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Giarattana Development Buys property in Sobro


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They're developers. It's what they do. I'd say his best interests are much like those of anyone else: for himself and his company first, and if he can help his community, so much the better. For reasons beyond my comprehension, those goals are sometimes at odds with each other. Tom Cousins, who anyone could argue loves his hometown, nevertheless proceeded to destroy Atlanta's Union Station and other architectural gems downtown.

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^ tony must be laughing at how they'll print anything that comes out of his mouth. "surface parking until we do apartments, hotel, condos, office and/or parking with ground floor retail"...what else could possibly go there ?

the city's current codes require landscaping and water quality standards that make building a new lot expensive. gone are the days of just paving everything over like his signature lot on church. since it takes a couple years to recover these costs from parking revenue i doubt he'd spend this money if he expected to rip it up in only 12-18 months.

i have also heard that he paid close to $200/sf for this property. that would be about triple the going rate down in sobro and rank right up there with what he shelled out for the signature property. here we go again ? many have wondered why tony needed to do such a big building on such a small site with signature. paying too much for the land is how it starts. get ready for the request of a height variance and tif funds.

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OK, I have to ask the question.... What good is this board if it's not used for the generation of credible rumors? Aren't there some details that have come out of the latest rumor? I'd wonder how soon Mr. Giarratana would intend to get this project off the ground because we've seen the condo market hit the skids, but apparently apartments are bringing in top dollar in southeastern cities.

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