Atlanta Relocation Archives

Colony Square to Take The Roof Off With Renovation

December 2, 2015 by Thom Abbott

I have said many a time walking through the “mall” at Colony Square in Midtown Atlanta….”what a waste of space.” I guess someone finally overheard my conversations with myself!

Colony Square to Take The Roof Off With Renovation

North American Properties ( think rework of Atlantic Station and the amazing suburban Avalon fame) along with Lionstone Investments closed this week on a $170 million purchase that will redevelop Colony Square and says it will take the roof off the retail core. i.e. The Mall.

Located at 14th and Peachtree Street, this point in Midtown has often been called the heart of Midtown and the densest part of Midtown Atlanta. The complex includes two office towers with over 700,000 square feet, some 160,000 square feet of retail space, along with the 467-room W Midtown Hotel, and Hanover House and Colony Square Condominiums.

“Over the decades, the Midtown neighborhood around Colony Square flourished while the iconic building became sleepy and tired,” Mark Toro, managing partner of NAP, said early Wednesday. “ On July 4, 2018, the 50 ^th anniversary of Colony Square’s groundbreaking, we will celebrate the grand opening of the reimagined Colony Square. We will engage with the city, with the street and with pedestrians, and it will fundamentally change the experience of living and working in Midtown Atlanta.”

In the same fashion that Toro reached out to the Midtown Atlanta community after they purchased Atlantic Station, the development team is seeking feedback from the community as well as known urban design experts the likes of Jeff Speck, author of Walkable City and Fred Kent, founder and President of Project for Public Spaces. The team is again using social media to gain this input, using the hashtag — #ReimagineCS.

“We are extremely pleased to have Colony Square as the second investment in our new value add fund,” Lionstone Investments Senior Vice President Tom Paterson said in the release. “We look forward to working with NAP to re-engage the project to the street level and provide a truly differentiated use environment in Midtown. Our goal is to create something that is truly irreplaceable at the corner of 14^th and Peachtree.”

“As with our other mixed-use projects, we will curate the right tenant mix, layer in resort-inspired hospitality and exceptional experiences, to significantly and positively impact the value of the development,” Toro said. “Our first step is to listen to the community stakeholders and guests as they are integral to the transformation. We look forward to premiering Colony Square – the Sequel.”

Now, they sort of misunderstood what I was saying. I often thought that the indoor space just needed to be re-worked to be a great shopping/dining destination that would be in air conditioning for the Hotlanta summer heat, and heated when Midtown gets a bit chilly. But if the Atlantic Station turnaround, and Avalon are any indication of what this team plans to do to Colony Square…then I can hardly wait! Let’s get the camera out and be ready to capture the transformation!

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Atlanta Relocation Guide | What Is the Weather Like In Atlanta?

November 24, 2015 by Thom Abbott

There is a long list of things to like or love about living in Atlanta. And the weather ranks right up there. You could say that Atlanta is a city for all seasons, since we do have all four of them…Winter, Spring, Summer and Fall. Now, live here for awhile and you might find (or agree) that some of them are longer or shorter than others. Indeed.

Atlanta Relocation Guide | What Is the Weather Like In Atlanta?

Winter …. This season is supposedly from December to February. How do you define Winter in Atlanta? When the temps get to freezing? Then it can start in November! And the end of Winter is no different. It can run into March, and our last date for a frost is always the 2nd week or so of April. So, for those wanting to get crazy planting flowers and such….you just have to hold on till that frost window is gone. But you can have many days that are in the 60’s for a high and only 40’s for a low.

Does Atlanta get snow? Yes we do. Sometimes a little. Sometimes a lot. And it does not take much snow in Atlanta to make the city freak out and shut down. But that is because it is often in the form of freezing rain, followed by snow, or the other way around. And in a city with hills and few snow plows, it does become a challenge to get around. If snow is in the forecast, you just plan ahead for groceries, have your car gassed up (not that you will be driving anywhere..I just know that from growing up in Montana!) and plan to work from home for a day or two. If you have an employer that insists you get to work, you might want to have a talk with them.

Spring… This season is supposedly from March to May. You know Spring is in the air, when you see yellow clouds and yellow dust covering everything. This, my friend is pollen. And he may not be your friend if you have allergies! But, it is a small price to pay for the beautiful, wooded canopy that covers the city!! Spring temps are in the 70’s and maybe 80’s….but it is this season that just one day changes and …BAM!!! It’s hot and it’s….

Summer… Anyone who has ever spent time in Atlanta during the Summer, knows how Atlanta was nicknamed “Hotlanta!” And this is one reason we stress to condo buyers that your building have a pool. You WILL thank me later! One advantage is Atlanta is less than 2 hours from the North Georgia Mountains…where the temp is always much cooler. And you will find lakes all around Atlanta, both almost in the city (Lake Lanier and Lake Allatoona) and in the mountains, and central Georgia, like Lake Oconee and Lake Sinclair. If you can afford to have a second home, a lake or mountain cabin is awesome…and you are sure to have lots of friends!

Fall… from September to late November is simply breathtaking. You can take a drive to the mountains to catch Fall colors, but you really only have to drive through any neighborhood and you will catch vibrant colors everywhere!! The temperatures moderate and make outdoor activities very enjoyable.

As you can see, Atlanta has the joy of enjoying all the seasons, our Winter not being as harsh as being up North, but not having constant warm weather you may find in Florida. It really is a great part of living in Atlanta!

The Future of Transit In Metro Atlanta

November 9, 2015 by Thom Abbott

MARTA Fare Increase October 1, 2011 Do you often feel like elected officials really never LISTEN to the people that elect them? Yeah, I thought so!! And one topic that seems to fall on may deaf ears is….

I subscribe to a newsletter that is put out by a citizens transit group, called Citizens For Progressive Transit. It always helps me get a pulse on the transit talk that is happening (but maybe not being listened to) around the Metro Atlanta Region.

The recent issue is out and has some great topics…

Setback For The Streetcar
You Can’t Get There From Here
Atlantans Want Transit (The best example of officials not listening — i.e. Gwinnett County Chairwoman Charlotte Nash
Regarding Henry
Uncluttering The Corridor
All Stops

You can read all the articles in the newsletter in the link below.

Citizens Transit Newsletter

Is Buying a Condo a Wise Investment?

November 9, 2015 by Thom Abbott

Plaza Midtown Atlanta Condos For Sale Making a home purchase is the single biggest investment you will ever make….well, unless you are already a millionaire. In my years of selling real estate, I’m helping you make that decision on that investment. We work together to find a house or condo that fits your needs, and your budget, and soon, you call it home. I specialize in condominiums and I’m often asked…

Is Buying a Condo a Wise Investment?

Well, you can actually ask the same question about a single family home, depending on where you are buying!

But, let’s look at buying a condo in Midtown Atlanta. When you walk the streets, and see all those cranes, you might not think so. But 99% of those cranes are building FOR RENT apartment buildings, NOT FOR SALE condominiums. So right now, you have to look at re-sale condos if you are looking to purchase. (The exception is One Museum Place, starting at $800,000 and Seventh Midtown, starting at $740,000 …price points that are not for every buyer!)

So I’m asked, “What will happen when any of these apartment buildings convert to condos?” Good question, and not so easy to answer. But based on the current construction costs, if any of these buildings were to convert, their sales prices would most likely be much higher than any of the current resale buildings. So, the demand for condos in Midtown will most likely remain fairly strong, given the limited inventory of both resale and new construction.

After taking a hit in the housing downturn, condos in many major cities are seeing some great price appreciation, Atlanta included. A report for Zillow (hey, you know I don’t always trust what comes from Zillow…..) shows that the stigma against buying a condo has changed, and the appeal is back, especially amongst younger buyers. The chart below gives you an indication of the appreciation in Atlanta and other major cities!

But there are other factors to consider. If you think you job might have you headed to another city in the next couple years, buying might not be the right choice for you. If you purchased a $250,000 condo today, I’m not 100% sure it would be worth $270,000 in just a year. And remember, when you sell, you may be looking to pay those closing costs YOU asked for when you bought, along with the marketing fees.

But I tell all my clients that buying long term, is a much better decision than renting and tossing that money out the window each month. I’ve seen many Midtown Atlanta condos go up in value in the past few years. The increase in value has slowed somewhat from what it was, but the prices are still going up. I’ve had a buyer pay $170,000 in 2013 and the same condo is now selling in 2015 for around $240,000.

I’d still say that buying is a wise investment.

Norfolk Southern To Add 250 Jobs to Midtown Atlanta

September 17, 2015 by Thom Abbott

Real Estate Biz Now is reporting that Norfolk Southern is seeking some $75 million in revenue bonds from the City of Atlanta’s economic development arm, Invest Atlanta, to renovate it’s Midtown offices at Promenade.

Norfolk Southern To Add 250 Jobs to Midtown Atlanta

Documents filed with Invest Atlanta state that Norfolk Southern will relocate some 250 employees from Virginia to Atlanta, and want to do a full renovation of their office space, including everything from plumbing, roofing, energy and architectural upgrades.

The new jobs at the 38-story Midtown tower will have an average wage of $86,000 per year.

MyMidtownMojo.com welcomes these new Atlanta residents! We are ready to help you find the perfect Midtown Atlanta condo, or single family home to call home here in the ATL!

Could GE Headquarters Join NCR Corp in Midtown Atlanta?

August 25, 2015 by Thom Abbott

Seriously, you have to love the buzz that Midtown Atlanta is getting these days! All these plans and proposals (some definite, like NCR and some still out there like GE) make for exciting times in the real estate market! Buyer and Sellers….Beware!

Could GE Join NCR Corp in a new Midtown Atlanta Headquarters?

The Atlanta Business Chronicle reported today that even though GE has not yet set their little footies in Atlanta, there are some key players (a.k.a. incredible sites) that want to be ready to show them the town…Midtown Atlanta that is!

GE is drawing interest from multiple cities (Dallas being one of them) but the City of Atlanta and Georgia has already met with GE. The potential relocation comes on the heels of a recently passed tax package in Connecticut that did not sit to well with GE. CEO Jeffery Immelt formed an exploratory committee, seeking a more “pro-business environment.” And we know that Governor Deal and Mayor Kasim Reed are all about the business in Georgia and Atlanta!

The ABC article included a rendition of how the GE headquarters could look as part of Atlantic Station. Here is that idea…

Ok….this is awesome news. Now, will some architect PL-E-E-E-E-E-ZE step up to the plate and design something that will truly WOW the 300,000 cars on the Downtown Connector Daily!!!! I mean….ANOTHER square block building? The article states:

GE leadership sees a move from Connecticut as possibly the best opportunity to remake the company, turn away from appliances, and put a greater emphasis on software development, industrial technology, or manufacturing, Atlanta Business Chronicle has reported.

Well then…if you want to remake your company, start with a truly landmark office tower that says, “Oh heck yeah…we are HERE!” And of course this is yet another location that is prime to tap the talent pool that IS Georgia Tech!

To give you your bearings on where this could possibily happen…the photo below I took when the Cirque Du Soleil was set up…so the proposed GE tower would be about where the white tents are.

So, you can SEE why that is a killer location for an architectural masterpiece!

Let’s keep our fingers crossed that Midtown Atlanta scores another great corporate relocation….and that Midtown Atlanta might score something impressive for it’s skyline!

Colony Square to Take The Roof Off With Renovation

Atlanta Relocation Guide | What Is the Weather Like In Atlanta?

Norfolk Southern To Add 250 Jobs to Midtown Atlanta

Could GE Join NCR Corp in a new Midtown Atlanta Headquarters?

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