Sheet: AIG Nails Down Huge Expansion In Brookhaven
This Week’s Atlanta Deal Sheet: AIG Nails Down Huge Expansion In Brookhaven
Insurance giant American International Group has inked a deal to open a 180K SF innovation hub in Brookhaven.
Insurance giant American International Group has inked a deal to open a 180K SF innovation hub in Brookhaven. Read MoreBisnow News Feed
Insurance giant American International Group has inked a deal to open a 180K SF innovation hub in Brookhaven.
Video surfaces that brings downtown’s Centennial Yards to life
Video surfaces that brings downtown’s Centennial Yards to life
Video surfaces that brings downtown’s Centennial Yards to life
Josh Green
Fri, 12/06/2024 – 12:37
^ Complete with selfie-popping lovebirds and Trae Young three-point bombs, a video has come to light that shows in technicolor how Centennial Yards’ centralized fun zone is expected to look and function in less than two years.
As eagle-eyed readers point out, the Vimeo clip comes courtesy of Apex Visualization, the company behind the latest Centennial Yards renderings for the project’s 8-acre, mixed-use entertainment hub, which is set to be anchored by a Cosm entertainment dome.
That aspect of the former downtown Gulch—with other components that include a mid-rise hotel, bars and restaurants, and a fan plaza at the center—has started vertical infrastructure construction. Centennial Yards Company officials have said the structures will be finished in time for eight FIFA World Cup matches set to be played in Atlanta, beginning in June 2026.
More broadly, Centennial Yards’ infrastructure designs call for creating a dozen city blocks downtown, with a police mini precinct, a new fire station, and public greenspaces tucked among them. It’s expected to cost in the ballpark of $5 billion overall.
Centennial Yards is considered a partnership between the Atlanta Development Authority, the City of Atlanta, and Los Angeles-based developer CIM Group, among other stakeholders. The 50-acre megaproject’s first ground-up new residential tower, the 304-unit The Mitchell, topped out in August.
In an August reader poll asking which of downtown’s major projects will be most impactful and beneficial for the city, Centennial Yards captured 40 percent of more than 1,300 public votes, winning by a significant margin. The development has since caught flak for not delivering on affordable-housing promises with current projects.
A fresh perspective on a main dining and retail corridor with a large screen for sports at Centennial Yards. Centennial Yards images by Apex Visualization
Centennial Yards images by Apex Visualization
Centennial Yards images by Apex Visualization
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• Downtown news, discussion (Urbanize Atlanta)
A fresh perspective on a main dining and retail corridor with a large screen for sports at Centennial Yards. Centennial Yards images by Apex Visualization
Centennial Yards images by Apex Visualization
Centennial Yards images by Apex Visualization
Video surfaces that brings downtown’s Centennial Yards to life
Josh Green
Fri, 12/06/2024 – 12:37
^ Complete with selfie-popping lovebirds and Trae Young three-point bombs, a video has come to light that shows in technicolor how Centennial Yards’ centralized fun zone is expected to look and function in less than two years.
As eagle-eyed readers point out, the Vimeo clip comes courtesy of Apex Visualization, the company behind the latest Centennial Yards renderings for the project’s 8-acre, mixed-use entertainment hub, which is set to be anchored by a Cosm entertainment dome.
That aspect of the former downtown Gulch—with other components that include a mid-rise hotel, bars and restaurants, and a fan plaza at the center—has started vertical infrastructure construction. Centennial Yards Company officials have said the structures will be finished in time for eight FIFA World Cup matches set to be played in Atlanta, beginning in June 2026.
More broadly, Centennial Yards’ infrastructure designs call for creating a dozen city blocks downtown, with a police mini precinct, a new fire station, and public greenspaces tucked among them. It’s expected to cost in the ballpark of $5 billion overall.
Centennial Yards is considered a partnership between the Atlanta Development Authority, the City of Atlanta, and Los Angeles-based developer CIM Group, among other stakeholders. The 50-acre megaproject’s first ground-up new residential tower, the 304-unit The Mitchell, topped out in August.
In an August reader poll asking which of downtown’s major projects will be most impactful and beneficial for the city, Centennial Yards captured 40 percent of more than 1,300 public votes, winning by a significant margin. The development has since caught flak for not delivering on affordable-housing promises with current projects.
A fresh perspective on a main dining and retail corridor with a large screen for sports at Centennial Yards. Centennial Yards images by Apex Visualization
Centennial Yards images by Apex Visualization
Centennial Yards images by Apex Visualization
…
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• Downtown news, discussion (Urbanize Atlanta)
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A fresh perspective on a main dining and retail corridor with a large screen for sports at Centennial Yards. Centennial Yards images by Apex Visualization
Centennial Yards images by Apex Visualization
Centennial Yards images by Apex Visualization
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How Atlanta’s old Gulch is expected to look, function in less than two years
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Centennial Yards – 125 Ted Turner Dr SW
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Video surfaces that brings downtown’s Centennial Yards to life
Josh Green
Fri, 12/06/2024 – 12:37
^ Complete with selfie-popping lovebirds and Trae Young three-point bombs, a video has come to light that shows in technicolor how Centennial Yards’ centralized fun zone is expected to look and function in less than two years.
As eagle-eyed readers point out, the Vimeo clip comes courtesy of Apex Visualization, the company behind the latest Centennial Yards renderings for the project’s 8-acre, mixed-use entertainment hub, which is set to be anchored by a Cosm entertainment dome.
That aspect of the former downtown Gulch—with other components that include a mid-rise hotel, bars and restaurants, and a fan plaza at the center—has started vertical infrastructure construction. Centennial Yards Company officials have said the structures will be finished in time for eight FIFA World Cup matches set to be played in Atlanta, beginning in June 2026.
More broadly, Centennial Yards’ infrastructure designs call for creating a dozen city blocks downtown, with a police mini precinct, a new fire station, and public greenspaces tucked among them. It’s expected to cost in the ballpark of $5 billion overall.
Centennial Yards is considered a partnership between the Atlanta Development Authority, the City of Atlanta, and Los Angeles-based developer CIM Group, among other stakeholders. The 50-acre megaproject’s first ground-up new residential tower, the 304-unit The Mitchell, topped out in August.
In an August reader poll asking which of downtown’s major projects will be most impactful and beneficial for the city, Centennial Yards captured 40 percent of more than 1,300 public votes, winning by a significant margin. The development has since caught flak for not delivering on affordable-housing promises with current projects.
A fresh perspective on a main dining and retail corridor with a large screen for sports at Centennial Yards. Centennial Yards images by Apex Visualization
Centennial Yards images by Apex Visualization
Centennial Yards images by Apex Visualization
…
Follow us on social media:
Twitter / Facebook/and now: Instagram
• Downtown news, discussion (Urbanize Atlanta)
Tags
88 Elliott Street SW
Centennial Yards
Atlanta Fire Station No. 1
Steele Bridge
Elliott Street Pub
Downtown Development
downtown construction
Atlanta Hotels
Hotels
Gulch
The Gulch
CIM Group
Praxis3
Mercedes-Benz Stadium
Apex Visualization
Vimeo
Images
A fresh perspective on a main dining and retail corridor with a large screen for sports at Centennial Yards. Centennial Yards images by Apex Visualization
Centennial Yards images by Apex Visualization
Centennial Yards images by Apex Visualization
Subtitle
How Atlanta’s old Gulch is expected to look, function in less than two years
Neighborhood
Downtown
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Centennial Yards – 125 Ted Turner Dr SW
One Centennial Yards
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The National Observer: Real Estate: What’s on tap for the housing market in 2025
The National Observer: Real Estate: What’s on tap for the housing market in 2025
While inventory could be a bright spot for homebuyers in 2025, mortgage rates are likely to still be volatile next year.
While inventory could be a bright spot for homebuyers in 2025, mortgage rates are likely to still be volatile next year. Read MoreBizjournals.com Feed (2019-09-06 17:16:48)
While inventory could be a bright spot for homebuyers in 2025, mortgage rates are likely to still be volatile next year.
The National Observer: Real Estate: What’s on tap for the housing market in 2025
The National Observer: Real Estate: What’s on tap for the housing market in 2025
While inventory could be a bright spot for homebuyers in 2025, mortgage rates are likely to still be volatile next year.
While inventory could be a bright spot for homebuyers in 2025, mortgage rates are likely to still be volatile next year. Read MoreBizjournals.com Feed (2022-04-02 21:43:57)
While inventory could be a bright spot for homebuyers in 2025, mortgage rates are likely to still be volatile next year.
Owners Hope to Expand Birkdale Village
Owners Hope to Expand Birkdale Village
The owners of Birkdale Village in Huntersville want to add office space, a hotel, apartments and expand the retail offerings. A development group made up of North American Properties, Jamestown and Nuveen Properties is hoping to get a zoning change that will allow them to change the current plan and build a $180 million expansion.
The Charlotte Business Journal reports the details include a 125-room hotel, 150 multifamily units, 122,300 square feet of office space and 26,715 square feet of retail space.
The office building, which includes ground-floor retail space, would be developed at the site of an existing Barnes & Noble store. The 150-unit multifamily building is being planned for the current site of Dick’s Sporting Goods at Birkdale Village. The hotel would be across from the office building.
Birkdale Village is currently 100% occupied and includes around 250,000 square feet of retail space, 50,000 square feet of office space and 320 apartments.
The post Owners Hope to Expand Birkdale Village appeared first on Connect CRE.
The owners of Birkdale Village in Huntersville want to add office space, a hotel, apartments and expand the retail offerings. A development group made up of North American Properties, Jamestown and Nuveen Properties is hoping to get a zoning change that will allow them to change the current plan and build a $180 million expansion. …
The post Owners Hope to Expand Birkdale Village appeared first on Connect CRE. Read MoreAtlanta & Southeast Commercial Real Estate News
The owners of Birkdale Village in Huntersville want to add office space, a hotel, apartments and expand the retail offerings. A development group made up of North American Properties, Jamestown and Nuveen Properties is hoping to get a zoning change that will allow them to change the current plan and build a $180 million expansion. …
The post Owners Hope to Expand Birkdale Village appeared first on Connect CRE.
Newmark Lands 3-Member Nashville CBRE Office Team
Newmark Lands 3-Member Nashville CBRE Office Team
Jay O’Meara, Justin Parsonnet and Ryan Reethof have left CBRE and joined Newmark to lead office investment sales in the Southeast, including Atlanta, Nashville, Tennessee, Charlotte and Raleigh, North Carolina, and Florida. O’Meara and Parsonnet will serve as vice chairmen, and Reethof will serve as senior managing director.
O’Meara, Parsonnet, and Reethof have more than 65 years of collective experience, bringing a southeast track record of over 110 million square feet of closed transactions and $23 billion in sales volume spanning more than 25 markets. They were notably involved with the $380 million sale of Bank of America Plaza, the $201 million disposition of 3630 Peachtree and the 1.4 million-square-foot King & Queen towers—the landmark assets on which Newmark was recently engaged for agency leasing.
O’Meara, Parsonnet, and Reethof have built a network of institutional and private clients, including Oaktree Capital Management, Highwoods Properties, Shorenstein, Cousins Properties, CP Group and numerous high-net-worth groups.
The post Newmark Lands 3-Member Nashville CBRE Office Team appeared first on Connect CRE.
Jay O’Meara, Justin Parsonnet and Ryan Reethof have left CBRE and joined Newmark to lead office investment sales in the Southeast, including Atlanta, Nashville, Tennessee, Charlotte and Raleigh, North Carolina, and Florida. O’Meara and Parsonnet will serve as vice chairmen, and Reethof will serve as senior managing director. O’Meara, Parsonnet, and Reethof have more than …
The post Newmark Lands 3-Member Nashville CBRE Office Team appeared first on Connect CRE. Read MoreAtlanta & Southeast Commercial Real Estate News
Jay O’Meara, Justin Parsonnet and Ryan Reethof have left CBRE and joined Newmark to lead office investment sales in the Southeast, including Atlanta, Nashville, Tennessee, Charlotte and Raleigh, North Carolina, and Florida. O’Meara and Parsonnet will serve as vice chairmen, and Reethof will serve as senior managing director. O’Meara, Parsonnet, and Reethof have more than …
The post Newmark Lands 3-Member Nashville CBRE Office Team appeared first on Connect CRE.
Following derailment, MARTA OKs $500M new train control system
Following derailment, MARTA OKs $500M new train control system
Following derailment, MARTA OKs $500M new train control system
Josh Green
Thu, 12/05/2024 – 16:48
MARTA leadership has green-lighted a new train control system worth half-a-billion dollars the agency says will boost safety and increase on-time performance as its updated rail fleet is rolled out soon.
MARTA’s Board of Directors today voted to award Stadler Rail—the veteran manufacturer building MARTA’s $646-million modernized new railcars—an additional $500 million contract to equip the agency’s rail network with a system for controlling trains described as state-of-the-art.
The contract approval comes the same week a westbound MARTA train derailed during morning commutes Wednesday near King Memorial station. One set of train wheels slipped off tracks, and no injuries were reported, according to MARTA.
The new train-control system, CBCT, uses wireless communications to more precisely keep track of trains with real-time information, allowing for the system to be operated with better efficiency, safety, and precision, minimizing downtime, according to MARTA.
Stadler’s system is designed to work seamlessly with MARTA’s fleet of 56 new Stadler CQ400 railcars, which are being manufactured with the updated technology in Salt Lake City.
The look of a railcar in MARTA’s new fleet arriving at a renovated Five Points station. Courtesy of MARTA
MARTA first new train is scheduled to go into revenue service in July next year, agency officials have told Urbanize Atlanta. Trains will be able to run on MARTA’s old and new control system during a transition phase in Atlanta.
MARTA ordered the fleet from Stadler in 2019.
Many of MARTA’s 300 current railcars date to the agency’s 1970s beginnings and are prone to breakdowns, agency leaders have said.
Confirmed: A CQ400 train in MARTA’s new fleet undergoing testing in Utah in summer 2024.Photo by Paniolo_Man/reddit
MARTA’s new trains come in four-car sets, designed with open gangways to allow for easier movement from one car to the next. Courtesy of MARTA
Collie Greenwood, MARTA general manager and CEO, said the system update will prepare MARTA for the future and allow the agency to operate with “the highest safety standards” as “one of the most advanced transportation systems in the country.”
“The system,” Greenwood noted in a prepared statement, “will allow us to increase capacity, improve on-time performance, and optimize efficiency.”
…
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• Spotted in the wild: MARTA’s sleek, more functional new railcars! (Urbanize Atlanta)
The look of a railcar in MARTA’s new fleet arriving at a renovated Five Points station. Courtesy of MARTA
Confirmed: A CQ400 train in MARTA’s new fleet undergoing testing in Utah in summer 2024.Photo by Paniolo_Man/reddit
Courtesy of MARTA
MARTA’s new trains come in four-car sets, designed with open gangways to allow for easier movement from one car to the next. Courtesy of MARTA
Courtesy of MARTA
Courtesy of MARTA
Courtesy of MARTA
Courtesy of MARTA
Courtesy of MARTA
Courtesy of MARTA
Following derailment, MARTA OKs $500M new train control system
Josh Green
Thu, 12/05/2024 – 16:48
MARTA leadership has green-lighted a new train control system worth half-a-billion dollars the agency says will boost safety and increase on-time performance as its updated rail fleet is rolled out soon.
MARTA’s Board of Directors today voted to award Stadler Rail—the veteran manufacturer building MARTA’s $646-million modernized new railcars—an additional $500 million contract to equip the agency’s rail network with a system for controlling trains described as state-of-the-art.
The contract approval comes the same week a westbound MARTA train derailed during morning commutes Wednesday near King Memorial station. One set of train wheels slipped off tracks, and no injuries were reported, according to MARTA.
The new train-control system, CBCT, uses wireless communications to more precisely keep track of trains with real-time information, allowing for the system to be operated with better efficiency, safety, and precision, minimizing downtime, according to MARTA.
Stadler’s system is designed to work seamlessly with MARTA’s fleet of 56 new Stadler CQ400 railcars, which are being manufactured with the updated technology in Salt Lake City.
The look of a railcar in MARTA’s new fleet arriving at a renovated Five Points station. Courtesy of MARTA
MARTA first new train is scheduled to go into revenue service in July next year, agency officials have told Urbanize Atlanta. Trains will be able to run on MARTA’s old and new control system during a transition phase in Atlanta.
MARTA ordered the fleet from Stadler in 2019.
Many of MARTA’s 300 current railcars date to the agency’s 1970s beginnings and are prone to breakdowns, agency leaders have said.
Confirmed: A CQ400 train in MARTA’s new fleet undergoing testing in Utah in summer 2024.Photo by Paniolo_Man/reddit
MARTA’s new trains come in four-car sets, designed with open gangways to allow for easier movement from one car to the next. Courtesy of MARTA
Collie Greenwood, MARTA general manager and CEO, said the system update will prepare MARTA for the future and allow the agency to operate with “the highest safety standards” as “one of the most advanced transportation systems in the country.”
“The system,” Greenwood noted in a prepared statement, “will allow us to increase capacity, improve on-time performance, and optimize efficiency.”
…
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• Spotted in the wild: MARTA’s sleek, more functional new railcars! (Urbanize Atlanta)
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The look of a railcar in MARTA’s new fleet arriving at a renovated Five Points station. Courtesy of MARTA
Confirmed: A CQ400 train in MARTA’s new fleet undergoing testing in Utah in summer 2024.Photo by Paniolo_Man/reddit
Courtesy of MARTA
MARTA’s new trains come in four-car sets, designed with open gangways to allow for easier movement from one car to the next. Courtesy of MARTA
Courtesy of MARTA
Courtesy of MARTA
Courtesy of MARTA
Courtesy of MARTA
Courtesy of MARTA
Courtesy of MARTA
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Upgrade designed to boost on-time performance, rail safety as new MARTA fleet nears launch
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Following derailment, MARTA OKs $500M new train control system
Josh Green
Thu, 12/05/2024 – 16:48
MARTA leadership has green-lighted a new train control system worth half-a-billion dollars the agency says will boost safety and increase on-time performance as its updated rail fleet is rolled out soon.
MARTA’s Board of Directors today voted to award Stadler Rail—the veteran manufacturer building MARTA’s $646-million modernized new railcars—an additional $500 million contract to equip the agency’s rail network with a system for controlling trains described as state-of-the-art.
The contract approval comes the same week a westbound MARTA train derailed during morning commutes Wednesday near King Memorial station. One set of train wheels slipped off tracks, and no injuries were reported, according to MARTA.
The new train-control system, CBCT, uses wireless communications to more precisely keep track of trains with real-time information, allowing for the system to be operated with better efficiency, safety, and precision, minimizing downtime, according to MARTA.
Stadler’s system is designed to work seamlessly with MARTA’s fleet of 56 new Stadler CQ400 railcars, which are being manufactured with the updated technology in Salt Lake City.
The look of a railcar in MARTA’s new fleet arriving at a renovated Five Points station. Courtesy of MARTA
MARTA first new train is scheduled to go into revenue service in July next year, agency officials have told Urbanize Atlanta. Trains will be able to run on MARTA’s old and new control system during a transition phase in Atlanta.
MARTA ordered the fleet from Stadler in 2019.
Many of MARTA’s 300 current railcars date to the agency’s 1970s beginnings and are prone to breakdowns, agency leaders have said.
Confirmed: A CQ400 train in MARTA’s new fleet undergoing testing in Utah in summer 2024.Photo by Paniolo_Man/reddit
MARTA’s new trains come in four-car sets, designed with open gangways to allow for easier movement from one car to the next. Courtesy of MARTA
Collie Greenwood, MARTA general manager and CEO, said the system update will prepare MARTA for the future and allow the agency to operate with “the highest safety standards” as “one of the most advanced transportation systems in the country.”
“The system,” Greenwood noted in a prepared statement, “will allow us to increase capacity, improve on-time performance, and optimize efficiency.”
…
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• Spotted in the wild: MARTA’s sleek, more functional new railcars! (Urbanize Atlanta)
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MARTA trains
Images
The look of a railcar in MARTA’s new fleet arriving at a renovated Five Points station. Courtesy of MARTA
Confirmed: A CQ400 train in MARTA’s new fleet undergoing testing in Utah in summer 2024.Photo by Paniolo_Man/reddit
Courtesy of MARTA
MARTA’s new trains come in four-car sets, designed with open gangways to allow for easier movement from one car to the next. Courtesy of MARTA
Courtesy of MARTA
Courtesy of MARTA
Courtesy of MARTA
Courtesy of MARTA
Courtesy of MARTA
Courtesy of MARTA
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Upgrade designed to boost on-time performance, rail safety as new MARTA fleet nears launch
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Fuqua’s Old Fourth Ward development shows signs of life
Fuqua’s Old Fourth Ward development shows signs of life
Fuqua’s Old Fourth Ward development shows signs of life
Josh Green
Thu, 12/05/2024 – 14:06
For the first time in a year and 1/2, a mixed-use development that would transform an idle block of Old Fourth Ward near key roadways is showing signs of moving forward.
Paperwork filed last week with Atlanta’s Department of City Planning indicates construction phases could be beginning for a sizable apartment complex, anchored by a grocery store, that was initially put forward by Fuqua Development and its Charlotte-based partners, Northwood Ravin, in 2022.
Project representatives are seeking the city’s permission to install a sewer plug at the 505 Highland Ave. site, which is typically an initial step for construction. A permit for the work has since been issued, according to city records.
Inquiries to Fuqua Development and Northwood Ravin officials for a project update haven’t been returned this week. Northwood Ravin’s website identifies the project only as “Highland” and lists it as “coming soon.”
A Special Application Permit for the overall project was approved by the city two years ago.
As seen in July this year, the idle 3-acre site and shuttered Desperate Housewares Atlanta furniture store. Google Maps
The latest available rendering for how the project would transform one corner of the Highland Avenue-Boulevard intersection. (Highland Avenue frontage is at left.) Northwood Ravin/Fuqua Development; 2023
The November permitting paperwork indicates the project’s apartment count has been modified slightly to 285 units, along with “some retail space.” The Atlanta Business Chronicle reported in summer 2023 the development team had closed on the 3.3-acre site, paying $4 million per acre.
Earlier filings indicated the project will include 56,000 square feet of retail space with a grocery store—reportedly a Publix—in the mix, and that 15 percent of the apartments would be reserved for renters earning 80 percent of the area median income or less.
The collection of parcels is situated just east of downtown, where Highland Avenue meets Boulevard, next to the popular Freedom Barkway Dog Park.
The property in question is largely vacant now, apart from a standalone house and the former Desperate Housewares Atlanta furniture store—both now shuttered. Two buildings in a low-rise brick apartment complex immediately to the east would not be impacted, and neither would the dog park, plans indicate.
Other aspects of the Highland Avenue development call for roughly 12,400 square feet for restaurants and retail, plus a garage with 400 parking spaces that would serve retail guests, residents, and visitors headed to the dog park just south of new construction, according to plans brought forward in 2023. The development team said it was expected to cost $122 million at the time.
Looking southwest, initial images of Fuqua Development’s proposal are shown next to John Lewis Freedom Parkway. Submitted
Breakdown of the Fuqua proposal as submitted to the city in 2022. Fuqua Development/Office of Zoning and Development
In May last year, the project succeeded in scoring a tax break despite Old Fourth Ward’s status as one of metro Atlanta’s hottest redevelopment zones.
The Development Authority of Fulton County approved a request for $5.7 million in tax savings across 10 years. Fuqua and co-developers told DAFC members the abatement would determine whether the Old Fourth Ward project gets built or remains an underused lot, as its inclusion of affordable apartments would drop the return-on-investment to 5.4 percent with no tax help—a return they consider unviable, according to the AJC. Developers agreed to preserve those apartments’ affordability status for a decade longer than city code requires—30 years—in exchange for the tax incentive.
The development team also vowed last year to allocate $900,000 toward new sidewalks and on-street parking.
In addition to suburban mixed-use ventures at The Battery and in places like Buford, Fuqua’s controversial Atlanta-based development company is known for projects with a heavy emphasis on parking such as Midtown Place and Edgewood Retail District, and a suburban-style node with a towering self-storage facility near Atlantic Station. Fuqua’s more recent work includes Madison Yards in Reynoldstown.
Northwood Ravin’s work in Atlanta includes a mixed-use venture called Halo East Decatur that’s bringing nearly 400 apartments to the doorstep of MARTA’s Avondale station. That project is undergoing vertical construction now.
Just north of the Highland Avenue site, plans are starting to materialize for a massive redevelopment of Atlanta Medical Center’s 22 acres. That could see hundreds of new residences, plus commercial, retail, medical, and greenspace uses start coming together as early as 2025.
So time, it seems, could be of the essence in O4W.
…
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• Old Fourth Ward news, discussion (Urbanize Atlanta)
The latest available rendering for how the project would transform one corner of the Highland Avenue-Boulevard intersection. (Highland Avenue frontage is at left.) Northwood Ravin/Fuqua Development; 2023
As seen in July this year, the idle 3-acre site and shuttered Desperate Housewares Atlanta furniture store. Google Maps
Rough boundaries of the Old Fourth Ward property in question, where Highland Avenue meets Boulevard, just north of the neighborhood dog park. Google Maps
Looking southwest, initial images of Fuqua Development’s proposal are shown next to John Lewis Freedom Parkway. Submitted
An early look at the proposal’s scope as it relates to Tribute Lofts, pictured at right. Submitted
Breakdown of the Fuqua proposal as submitted to the city in 2022. Fuqua Development/Office of Zoning and Development
Fuqua’s Old Fourth Ward development shows signs of life
Josh Green
Thu, 12/05/2024 – 14:06
For the first time in a year and 1/2, a mixed-use development that would transform an idle block of Old Fourth Ward near key roadways is showing signs of moving forward.
Paperwork filed last week with Atlanta’s Department of City Planning indicates construction phases could be beginning for a sizable apartment complex, anchored by a grocery store, that was initially put forward by Fuqua Development and its Charlotte-based partners, Northwood Ravin, in 2022.
Project representatives are seeking the city’s permission to install a sewer plug at the 505 Highland Ave. site, which is typically an initial step for construction. A permit for the work has since been issued, according to city records.
Inquiries to Fuqua Development and Northwood Ravin officials for a project update haven’t been returned this week. Northwood Ravin’s website identifies the project only as “Highland” and lists it as “coming soon.”
A Special Application Permit for the overall project was approved by the city two years ago.
As seen in July this year, the idle 3-acre site and shuttered Desperate Housewares Atlanta furniture store. Google Maps
The latest available rendering for how the project would transform one corner of the Highland Avenue-Boulevard intersection. (Highland Avenue frontage is at left.) Northwood Ravin/Fuqua Development; 2023
The November permitting paperwork indicates the project’s apartment count has been modified slightly to 285 units, along with “some retail space.” The Atlanta Business Chronicle reported in summer 2023 the development team had closed on the 3.3-acre site, paying $4 million per acre.
Earlier filings indicated the project will include 56,000 square feet of retail space with a grocery store—reportedly a Publix—in the mix, and that 15 percent of the apartments would be reserved for renters earning 80 percent of the area median income or less.
The collection of parcels is situated just east of downtown, where Highland Avenue meets Boulevard, next to the popular Freedom Barkway Dog Park.
The property in question is largely vacant now, apart from a standalone house and the former Desperate Housewares Atlanta furniture store—both now shuttered. Two buildings in a low-rise brick apartment complex immediately to the east would not be impacted, and neither would the dog park, plans indicate.
Other aspects of the Highland Avenue development call for roughly 12,400 square feet for restaurants and retail, plus a garage with 400 parking spaces that would serve retail guests, residents, and visitors headed to the dog park just south of new construction, according to plans brought forward in 2023. The development team said it was expected to cost $122 million at the time.
Looking southwest, initial images of Fuqua Development’s proposal are shown next to John Lewis Freedom Parkway. Submitted
Breakdown of the Fuqua proposal as submitted to the city in 2022. Fuqua Development/Office of Zoning and Development
In May last year, the project succeeded in scoring a tax break despite Old Fourth Ward’s status as one of metro Atlanta’s hottest redevelopment zones.
The Development Authority of Fulton County approved a request for $5.7 million in tax savings across 10 years. Fuqua and co-developers told DAFC members the abatement would determine whether the Old Fourth Ward project gets built or remains an underused lot, as its inclusion of affordable apartments would drop the return-on-investment to 5.4 percent with no tax help—a return they consider unviable, according to the AJC. Developers agreed to preserve those apartments’ affordability status for a decade longer than city code requires—30 years—in exchange for the tax incentive.
The development team also vowed last year to allocate $900,000 toward new sidewalks and on-street parking.
In addition to suburban mixed-use ventures at The Battery and in places like Buford, Fuqua’s controversial Atlanta-based development company is known for projects with a heavy emphasis on parking such as Midtown Place and Edgewood Retail District, and a suburban-style node with a towering self-storage facility near Atlantic Station. Fuqua’s more recent work includes Madison Yards in Reynoldstown.
Northwood Ravin’s work in Atlanta includes a mixed-use venture called Halo East Decatur that’s bringing nearly 400 apartments to the doorstep of MARTA’s Avondale station. That project is undergoing vertical construction now.
Just north of the Highland Avenue site, plans are starting to materialize for a massive redevelopment of Atlanta Medical Center’s 22 acres. That could see hundreds of new residences, plus commercial, retail, medical, and greenspace uses start coming together as early as 2025.
So time, it seems, could be of the essence in O4W.
…
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Images
The latest available rendering for how the project would transform one corner of the Highland Avenue-Boulevard intersection. (Highland Avenue frontage is at left.) Northwood Ravin/Fuqua Development; 2023
As seen in July this year, the idle 3-acre site and shuttered Desperate Housewares Atlanta furniture store. Google Maps
Rough boundaries of the Old Fourth Ward property in question, where Highland Avenue meets Boulevard, just north of the neighborhood dog park. Google Maps
Looking southwest, initial images of Fuqua Development’s proposal are shown next to John Lewis Freedom Parkway. Submitted
An early look at the proposal’s scope as it relates to Tribute Lofts, pictured at right. Submitted
Breakdown of the Fuqua proposal as submitted to the city in 2022. Fuqua Development/Office of Zoning and Development
Subtitle
Project with Northwood Ravin calls for nearly 300 new residences, plus grocery store anchor
Neighborhood
Old Fourth Ward
Background Image
Image
Associated Project
Fuqua Development – O4W Proposal
Before/After Images
Sponsored Post
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Fuqua’s Old Fourth Ward development shows signs of life
Josh Green
Thu, 12/05/2024 – 14:06
For the first time in a year and 1/2, a mixed-use development that would transform an idle block of Old Fourth Ward near key roadways is showing signs of moving forward.
Paperwork filed last week with Atlanta’s Department of City Planning indicates construction phases could be beginning for a sizable apartment complex, anchored by a grocery store, that was initially put forward by Fuqua Development and its Charlotte-based partners, Northwood Ravin, in 2022.
Project representatives are seeking the city’s permission to install a sewer plug at the 505 Highland Ave. site, which is typically an initial step for construction. A permit for the work has since been issued, according to city records.
Inquiries to Fuqua Development and Northwood Ravin officials for a project update haven’t been returned this week. Northwood Ravin’s website identifies the project only as “Highland” and lists it as “coming soon.”
A Special Application Permit for the overall project was approved by the city two years ago.
As seen in July this year, the idle 3-acre site and shuttered Desperate Housewares Atlanta furniture store. Google Maps
The latest available rendering for how the project would transform one corner of the Highland Avenue-Boulevard intersection. (Highland Avenue frontage is at left.) Northwood Ravin/Fuqua Development; 2023
The November permitting paperwork indicates the project’s apartment count has been modified slightly to 285 units, along with “some retail space.” The Atlanta Business Chronicle reported in summer 2023 the development team had closed on the 3.3-acre site, paying $4 million per acre.
Earlier filings indicated the project will include 56,000 square feet of retail space with a grocery store—reportedly a Publix—in the mix, and that 15 percent of the apartments would be reserved for renters earning 80 percent of the area median income or less.
The collection of parcels is situated just east of downtown, where Highland Avenue meets Boulevard, next to the popular Freedom Barkway Dog Park.
The property in question is largely vacant now, apart from a standalone house and the former Desperate Housewares Atlanta furniture store—both now shuttered. Two buildings in a low-rise brick apartment complex immediately to the east would not be impacted, and neither would the dog park, plans indicate.
Other aspects of the Highland Avenue development call for roughly 12,400 square feet for restaurants and retail, plus a garage with 400 parking spaces that would serve retail guests, residents, and visitors headed to the dog park just south of new construction, according to plans brought forward in 2023. The development team said it was expected to cost $122 million at the time.
Looking southwest, initial images of Fuqua Development’s proposal are shown next to John Lewis Freedom Parkway. Submitted
Breakdown of the Fuqua proposal as submitted to the city in 2022. Fuqua Development/Office of Zoning and Development
In May last year, the project succeeded in scoring a tax break despite Old Fourth Ward’s status as one of metro Atlanta’s hottest redevelopment zones.
The Development Authority of Fulton County approved a request for $5.7 million in tax savings across 10 years. Fuqua and co-developers told DAFC members the abatement would determine whether the Old Fourth Ward project gets built or remains an underused lot, as its inclusion of affordable apartments would drop the return-on-investment to 5.4 percent with no tax help—a return they consider unviable, according to the AJC. Developers agreed to preserve those apartments’ affordability status for a decade longer than city code requires—30 years—in exchange for the tax incentive.
The development team also vowed last year to allocate $900,000 toward new sidewalks and on-street parking.
In addition to suburban mixed-use ventures at The Battery and in places like Buford, Fuqua’s controversial Atlanta-based development company is known for projects with a heavy emphasis on parking such as Midtown Place and Edgewood Retail District, and a suburban-style node with a towering self-storage facility near Atlantic Station. Fuqua’s more recent work includes Madison Yards in Reynoldstown.
Northwood Ravin’s work in Atlanta includes a mixed-use venture called Halo East Decatur that’s bringing nearly 400 apartments to the doorstep of MARTA’s Avondale station. That project is undergoing vertical construction now.
Just north of the Highland Avenue site, plans are starting to materialize for a massive redevelopment of Atlanta Medical Center’s 22 acres. That could see hundreds of new residences, plus commercial, retail, medical, and greenspace uses start coming together as early as 2025.
So time, it seems, could be of the essence in O4W.
…
Follow us on social media:
Twitter / Facebook/and now: Instagram
• Old Fourth Ward news, discussion (Urbanize Atlanta)
Tags
505 Highland Ave. NE
Highland Avenue NE at Boulevard
Fuqua Development
Atlanta Development
O4W
Desperate Housewares Atlanta
Fourth Ward Alliance
Infill Development
Boulevard
North Highland Avenue
Fuqua
Jeff Fuqua
Tribute Lofts
Freedom Barkway Dog Park
Atlanta Park
Atlanta apartments
Tax Breaks
Development Authority of Fulton County
Mixed-Use Development
Northwood Ravin
Images
The latest available rendering for how the project would transform one corner of the Highland Avenue-Boulevard intersection. (Highland Avenue frontage is at left.) Northwood Ravin/Fuqua Development; 2023
As seen in July this year, the idle 3-acre site and shuttered Desperate Housewares Atlanta furniture store. Google Maps
Rough boundaries of the Old Fourth Ward property in question, where Highland Avenue meets Boulevard, just north of the neighborhood dog park. Google Maps
Looking southwest, initial images of Fuqua Development’s proposal are shown next to John Lewis Freedom Parkway. Submitted
An early look at the proposal’s scope as it relates to Tribute Lofts, pictured at right. Submitted
Breakdown of the Fuqua proposal as submitted to the city in 2022. Fuqua Development/Office of Zoning and Development
Subtitle
Project with Northwood Ravin calls for nearly 300 new residences, plus grocery store anchor
Neighborhood
Old Fourth Ward
Background Image
Image
Associated Project
Fuqua Development – O4W Proposal
Before/After Images
Sponsored Post
Off