Atlanta Developer Shares Vision for $300 Million Town Center Development

[KenFSU]

^My money remains on significant sitework starting at the District before we see any action at Lot J, Berkman II, the Trio, the Landing, Hart Bridge ramp removal, and maybe even the Laura Street garage at this point.

I'd love to get excited on the District, but I just can't. I'm not seeing it. I'm putting the district up there with East San Marco.

I certainly could be wrong. Exhibit A: The Ambassador Hotel looks like it's actually happening and I thought that was complete nonsense when it was proposed.

Not my news to share, but stay tuned.

It's closer than you think.

The CDD is set up, a master developer and commercial real estate team is in place, and they're on the clock against a Southbank CRA.

Nobody wins if that space sits empty for long.

[marcuscnelson]

Not my news to share, but stay tuned.

It's closer than you think.

The CDD is set up, a master developer and commercial real estate team is in place, and they're on the clock against a Southbank CRA.

Nobody wins if that space sits empty for long.

I like to think everyone would love to be proven wrong by the District. But I'm afraid of everyone losing.

[fieldafm]

I don't know what's the hold up with the Trio.

Labor and logisitics, apparently.

Appears to be a phased construction situation where the Barnett crew will move on to the next building once they're done.

The Trio site is being used for staging and storage for the Barnett as well - the Marble Bank building looks like a Home Depot inside.

I think we'll start to see movement on the Trio pretty quickly as the Barnett winds down, but I still don't know what the hold up is with the garage. It's permitted and DDRB approved, and Vystar and the Barnett tenants are going to need it sooner than later.

Vagabond has starting working with an architect on their Barnett build-out as well. They're hoping to be in by Fall.

Don't know where this narrative began that the parking garage is somehow delayed. It's the second stage in a three stage development. The Barnett building renovations are not fully completed. If people think that construction workers and subcontractors are just standing around on the street looking for work, then they aren't aware of the reality of the commercial real estate market today.

Considering that the majority of the parking garage will use pre-cast concrete, construction will be quicker than the Barnett (probably 9-12 months)... and construction at the Barnett is actually well ahead of schedule. For Pete's sake, the building is actually partially OCCUPIED right now with UNF up and running on floors 4 and 5. To put that in perspective, the building has been empty for nearly 20 years, and now has a tenant occupying the building after about 13 months of construction. That's actually quite impressive.

[acme54321]

Rode by the Barnett on my bike the other day for the first time in a couple of months.  Really impressive what they've done.  Got a lot better look than the normal fly by when driving.

[Captain Zissou]

Considering that the majority of the parking garage will use pre-cast concrete, construction will be quicker than the Barnett (probably 9-12 months).

They should hire the guys who built the SoBa garage.  Construction timeline of 9-12 weeks.

[fieldafm]

Considering that the majority of the parking garage will use pre-cast concrete, construction will be quicker than the Barnett (probably 9-12 months).

They should hire the guys who built the SoBa garage.  Construction timeline of 9-12 weeks.

Not having to bring the entire site up to grade and having a brand new retention pond nearby thanks to FDOT certainly helps.

[KenFSU]

Don't know where this narrative began that the parking garage is somehow delayed.

Straight from the developer.

The intention was for the garage to be completed at the same time as the Barnett.

As stated in the original Southeast/Molasky press release:

"Completion of the new parking facility is scheduled to coincide with the opening of the Barnett Building in the last quarter of 2018."

http://www.southeastgroup.com/news/2017/10/15/construction-begins-on-barnett-national-bank-and-laura-street-trio-buildings

And reiterated throughout the DDRB approval process:

"The developers expect to complete the [garage] in late 2018 or early 2019 to coincide with the completion of the Barnett Bank Building."

https://www.jaxdailyrecord.com/article/final-designs-for-hotel-parking-garage-conceptual-design-for-jones-furniture-co-building-going-before-ddrb

Timelines and labor supply can obviously change, but just looking at the moving parts here, it feels like we're going to have at least a 500-space deficit if the garage doesn't start soon.

The Barnett apartments should be move-in ready by fall, and the residents are supposed to have between 100 and 110 spots in the new garage. And Vystar plans to have all of its employees moved downtown by December, and has signed a long-term lease for 400 parking spots in the new garage.

Not sure where everyone's going to park for the better part of 2020 if construction of the garage takes 9-12 months and doesn't begin until the Barnett is completed.

Although there is one temporary possibility that is almost too horrifying/dark/ironic to even consider...

[fieldafm]

Guess that's the difference between reading press releases, and talking to the general contractor and having an idea of how construction really works. And in particular, I wouldn't rely on most things said at DDRB. I could rattle off at least a dozen things said at DDRB over the last 5 years that were outright fabrications, without having to think too hard.

I also wouldn't take the 'Vystar will have all their employees downtown by the end of the year' press release at face value either. They won't even be starting work on the Life of the South building until likely late 2020.

I mean, if we're talking about fluff press releases and timelines, The District would be teeming with 2,000 residents both young and old living some kind of utopian, healthy lifestyle by now