Toro secures financing for $560 million Johns Creek project
Toro secures financing for $560 million Johns Creek project
Financing has been lined up for a major mixed-use project aimed at providing the affluent north Fulton suburb with a town center.
Financing has been lined up for a major mixed-use project aimed at providing the affluent north Fulton suburb with a town center. Read MoreBizjournals.com Feed (2022-04-02 21:43:57)
Financing has been lined up for a major mixed-use project aimed at providing the affluent north Fulton suburb with a town center.
BizSpotlight: Revesco Properties Trust
BizSpotlight: Revesco Properties Trust
The acquisition of Roswell Village in Roswell, GA,
The acquisition of Roswell Village in Roswell, GA, Read MoreBizjournals.com Feed (2019-09-06 17:16:48)
The acquisition of Roswell Village in Roswell, GA,
BizSpotlight: Revesco Properties Trust
BizSpotlight: Revesco Properties Trust
The acquisition of Roswell Village in Roswell, GA,
The acquisition of Roswell Village in Roswell, GA, Read MoreBizjournals.com Feed (2022-04-02 21:43:57)
The acquisition of Roswell Village in Roswell, GA,
Bowling alley closures are piling up. Many are being forced to pick a lane.
Bowling alley closures are piling up. Many are being forced to pick a lane.
The industry is getting knocked down by several factors — and real estate development is a big part of the equation.
The industry is getting knocked down by several factors — and real estate development is a big part of the equation. Read MoreBizjournals.com Feed (2022-04-02 21:43:57)
The industry is getting knocked down by several factors — and real estate development is a big part of the equation.
Bowling alley closures are piling up. Many are being forced to pick a lane.
Bowling alley closures are piling up. Many are being forced to pick a lane.
The industry is getting knocked down by several factors — and real estate development is a big part of the equation.
The industry is getting knocked down by several factors — and real estate development is a big part of the equation. Read MoreBizjournals.com Feed (2019-09-06 17:16:48)
The industry is getting knocked down by several factors — and real estate development is a big part of the equation.
Historic Nashville Offices Up for Sale
Historic Nashville Offices Up for Sale
An office building built in 1904 between Nashville Yards and Lower Broadway is on the block. 810 Broadway, the 5-story 88,000-square-foot brick building has been revamped enough over the years to remain viable.
The asking price is $34 million. Crews Johnston, Charlie Gibson and George Mullowney are handling the sale for Cushman & Wakefield.
The Broadway building is recognizable by the red “Morgan & Morgan” sign on the outside. The law firm has long been the anchor tenant of the office building but will be relocating to a 19,500-square-foot space in One Nashville Place.
The seller’s agents suggest that a buyer could convert the building to an apartment, hotel or restaurant.
Nashville-based Magnolia Investment Partners owns the building. In 2021, the firm paid $16.5 million for the 0.4-acre site. The seller was an LBCW, which paid $11.36 million for the building in mid-2018. The building sold in 1982 for $665,000.
The post Historic Nashville Offices Up for Sale appeared first on Connect CRE.
An office building built in 1904 between Nashville Yards and Lower Broadway is on the block. 810 Broadway, the 5-story 88,000-square-foot brick building has been revamped enough over the years to remain viable. The asking price is $34 million. Crews Johnston, Charlie Gibson and George Mullowney are handling the sale for Cushman & Wakefield. The …
The post Historic Nashville Offices Up for Sale appeared first on Connect CRE. Read MoreAtlanta & Southeast Commercial Real Estate News
An office building built in 1904 between Nashville Yards and Lower Broadway is on the block. 810 Broadway, the 5-story 88,000-square-foot brick building has been revamped enough over the years to remain viable. The asking price is $34 million. Crews Johnston, Charlie Gibson and George Mullowney are handling the sale for Cushman & Wakefield. The …
The post Historic Nashville Offices Up for Sale appeared first on Connect CRE.
Town center project scores half-billion in financing, sets start date
Town center project scores half-billion in financing, sets start date
Town center project scores half-billion in financing, sets start date
Josh Green
Thu, 11/07/2024 – 08:12
Two and ½ years after it was announced, a mixed-use town center for Johns Creek is officially set to move forward, helmed by a development executive that helped lead Avalon’s ground-up creation from abandoned fields, Colony Square’s revival, and Atlantic Station’s family-friendly turnaround.
The Medley project by Toro Development Company has secured $560 million in financing despite the headwinds of tough capital markets as U.S. banks remain on the sidelines, according to its developers.
The financial backing sets the stage for Medley’s groundbreaking, now planned for an unspecified date next month.
Medley’s phase one funding includes a $158 million construction loan from Mexico City-based Banco Inbursa and an equity investment from Denver-based real estate private equity firm Ascentris. According to TDC officials, it represents a deal in which foreign lenders are filling a financing vacuum created by reticent stateside banks, and it proves that projects dominated by retail can still be attractive to investors.
TDC heads likened the commercial real estate industry’s last two post-pandemic years to a “nuclear winter” of high borrowing costs and other hurdles.
“Medley represents one of the best suburban real estate sites in the country, and it serves a community that is lacking a ‘third place’ to gather with others,” TDC chief Mark Toro said in a Wednesday announcement.
“Our plan will completely transform a struggling, commodity office park into a walkable, urban oasis for Johns Creek,” Toro continued. “This is the kind of project the investment community is excited to hear about.”
Projected look of Medley’s repurposed office building, next to a standalone restaurant and central plaza. Courtesy of Toro Development Company
In other recent Medley news, the Johns Creek City Council unanimously approved plans last month for a 175-key Medley hotel that TDC hopes will replicate the success of Avalon’s hospitality component.
That’s expected to be one pillar of the 43-acre venture TDC is developing at the corner of McGinnis Ferry Road and Johns Creek Parkway.
TDC’s phase-one construction timeline now calls for a grand opening in late 2026.
Medley’s initial phase, beyond the hotel, is set to include roughly 180,000 square feet for retail, restaurant, and entertainment spaces, a 25,000-square-foot plaza, and 100,000 square feet of offices.
Residential plans call for 133 townhomes and 340 apartments in phase one.
The 43-acre Medley will be the first new section of Johns Creek’s Town Center concept. Toro Development Company; designs, Nelson Worldwide
How the 175-key boutique hotel is expected to relate to a Medley greenspace and retail. Courtesy of Toro Development Company
An existing four-story office building on site is also being renovated and woven into the master plan for a workplace TDC officials have called “commute-worthy.”
On the food front, Medley’s phase one will include the first suburban locations of Fadó Irish Pub and Little Rey, a Mexican concept by chef and restaurateur Ford Fry. Other announced tenants include CRÚ Food & Wine Bar, 26 Thai Kitchen and Bar, Five Daughters Bakery, Summit Coffee, Lily Sushi Bar, Knuckies Hoagies, Cookie Fix, Sugarcoat Beauty, BODY20, and AYA Medical Spa, among other concepts.
Eventually, Medley is expected to create 900 residences deemed luxury-grade (all townhomes and apartments), another 20,000 square feet of retail, and an Avalon-style central greenspace designed for community events and gatherings.
Plans call for hosting 200 events per year, ranging from live music and outdoor wellness classes to art festivals and watch parties, officials have said.
Eventually, Medley is planned to become just one facet of Johns Creek’s 192-acre Town Center, a blend of housing, hotels, offices, lakes, and greenspace about the size of Piedmont Park.
Courtesy of Toro Development Company
TDC completed the $44-million purchase of land needed to build Medley in March. The company previously razed an outdated, 350,000-square-foot office building to prep the site for construction.
Find more context and project images in the gallery above.
…
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Twitter / Facebook/and now: Instagram
• Johns Creek news, discussion (Urbanize Atlanta)
Projected look of Medley’s repurposed office building, next to a standalone restaurant and central plaza. Courtesy of Toro Development Company
The 43-acre Medley will be the first new section of Johns Creek’s Town Center concept. Toro Development Company; designs, Nelson Worldwide
Courtesy of Toro Development Company
Courtesy of Toro Development Company
Toro Development Company; designs, Nelson Worldwide
How the 175-key boutique hotel is expected to relate to a Medley greenspace and retail. Courtesy of Toro Development Company
The Medley site’s location in Johns Creek, in relation to Atlanta’s north OTP cities. Google Maps
Part of the 43-acre property, as seen along Johns Creek Parkway, while still actively used by State Farm in 2017. Google Maps
Overview of the Medley site’s two mid-rise office buildings formerly occupied by State Farm Insurance Co. The building at bottom is being incorporated into the new project. Google Maps
Town center project scores half-billion in financing, sets start date
Josh Green
Thu, 11/07/2024 – 08:12
Two and ½ years after it was announced, a mixed-use town center for Johns Creek is officially set to move forward, helmed by a development executive that helped lead Avalon’s ground-up creation from abandoned fields, Colony Square’s revival, and Atlantic Station’s family-friendly turnaround.
The Medley project by Toro Development Company has secured $560 million in financing despite the headwinds of tough capital markets as U.S. banks remain on the sidelines, according to its developers.
The financial backing sets the stage for Medley’s groundbreaking, now planned for an unspecified date next month.
Medley’s phase one funding includes a $158 million construction loan from Mexico City-based Banco Inbursa and an equity investment from Denver-based real estate private equity firm Ascentris. According to TDC officials, it represents a deal in which foreign lenders are filling a financing vacuum created by reticent stateside banks, and it proves that projects dominated by retail can still be attractive to investors.
TDC heads likened the commercial real estate industry’s last two post-pandemic years to a “nuclear winter” of high borrowing costs and other hurdles.
“Medley represents one of the best suburban real estate sites in the country, and it serves a community that is lacking a ‘third place’ to gather with others,” TDC chief Mark Toro said in a Wednesday announcement.
“Our plan will completely transform a struggling, commodity office park into a walkable, urban oasis for Johns Creek,” Toro continued. “This is the kind of project the investment community is excited to hear about.”
Projected look of Medley’s repurposed office building, next to a standalone restaurant and central plaza. Courtesy of Toro Development Company
In other recent Medley news, the Johns Creek City Council unanimously approved plans last month for a 175-key Medley hotel that TDC hopes will replicate the success of Avalon’s hospitality component.
That’s expected to be one pillar of the 43-acre venture TDC is developing at the corner of McGinnis Ferry Road and Johns Creek Parkway.
TDC’s phase-one construction timeline now calls for a grand opening in late 2026.
Medley’s initial phase, beyond the hotel, is set to include roughly 180,000 square feet for retail, restaurant, and entertainment spaces, a 25,000-square-foot plaza, and 100,000 square feet of offices.
Residential plans call for 133 townhomes and 340 apartments in phase one.
The 43-acre Medley will be the first new section of Johns Creek’s Town Center concept. Toro Development Company; designs, Nelson Worldwide
How the 175-key boutique hotel is expected to relate to a Medley greenspace and retail. Courtesy of Toro Development Company
An existing four-story office building on site is also being renovated and woven into the master plan for a workplace TDC officials have called “commute-worthy.”
On the food front, Medley’s phase one will include the first suburban locations of Fadó Irish Pub and Little Rey, a Mexican concept by chef and restaurateur Ford Fry. Other announced tenants include CRÚ Food & Wine Bar, 26 Thai Kitchen and Bar, Five Daughters Bakery, Summit Coffee, Lily Sushi Bar, Knuckies Hoagies, Cookie Fix, Sugarcoat Beauty, BODY20, and AYA Medical Spa, among other concepts.
Eventually, Medley is expected to create 900 residences deemed luxury-grade (all townhomes and apartments), another 20,000 square feet of retail, and an Avalon-style central greenspace designed for community events and gatherings.
Plans call for hosting 200 events per year, ranging from live music and outdoor wellness classes to art festivals and watch parties, officials have said.
Eventually, Medley is planned to become just one facet of Johns Creek’s 192-acre Town Center, a blend of housing, hotels, offices, lakes, and greenspace about the size of Piedmont Park.
Courtesy of Toro Development Company
TDC completed the $44-million purchase of land needed to build Medley in March. The company previously razed an outdated, 350,000-square-foot office building to prep the site for construction.
Find more context and project images in the gallery above.
…
Follow us on social media:
Twitter / Facebook/and now: Instagram
• Johns Creek news, discussion (Urbanize Atlanta)
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Projected look of Medley’s repurposed office building, next to a standalone restaurant and central plaza. Courtesy of Toro Development Company
The 43-acre Medley will be the first new section of Johns Creek’s Town Center concept. Toro Development Company; designs, Nelson Worldwide
Courtesy of Toro Development Company
Courtesy of Toro Development Company
Toro Development Company; designs, Nelson Worldwide
How the 175-key boutique hotel is expected to relate to a Medley greenspace and retail. Courtesy of Toro Development Company
The Medley site’s location in Johns Creek, in relation to Atlanta’s north OTP cities. Google Maps
Part of the 43-acre property, as seen along Johns Creek Parkway, while still actively used by State Farm in 2017. Google Maps
Overview of the Medley site’s two mid-rise office buildings formerly occupied by State Farm Insurance Co. The building at bottom is being incorporated into the new project. Google Maps
Subtitle
Developer: Mexico City bank helps fill vacuum to get Johns Creek’s Medley off the ground
Neighborhood
Johns Creek
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Associated Project
Medley
Before/After Images
Sponsored Post
Off Read More
Town center project scores half-billion in financing, sets start date
Josh Green
Thu, 11/07/2024 – 08:12
Two and ½ years after it was announced, a mixed-use town center for Johns Creek is officially set to move forward, helmed by a development executive that helped lead Avalon’s ground-up creation from abandoned fields, Colony Square’s revival, and Atlantic Station’s family-friendly turnaround.
The Medley project by Toro Development Company has secured $560 million in financing despite the headwinds of tough capital markets as U.S. banks remain on the sidelines, according to its developers.
The financial backing sets the stage for Medley’s groundbreaking, now planned for an unspecified date next month.
Medley’s phase one funding includes a $158 million construction loan from Mexico City-based Banco Inbursa and an equity investment from Denver-based real estate private equity firm Ascentris. According to TDC officials, it represents a deal in which foreign lenders are filling a financing vacuum created by reticent stateside banks, and it proves that projects dominated by retail can still be attractive to investors.
TDC heads likened the commercial real estate industry’s last two post-pandemic years to a “nuclear winter” of high borrowing costs and other hurdles.
“Medley represents one of the best suburban real estate sites in the country, and it serves a community that is lacking a ‘third place’ to gather with others,” TDC chief Mark Toro said in a Wednesday announcement.
“Our plan will completely transform a struggling, commodity office park into a walkable, urban oasis for Johns Creek,” Toro continued. “This is the kind of project the investment community is excited to hear about.”
Projected look of Medley’s repurposed office building, next to a standalone restaurant and central plaza. Courtesy of Toro Development Company
In other recent Medley news, the Johns Creek City Council unanimously approved plans last month for a 175-key Medley hotel that TDC hopes will replicate the success of Avalon’s hospitality component.
That’s expected to be one pillar of the 43-acre venture TDC is developing at the corner of McGinnis Ferry Road and Johns Creek Parkway.
TDC’s phase-one construction timeline now calls for a grand opening in late 2026.
Medley’s initial phase, beyond the hotel, is set to include roughly 180,000 square feet for retail, restaurant, and entertainment spaces, a 25,000-square-foot plaza, and 100,000 square feet of offices.
Residential plans call for 133 townhomes and 340 apartments in phase one.
The 43-acre Medley will be the first new section of Johns Creek’s Town Center concept. Toro Development Company; designs, Nelson Worldwide
How the 175-key boutique hotel is expected to relate to a Medley greenspace and retail. Courtesy of Toro Development Company
An existing four-story office building on site is also being renovated and woven into the master plan for a workplace TDC officials have called “commute-worthy.”
On the food front, Medley’s phase one will include the first suburban locations of Fadó Irish Pub and Little Rey, a Mexican concept by chef and restaurateur Ford Fry. Other announced tenants include CRÚ Food & Wine Bar, 26 Thai Kitchen and Bar, Five Daughters Bakery, Summit Coffee, Lily Sushi Bar, Knuckies Hoagies, Cookie Fix, Sugarcoat Beauty, BODY20, and AYA Medical Spa, among other concepts.
Eventually, Medley is expected to create 900 residences deemed luxury-grade (all townhomes and apartments), another 20,000 square feet of retail, and an Avalon-style central greenspace designed for community events and gatherings.
Plans call for hosting 200 events per year, ranging from live music and outdoor wellness classes to art festivals and watch parties, officials have said.
Eventually, Medley is planned to become just one facet of Johns Creek’s 192-acre Town Center, a blend of housing, hotels, offices, lakes, and greenspace about the size of Piedmont Park.
Courtesy of Toro Development Company
TDC completed the $44-million purchase of land needed to build Medley in March. The company previously razed an outdated, 350,000-square-foot office building to prep the site for construction.
Find more context and project images in the gallery above.
…
Follow us on social media:
Twitter / Facebook/and now: Instagram
• Johns Creek news, discussion (Urbanize Atlanta)
Tags
11650 Johns Creek Parkway
Medley
The Hotel at Medley
Town Center
Toro Development Company
Mixed-Use Development
Alpharetta
Johns Creek Parkway McGinnis Ferry
Avalon
Colony Square
TDC
U.S. Realty Advisors
Third Place
Fulton County
Town Center Vision and Plan
State Farm
State Farm Insurance Co.
OTP
Atlanta Development
Atlanta Suburbs
Mark Toro
Kimley-Horn & Associates
Boston Scientific
Franklin Street
Stream Managing
Nelson Worldwide
Site Solutions
Johns Creek City Council
Johns Creek Town Center Vision and Plan
Johns Creek City Hall
Creekside Park
Adaptive-Reuse
Adaptive-Reuse Development
Little Rey
Fadó Irish Pub
Banco Inbursa
Mexico City
Ascentris
Images
Projected look of Medley’s repurposed office building, next to a standalone restaurant and central plaza. Courtesy of Toro Development Company
The 43-acre Medley will be the first new section of Johns Creek’s Town Center concept. Toro Development Company; designs, Nelson Worldwide
Courtesy of Toro Development Company
Courtesy of Toro Development Company
Toro Development Company; designs, Nelson Worldwide
How the 175-key boutique hotel is expected to relate to a Medley greenspace and retail. Courtesy of Toro Development Company
The Medley site’s location in Johns Creek, in relation to Atlanta’s north OTP cities. Google Maps
Part of the 43-acre property, as seen along Johns Creek Parkway, while still actively used by State Farm in 2017. Google Maps
Overview of the Medley site’s two mid-rise office buildings formerly occupied by State Farm Insurance Co. The building at bottom is being incorporated into the new project. Google Maps
Subtitle
Developer: Mexico City bank helps fill vacuum to get Johns Creek’s Medley off the ground
Neighborhood
Johns Creek
Background Image
Image
Associated Project
Medley
Before/After Images
Sponsored Post
Off
Efforts to expand transit in Cobb, Gwinnett counties are D.O.A.
Efforts to expand transit in Cobb, Gwinnett counties are D.O.A.
Efforts to expand transit in Cobb, Gwinnett counties are D.O.A.
Josh Green
Wed, 11/06/2024 – 16:29
Alternate transportation supporters of metro Atlanta suffered a two-pronged setback on Election Tuesday that echoed similar transit rejections of years and decades past.
Measures that would have introduced new tax-funded bus and shuttle options in both Cobb and Gwinnett counties were rejected by voters in Georgia’s quickly growing second and third-most populated counties, respectively.
The stiff-arm from voters was strongest in Cobb County, where a proposed 1 percent sales tax increase to beef up rapid bus and shuttle transportation over the next three decades suffered a 62.3 percent to 37.6 percent defeat.
Georgia Secretary of State Office data show nearly 240,000 voters in Cobb rejected the Mobility Special Purpose Local Option Sales Tax, or MSPLOST.
Cobb transportation officials had estimated the sales tax bump would have generated more than $10 billion over 30 years to expand high-capacity bus transit and operations, creating an estimated 100 miles worth of new lines between key destinations such as The Battery Atlanta, Kennesaw State University, and Six Flags Over Georgia, among other activity hubs.
In Gwinnett, it was a much closer—but still unsuccessful—transportation vote.
Roughly 53 percent of Gwinnett voters said “no” to another 1 percent sales tax mechanism—a Transportation Special Purpose Local Option Sales Tax, or TSPLOST—that could have created an estimated $17 billion in transit funding over 30 years.
The Gwinnett County Board of Commissioners in June voted 4-1 in favor of placing the transit referendum on the Nov. 5 General Election ballot. According to county leadership, the estimated $17 billion culled from consumer spending in Gwinnett would have funded up to 75 transit projects around the county, with an emphasis on expanding bus and microtransit options. But it would not have included MARTA expansion or heavy rail in any capacity.
Ride Gwinnett’s proposed transit service diagram that won’t be SPLOST-funded. Ride Gwinnett
Highlights of the plan called for: expanded microtransit across the county by 2033; express bus routes from Snellville in southeast Gwinnett and Mall of Georgia in the far north to Atlanta’s airport; a BRT line between Doraville’s MARTA station and Lawrenceville, the county seat, and high-frequency buses elsewhere; plus additional, modernized transfer facilities throughout Gwinnett.
Like Cobb, the rejection continues Gwinnett’s track record with tax-funded, transit-expansion proposals.
Four rejections of proposed MARTA expansions in Gwinnett date back to 1971 and 1990, in addition to two more recent failed efforts, in both 2019 and 2020. The latter, a $12 billion plan, was rejected by a razor-thin margin.
Transit supporters had hoped Gwinnett’s status as a vastly different place these days—with three times the population as the early 1990s and a shift in politics and identity from suburban conservative to more progressive and globally diverse—would push the latest transit efforts over the finish line, but such was not the case.
Which begs the question: Now what?
…
Follow us on social media:
Twitter / Facebook/and now: Instagram
• Introducing ‘ATL Trains’: A revolutionary approach to Atlanta transit? (Urbanize Atlanta)
Ride Gwinnett’s proposed transit service diagram that won’t be SPLOST-funded. Ride Gwinnett
Efforts to expand transit in Cobb, Gwinnett counties are D.O.A.
Josh Green
Wed, 11/06/2024 – 16:29
Alternate transportation supporters of metro Atlanta suffered a two-pronged setback on Election Tuesday that echoed similar transit rejections of years and decades past.
Measures that would have introduced new tax-funded bus and shuttle options in both Cobb and Gwinnett counties were rejected by voters in Georgia’s quickly growing second and third-most populated counties, respectively.
The stiff-arm from voters was strongest in Cobb County, where a proposed 1 percent sales tax increase to beef up rapid bus and shuttle transportation over the next three decades suffered a 62.3 percent to 37.6 percent defeat.
Georgia Secretary of State Office data show nearly 240,000 voters in Cobb rejected the Mobility Special Purpose Local Option Sales Tax, or MSPLOST.
Cobb transportation officials had estimated the sales tax bump would have generated more than $10 billion over 30 years to expand high-capacity bus transit and operations, creating an estimated 100 miles worth of new lines between key destinations such as The Battery Atlanta, Kennesaw State University, and Six Flags Over Georgia, among other activity hubs.
In Gwinnett, it was a much closer—but still unsuccessful—transportation vote.
Roughly 53 percent of Gwinnett voters said “no” to another 1 percent sales tax mechanism—a Transportation Special Purpose Local Option Sales Tax, or TSPLOST—that could have created an estimated $17 billion in transit funding over 30 years.
The Gwinnett County Board of Commissioners in June voted 4-1 in favor of placing the transit referendum on the Nov. 5 General Election ballot. According to county leadership, the estimated $17 billion culled from consumer spending in Gwinnett would have funded up to 75 transit projects around the county, with an emphasis on expanding bus and microtransit options. But it would not have included MARTA expansion or heavy rail in any capacity.
Ride Gwinnett’s proposed transit service diagram that won’t be SPLOST-funded. Ride Gwinnett
Highlights of the plan called for: expanded microtransit across the county by 2033; express bus routes from Snellville in southeast Gwinnett and Mall of Georgia in the far north to Atlanta’s airport; a BRT line between Doraville’s MARTA station and Lawrenceville, the county seat, and high-frequency buses elsewhere; plus additional, modernized transfer facilities throughout Gwinnett.
Like Cobb, the rejection continues Gwinnett’s track record with tax-funded, transit-expansion proposals.
Four rejections of proposed MARTA expansions in Gwinnett date back to 1971 and 1990, in addition to two more recent failed efforts, in both 2019 and 2020. The latter, a $12 billion plan, was rejected by a razor-thin margin.
Transit supporters had hoped Gwinnett’s status as a vastly different place these days—with three times the population as the early 1990s and a shift in politics and identity from suburban conservative to more progressive and globally diverse—would push the latest transit efforts over the finish line, but such was not the case.
Which begs the question: Now what?
…
Follow us on social media:
Twitter / Facebook/and now: Instagram
• Introducing ‘ATL Trains’: A revolutionary approach to Atlanta transit? (Urbanize Atlanta)
Tags
Atlanta Transit
Cobb County
Gwinnett County
Atlanta Suburbs
Bus Transit
Gwinnett County News
Gwinnett County Transit
TSPLOST
SPLOST
Alternate Transportation
Alternative Transportation
Cobb County News
Cobb County Transportation
BRT
Bus Rapid Transit
Microtransit
Shuttle buses
Shuttles
Images
Ride Gwinnett’s proposed transit service diagram that won’t be SPLOST-funded. Ride Gwinnett
Subtitle
Now what?
Neighborhood
OTP
Background Image
Image
Before/After Images
Sponsored Post
Off Read More
Efforts to expand transit in Cobb, Gwinnett counties are D.O.A.
Josh Green
Wed, 11/06/2024 – 16:29
Alternate transportation supporters of metro Atlanta suffered a two-pronged setback on Election Tuesday that echoed similar transit rejections of years and decades past.
Measures that would have introduced new tax-funded bus and shuttle options in both Cobb and Gwinnett counties were rejected by voters in Georgia’s quickly growing second and third-most populated counties, respectively.
The stiff-arm from voters was strongest in Cobb County, where a proposed 1 percent sales tax increase to beef up rapid bus and shuttle transportation over the next three decades suffered a 62.3 percent to 37.6 percent defeat.
Georgia Secretary of State Office data show nearly 240,000 voters in Cobb rejected the Mobility Special Purpose Local Option Sales Tax, or MSPLOST.
Cobb transportation officials had estimated the sales tax bump would have generated more than $10 billion over 30 years to expand high-capacity bus transit and operations, creating an estimated 100 miles worth of new lines between key destinations such as The Battery Atlanta, Kennesaw State University, and Six Flags Over Georgia, among other activity hubs.
In Gwinnett, it was a much closer—but still unsuccessful—transportation vote.
Roughly 53 percent of Gwinnett voters said “no” to another 1 percent sales tax mechanism—a Transportation Special Purpose Local Option Sales Tax, or TSPLOST—that could have created an estimated $17 billion in transit funding over 30 years.
The Gwinnett County Board of Commissioners in June voted 4-1 in favor of placing the transit referendum on the Nov. 5 General Election ballot. According to county leadership, the estimated $17 billion culled from consumer spending in Gwinnett would have funded up to 75 transit projects around the county, with an emphasis on expanding bus and microtransit options. But it would not have included MARTA expansion or heavy rail in any capacity.
Ride Gwinnett’s proposed transit service diagram that won’t be SPLOST-funded. Ride Gwinnett
Highlights of the plan called for: expanded microtransit across the county by 2033; express bus routes from Snellville in southeast Gwinnett and Mall of Georgia in the far north to Atlanta’s airport; a BRT line between Doraville’s MARTA station and Lawrenceville, the county seat, and high-frequency buses elsewhere; plus additional, modernized transfer facilities throughout Gwinnett.
Like Cobb, the rejection continues Gwinnett’s track record with tax-funded, transit-expansion proposals.
Four rejections of proposed MARTA expansions in Gwinnett date back to 1971 and 1990, in addition to two more recent failed efforts, in both 2019 and 2020. The latter, a $12 billion plan, was rejected by a razor-thin margin.
Transit supporters had hoped Gwinnett’s status as a vastly different place these days—with three times the population as the early 1990s and a shift in politics and identity from suburban conservative to more progressive and globally diverse—would push the latest transit efforts over the finish line, but such was not the case.
Which begs the question: Now what?
…
Follow us on social media:
Twitter / Facebook/and now: Instagram
• Introducing ‘ATL Trains’: A revolutionary approach to Atlanta transit? (Urbanize Atlanta)
Tags
Atlanta Transit
Cobb County
Gwinnett County
Atlanta Suburbs
Bus Transit
Gwinnett County News
Gwinnett County Transit
TSPLOST
SPLOST
Alternate Transportation
Alternative Transportation
Cobb County News
Cobb County Transportation
BRT
Bus Rapid Transit
Microtransit
Shuttle buses
Shuttles
Images
Ride Gwinnett’s proposed transit service diagram that won’t be SPLOST-funded. Ride Gwinnett
Subtitle
Now what?
Neighborhood
OTP
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Before/After Images
Sponsored Post
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Landmark Properties files more plans for Midtown student housing tower near The Varsity
Landmark Properties files more plans for Midtown student housing tower near The Varsity
The student housing tower in Midtown would feature 2,000 beds.
The student housing tower in Midtown would feature 2,000 beds. Read MoreBizjournals.com Feed (2019-09-06 17:16:48)
The student housing tower in Midtown would feature 2,000 beds.
Landmark Properties files more plans for Midtown student housing tower near The Varsity
Landmark Properties files more plans for Midtown student housing tower near The Varsity
The student housing tower in Midtown would feature 2,000 beds.
The student housing tower in Midtown would feature 2,000 beds. Read MoreBizjournals.com Feed (2022-04-02 21:43:57)
The student housing tower in Midtown would feature 2,000 beds.