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Old 03-31-2017, 04:31 PM
 
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Quote:
Originally Posted by arjay57 View Post
Could be, but they made $14 million on the property and still stayed in Cobb.
STP is great for people that are looking to flip properties. No denying that. The long term health of that area, not so promising.

Flipping property in Summerhill & South Downtown in the 60s with Atlanta Stadium was coming in probably made a lot of people money too. But those neighborhoods will be much better off now that the Braves are gone.
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Old 03-31-2017, 04:38 PM
 
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Originally Posted by jsvh View Post
STP is great for people that are looking to flip properties. No denying that. The long term health of that area, not so promising.

Flipping property in Summerhill & South Downtown in the 60s with Atlanta Stadium was coming in probably made a lot of people money too. But those neighborhoods will be much better off now that the Braves are gone.
Well, in this case the company that bought the property from Genuine Parts is a marquee business that plans to gut the old building and turn it into a showplace. Apparently they wanted to be closer to Suntrust Park.
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Old 03-31-2017, 04:47 PM
 
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Originally Posted by arjay57 View Post
Well, in this case the company that bought the property from Genuine Parts is a marquee business that plans to gut the old building and turn it into a showplace. Apparently they wanted to be closer to Suntrust Park.
What is the difference in number of jobs and average pay between this new "showplace" and a Fortune 500 HQ?

I have done the math before to show you can make more money selling parking on your lot near a stadium than redeveloping it. I would't be surprised if that isn't a big part of their business model. When land is now worth millions of dollars an acre just for a surface parking lot, property values may increase but that doesn't mean you will get good tenants and a vibrant area 24/7.

We will just have to check back in in a couple decades and see how it is going.
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Old 03-31-2017, 04:58 PM
 
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Originally Posted by jsvh View Post
What is the difference in number of jobs and average pay between this new "showplace" and a Fortune 500 HQ?
jsvh, Genuine Parts didn't leave Cobb. They just moved up the road to a vacant space at Wildwood.

As to the company that bought the property, Brasield & Gorrie is not exactly chopped liver. They are one of the largest privately held construction firms in the nation, with 2,400 employees and over $2 billion in annual revenues.

If this had happened intown people would be doing backflips.
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Old 03-31-2017, 06:29 PM
 
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Originally Posted by arjay57 View Post
As to the company that bought the property, Brasield & Gorrie is not exactly chopped liver. They are one of the largest privately held construction firms in the nation, with 2,400 employees and over $2 billion in annual revenues.
Brasfield & Gorrie and is also the construction manager for STP. Sounds to me like they couldn't find a real outside company that wants to fill the building and deal with all those issues so they got Brasfield & Gorrie a buddy-buddy deal to put a "showroom" in to save face and prevent the building from sitting empty.

How bad would that look if they had a highrise entirely empty out by opening day right next to the park? They need to keep a lid these sort of issues so they don't end up with a mass exodus. I personally know people that are fleeing the area and small offices that are waiting for their lease to end to move out. But you won't be reading in the paper about those. They are too small and don't want to make a big deal out of it anyways. But those small relocations matter too.

Last edited by jsvh; 03-31-2017 at 07:19 PM..
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Old 03-31-2017, 06:43 PM
 
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Originally Posted by jsvh View Post
Brasfield & Gorrie and is also the construction manager for STP. Sounds to me like they couldn't find a real outside company that want to fill the building and deal with all those issues so they got Brasfield & Gorrie a buddy-buddy deal to put a "showroom" in to save face a prevent the building from sitting empty.
I see. Sort of like the 725 Ponce office tower they're building next to Ponce City Market? The 2 million sf towers they built at 1075 Peachtree in Midtown? They Cyan tower in Buckhead? The NASA test stands at Marshall Space Flight Center?

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Old 03-31-2017, 06:47 PM
 
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Originally Posted by arjay57 View Post
I see. Sort of like the 725 Ponce office tower they're building next to Ponce City Market? The 2 million sf towers they built at 1075 Peachtree in Midtown? They Cyan tower in Buckhead? The NASA test stands at Marshall Space Flight Center?

Are those buildings all being bought by the construction manager of a neighboring stadium project to open a "showroom"? I am missing the connection.
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Old 03-31-2017, 07:46 PM
 
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Originally Posted by jsvh View Post
Right. That is why Fortune 500 companies are moving away from STP?



Genuine Parts may move corporate HQ due to new Cobb Braves stadium - SaportaReport
I just show you the CID, the business community wants the stadium there

Last edited by chiatldal; 03-31-2017 at 08:20 PM..
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Old 03-31-2017, 08:27 PM
 
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Originally Posted by chiatldal View Post
I just show you the CID, the business community wants the stadium there
Sure there are many that are happy to get these inflated real estate prices. But no, not everyone in the business community is happy about this relocation. Especially how it all went down.
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Old 03-31-2017, 09:27 PM
 
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Originally Posted by jsvh View Post
Sure there are many that are happy to get these inflated real estate prices. But no, not everyone in the business community is happy about this relocation. Especially how it all went down.
No

dude the CID is the business community there.... I don't know how else to say this.

http://www.city-data.com/forum/47690792-post18.html





Not just real estate prices but generally attracting more people visiting and spending in the area.

The studium is also not solo it's part of a larger project which I get into in a sec


Quote:
Originally Posted by jsvh View Post
I don't think that either. All the stadiums is part of what damaged downtown and drove businesses away.
So what's your complaint? you should glad the Braves left near Downtown...................

One of reason I like this idea because it actually have a mix use component it isn't a isolated stadium. The CoA made little use of the environment around the stadium but rather just another sea of a parking lot.

Normally Stadiums would be equivalent to big box stores, but this more like one that actually try to comply in a more new urban setting. A much better use than what around Turner field now am I wrong?



The stadium is just a anchor apart of something larger, if there wasn't a stadium the mix use around it wouldn't be there.

Also by bringing the stadium and the mix use development attracts more developments.

http://atlanta.curbed.com/2017/1/31/...attery-housing

By adding more mix use developments would increase the density which is what the ARC wants for the Cumberland area because it's already a major employment area. It's also what the Cumberland CID wants.
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