Hawks in talks on mixed-use complex near Philips Arena (Atlanta: sales, hotel)

[JPD]

Originally Posted by whodean

Not so much

Wow, what a diverse crowd.




















































/s

[HH82]

I wonder if the new gulch development will also include building out the proposed north-south street from Centennial south to Ted Turner or any of the rest of the new street grid we've seen in the old plans.

[cqholt]

Originally Posted by HH82

I wonder if the new gulch development will also include building out the proposed north-south street from Centennial south to Ted Turner or any of the rest of the new street grid we've seen in the old plans.

I am sure any development in the Gulch will look towards the Downtown Master Plan for ideas.
https://plandowntownatl.com/

[jsvh]

$1B mixed-use project planned around Philips Arena

The Los Angeles-based CIM Group will develop at $1 billion mixed-use project around a renovated Philips Arena, Atlanta Mayor Kasim Reed said in an exclusive interview Friday.

...

“I think the development around the gulch is going to be one of the most important developments in the life of our city,” Reed said. “We have been talking about the gulch for at least 30 years.”

Reed was asked specifically whether CIM was seeking acquire the air rights over the parking decks across from Philips Arena from Cousins Properties. He said to contact Larry Gellerstedt, the CEO of Cousins and the 2018 chairman of the Atlanta Committee for Progress – who also attended Friday’s meeting of 25 leading CEOs from the Atlanta region.

Reed also was asked whether CIM would be buying the adjacent railroad gulch owned by Norfolk Southern.

“I don’t have any comments on the real estate aspects,” Reed said. “I don’t want to influence any conversations they are having..”

But he was quick to say that CIM is an ideal partner to build a mixed-use development next to Philips Arena.

“CIM manages complex real estate projects,” Reed said, mentioning the 432 Park Avenue development in New York City as well as projects in Austin and Los Angeles. “They have private capital. They develop first tier projects. They would be considered first rate.”

Reed said he knew the city’s $142 million contribution to the upgrade of Philips Arena would leverage a $1 billion development downtown, and he has been working on this outcome for nearly two years.

“We have been partnering with CIM and the Hawks organization to secure the appropriate tax tools for a redevelopment of this kind,” Reed said. “Just imagine being in a relationship for two years and not being able to disclose it. It was part of the discussion from Day 1 about the future of Philips Arena and changing the experience at CNN Center.”

...

Doesn't sound like there is a lot of MMPT support, but not clear if this project makes it impossible:

...For decades, there have been plans to turn the railroad gulch into a multimodal transportation facility for buses, AMTRAK and commuter trains that would connect directly in the Five Points MARTA Station.

It was unclear whether this development would mean the concept for a multimodal facility was dead.

“This is unlike the other conversations around the gulch, where there were multiple parties with multiple moving parts that were much more subject to complications,” Reed said.

When asked about the future of the multimodal station, Reed said he has “never been lukewarm” about the concept.

“What I realized – there was a lack of support at the state level. Nothing there has changed,” said Reed, adding that a multimodal station development likely would not happen for another 10 years – a concept which he described as a hypothetical discussion.

“Conversations are great,” said Reed, who added he studied the state budget to see if there was a real desire for that project. “Here is a decision you have to make in moments like this. If you have one of the leading development firms in America willing to do it right now and you have a hypothetical idea…(you have to make a choice). “What I believe is appropriate is to have a firm that has a very strong history of working collaboratively and delivering a quality project.”...

[HH82]

Looks to me like he's mortgaging the MMPT possibility in favor of "right now." It doesn't look good for the terminal.

[Atlwarrior]

How foolish for people to think this was overnight. Just like Midtown, there have been ongoing meetings behind closed doors for years about this day. ATL is absolutely about to come into its own unique identity and full maturity. From Peachtree to South to Buckhead. What a run the city is on. My goodness!

[cqholt]

“What I realized – there was a lack of support at the state level. Nothing there has changed,” said Reed, adding that a multimodal station development likely would not happen for another 10 years – a concept which he described as a hypothetical discussion.

No state support, no MMPT. Atlanta and MARTA are not going to fund it themselves, when this is a project that will benefit the entire state. Place the blame on state leaders and GDOT.

[Atlwarrior]

Originally Posted by HH82

Looks to me like he's mortgaging the MMPT possibility in favor of "right now." It doesn't look good for the terminal.

The GDOT has talked about that terminal for years and no movement. Oh well!

[Atlwarrior]

Originally Posted by cqholt

No state support, no MMPT. Atlanta and MARTA are not going to fund it themselves when this is a project that will benefit the entire state. Place the blame on state leaders and GDOT.

Exactly let the State continue to fund their darling majority white suburban district projects. The city of Atlanta is gaining such a multicultural political advancement they can really say screw the State and move forward themselves.

[tikigod311]

“What I realized – there was a lack of support at the state level. Nothing there has changed,” said Reed, adding that a multimodal station development likely would not happen for another 10 years – a concept which he described as a hypothetical discussion.

“Conversations are great,” said Reed, who added he studied the state budget to see if there was a real desire for that project. “Here is a decision you have to make in moments like this. If you have one of the leading development firms in America willing to do it right now and you have a hypothetical idea…(you have to make a choice).

While I want them to keep ROW available open for the future, I can't find much fault in the logic. If the state doesn't have a commuter rail element in their upcoming transit effort, the MMPT is likely dead.