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athenahealth to Create 500 new jobs at Ponce City Market in Midtown Atlanta

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athenahealth signs at Ponce City MarketATLANTA (AP) — A health care information technology company is planning to create 500 jobs in Atlanta, officials announced Monday.

Georgia Gov. Nathan Deal said athenahealth is making a $10.8 investment as part of its expansion and plans to occupy 75,000 square feet of Ponce City Market in Midtown Atlanta.

The Watertown, Mass.-based company is the first major office tenant to announce development plans at Ponce City Market — a mixed-use space formerly known as City Hall East.

Founded in 1997, athenahealth specializes in managing cloud-based electronic health records, practice management and care coordination. The company works with more than 40,000 clients across the country and was named by Forbes as one of the country’s 25 fastest-growing technology companies.

The company currently employs more than 140 people in the greater Atlanta suburb of Alpharetta and plans to move those employees to its Atlanta location. The company plans to hire the new employees within the next five years.

“Ponce City Market offers athenahealth everything we could ask for in an office space as we deepen our roots in Atlanta and presents us with the opportunity to provide a daily environment that lives up to the work-life aspirations of our company,” athenahealth CEOJonathan Bush said in a statement. “With hundreds more future athenistas to hire, we believe Ponce City Market will help us attract the best talent metro Atlanta has to offer.”

athenahealth employees that are relocating to the Midtown Atlanta area will have some great living opportunities In Midtown Atlanta and the surrounding area. From high-rise condominiums to bungalows in Virginia-Highlands, homes range from new and modern to classic and historic.

We look forward to welcoming the employees of athenahealth to Midtown Atlanta!  If you are looking for a place to call home after work at Ponce City Market, give me a call! I’d be delighted to show you the neighborhood!

The map below shows the location of Ponce City Market in Midtown Atlanta.

Ponce City Market Map

Viewpoint Midtown Atlanta To Get Retail Enhancements and New Neighbor

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Retail Space on Peachtree Street Midtown AtlantaEarlier this week, I attended the Design Review Committee (DRC) Meeting of the Midtown Alliance. This group is the first stopping point for developers looking to bring new projects or make major modifications to existing ones. In my past involvement with the Midtown Neighbors’ Association Board (we additionally reviewed projects but after they had cleared the DRC) projects could see minor, or major changes based on the input of the DRC.

Last night, there was a resounding “YES” to some changes proposed to the street level retail portion of Viewpoint Midtown and a new neighbor as well!

Viewpoint Midtown Atlanta To Get Retail Enhancements and New Neighbor

 

The combination of residential and retail in a condo building is an interesting mix. In the case of Viewpoint, Robin Loudermilk of Loudermilk  Companies bought out the retail portion of the Viewpoint Midtown condo building. Loudermilk already owned the corner of 7th and Peachtree where the current Starbucks is located.

Loudermilk’s creative (and very well received plan) integrates a new 8- story boutique apartment building on the corner of 7th and Peachtree, along with a new face to the Viewpoint retail space, which basically stretches the entire block to 6th Street. Further, the plans show retail space opening up in Viewpoint on the 6th Street side that is virtually hidden behind a wall at the present time.

One great thing about this plan, is the better accessibility and visibility that will offered to the yet-to-be-leased 2nd Floor retail on the southern part of the building. Access to this area will still be enhanced with an elevator and/or stairs off the newly created parking courtyard on 6th street.

Viewpoint Midtown Retail Upgrades

Starbucks 7th and Peachtree Street Midtown AtlantaBack on the 7th and Peachtree Street corner…never fear Starbuck’s addicts! Starbucks will RETURN to the new apartment building on the front corner, first floor. During construction of the new building, Starbuck’s will temporarily locate in some of the vacant Viewpoint retail space. The plan calls for some creative connectivity of the existing Viewpoint Parking deck (to be used by the apartment building) and the under construction 100 6th Street Apartments parking deck which will be located along  7th and Juniper Streets.

This project appears to be on a fast track indeed. Midtown residents may remember the historic brick building that was just demolished? When that demolition was underway, Loudermilk said they did not yet know what they were going to do with the site. The plans presented at the DRC were very preliminary, and they expect to be back next month with more formal plans to present.

So what’s the win-win here?

  • New construction on Peachtree Street that will offer more (yes, MORE) apartments, but in a 2 and 3 bedroom layout
  • A somewhat low rise building (only 8 stories) that will not hinder ANY views from the current Viewpoint Tower
  • A new Starbucks that will utilize saved construction materials from the demolished building
  • A much needed “freshening” of the Viewpoint Retail space that will make it more inviting for retailers and shoppers alike

Stay tuned as this new Midtown Atlanta project launches!

Viewpoint Midtown to Get New Neighbor Apartment Building

Where is Main Street in Atlanta? Do You Know?

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Where Is Main Street in Atlanta GAIf you’ve lived in Atlanta for more than a week, you know that Atlanta is all about naming streets Peachtree Something.

But, Where is Main Street in Atlanta? Do You Know?

The street naming in Atlanta gets downright confusing….are we on Peachtree Street, Peachtree Road, Peachtree Industrial Blvd, or Peachtree Parkway? (That is how many times Peachtree Street, leaving Downtown Atlanta changes names as it heads North all the way to Cumming!)

So, I’m going through a Google Alert (stick we me on this train of thought so you can see how I got here….) The Alert leads me to a post about a GATech fraternity that’s in trouble, to health scores on restaurants, that leads me to a post at Midtown Patch about a perfect score for Five Guys Burgers. Ok, I’m thinking the location at Spire Midtown Atlanta. But no, they reference the “Main Street Five Guys Burgers and Fries located just north of Midtown.”

But Where is Main Street, Just North of Midtown?

Well, a couple of clicks later…I found it. It’s the Five Guys Burgers located at Lindbergh Center and the Lindbergh MARTA Station. WOW! Really? It took me some 3- 5 clicks to find something I should of found on the FIRST post, if they would of called it Five Guys Burgers Lindbergh Center.

In real estate, I often see a  s-t-r-e-t-c-h in describing where a home may be located. But, in reality, if you just say where it ACTUALLY is located, you will probably be much further ahead in people finding your home For Sale or your burger restaurant.

Ten 10th Street Faces Loan Troubles

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Ten 10th Street Loan Facing DefaultWhile we all like to hear good news, it’s important to keep it all in perspective. And loan problems are not just faced by residential home owners. Commercial properties have their challenges too.

The Atlanta Business Chronicle reported this week that Ten 10th Street has a $71.4 Million loan secured by the 13-story building, known as Millennium in Midtown (I don’ t think I ever knew that was the name of it!) which has been transferred to mortgage servicing .

The building faces financial challenges after it lost its anchor tenant, PricewaterhouseCoopers, LLP to 1075 Peachtree (12th and Midtown). The story says it will take up to $7 Million to release the space! Yikes!

Another prominent tenant is Google which occupies 32,000 sq ft. on a lease that is set to expire in 2013.

The building was built ten years ago, banking on office space demand for the telecom boom. When PricewaterhouseCoopers moved 800+ people in then, it was a deal that gave Midtown a boost. And it looks like it needs another boost.

Ten 10th Street is located at the corner of 10th and West Peachtree Streets, across from Aqua Condominiums.

YES! New Cranes in Midtown Atlanta!

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Yes, you heard that right! There are new construction cranes in Midtown Atlanta! A welcome sight for a troubled economy indeed!

Hilton Homewood Suites Midtown AtlantaOne of those Midtown Atlanta construction cranes is at 10th and Williams Street (Or the Downtown Connector) where the new Hilton Garden Inn/Homewood Suites hotel is under construction!  What a beautiful building that will be to visitors arriving into Midtown via the 10th Street Bridge! It’s convenient to all the Midtown Atlanta law offices, and to Turner Broadcast Systems (TBS) and the new GATech Basketball stadium!

Construction Cranes are also appearing on the Midtown Atlanta skyline at two new luxury high-rise apartment buildings that have broken ground. Ironically, they are BOTH on 12th street…if you can imagine that! One is part of the 12th and Midtown Development where 1010 Midtown is located. The second, located at 12th and West Peachtree has also just broken ground. The race would appear to be “on” as to who will finish first and have the first shot at getting apartment shoppers in the Midtown Atlanta rental market.

Midtown Luxury Apartments at 77 12th StreetWe have long been missing a higher end rental product in Midtown Atlanta. Potential renters have either needed to find a private condo for rent, or opt for only 3 apartment buildings in the immediate area. Now, we will have two new apartment buildings hit the rental market at almost the same time. Let the rental war begin??

While this is good news for renters looking for Midtown rental options, they will be on the pricey side at $1500 for a 1 bedroom and $2400 for a 2 bedroom. (We will see how the market reacts to this when they open) On the flip side, for those investors or private owners looking to rent their Midtown Atlanta condo, there may be some pressure on the price you can get with all this shiny new places to rent. OR, it may drive up your price as you may be able to ask more than you have in the past, given the “competition” you will now have.

Certainly some questions that all the New Cranes in Midtown Atlanta have offered up!

Thom Abbott

Associate Broker, REALTOR(R)
905 Juniper Street, NE Suite 110
Atlanta, Georgia 30309
770.713.1505 Direct
404.876.4901 Office

 
 
 
 
 
 
 
 
 
 

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