Atlanta Condos For Sale

Hilton Hotel to Open in Midtown Atlanta

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Hilton Homewood Suites Midtown AtlantaMidtown Atlanta will soon see the cranes of construction, although it won’t be for a new condominium building. (Thank goodness!) But a new dual branded Hilton Garden Inn and Homewood Suites will rise at the corner of 10th and Williams Street. You may know Williams Street a the northbound street that parallels the Downtown Connector. Groundbreaking for the new hotel was held on August 18th. The hotels should open in 2013.

The two hotels will be housed in a 12-story tower, and will feature 226 rooms: 134 rooms branded as Hilton Garden Inn, and 92 branded as Homewood Suites. It’s a new concept for a hotel, to have two brands occupy the same building, but both are under the Hilton umbrella.

The site is currently a parking lot, and this building will be a nice addition to the Midtown skyline, especially at the 10th Street entrance to Midtown! Now, one just has to wonder who’s going to fill the hotel rooms. But, more recent additions to the Midtown Atlanta hotel scene have been on the upscale side, such as the Loews Atlanta and the newly re-branded Renaissance Hotel (formerly the Hotel Palomar). It certainly is a convenient location to such buildings as Price Waterhouse as well as the GATech campus.

The Hilton Garden Inn and Homewood Suites is pictured above. This is how the site currently looks. We look forward to watching the construction progress and will be sure to share photos as it moves along.

Midtown Atlanta Hilton Hotel Site

City Hall East to Get New Life as Ponce City Market

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You’ve heard the saying, “music to my ears…” Well, this announcement is certainly one of them. An Atlanta landmark of sorts seems to be on the verge of a new life, and one that could be an amazing addition to the Midtown/Old Fourth Ward area. If it’s done right.

If you have ever been to New York City and visited the Chelsea Street Market….then you can certainly imagine MY excitement about this massive redevelopment of the old Sears Roebuck & Company building, also known as City Hall East.

City Hall East to Get New Life as Ponce City Market

Ponce City Market at City Hall EastJamestown and its subsidiary Green Street Properties are about to close on the purchase of this mammoth 2-million sq. ft building. A visit to the Jamestown Properties website would certainly make you think they are indeed the company with the vision and the money to make such a transition a reality. Indeed, it’s possible. If it’s done right.

Unveiled at the International Council of Shopping Centers convention in Las Vegas in May, plans call for some 236,000 square feet  of retail space and 21,000 square feet for restaurants.  These plans include a “food hall” that would become the focal point of the Ponce City Market.  So what could Midtown Atlanta residents hope for in the way of retail?

A look at the retail in Chelsea Market does not show any of those big box guys, but an eclectic mix of shops….just what the doctor ordered for the ailing retail segment of Midtown/Old Fourth Ward. I visited Chelsea Market when I was in New York City in December…it was awesome to say the least.

But, and there is always a but. Chelsea Market is in the heart of ultra density….Manhattan. City Hall East Let’s start calling it the new name, Ponce City Market sits on the edge of Midtown Atlanta and the edge of Old Fourth Ward. With the exception of a couple apartment buildings, it’s not at all a walkable destination for Midtown Atlanta condominium residents…or even Historic Midtown. (Can you say….CAR?) It does however, sit alongside the Beltline, a 22-mile loop of railroad tracks that are to be transformed into a transit/bike/walking ring around the city, connecting to multi-use developments….like Ponce City Market. The other “but” is the developer’s deep pockets. And that works two ways. One, they have the money to develop the Market, and sit on it. “But” they also have the money to help subsidize rents to get the place filled up, vibrant and happening, and then be able to move rents up, hopefully not running tenants out of business before they can become established.

Plans also call for office tenants that want true loft space for their offices. The building can offer up to 100,000 square foot plates for such, and also offer skyline views of Midtown and Downtown Atlanta.

I’ll be keeping a close eye on this one and let’s hope it’s a winner. No timeline for completion was listed in the information I found. Here is a photo I snapped while attending the dedication of the Historic Fourth Ward Park.  City Hall East a.k.a. Ponce City Market is the huge brick building to the right.

Ponce City Market and Historic Fourth Ward Park

 

Colony Square Athletic Club – Midtown Atlanta

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Ok, I’m the first to admit. I don’t get to the gym as often as I need to. I’ve got all kinds of excuses. Shame on me.

But, I still want to share with you about a great, and inexpensive gym in Midtown Atlanta, Colony Square Athletic Club. It’s really a great option for a gym if either your Midtown Atlanta condominium does not have a fitness center, or you just want to go someplace different.

Tomorrow, they are having a Membership Appreciation Party! If I bring any friends in and they join, I get an extra free month! I like that! And you get a gym membership at a gym that is open 24/7.

Come check it out, but let me know so we can go together!

Come check out Colony Square Athletic Club! Located in Colony Square, at 14th and Peachtree Streets. You get 2 hours complimentary garage parking so you don’t have to worry about being out in the elements. The Mall area of Colony Square (that’s a subject for another post) has some restaurants where you can grab a bite after your workout. And it’s connected to the W Midtown Atlanta Hotel.

Hope to see YOU at Colony Square Athletic Club! Maybe you can be my incentive to get my butt there!

Coca Cola Relocation to Midtown Atlanta

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Coca Cola World Headquarters Midtown Atlanta
Coca Cola World Headquarters Midtown Atlanta

“Things go better with Coke.” Remember that commercial campaign for the famous soft drink? Well, Midtown Atlanta will certainly be getting “better with Coke” as Coca Cola begins a transformation of their Midtown/North Avenue campus which will include the relocation of up to 600 employees.

The 35 acre campus, located just West of Midtown on North Avenue will be reinvigorated with a $90 million renovation of its 1.8 million sq. ft. campus, most famous for 1 Coca Cola Plaza, the tower with the logo on top. In a statement to the Atlanta Business Chronicle, spokeswoman Kerry Tressler stated, “The effort is part of reaching our goal of being a great place to work in our 2020Vision and to meet the needs of a high-performance workforce.”

Coca Cola Relocation to Midtown Atlanta

The relocation of employees and the renovations are part of the $13 billion acquisition of Coca-Cola Enterprises, Inc.’s North American operations, which was done last October.

Midtown Atlanta
Midtown Atlanta

This project is great news for Midtown Atlanta! The Coca-Cola campus is convenient to numerous Midtown high-rise and single family homes. New higher paying jobs could certainly mean more buyers for the many condos available as well as shoppers and diners for Midtown’s retail and restaurant business.

As these individuals move to the new and improved Coke Campus, we will be ready to help them Search for their new Midtown Atlanta Home.

Midtown Neighbors' Association Opposes Proposed Credit Union Plans

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In a letter dated January 31, 2011, the Midtown Neighbors’ Association has expressed its concerns about the proposed interior and exterior renovations to a site in Midtown Atlanta by the Delta Community Credit Union (DCCU).

Proposed Delta Community Credit Union
Proposed Delta Community Credit Union

The letter, from Tony Rizzuto, Land Use Committee Chairman, states that the current site has a single drive-through window, but DCCU wants to expand the drive through service to multiple lanes. Rizzuto further states that the Midtown SPI-16 Zoning Ordinance  specifically prohibits drive through service windows and drive-in facilities from being located east of Spring Street or along Storefront Streets.

The site is located just a block from the Midtown MARTA station and the DCCU’s SAP (Special Administrative Permit) is asking for two curb cuts on Cresent Avenue, and another on Peachtree Place to allow for the proposed vehicle traffic.

One of the great things that makes Midtown Atlanta what it is today, and will be in the future is the Midtown Blueprint. This well designed (for the most part) calls for specific types of design with an emphasis on promoting a livable, walkable and sustainable community. Such automobile-centric design proposals still show that the larger business community needs to look past the hood of the car and more to the tennis shoes on the street. Such a design is just fueling (sorry for THAT pun) Atlanta’s continued love affair with their automobiles, and less of a love of their shoes and the street.

Midtown currently ranks as the highest walkable community in the Atlanta area. Residents from both Historic Midtown as well as the numerous condominium communities enjoy the ability to walk from their homes to shopping, restaurants and markets, without the use of a car.

For those unfamiliar with the site, here is a map of the location. It will be interesting to see how this makes it through the City Hall planning process.

80 Peachtree Place

Buckhead's tallest building sells for $167M  

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By Rachel Tobin

The Atlanta Journal-Constitution

Buckhead’s tallest building, the 50-story Sovereign tower, is fetching the highest price of any property of its type in Atlanta all year.

Parkway Properties, an investment firm based in Jackson, Miss., said it has a contract to buy the office and retail portion of the building at 3344 Peachtree Road for $167.3 million. Closing is expected in January.

The Class A offices, which are 93 percent leased, include tenants such as real estate services firm Jones Lang LaSalle; law firms Weinberg, Wheeler, Hudgins Gunn & Dial and Littler Mendelson and Hodges Ward Elliott; undergarment maker SPANX; and Fifth Third Bank.

The Buckhead Club, Barclays and Bistro Niko also are in the building.

The tower, whose swooping, angular profile cuts a distinctive figure on the Buckhead skyline, also has 82 high-end condos that are not included in the sale.

Parkway Properties is an investor in the nearby One Capital City Plaza building.

Alan Wexler, of the real estate research firm DataBank Atlanta, calculated the sale amounts to about $346 per square foot, not counting the condos.

“This is the highest price we’ve recorded all year,” he said. He believes there was as much as $250 million invested in the tower, which was finished in 2008. He believes the purchase price comes close to covering what was invested.

“It’s a Class A, very well leased building in a great location. It’s a big deal,” he said.

Regents Partners developed the building, which was designed by Smallwood, Reynolds, Stewart, Stewart.

via ajc.com

Could this be the sign that real estate is on the climb upward! Let’s hope so!

Thom

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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