Midtown Atlanta News and Events Archives

Lime Fresh Mexican Grill Lands Key Midtown Location

November 26, 2011 by Thom Abbott

I posted about Lime Fresh Mexican Grill coming to Atlanta back in December, 2010. Well, it now seems we will be losing one good Midtown Atlanta restaurant…in hopes of another.

Lime Fresh Mexican Grill (company website here) will be taking the space currently occupied by The Bake Shop at Peachtree and 8th Streets in Midtown Atlanta. The permit filed with the City of Atlanta indicates they will spend some $90,000 to rebuild the current space.

So goes a breakfast spot in Midtown Atlanta for another Mexican dining option. Hmmmm.

BTW, the owner of Bake Shop would not indicate if they are opening in another location.

Atlanta Condominiums. Will They Rise Again?

November 17, 2011 by Thom Abbott

Whether you are new to the Atlanta condo market, considering a move to Atlanta, or have been here for the “ride” the last few years, you know that our market has suffered all the same troubles taht the other real estate markets have gone through. The question for Atlanta Condominiums…Will They Rise Again?

Atlanta has gone through the less than bright economy, tightened lending, and buyers with Deer Headlight Syndrome(DHS). What is DHS? It’s kind of like a deer in the middle of the highway when the car lights hit it…..they just freeze,blinded by the light and unable to move. We’ve even had some developments go to foreclosure (not a developer issue but a lender issue in this case) and now watched them return to the market.

Atlanta condominium sales are up over last year, but prices are down. So, Atlanta Condominiums, will they rise again?

Take a look at some current inventory numbers. In the Intown Atlanta Markets, there are currently 1,230 listings of attached homes priced at $300,000 or less. (Intown is defined by Areas 21, 22, 23 and 24 in FMLS) The number of unsold units in active condominium communities is at its lowest point since 2003.

New developments are scarce indeed. In the Midtown Atlanta Real Estate Market, you have The Atlantic Residences, 1010 Midtown, White Provisions, Viewpoint Midtown (only about 5 homes remain here) and on the fringe of Midtown, The Brookwood.

2012 very well may be the year that the prices start a climb. Inventory is really low! A search today showed some buildings with as little as 6 homes available! Buyers, once cured of DHS will suddenly realize the options available to them are not as much as they thought.

2012 and Atlanta Condominiums. Perhaps the well know Atlanta phrase says it best….”the Pheonix rising from the ashes.”

Two Luxury Apartment Towers Planned for Midtown Atlanta

November 16, 2011 by Thom Abbott

Well it seems that construction cranes will soon be part of the Midtown Atlanta skyline once again! Yippie! Two Luxury Apartment Towers are planned for Midtown Atlanta. And oddly enough, on the same side street off of Peachtree Street — 12th Street!

Daniel Corp (Birmingham, AL) and Selig Enterprises, Inc are set to break ground next month on an $82 million glass tower which will feature 20 stories, 330 homes and condominium-like amenities. Located at 77 12th Street, it’s the next phase of the massive 12th & Midtown development started by the same group. Plans for the 17 acre development stalled after the construction of the Loews’ Hotel, 1075 Peachtree (office tower) and 1010 Midtown Condominiums. Daniel Corp has leased out some of the unsold condominums as Midtown Atlanta condo sales have skidded.

This new construction is a good thing for Midtown Atlanta an several fronts. “Atlanta got caught up in the condo boom, but there’s a shortage of market-rate apartments,” said Steve Baile, Senior VP for Daniel Corp in an article in The Wall Street Journal. “We thought it was time to test the market.” I’ll agree with that one.

Secondly, new construction in an area is a signal that things are improving. And there is a shortage of rental units in Midtown Atlanta. Most people looking to rent in the area must rely on private rentals in condominiums buildings. Most all of the Midtown buildings are at rental capacity (HOA’s restrict rentals to 20-25% of the homes in the building). There are but a few major apartment complexes in the Midtown area. And those buildings run a 7.2% vacancy rate.

A second apartment tower has also been planned by Novare Group, made most “famous” for their condominium projects of recent such as Viewpoint, Spire, Metropolis, The Atlantic and Twelve Atlantic Station….just to name a few! Novare’s Sky Tower will sit on 12th Street, between West Peachtree and Spring Streets. Those plans call for a 23-story building with 320 homes. Their plans also call for retail space along 12th Street. If you’ve walked through this area, you know it needs some serious sprucing up, and BOTH of these buildings may very well help spur other businesses to open in this somewhat desolate part of Midtown Atlanta. All of the previous developments have focused on Peachtree Street, or close proximity.

Daniel Corp is planning to rent apartments starting at $1500 for a one bedroom and $2200 for a 2-bedroom. I’ve found some challenges in getting potential tenants to pay those kinds of rates in current Midtown Atlanta condo buildings, so it will be interesting to see if the proposed rates are indeed “market rates.”

Construction cranes have already returned to Midtown. A crane towers over the site of the new Hilton Garden Inn/Homewood Suites that is going up at 10th and Willams (Downtown Connector).

Two Luxury Apartment Buildings for Midtown Atlanta!

One Georgia Center Midtown Atlanta Sold

October 27, 2011 by Thom Abbott

One Georgia Center Midtown Atlanta Cousins Properties has sold its Midtown Atlanta tower One Georgia Center for $48.6 million, or about $129.50 per square foot.

Government Properties Income Trust of Newton, Mass. acquired the 28-story office tower at 600 West Peachtree Street. The deal closed Sept. 30.

Cousins bought the building 11 years ago for $35 million.

It seems commercial real estate is moving along in Atlanta!

Atlanta Bar Tours Presents Scary Party 2 Pub Crawl Midtown ATL Friday, October 28

October 26, 2011 by Thom Abbott

Scary Party 2 Pub Crawl Midtown Atlanta It’s is that time of year again when the freaks, ghouls and goblins wear very little and scare you at late night parties. Last year 1300+ brave souls came to midtown for one of Atlanta largest Halloween bashes and now its time for 2nd installment! Scary Party 2 Pub Crawl
This Halloween event includes: admission into 7 Bars/clubs, 5 included drinks at stops, live raffles, drink/food specials, and 3 costume contests at Cosmo Lava after party!
Midtown Bars & Clubs Participating: Cosmo Lava, Front Page News, Flip Flops, RI RA, Tin Lizzy’s, Sutra, & Deadwood Saloon.

Atlanta Bar Tours, Trend Setting Productions and USA Entertainment Presents: Scary Party 2 Pub Crawl (Midtown Crescent Ave area)
Registration 6pm-12 at Deadwood Saloon- 66 12th Street NE
3 Costume contests with cash & great prizes @ Cosmo Lava After party!
Your Event Wristband Gets You Entry in all participating Bars & Clubs for the Night.

Live raffles at Tin Lizzy’s and Front Page News 2 night stay Planet Hollywood Las Vegas and 2 Rt airfare tix on Vision Airlines at 9pm sharp. Must have checked in used drink ticket at one of 2 bars before 9pm to qualify.

General schedule of night
6-12 Check in @ Deadwood
6-9pm Tin Lizzys and Front Page News
9-12 Ri Ra, Flip Flops & Sutra
After Party 12-3 Cosmo Lava 1230 at Cosmo Male, Female and Group costume contests with great cash & prizes TBA!

Costume contest winners can WIN prizes like:
Cash
3 night stay Ceasars Las Vegas
2 night stay Planet Hollywood Las Vegas
2 RT tix on Vision Airlines

For tickets
https://xorbia.com/e/scarypartypubcrawl/
$10 advance increase a week before 10/21 to $15 and will be $20 Wed 10/26 midnight door price TBA
*subject to change or increase at anytime
**21 and up event

Ticket includes event wristband, 5 hosted drinks at stops w tickets, crawl map, raffle, and costume contest!

www.AtlantaBarTours.com

Atlanta Bar Tours is home of Atlanta’s best pub crawls for over 8 years is run by 2 ATL life long residents. ABT produces themed crawls for Halloween, Snuggies, St. Patty’s Day, Mardi Gras and more!! ABT is known for our Atlanta college football weekend crawls for SEC and Kick-off games! ABT also does wine crawls/strolls with upscale restaurants in Vinings, Midtown, Buckhead etc.

Personal Safety Should Always Be First In Your Mind

October 23, 2011 by Thom Abbott

Midtown Blue Midtown Atlanta is home to many people. I know. I’ve sold a few of them their homes.

It’s also home to many “day-time dwellers” we call the office workers. They flood into the city in the morning and then escape (if you want to call it that) to the tree-lined burbs and cookie cutter homes of the outlying counties around Atlanta.

But, whether you call Midtown Atlanta home, or work here, day or night, it is always worth reminding you…It IS a big city. And as such, you should pay attention to the surroundings around you. Of particular importance is what you leave in your car. When in ANY metropolitian area, not just Atlanta, you should “Clean Your Car” and not leave anything in plain sight. You are just asking for a window to be broken by a passing-by thief looking for a few quick bucks.

Both Midtown Alliance and the Midtown Neighbors’ Association created “Safety Tickets” as a reminder to residents AND visitors to the area to make sure you clean your car.

Never hurts to have a little reminder.

MNA Safety Ticket

HomeSmart