The Atlanta Highrise Boom!

[teshadoh]

I think the source (which again, was another ATL forummer that no longer posts here) did mention that most were in the height range of 20 to 40. But still - I agree with Celeste's statements, much of Downtown & Midtown contains a large amount of developable space - which does keep prices down. Which also means there can be more developed in the future. Gone are the heady days of the 1980's when skyscapers were built tall, just for the sake of being tall. Development in Atlanta has gotten much smarter in the past 5 years, we're seeing more substaining developments that use space more efficiently.

Rather optimistic about this all

[Martinman]

Not sure if this has been posted here but

The prolific Novare group is now in a joint venture with Pope and Land to develop ACP phase III. (not sure if this will still be the name of the project) Also, someone "in the know" said he heard that it will be 60 stories.

[Lady Celeste]

Not sure if this has been posted here but

The prolific Novare group is now in a joint venture with Pope and Land to develop ACP phase III.  (not sure if this will still be the name of the project)  Also, someone in the know has heard that it will be 60 stories.

<{POST_SNAPBACK}>

Will that be 60 stories for the residentail component of this mixed use development or for the office component. I ask because this development would be on the southwest corner of 14th St @ West Peachtree St. If I'm not mistaken....and I could be.....the elevation of that parcel is slightly higher than the northeast corner....home to the venerable and iconic One Atlantic Center building. I would say about 20' at the most southern part. This building, if office space would be equal to or greater in height than OAC. That would be a mistake because I feel the IBM tower (OAC) should not be minimalized in such a manner. To me it would be a mistake.

If it is to be built with 60 stories, I truly hope that Novare and Pope and Land take special care to commission the best architect for the design. Residential or not. Such a corner, in such a location, across from such an Atlanta icon will have to be monumental in it's own way.....and by all means not of the post modern design. The OAC is a fine example of post modern design but the mini-me across W Peachtree is a lame attempt to time into the timeless design of the OAC.

If it looks less than iconic itself it will detract from the very beautiful midtown skyline.

[Martinman]

Will that be 60 stories for the residentail component of this mixed use development or for the office component. I ask because this development would be on the southwest corner of 14th St @ West Peachtree St. If I'm not mistaken....and I could be.....the elevation of that parcel is slightly higher than the northeast corner....home to the venerable and iconic One Atlantic Center building. I would say about 20' at the most southern part. This building, if office space would be equal to or greater in height than OAC. That would be a mistake because I feel the IBM tower (OAC) should not be minimalized in such a manner. To me it would be a mistake.

If it is to be built with 60 stories, I truly hope that Novare and Pope and Land take special care to commission the best architect for the design. Residential or not. Such a corner, in such a location, across from such an Atlanta icon will have to be monumental in it's own way.....and by all means not of the post modern design. The OAC is a fine example of post modern design but the mini-me across W Peachtree is a lame attempt to time into the timeless design of the OAC.

[Martinman]

Two new towers on tap both by out of town developers

First a rumor of a Midtown tower call Aqua (why?) next to Plaza Midtown at 10th and west peachtree. Will be more high end than anything currently in MIdtown with ~24 floors and only 2 units per floor.

And second yet another Buckhead proposal with 124 "top-shelf" hotel rooms and 35 exclusive residential units.

The Mansion on Peachtree

[ironchapman]

^That one looks beautiful. I like the addition of greenery on top of the setbacks.

How tall would you guess it would be?

[Newnan]

The drawing looks make the building look very tall. I would say maybe 200 feet. I might be wrong though

[Lady Celeste]

I agree with Ironchapman, that is a very fine rendering.

Ironchapman I would guess that that building....and this is only from eyeing it....is in the range of the Paramount in Buckhead. Maybe a tad bit shorter.

As far as the Aqua, I wonder exactly where next to Plaza Midtown it will be located. I sure hope they soon get rid of the Cheetah.

[ironchapman]

I agree with Ironchapman, that is a very fine rendering.

Ironchapman I would guess that that building....and this is only from eyeing it....is in the range of the Paramount in Buckhead. Maybe a tad bit shorter.

<{POST_SNAPBACK}>

That was pretty much my guess, somewhere in the 450-475 ft. range.

[Newnan]

You're probably right

[Martinman]

Aqua is no longer just a rumor. These guys really know what they're talking about

I was wrong about the developers being from out of town though. Turns out City Center properties(The Mansion) is a new company started by John Williams (formerly of Post).

-an 84-unit luxury condominium on the southwest corner of West Peachtree and 10th streets

-all units in Aqua will have direct access by elevator

-averaging 1,800 square feet, from around $250,000

http://www.ajc.com/news/content/business/0...5bizcondos.html

And here's the website for info on "The Mansion on Peachtree"

http://host373.ipowerweb.com/~citycent/pro...ies_atlanta.htm

[ironchapman]

Two new towers on tap both by out of town developers

First a rumor of a Midtown tower call Aqua (why?)

<{POST_SNAPBACK}>

Aqua may be named from the Georgia Aquarium (aqua=water and the GA Aquarium is full of that)

BTW: How do you get so much info, Martinman? Do you just do your homework, or do you have a job that would allow you access to this info or something?

[Martinman]

Aqua may be named from the Georgia Aquarium (aqua=water and the GA Aquarium is full of that)

BTW: How do you get so much info, Martinman? Do you just do your homework, or do you have a job that would allow you access to this info or something?

<{POST_SNAPBACK}>

Just by reading and hearing from others who actually do have some inside info. As you can see its all the info is on the internet.

[Lady Celeste]

Very Very good information about Aqua!

A 24-story luxury condominium tower with a flavor of Florida and the name "Aqua" is being proposed for Midtown.

The southwestern corner of 10th and W Peachtree is cattycorner to the Millenium Midtown right? Although it's only 24 stories, it sits about 20 feet higher than Plaza Midtown. This will definitely add dimension to the mid-midtown skyline. It will also add more people along 10th st. How exciting....especially for the soon to be opened Publix in Plaza Midtown. This places even more partons in a short walk from the grocer.

What I like about this complex is the fact that their units are larger. While I like Novare and appreciate the work that they do, their units are a wee bit small. This will broaden the condo market in midtown. Hats off to Leventhal. At 29 I am really impressed by his ambition.

Now can we get rid of that hugh radio tower. It's sooooooooo big.

[Lady Celeste]

The Buckhead Explosion!

So let me get this right..........

This building.......

The Mansion on Peachtree

Peachtree Rd at Strafford, across from the Westin Buckhead and next to Dante's.

and this building.......

Terminus

Peachtree Rd at Piedmont

and this building.......

3344 Peachtree

Right across from the Atlanta Financial Center

and this building......

The Realm

Next to the Grand Hyatt and across from the Intercontinental Hotel.

Are all going to be under construction within the next 6 months. This is alot of real estate being constructed in what equates to about a fouth of a mile of road. All I can say is WOW!

Location in Buckhead

Here is a map of area in question. All these buildings are being built on the north side of Peachtree between Piedmont and Strafford Rd.

[ironchapman]

Of course, tall buildings do not always a city make.

Terminus

<{POST_SNAPBACK}>

Look at the size of that street^

Buckhead could stand to be more urban friendly.

[Lady Celeste]

Well I really wasn't going for the size of the buildings but rather how dense that stretch of Peachtree has become. Also one must consider the millions and millions of dollars being privately invested into that stretch of street. That is enough to make you say wow....regardless of how tall the buildings are......it's the amount of private investment and also the number of residences being added to Buckhead.

On the point of Peachtree Rd, you do realize that construction is going to start soon on realigning the street to be more pedestrian friendly. I will try to find the website that address this.....from what I have been hearing it's called Peachtree Blvd.....because Boulevard has a totally different connotation than Road. I was on Peachtree Rd today and I must say that traffic was less than desirable. The ride from West Paces Ferry to Lenox Rd was maddening.....but I did see the BUC and people were riding it.

[Martinman]

Here's a link to Rosewood hotels and their very "top shelf" hotels.

http://rosewoodhotels.com/hotels.cfm

[peaceloveunderstanding]

wow, buckhead is getting even more development? When I visited it was a madhouse. Looks awesome.

Still, if I were to live in Buckhead, I would live in the Buckhead Grand (or whatever that building is with the pointy roof).

[atlmangum]

I've been hearing some rumors that Terminus in Buckhead is only 25 stories. Well, that is not true. If you go to the official Terminus website:

http://www.terminus-atlanta.com/dest_floorplans.html

and actually count the floorplan, you'll see that the last 6 or so floors are not in use, put actually make up the top of the building. So while the building is to have 25 "usable" floors, it will still be around 31 stories high. Let me know if y'all agree.

[designspace]

I'm thinking of relocating from NYC to Atlanta, and as an outsider, I'm just beginning to learn about the Atlanta real estate market. My main concern is whether the local condo market is strong enough to support all of this development... Obviously the developers think so, but what's the word on the street? Will these projects create a situation with excess inventory?

[atlla]

I've been hearing some rumors that Terminus in Buckhead is only 25 stories. Well, that is not true. If you go to the official Terminus website:

http://www.terminus-atlanta.com/dest_floorplans.html

and actually count the floorplan, you'll see that the last 6 or so floors are not in use, put actually make up the top of the building. So while the building is to have 25 "usable" floors, it will still be around 31 stories high. Let me know if y'all agree.

That is correct. There is also a better rendering of Realm on their website.

[atlla]

Two new towers on tap both by out of town developers

First a rumor of a Midtown tower call Aqua (why?) next to Plaza Midtown at 10th and west peachtree. Will be more high end than anything currently in MIdtown with ~24 floors and only 2 units per floor.

And second yet another Buckhead proposal with 124 "top-shelf" hotel rooms and 35 exclusive residential units.

The Mansion on Peachtree

This is going to be 45 stories

[teshadoh]

I'm thinking of relocating from NYC to Atlanta, and as an outsider, I'm just beginning to learn about the Atlanta real estate market. My main concern is whether the local condo market is strong enough to support all of this development... Obviously the developers think so, but what's the word on the street? Will these projects create a situation with excess inventory?

Someone with a really good view on that is an SSP forummer called (404), he is a condo realtor. But the jist is this - there has been & will continue to be an excess of condos. But so many buyers are investors, that most of these units are bought & then sold shortly afterwards. Also, there are a large amount of condos for sale at any given time, but at the same time there is a relatively equal number of units being purchased.

I admit that I don't quite understand it. Another person to chat to here would be Lady Celeste, also a realtor.

[Lady Celeste]

Teshadoh, you actually summed it up very well. There are many condos for sale in the $300,000 to $700,000 range. I have been out of the field for a few months due to a pregnancy but I have followed the intown condo market extensively.

I am seeing two things....one being flipping.

Like Teshadoh said, this is where investors are first in line to buy units in a building. The idea is to make a building appear to be the in place. People hear about it but when they go to purchase, they find the building sold out...i.e, The Spire. The purchaser, wanting to be in said building, will eventually find out about the 2 bedroom, 2 bath southern exposure unit that came on the market recently. The investor sales the unit at a 10% to 15% or more markup thereby making a profit off of the property. This investor will then go to another building with cash and bolstered credit standing in hand to purchase their next unit.....thereby fueling demand for more condos.

The second I see going on (which is problably the purchaser of the investor's unit) is building hopping.

Here you have usually singles who may have bought in a building....lets say The Mayfair. It's a 90's building and was very suitable to intown living. However there is a new building being built a few streets down called the Metropolis and everybody is talking about how innovative this building will be. Although it's not the newest building like the Spire, it's newer than what they had. Well not to be left out, this purchaser has to buy in said building so they move to the newest and latest thing.....thereby fueling demand for more condos.

Right now I feel that Atlanta's intown condo market is in a relatively safe position because of three things.

1) Low interest rates

2) High interest in living intown

3) A growing overall population

If one of these three things (especially 1 and 2) change dramatically then you could start to see signs of a build up in inventory. Right now the only one changing is the interest rate. It is still historically low and affords many the option of purchasing intown condos. Many investors are also bullish on intown Atlanta living. This should keep the market strong for some time to come. Right now I have not seen any appreciable slowdown on condo sales. I have although seen certain price ranges that do better Buckhead that may lag in midtown.....but that comes from the developer not understanding their market.