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Developers walk away from 200-unit proposal near BeltLine Josh Green Mon, 01/08/2024 - 08:28 Despite the BeltLine’s magnetism, Atlanta’s roaring job market, and the promise of lower interest rates on the horizon, another residential project within steps of the popular Eastside Trail isn’t moving forward as planned.   

Cleveland-based NRP Group revealed plans in summer 2022 for an apartment project called Colgate Mattress Lofts that would have claimed a 2.7-acre corner parcel a block from the BeltLine in Reynoldstown.

Those plans—latter approved by the BeltLine Development Review Committee—called for replacing a longstanding warehouse that houses the Colgate Mattress company, producers of crib mattresses for nearly 70 years, with 215 apartments.

But that’s off the table now, as NRP Group has dropped its 220 Pearl St. development plans, according to neighborhood sources and marketing materials.

Earlier plans for the Reynoldstown venture where Pearl Street meets Fulton Terrace. The NRP Group; designs, Lord Aeck Sargent

We’ve reached out to NRP Group officials for more information on their decision to pull back in Reynoldstown, and this story will be updated with any additional details that come. The company’s online portfolio shows no projects delivered, planned, or under construction in Georgia.

The nine-dock Colgate Mattress warehouse property is now being marketed for rent. Built in 1955, the building spans about 63,000 square feet, according to LoopNet.  

The cancellation could also be viewed as a loss for relatively affordable housing near the Eastside Trail, as NRP Group planned to make 10 percent of the rentals available at 60 percent of the area median income, complying with the BeltLine Inclusionary Zoning Ordinance.

BeltLine DRC members in fall 2022 applauded the planned architecture and overall site plan for Colgate Mattress Lofts. The developer’s efforts to preserve trees on the site—namely in a future plaza area—also gained kudos.

Site of the proposed Colgate Mattress Lofts in relation to the BeltLine, at right, and Memorial Drive. Google Maps

The 2.7-acre corner parcel in question, as seen in January 2022. Google Maps

NRP Group bills itself as one of the nation’s top multifamily developers, general contractors, and property management firms, with extensive affordable housing experience. The company previously stated the Lord Aeck Sargent-designed Reynoldstown project would have marked its Georgia debut.

Immediately east of the warehouse site, officials with another national developer, Toll Brothers, told Urbanize Atlanta in August their 85-unit mix of townhomes and for-sale condos is also being paused indefinitely, following extensive demolition and site work.

Camber Crossing is envisioned as an infill mix of townhomes alongside a multifamily building with for-sale condos, which remain relatively rare in Atlanta. The L-shaped, roughly 2-acre site in question is a block west of the Eastside Trail at 195 Chester Avenue.

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220 Pearl Street SE 779 Fulton Terrace SE Colgate Mattress Lofts The NRP Group Lord Aeck Sargent Modera Reynoldstown Zoning Atlanta Development Atlanta Construction Atlanta apartments Cabbagetown Eberly & Associates

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The 2.7-acre corner parcel in question, as seen in January 2022. Google Maps

Site of the proposed Colgate Mattress Lofts in relation to the BeltLine, at right, and Memorial Drive. Google Maps

The NRP Group; designs, Lord Aeck Sargent; photo courtesy of Eric Phillips

Initial plans for facades and greenspace along Fulton Terrace. The NRP Group; designs, Lord Aeck Sargent; photo courtesy of Eric Phillips

The NRP Group; designs, Lord Aeck Sargent; photo courtesy of Eric Phillips

The NRP Group; designs, Lord Aeck Sargent; photo courtesy of Eric Phillips

Earlier plans for the Reynoldstown venture where Pearl Street meets Fulton Terrace. The NRP Group; designs, Lord Aeck Sargent

Subtitle Despite Eastside Trail proximity, Reynoldstown project is second to hit pause button on same street

Neighborhood Reynoldstown

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6 Atlanta development stories to watch in 2024 Josh Green Fri, 01/05/2024 - 16:08 With talk of relaxed interest rates and boundless prosperity (not really) on the horizon, 2024 holds promise of being an interesting time in the arena of real estate development.

Naturally, the City of Atlanta is positioned to be in the thick of it. 

With so much happening in so many corners of the metro, it's tough to whittle down, but below are a half-dozen picks for development stories that should play out in fascinating ways across this brand new year. 

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6. Westside’s rise

How tiered greenspace neighbors Echo Street West's main timber-built office building.

After several pandemic and post-pandemic years that saw a flurry of new construction, Westside neighborhoods such as English Avenue show promise of becoming more vibrant with jobs, housing options, and a budding restaurant scene this year.

With construction on its first phase in the books, Echo Street West aims to open its first three retailers this spring, to complement its Westside Motor Lounge and 292-unit Vibe apartments. A few blocks away, the Modera Westside Trail project is fully under development, with another almost 400 units in the pipeline. And come March, the first move-ins are expected to commence at Science Square’s new residential tower.

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5. Buckhead Village growth spurt

Should developers' plans come to fruition, Buckhead Village will look like a mini version of Midtown’s crane nest in coming months.

Chicago-based developer CA Ventures has erected cranes for a 22-story building with nearly 500 luxury apartments on East Paces Ferry Road. Across the street, another company based in greater Chicago, Harbor Bay Ventures, is advancing plans for a 20-story, mixed-use tower that would claim an empty lot and be partially constructed of mass timber.

About a block south of that site, New York-based Tidal Real Estate Partners plans to build a 21-story project that would consume nearly a full block of the village. All low-rise properties at that site are currently vacant and boarded up, awaiting demolition.

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4. Potential South Downtown rebound

Where renovations to 19th-century brick buildings along Mitchell Street conclude. Josh Green/Urbanize Atlanta

Late December brought the bombshell news that Newport RE’s years of work buying up (and fixing up) a large chunk of South Downtown might not be for naught after all. Atlanta Ventures—the Buckhead-based company behind Atlanta Tech Village, one of America’s largest startup hubs—has stepped in to take the reins on more than 50 buildings and 6 acres of parking lots across some 10 blocks.

If a well-attended tour of downtown on the first workday of 2024 is any indication, these guys are motivated.

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3. Midtown’s high-rise residential boom

Construction progress on the 31-story Society Atlanta tower as seen in December from the corner of Peachtree and 6th streets. Josh Green/Urbanize Atlanta

Another year, another several hundred new places to live in central Midtown.

Hot openings (and relatively big buildings) on the ’24 radar include Society Atlanta and JPX Works’ Emmi Midtown (both recently topped-out) and the two-tower Momentum Midtown.

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2. Continued BeltLine connectivity

At long last, we’ve entered the heyday of Atlanta BeltLine construction, with planning, digging, and actual concrete-pouring happening all around our fabled 22-mile loop. Truth be told, 2025 looks like the really monumental year for new BeltLine segment openings on the south and west sides of town.

But don’t sleep on the Northeast Trail’s next phase, which is on schedule to open sometime this fall. It might be a mere .9 miles in length, but it’ll provide the final missing link of BeltLine connectivity stretching all the way from Ormewood Park/Grant Park up to southern Buckhead.

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1. The rise of a true Atlanta skyscraper

Skyward West Peachtree Street view. Rockefeller Group; Brock Hudgins Architects; TVS

Devote ATL development watchers have waited 15 years for another high-rise to truly change the city’s skyline in a prominent way, but that should start changing in 2024.

With most of its footing in place and construction cranes standing, all signs point to Rockefeller Group’s 60-story skyscraper 1072 West Peachtree starting to make its mark over Midtown in coming months. It’ll be the city’s tallest new building since 1992. And not since Sovereign Buckhead—a condo tower built in 2008 as the tallest residential building in Georgia history—has one structure promised to make such a visual impact.

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Subtitle Forecast calls for fascinating year ahead

Neighborhood Citywide

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Market snapshot: How Atlanta home prices have recently exploded Josh Green Fri, 01/05/2024 - 13:45 Perhaps you’ve seen the dour TV commercials recently that depict the typical American route to prosperity—youth, school, job, mortgage, family, equity—and how that’s become off-limits for much of today’s youth, due to steep home price increases and other factors.

Which got us wondering: Big picture, is that the case in metro Atlanta?

Any Atlantan with even a mild Zillow addiction knows home prices from Alpharetta to Decatur and Peachtree City have gotten astronomically higher, anecdotally speaking, since the Great Recession’s cloud-cover over the metro. We asked MarketNsight, an Atlanta-based real estate data and analysis provider, for more specifics.

According to MarketNsight’s principal and chief analyst John Hunt, housing’s “last normal year was 2002,” so a two-decade, metro-wide snapshot seemed logical.

The years following 2002 were defined by the subprime mortgage period, which then cratered into the recession of 2008 and 2009.  

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Hunt’s analysis took into account a 26-county metro Atlanta area.

Get this: In 2002, the median sales price (or the exact middle point) for all new homes sold was just $167,750 across the metro. (Today, that buys the smallest floorplan at Clarkston’s tiny home village, but little else in livable condition within earshot of Atlanta's core.)

As of last year, the median sales price for new homes in metro Atlanta was $420,000—an increase of more than 150 percent across two decades, according to MarketNsight.

Wages and salaries in the U.S. have certainly increased over the same time period, but not nearly at the same rate.

Median price appreciation data for a 26-county metro region across the past 20 years.MarketNsight

But according to Hunt, the drastic increase in metro Atlanta home prices isn’t unexpected or abnormal.

“If we use 2002 as a baseline… and calculate a 4.6 percent annual price appreciation—which has been standard over the past three decades—then we see that prices are right where they should be,” says Hunt.  

With restricted supply, continued population growth, and many younger metro Atlantans wishing to start families, the appreciation trend shows few signs of cooling as 2024 begins, according to an AJC report today.

And for better or worse, a new Zillow ranking this week calls Atlanta the sixth-hottest market in the country right now.

MarketNsight

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Median price appreciation data for a 26-county metro region across the past 20 years.MarketNsight

MarketNsight

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Subtitle "Housing’s last normal year was 2002"

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Street upgrades, extension on tap for Midtown in early 2024 Josh Green Fri, 01/05/2024 - 08:23 Two street-upgrade projects that have been in Midtown’s pipeline for years are expected to get underway in coming months, with a goal of better connecting the subdistrict and beefing up its bicycle lanes and pedestrian infrastructure.

Both the (delayed) 15th Street Extension and 5th Street Complete Street projects have awarded construction contracts and are scheduled to see work start in early 2024, according to Midtown Alliance.

The more extensive project, the 15th Street Extension, has undergone more than six years of planning and fundraising and a hiccup involving the bidding process that knocked its construction timeline back.

Plans call for extending 15th Street by two blocks west, toward Atlantic Station, to create a multimodal link from the Arts Center MARTA station to Williams Street, near the downtown Connector.

The proposed look of two new blocks of 15th Street, looking west toward Atlantic Station from West Peachtree Street. Courtesy of Midtown Alliance

Courtesy of Midtown Alliance

As is, 15th Street dead-ends at West Peachtree Street, next to the AMLI Arts Center apartment tower, walling off access to the transit hub for sections of Spring Street. The extended street will slip between apartment high-rises and consume part of what’s currently a gravel parking lot.

According to Midtown Alliance, the project was awarded to low bidder Reeves Young last month. The schedule calls for starting construction sometime early this year and completing the work in 18 months, per project officials.

The extended street will include three new lanes of public roadway between West Peachtree and Spring streets, including two left-turn lanes at both of those one-way streets. West of that, expect a single through-lane in each direction.  

Other features will include five-foot-wide bicycle lanes at sidewalk level in each direction, another five-foot zone dedicated to trees and street furniture, and 10-foot sidewalks on both sides of the street.

The bike lanes are designed to directly connect with the Arts Center MARTA station, existing and forthcoming residential and hotel developments, and other bike routes in the district, per Midtown Alliance.

The full two-block extension will consume GDOT right-of-way.

A section of the proposal showing 15th Street's new functionality. Courtesy of Midtown Alliance/Jacobs

Placement of the forthcoming 15th Street extension. Google Maps/Urbanize

More than $6 million in funding is in place to build the project, with about half of that coming from Georgia Department of Transportation and federal coffers. Midtown Improvement District funds and City of Atlanta impact fees are covering the bulk of remaining costs.

After receiving a grant from the Atlanta Regional Commission, city and GDOT officials began work to design the 15th Street project back in summer 2017. Engineering, traffic, and environmental studies took place over the next few years, and in 2021 the project was awarded $2 million in additional federal funding for construction.

Meanwhile, about a mile straight south, the 5th Street Complete Street project is expected to take 16 months to complete, beginning in early 2024. Midtown Alliance awarded the construction contract to low-bidder Hasbun Construction in November.

The $3-million project’s scope would span about .6 miles from Williams Street near the Connector in Tech Square to Myrtle Street in Midtown’s residential Garden District.

Rendering of a planned 5th Street complete streets makeover. Courtesy of Midtown Alliance

5th Street is already considered one of Atlanta’s most popular multimodal thoroughfares. Planned upgrades call for infill street trees to protect bike lanes, upgraded ADA ramps and crosswalks, better lighting, a new traffic signal at Williams Street, and a full repaving and re-striping of the street.

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The proposed look of two new blocks of 15th Street, looking west toward Atlantic Station from West Peachtree Street. Courtesy of Midtown Alliance

Courtesy of Midtown Alliance

A section of the proposal showing 15th Street's new functionality. Courtesy of Midtown Alliance/Jacobs

Placement of the forthcoming 15th Street extension. Google Maps/Urbanize

Rendering of a planned 5th Street complete streets makeover. Courtesy of Midtown Alliance

Subtitle Expect changes to 5th and 15th streets meant to better connect subdistrict, per Midtown Alliance

Neighborhood Midtown

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Images: Construction on BeltLine ‘jewel’ park to finally begin soon Josh Green Thu, 01/04/2024 - 16:00 One of the original 13 “jewel parks” in the Atlanta BeltLine’s emerald necklace vision is set to finally move forward within a few months, according to project officials.

Long envisioned as the gateway to historic Southwest Atlanta neighborhood Westview, an expanded Enota Park project first showed promise back in 2007, when the Trust for Public Land began acquiring six different properties to add about 4 acres. The initiative gained momentum in 2017, when the U.S. Department of the Interior gifted a $600,000 grant to the effort. The following year, Atlanta BeltLine Inc. selected Peachtree Corners-based engineers Pond & Co. to lead designs.

Still, nearly six years later, Enota Park remains little more than a .3-acre playground surrounded by woods.

That’s all set to change this year, according to BeltLine officials, who recently relayed news that a contract is in progress to lock in a construction manager for Enota Park’s expansion.

The Enota Park project's location adjacent to the Westside Trail and Interstate 20 on Atlanta's southwest side. Atlanta BeltLine Inc.

The reimagined greenspace is expected to span 8 acres, or about half the size of Historic Fourth Ward Park on the Eastside Trail.

Features in Westview will include a large pavilion covered by a solar shade structure, an activity field, splash pad, passive gardens, a new playground, recreation areas, and a basketball court. The park will also showcase Proctor Creek, which emerges at the site from its below-ground starting point at Georgia World Congress Center, according to BeltLine officials.

When finished, Enota Park will be bounded by Interstate 20 to the north, the Westside Trail to the east, Lucile Avenue to the south, and Enota Place to the west.

BeltLine officials are currently working to finalize construction permitting, the construction manager contract, the project budget, and details regarding some real estate parcels within the park.

Lawn seating and enhanced playground equipment. Atlanta BeltLine Inc.; designs, Pond & Co.

Rendering depicting a multipurpose playscape and solar shade structure at Enota Park. Atlanta BeltLine Inc.; designs, Pond & Co.

Project leaders expect Enota Park construction to start in the second quarter of this year. It’s expected to take about 16 months to finish, putting the opening sometime in late 2025, should all go according to plan.

In the gallery above, find more renderings depicting what’s in the works in Westview today.

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The Enota Park project's location adjacent to the Westside Trail and Interstate 20 on Atlanta's southwest side. Atlanta BeltLine Inc.

Rendering depicting a multipurpose playscape and solar shade structure at Enota Park. Atlanta BeltLine Inc.; designs, Pond & Co.

Lawn seating and enhanced playground equipment. Atlanta BeltLine Inc.; designs, Pond & Co.

Passive gardens planned for the park. Atlanta BeltLine Inc.

A “sprayground plaza” and new structures planned at Enota Park. Atlanta BeltLine Inc.

Atlanta BeltLine Inc.

Atlanta BeltLine Inc.

Multipurpose playfield with terraced seating covered by a solar shade. Atlanta BeltLine Inc.

Half-court basketball at the expanded Enota Park.Atlanta BeltLine Inc.

Subtitle Westview's multifaceted Enota Park expansion has been in pipeline for well over a decade

Neighborhood Westview

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'24 forecast where Moreland meets Memorial: townhomes galore Josh Green Thu, 01/04/2024 - 13:17 While it’s still early, the 2024 forecast calls for a mini residential boom of townhomes by the same builder along two busy intown streets, with two projects within steps of each other but in two different neighborhoods—and two separate Georgia counties.

Both Madison Park-branded projects are currently being built by Atlanta-based JackBilt Development, the firm behind other eastside projects on (or near) the Memorial Drive corridor including The Warren in Kirkwood, Warren South in Parkview, and Ell Square in East Lake. 

In Reynoldstown (and Fulton County), the 16-townhome Madison Park project continued construction over the holidays on a new flank fronting Moreland Avenue. It replaces a long-vacant church demolished on site in 2022.

New fencing installed between the two townhome rows and the Eastside Trolley Trail, a multi-use BeltLine connection. Josh Green/Urbanize Atlanta

Inside the first finished units at Madison Park, all three-bedroom options that start from $499,000. Courtesy of Atlanta Fine Homes Sotheby's International Realty

Allen Snow, an Atlanta Fine Homes Sotheby’s International Realty associate broker representing the townhomes, tells Urbanize Atlanta three townhomes have sold in the project’s rear building, with a model home now open for tours.

All options have three bedrooms, two and ½ bathrooms, two-car garages, and small backyards.

Current listings are priced from $499,900 to $585,000, depending where they stand in the site plan. At that price, all of them are the cheapest non-condo living options being offered in Reynoldstown at the moment.

Listing services peg the square footages at 1,797, while monthly HOA fees are listed as $275. Buyer incentives are currently listed as free refrigerators and $20,000 seller credits with some units.  

According to Snow, the front building under construction now will see the same floorplans but with full rooftop decks—with higher prices in the $600,000s.

The site is located just north of Memorial Drive, near the northwest corner of Moreland Avenue and Arkwright Place. The new Eastside Trolley Trail, a multi-use PATH Foundation project between (almost) the BeltLine and Kirkwood, neighbors the new townhomes. The project continues Atlanta’s trend in recent years of repurposing or demolishing outdated or derelict church properties for more housing.

New construction fronting Moreland Avenue's sidewalks. Josh Green/Urbanize Atlanta

Small greenspaces tucked behind the first row of Madison Park units. Courtesy of Atlanta Fine Homes Sotheby's International Realty

Meanwhile, in Edgewood and DeKalb County, a sister, 18-townhome JackBilt project is coming together a couple of blocks away on Memorial Drive. 

Snow says the first townhomes at what’s called Madison Park South are nearing completion now. Floorplans in three of the four buildings call for either two or three bedrooms and rooftop decks.

Prices in Edgewood so far range from $579,000 to $674,000.

Previously vacant, Madison Park South’s .8-acre site is situated just east of Moreland Avenue, along the south side of Memorial. Both townhome projects were designed by McMillan Pazdan Smith Architecture.

In the gallery above, find the first inside look at Madison Park units and more context for both eastside projects.

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Construction progress this week on Madison Park's second flank in Reynoldstown. Josh Green/Urbanize Atlanta

New fencing installed between the two townhome rows and the Eastside Trolley Trail, a multi-use BeltLine connection. Josh Green/Urbanize Atlanta

New construction fronting Moreland Avenue's sidewalks. Josh Green/Urbanize Atlanta

Trail proximity, as shown looking west toward the BeltLine. Josh Green/Urbanize Atlanta

Inside the first finished units at Madison Park, all three-bedroom options that start from $499,000. Courtesy of Atlanta Fine Homes Sotheby's International Realty

Courtesy of Atlanta Fine Homes Sotheby's International Realty

Courtesy of Atlanta Fine Homes Sotheby's International Realty

Small greenspaces tucked behind the first row of Madison Park units. Courtesy of Atlanta Fine Homes Sotheby's International Realty

Courtesy of Atlanta Fine Homes Sotheby's International Realty

Courtesy of Atlanta Fine Homes Sotheby's International Realty

Courtesy of Atlanta Fine Homes Sotheby's International Realty

Courtesy of Atlanta Fine Homes Sotheby's International Realty

Courtesy of Atlanta Fine Homes Sotheby's International Realty

Courtesy of Atlanta Fine Homes Sotheby's International Realty

Entering the top-floor primary suites. Courtesy of Atlanta Fine Homes Sotheby's International Realty

Courtesy of Atlanta Fine Homes Sotheby's International

Courtesy of Atlanta Fine Homes Sotheby's International

Proximity to downtown, as shown looking west last year. Courtesy of Atlanta Fine Homes Sotheby's International

Sample floorplans for three-story Madison Park townhomes. JackBilt/Atlanta Fine Homes Sotheby’s International Realty

Larger, four-story floorplan at Madison Park South. JackBilt/Atlanta Fine Homes Sotheby’s International Realty

Walking distance between the two Madison Park townhome development sites—the left project in Fulton County, the right in DeKalb.Google Maps

The Madison Park South site plan at 1237 Memorial Drive SE. JackBilt/Atlanta Fine Homes Sotheby’s International Realty

Sample facade provided for both townhome projects. JackBilt/Atlanta Fine Homes Sotheby’s International Realty

Subtitle The latest on least expensive non-condo options in Reynoldstown at the moment

Neighborhood Reynoldstown

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Images: Remade Midtown building to open golf, entertainment concept Josh Green Thu, 01/04/2024 - 08:15 An indoor golfing and entertainment concept described as the first of its kind in Georgia is set to tee up soon at the remade annex of a landmark Midtown building.

Five Iron Golf plans to open its first location in the Southeast this month near the base of the 1980s skyscraper rechristened Tower Square a few years ago.

The 675 West Peachtree St. location is part of the 80,000-square-foot annex next to the office tower, located adjacent to Midtown’s Fox Theatre.

Five Iron Golf announced its plan to open at the plaza level off West Peachtree Street—surrounded by a forest of newer apartment buildings and hundreds of thousands of square feet of upscale offices in new towers—in fall 2022.

Courtesy of Five Iron Golf

Courtesy of Five Iron Golf

The Midtown location marks the Manhattan-based brand’s 23rd in the U.S., following others in Detroit, Cincinnati, Cleveland, and Indianapolis, plus three more recent openings in New York City and one in Boston.

The concept’s main draw in Atlanta will be 13 custom TrackMan golf simulators—allowing for simulated play on nearly 200 famed courses and “tour-level technology and multiple high-speed cameras to capture every angle of the golf swing” during “the unpredictable winters in Atlanta”—in addition to a full food and beverage menu, according to a Wednesday announcement.

Other features will include bag storage and locker rooms—with actual showers and towel service—in addition to memberships and what’s described as the country’s largest indoor league, plus space for private events. For non-golfers, classic games such as pool, air hockey, and shuffleboard will be offered, alongside multi-sport simulators for soccer, dodgeball, and bowling.

Murals by local artist Aesek are meant to add a hip urban touch alongside modern lounge furniture and neon lighting, according to company reps. 

The Tower Square annex project, as depicted in a rendering when fully leased. Courtesy of CBRE

Courtesy of Five Iron Golf

Five Iron Golf Atlanta was initially scheduled to open across 16,000 square feet in mid-2023. (For context, Puttshack’s first U.S. location at The Interlock district on Howell Mill Road—another golf-centric party concept—spans about 25,000 square feet, with four tech-driven, mini-golf courses.) An exact opening date hasn’t been specified.

Formerly known as AT&T Midtown Center I, BellSouth Center, and Southern Bell Center, Tower Square is a 47-story building next door that opened in 1981, encompassing 1.4 million square feet. That makes it not only Atlanta’s largest building in terms of square footage but the biggest in the southern U.S., according to Avison Young Atlanta Agency Leasing Group, the commercial real estate firm tasked in 2022 with filling it.

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The Tower Square annex project, as depicted in a rendering when fully leased. Courtesy of CBRE

The 1.4-million-square foot building opened in Midtown more than 40 years ago. via LoopNet

Rendering depicting the building's private plaza along West Peachtree Street, and how it could function once fully built out with retail and other components. Courtesy of Avison Young Atlanta Agency Leasing Group

Courtesy of Five Iron Golf

Courtesy of Five Iron Golf

Courtesy of Five Iron Golf

Courtesy of Five Iron Golf

Courtesy of Five Iron Golf

Courtesy of Five Iron Golf

Courtesy of Five Iron Golf

Courtesy of Five Iron Golf

Courtesy of Five Iron Golf

Subtitle Debuting this month, Five Iron Golf Atlanta described as first of its kind in Georgia

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Photos: All-affordable BeltLine housing tops out along Eastside Trail Josh Green Wed, 01/03/2024 - 14:58 Nearly two years after its official groundbreaking, a rare Atlanta BeltLine-fronting project with exclusively rent-capped homes has rounded into shape in Reynoldstown.

Having replaced a surface parking lot adjacent to the BeltLine, the Madison at Reynoldstown project has topped out vertical construction on 116 rental units designed to meet affordability standards along two of Atlanta’s more rapidly developing transportation corridors: the BeltLine’s Eastside Trail and Memorial Drive.

The location will allow families quick access to groceries (Publix and KroBar), entertainment, greenspaces, restaurants, and job hubs such as nearby Madison Yards and Krog Street Market, as BeltLine leaders have stressed. 

The Madison at Reynoldstown's topped-out main structure along the Eastside Trail, as it appears this week. Josh Green/Urbanize Atlanta

Vehicle entries and the westernmost section of Madison at Reynoldstown along Chester Avenue. Josh Green/Urbanize Atlanta

The $43.6-million project is a joint effort by Atlanta Housing, the City of Atlanta, Invest Atlanta, and Atlanta BeltLine Inc.

In the works for several years, it broke ground in March 2022 and consumed the block’s full southern end, save the longstanding Lofts at Reynoldstown Crossing building, a former warehouse. Today, the complex spans 1.2 acres at the northeast corner of Memorial Drive and Chester Avenue in Reynoldstown, one of intown’s hotter real estate markets for more than a decade.

As developed by Rea Ventures Group, all Madison at Reynoldstown homes will be reserved as affordable housing for families earning 80 percent of the area median income or less—an agreement locked into the property for 30 years, officials have told Urbanize Atlanta.

Exact rents haven’t been specified, but the breakdown of units has: 71 one-bedrooms, 36 two-bedrooms, and nine apartments with three bedrooms and two bathrooms.

An Atlanta Housing program called HomeFlex will also provide subsidies for residents of 46 units; those will be dedicated to working families earning up to 30 percent of median incomes for the area, according to project leaders.

We’ve reached out to BeltLine officials today for information on construction timelines and applying for Madison at Reynoldstown apartments, and this story will be updated with any additional information that comes.

Initial plans called for finishing the project in fall 2023, with the rent application process beginning close to the building’s debut. Reasons for the delay aren’t yet clear.  

Elsewhere around the project, plans call for one parking space per unit and roughly 2,700 square feet of commercial or retail space, including a section fronting the Eastside Trail and another on Memorial Drive.

The new building's relationship to an existing residential structure, the Lofts at Reynoldstown Crossing, next door. Josh Green/Urbanize Atlanta

Where Madison at Reynoldstown's planned frontage on the Eastside Trail has replaced a parking lot. Praxis3

The project’s architect, Praxis3, has described it as a statement by the city that addresses the ills of gentrification and scarcity of affordable and workplace housing.

Public and private funding sources included a $21.5-million, tax-exempt bond from Invest Atlanta, a $2-million grant from the BeltLine Affordable Housing Trust Fund, and a $4.4-million National Housing Trust Fund award from the Georgia Department of Community Affairs, among others. Atlanta Housing is investing $8.9 million in addition to its HomeFlex subsidies.

In the gallery above, find a closer look at where the project stands today—and how it’s expected to look and function when finished.

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The Madison at Reynoldstown's topped-out main structure along the Eastside Trail, as it appears this week. Josh Green/Urbanize Atlanta

BeltLine frontage and balconies today, with space reserved for offices or retail below. Josh Green/Urbanize Atlanta

The new building's relationship to an existing residential structure, the Lofts at Reynoldstown Crossing, next door. Josh Green/Urbanize Atlanta

View into the project from Memorial Drive. Josh Green/Urbanize Atlanta

The project's low-rise section along Chester Avenue. Josh Green/Urbanize Atlanta

Vehicle entries and the westernmost section of Madison at Reynoldstown along Chester Avenue. Josh Green/Urbanize Atlanta

A site plan illustrating how Madison at Reynoldstown will fit with existing condos, the Lofts at Reynoldstown Crossing, along the Eastside Trail. Praxis3 for Rea Ventures Group

How a shorter section of the project will front Chester Avenue, at left, and Memorial Drive. Praxis3

Where Madison at Reynoldstown's planned frontage on the Eastside Trail has replaced a parking lot. Praxis3

The beginnings of vertical construction in October 2022 at the Madison at Reynoldstown project, as seen looking east from Chester Avenue. Josh Green/Urbanize Atlanta

Subtitle Plans call for more than 100 rent-capped homes near Memorial Drive

Neighborhood Reynoldstown

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Hapeville townhome project replacing defunct used car lot Josh Green Wed, 01/03/2024 - 13:43 To the victor go the spoils, and that means it’s time for a development spotlight on the mighty little southside ITP city of Hapeville.

Today we’ll have a look at a townhome project billed as “Atlanta’s Coolest Boutique Community” in the northern reaches of Hapeville, the Best Atlanta Neighborhood 2023 tournament champion and current Golden Urby Chalice of Champions holder.

The Shirley Estates project, as brought to our attention by Hapeville boosters, is replacing a defunct used car lot at 3165 Dogwood Drive that’s been closed for well over a decade.

The site is just north of downtown Hapeville—about three blocks north of Arches Brewing—and immediately east of West Boling Park.  

The 3165 Dogwood Drive site in relation to downtown Hapeville, the airport, and other landmarks. Google Maps

Plans for townhome facades at the 28-unit project along Dogwood Drive, north of downtown Hapeville. IHD/Capital Investments Realty

Expect 28 townhomes overall, each standing three stories with prices beginning in the low $500,000s, according to developer IHD.

What’s that buy in Hapeville these days? Floorplans call for four bedrooms and three and ½ bathrooms in 2,300 square feet, with two-car garages at the base level. The development team describes the floorplans as spacious and the surrounding neighborhood as quiet.

Along with Hapeville’s mix of restaurants and cafes, proximity to downtown Atlanta (15 minutes) and Hartsfield-Jackson Atlanta International Airport (10 minutes) is cited as perks.

“These townhouses are [flexible] and will meet the needs of homebuyers, single or with families,” according to promotional materials.

The former used car lot on the property in 2019, more than a decade after it had shuttered. Google Maps

Construction progress at the Shirley Estates site in September. Google Maps

We’ve reached out to IHD and Capital Investments Realty officials for a construction update and other details, and we’ll update this story with any additional information. According to listing services, no Shirley Estates townhomes are on the market yet.

Find more context and a closer look at what’s coming in the gallery above.

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The 3165 Dogwood Drive site in relation to downtown Hapeville, the airport, and other landmarks. Google Maps

The former used car lot on the property in 2019, more than a decade after it had shuttered. Google Maps

Construction progress at the Shirley Estates site in September. Google Maps

Plans for townhome facades at the 28-unit project along Dogwood Drive, north of downtown Hapeville. IHD/Capital Investments Realty

IHD/Capital Investments Realty

IHD/Capital Investments Realty

Planned townhome layout along Dogwood Drive. IHD/Capital Investments Realty

Subtitle What the low-$500Ks (and up) buys in Hapeville, the 2023 Best of Atlanta tourney champion

Neighborhood Hapeville

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West Cobb shopping district announces wave of new retailers Josh Green Wed, 01/03/2024 - 08:31 The new year will see a spate of fresh signage at storefronts around an open-air shopping district in Atlanta’s northwest suburbs.

Outdoor lifestyle shopping center The Avenue West Cobb announced six new tenants Tuesday that have recently opened or will do so through spring this year.

The Avenue West Cobb—not to be confused with The Avenue East Cobb, or “AEC,” which North American Properties recently revised to feel more like a traditional downtown—is located at 3625 Dallas Highway, west of Marietta’s historic downtown.

New additions at The Avenue West Cobb include J.Crew Factory, The Peach Cobbler Factory, StretchLab, Vera Whole Health, Walk-On’s Sports Bistreaux, and Warby Parker.

The Avenue West Cobb

Those will join more than 80 local retailers, national brands, and restaurants at the JLL-managed lifestyle center, which takes pride in offering fountains, patio dining, and abundant storefront parking.  

Atlanta-based Cousins Properties developed The Avenue West Cobb in the early aughts along with similar Avenue-branded concepts sprinkled throughout the Atlanta suburbs and places like Murfreesboro, Tenn. Each was meant to provide a more inviting, walkable experience than enclosed malls.

The shopping district's 3625 Dallas Highway location west of downtown Marietta. Google Maps

Here’s a synopsis of each new Avenue retailer, as provided by JLL and edited for length:

J.Crew Factory - Opening spring 2024

J.Crew Factory offers an assortment of women's, men's, and children's apparel, shoes, and accessories… The new location at The Avenue West Cobb will be located in a 5,390-square-foot space next to American Eagle and LOFT.

The Peach Cobbler Factory - Early 2024

Opening in a 1,400 sq. ft space next to 100% Chiropractic, The Peach Cobbler Factory is home to cobblers with ice cream, banana puddings, cinnamon rolls, Pudd-N Shakes, cookies, and more.

StretchLab – Now open

StretchLab provides one-on-one, customized assisted stretching sessions led by the fitness center’s professionally trained Flexologists. The studio will be located in a 1,156-square-foot space between GameStop and Altar’d State.

Vera Whole Health - Early 2024

Set to open in a 5,500 sq. ft. location near Otter’s Chicken, Vera Whole Health is an advanced primary care provider designed to help people achieve optimum well-being.

Walk-On’s Sports Bistreaux – Now open

Co-owned by former New Orleans Saints quarterback Drew Brees, Walk-Ons offers mouthwatering Louisiana cuisine. It’s located in a 6,890-square-foot space near The Jewelsmith and Ted’s Montana Grill.

Warby Parker - Spring 2024

A direct-to-consumer lifestyle brand focused on vision for all, Warby Parker will be located in a 2,300-square-foot space next to Chico’s and Soma.

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The Avenue West Cobb

The shopping district's 3625 Dallas Highway location west of downtown Marietta. Google Maps

Subtitle Sports bar, wellness hubs, J. Crew Factory on tap at open-air The Avenue West Cobb

Neighborhood Marietta

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All hail Hapeville, your 2023 tournament champion! Josh Green Tue, 01/02/2024 - 14:52 After weeks of spirited competitions and a record number of votes, the Best Atlanta Neighborhood 2023 tournament has come to a close, and Hapeville has officially triumphed as this year's victor!

More than 36,000 votes came in across all contests in the 16-seed tourney, which goes to show how Atlanta is truly a patchwork of wonderful neighborhoods and ITP places, a city brimming with neighborhood pride.

Yes, ITP cities are allowed to compete in the tournament of neighborly excellence, and Hapeville—a growing, historic southside municipality with enviable airport accessibility—proved itself motivated time and again. This was Hapeville's first tournament appearance, no less. 

No, Hapeville isn’t an Atlanta neighborhood. But in 2023 it added add a nifty public greenspace and splash pad fed by natural springs, while just a few blocks from Hapeville's charming downtown, Porsche’s second phase debuted with a new 1.3-mile handling circuit that’s nothing short of exhilarating. Elsewhere, the thoughtful remake of a 1950s gas station came alive, while Hapeville’s residential explosion continued with projects such as Signal and Serenity, among many other happenings.

Last month, Hapeville garnered just enough nominations for a No. 14 seed—which means it had no easy path to glory. Earlier victories came over West Midtown, Edgewood, and in a post-Christmas nail-biter, East Atlanta.

In the Championship round, Hapeville ended Reynoldstown’s valiant quest for 2023 hardware, capturing 57 percent of a whopping 14,285 votes in the final contest.  

For rising up and winning, Hapeville is the recipient of a year’s worth of good mojo. And the third-annual (virtual) Golden Urby Chalice of Champions!

The Golden Urby Chalice of Champions 2023.

Throughout the end of 2023 and now 2024, Hapeville proved itself exceptionally proud and capable of rallying widespread support.

Here’s permission to keep on bragging, Hapeville, all year long!

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The hallowed pantheon of Best Atlanta Neighborhood tournament winners:

2011: Inman Park

2012: Old Fourth Ward

2013: Kirkwood

2014: Reynoldstown

2015: West End

2016: East Atlanta

***2017:*West End (again)

2018-2020: (forced hiatus)

2021: Mozley Park

2022: Avondale Estates

2023: Hapeville

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The Golden Urby Chalice of Champions 2023.

Subtitle Growing southside city prevails in most patronized Best Atlanta Neighborhood tourney to date

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Landmark downtown tower announces leasing wins to start 2024 Josh Green Tue, 01/02/2024 - 13:15 A landmark downtown building billed as “the South’s preeminent trophy tower” is welcoming the new year with a wave of lease transactions, bucking the trend in recent years of gloomy office predicaments in submarkets around Atlanta.  

Real estate investment firm Banyan Street Capital and its joint venture partner Oaktree Capital Management announced today more than 40,000 square feet in office leases at the 50-story 191 Peachtree building, an iconic highpoint of Atlanta’s skyline for more than 30 years.

Longtime Atlanta developer and investment firm Integral was among the companies to lay claim to 191 Peachtree space. Elsewhere, three of the six new leases—representing 23,388 square feet—are law firms, while two others work in the nonprofit sector, according to Banyan officials.  

Courtesy of Banyan Street Capital

Built in 1991 and renovated in 2016, the Phillip Johnson/Burgee Architects-designed building includes more than 1.2 million square feet overall, according to CBRE.

Today, 191 Peachtree counts more than 20 law firms and 12 nonprofit organizations among its tenants.

Features of the tower include a grand lobby off Peachtree Street with Land of a Thousand Hills coffee and bakery, Alma Cocina restaurant, the Commerce Club on the 49th floor, and access to the Ritz Carlton’s food and beverage program next door. Banyan heads are also compiling plans to renovate the lobby to create more gathering places for tenants and upgrade the building’s food-and-beverage offerings.  

Bisnow Atlanta reported in July that metro Atlanta’s office vacancy rate had ticked over 28 percent, or 173.5-million square feet, setting a new record for empty office spaces. However, Zac Gruber, president of Banyan’s office division, said demand for office space increased in the second half of 2023 at 191 Peachtree “when many competitive properties [struggled] with pending maturities and liquidity issues.” Gruber called the tower in today’s announcement “one of the best capitalized office properties in downtown, with material term left on our loan and ample reserves built up to deal with future leasing.”

Banyan’s spec suite program is also being implemented at 191 Peachtree, which offers pre-built and speculative office suites. Two of three spec suites on the 40th floor were leased as part of recent transactions, while four more are being marketed on the 37th floor.

Courtesy of Banyan Street Capital

Gruber said the tactic is paying off, in that Banyan is tallying as much as 30 percent of “the new leasing absorption in submarkets where we are most aggressive.” The company counts an 11-million-square-foot portfolio overall.  

Here’s a rundown of the six leases recently signed at 191 Peachtree downtown, edited for space:

• Integral (13,599 square feet), a real estate development and investment firm focused on the revitalization and enhancement of urban communities;
• Coxe Curry (11,719), a fundraising consulting firm serving nonprofit organizations throughout Georgia;
• Daspit Law (5,003), a personal injury law firm;
• Durham Law Group (4,275), a personal injury law firm;
• Mones Law (2,391 RSF), a criminal defense and civil law firm;
• Tull Charitable Foundation (2,381 RSF); The R. Howard Dobbs Jr. Foundation; and the Sartain Lanier Family Foundation. The three foundations “benefit from the collaboration and community feel of a shared office, while also saving on expenses,” per Banyan officials.

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Courtesy of Banyan Street Capital

Courtesy of Banyan Street Capital

Subtitle Spec suite program also underway at 50-story Peachtree Street building

Neighborhood Downtown

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