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Midtown Market Update Presentation
Transcript of Midtown Market Update Presentation
History of Supply & Demand Midtown Plaza Colony Square Pershing Plaza The Peachtree Building Bank of America 1100 Peachtree 201 17th Street 217 17th Street 999 Peachtree Atlantic Center Plaza Atlantic Center Plaza One Atlantic Center One Peachtree Pointe 10 Tenth Street 1180 Peachtree $20-$25 Per SF Buildings Promenade II $27.50 -$30 Per SF Buildings 1075 Peachtree Two Peachtree Pointe $25-$27.50 Per SF Georgia 400 Improvements Ponce City Market 77 12th Street Apartments (12th and Midtown) The Offices at Ponce City Market Offer:
Up to 450,000 square feet of Class-A office space
Up to 74,000 square feet available on a single floor
Secured access to office floors with dedicated covered parking on office floors
Indoor and outdoor shopping areas with a variety of local, regional and national retailers and service providers
Food market with regional and local restaurants
On-site health club, including a track, pool and sport courts
Furnished corporate apartments 22-story, 330-unit apartment tower that will have 20,000 square feet of ground-level retail space curve along 12th Street and Crescent Avenue. It’s Phase III of the 12th and Midtown development.
The property is now pre-leasing apartment space with an initial opening of the sixth through ninth floors scheduled for May 2013 and the anticipated completion of remaining floors and clubhouse amenities by October 2013. The 23-story 320-unit apartment building SkyHouse Midtown is being developed by Novare Group and the Batson-Cook Development Company at the corner of West Peachtree and 12th streets. SkyHouse Midtown also will include 8,400 square feet of ground-level retail space (mostly facing 12th) in addition to the free-standing parking deck.
It will boast Atlanta’s tallest amenity deck, have a pool 230 feet above street level, and provide 360-degree unimpeded views of Atlanta’s skyline. Construction is expected to be completed for delivery by January 2013. Hilton Garden Inn &
Homewood Suites The 12-story, dual-branded Hilton Garden Inn and Homewood Suites by Hilton Hotels is at the corner of Williams and 10th streets. Combined, the hotels will have 226 units and will feature a 110-seat restaurant and lounge.
The hotels are set to open in the first quarter of this year. Land Sales and Sites Cousins closed on land at North and Peachtree
2.14 acres; Sale Price : $11 M, $105/SF
Photon Therapy Center (prostate cancer specialty)
Cost : $200 Million project
Emory will operate but is not owner 151 Ponce – Corner of Ponce and Piedmont
$6.51M for the 2.5 acre assemblage
Multifamily development: 320 units, 8,000 SF retail Midtown Market Update Campanile 1170 Peachtree 171 17th Street $30-$35 Per SF Buildings 675 Ponce De Leon Ave NE 97 10th Street NW 1080 West Peachtree St Ne Skyhouse Midtown Apartments 10th Street Piedmont Rd Existing Parking Deck
To Be Developed: 500K SF Midtown Square
Land: 4.0 Acres
To Be Developed:
3.0 MM SF The Campanile Building
Mixed Use: Office/ Retail
Office: 40K SF
To Be Developed Retail: 425K SF Peachtree St West Peachtree Peachtree St. 1400 Peachtree
Mixed Use: Office/ Hotel
Land: 1.69 Acres
To Be Developed: 800K SF Uptown Rhodes Tower
Mixed Use: Office/Residential
Land: 2.0 Acres
To Be Developed: 900 SF Spring St Ansley
Land: 1.70 Acres
To Be Developed: 350K SF Peachtree St Midtown Atlanta Innovation District 1) Intellectual Talent
Emory University Hospital Midtown
Plus talent from regional higher-ed 2) Research Strengths
GTRI - $200+ million annual research for 200+ industry/government clients
EI2 - primary GaTech outreach to business, industry, economic developers, & entrepreneurs
ATDC - nationally recognized GaTech accelerator
VentureLab - GaTech program for commercialization
Flashpoint - newest GT accelerator teams entrepreneurial stars with mentors 3) Existing University Collaborations
Predictive Health Institute - Midtown Hospital, GT, and Emory collaboration
St. Joseph's Translational Research Institute - medical device and therapeutics innovation center
Center for Advanced Brain Imaging - GT and GA State shared
Atlanta Clinical & Translational Science Institute - Emory, Morehouse School of Medicine, and GT collaboration 4) Hiring Opportunities
6,000+ jobs estimated to be in tech-related Midtown businesses
New Opportunity Zone created in 2011 provides new or existing companies within its boundaries incentives and benefits for job creation
38% of city population is age 20-30 vs 27% US avg.
46% of residents age 25+ have Bachelor's or higher; 56% of those age 25-34 5) Recent & Upcoming Success Stories
Panasonic Automotive Innovation Center - Incubator for next-gen auto infotainment technologies
1st US clinical trial @ Emory Hospital for flourescent compound to guide brain surgeries
Dept. of Veterans Affairs and GaTech - partnering to address Health IT Issues, accelerate integrated solutions, test new products, etc.
Proton Treatment Center - groundbreaking form of cancer treatment coming to 615 Peachtree St.
High Performance Computing Center for Modeling and Simulation - 20+ story office building to foster new technology, drive innovation, and provide computing and data center space to commercial companies The Midtown Alliance is embarking on a comprehensive signalization program for vehicles and pedestrians. It is 100% funded by GDOT for 3 years at $1 million annually, and involves signalization coordination and on-call responsiveness to issues and maintenance. The Alliance also received two ARC grants for $3.3 million. One of the projects will focus on Spring Street (north of 17th) to Peachtree St. The other is for pedestrian improvements throughout the district. They have also created more than 700 treewells as part of their streetscapes, and will be piloting an "Adopt a Treewell" program through which property owners may beautify and maintain treewells adjacent to their properties. The Juniper Street streetscape project will include a barrier-separated bike lane. Atlanta's Midtown Mile Presented To: Window of Opportunity