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Old 12-20-2014, 12:43 AM
 
Location: Mableton, GA
165 posts, read 123,597 times
Reputation: 245

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Quote:
Originally Posted by MattCW View Post
My only concern with this is since this is now private property, the new owner will "ban guns" which of course without any security screening means the crime rate will probably increase over what it currently is.
Can't be "progressive" if you don't ban guns....
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Old 01-30-2015, 02:58 PM
 
10,000 posts, read 6,995,102 times
Reputation: 3068
Behind paywall but available on as a "Social Freebie" on their Facebook: Reed: Atlanta is the dominant economy in the Southeast (Video) - Atlanta Business Chronicle

Quote:
The proximity to MARTA helped in the city's pending sale of Underground Atlanta to WRS Inc. for $25.75 million. T. Scott Smith, CEO of WRS Inc., has said the development will total about $150 million. "The Underground development is going to be one of the five most important things that happen during the next three years," said Reed, who is confident the deal is going to close. "Nobody is going to believe what Underground looks like when it's done. Because, you all haven't seen what I saw."

Reed credited Kevin Rogers, an associate of WRS, for having the vision for the redevelopment of Underground. "This guy saw something that nobody else saw and went and persuaded people," Reed said. "Who would have ever thought that Underground Atlanta would attract $100-$200 million worth of new investment?"
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Old 01-31-2015, 06:00 PM
 
1,585 posts, read 1,665,347 times
Reputation: 1197
He sounds confident. This project has the potential to be more transformative than PCM or BA. I've been of the opinion that South Downtown was destined to be one of the next hip neighborhoods for a while.

With the burgeoning arts community, the planned redevelopment of 222 Mitchell Street, hopefully an eventual MMPT and the redevelopment of UA, I think it could explode. When that happens neighborhoods like Vine City will heat up. The next few years will be very exciting.

Although I don't have as much confidence in Reed as I once did, he has made some good moves towards getting city-owned properties sold and redeveloped.
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Old 02-10-2016, 03:04 PM
 
10,000 posts, read 6,995,102 times
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City, developer still committed to Underground Atlanta deal

Quote:
Despite another delay in the closing of the Underground Atlanta sale to WRS Realty, both the city and the developer said they are committed to the deal.

The transaction has gotten held up over a proposed land swap between the City of Atlanta and the State of Georgia.

The city has committed to the developer that the sale would include a state-owned parking facility located in between Underground and Georgia State University. And the state is interested in swapping that for the Bobby Jones Golf Course in Buckhead.

...

“If you get to a point where you can’t come up with an agreement that satisfies everybody, then we move forward with the purchase of the parking deck from the state and just travel down that path,” Reed said.

Reed said there have been appraisals of both the land the city wants from the state and the Bobby Jones Golf Course. Both are valued at about $10 million.

“We have the $10 million to buy the parking deck,” Reed said. “We will close the Underground Atlanta transaction in first quarter, definitely within the second quarter. It leaves Underground fine.”

Scott Smith, CEO of WRS Realty of South Carolina, said he is hoping the sale of Underground will happen in March, and he understand that the parking facility will be part of the deal.

“It’s a very important part,” Smith said. “Our plans are to use it for development when we get it. There would be a parking component to it. We are talking about adding a large grocery store down there along with 900 to 1,000 multi-family and student housing units.”

Smith called the area “overparked for what’s there now,” but not for the $350 million to $400 million development WRS has planned for Underground.

...
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Old 02-10-2016, 03:25 PM
 
Location: Prescott, AZ
5,463 posts, read 2,784,945 times
Reputation: 2194
Good to hear that they're still moving forward with this. I wonder what the State would do with a Golf course...

I look forward to seeing them break ground down there, and seeing what all gets set up.

Edit: the state wants to do some rework and open the course up for universities to use. The city is A-Ok with this, and is hoping to do a land swap.
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Old 02-10-2016, 03:27 PM
 
10,000 posts, read 6,995,102 times
Reputation: 3068
Quote:
Originally Posted by fourthwarden View Post
I wonder what the State would do with a Golf course...
Probably the same thing they do with their other golf courses: Georgia State Park Golf Courses | Georgia State Parks
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Old 02-10-2016, 03:30 PM
 
Location: Prescott, AZ
5,463 posts, read 2,784,945 times
Reputation: 2194
Quote:
Originally Posted by jsvh View Post
Probably the same thing they do with their other golf courses: Georgia State Park Golf Courses | Georgia State Parks
Yeah, the article talks about how the state is going to set it up for University games and such. Makes sense to me, and is just more property the city doesn't really have to deal with. Reed said that the city could just cover the $10 Mil, but would rather do the property exchange. I think that's a fine idea.
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Old 02-11-2016, 07:19 PM
 
4,013 posts, read 2,328,312 times
Reputation: 1967
Good news. I was getting worried about this project
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