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Old 04-07-2011, 03:55 PM
 
Location: ATL
4,688 posts, read 6,435,339 times
Reputation: 1804

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Developer: Modifications for Streets of Buckhead *| ajc.com


Oliver told the audience he’s “98 percent” certain he’ll own the six-block project by month’s end. Cranes will begin moving by year end or in early 2012, he said. Planning costs are high, he said, because some architectural drawings hadn't been completed, and he’s making “serious modifications” on other portions.
Plans still call for two luxury apartment towers, shops, restaurants and office space. Oliver said he's also considering a Venezuelan-based theater concept, how to make the pedestrian experience very "intimate," and how to incorporate a lot of indoor/outdoor dining.
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Old 04-08-2011, 12:20 AM
 
Location: Johns Creek, GA
11,953 posts, read 46,151,803 times
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Quote:
Originally Posted by tonygeorgia View Post
Cranes will begin moving by year end or in early 2012
Yeah probably closer to when pigs fly. But I digress-
If these statistics are correct (report June 2010) for the City of Atlanta:
2009 Population 529,430
# of Households 212,891
Average HH Income $77,170
Median Age 35.48
Unemployment Rate 13.4%
Previous Growth 2000-2009 27.1%
Projected Growth 2009-2014 12.3%
And the Atlanta economy is underperforming compared to the national economy. Construction, manufacturing, retail and financial services are still suffering from double-digit employment declines, with sharper payroll declines in retail trade and financial services in the third quarter than in the second. Credit quality is also worsening and delinquency
rates are higher than the national averages. The unemployment rate has been above 10% since June 2009.
Retail trade is likely to retreat further (current retail vacancy rate is about 11%) because of slack demand and lack of credit. Chapter 7 personal bankruptcies have spiked recently, in part due to the expiration of unemployment benefits. Worsening credit quality and the faltering banking industry in the metro area will not help either.
With that being said, why is there this great hope of success for a single project like SOB- when everything points to a very different outcome?
It's the Devil's advocacy in me!
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Old 04-08-2011, 03:51 AM
 
28,273 posts, read 24,886,716 times
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Quote:
Originally Posted by K'ledgeBldr View Post
The unemployment rate has been above 10% since June 2009.
There is a lot of truth in what you say. Still, we have to remember that 90% are employed and many are doing quite well. If we look back at history many of the city's most elegant neighborhoods flourished during the 1930s. The wealthy are not unaffected but they still have money to spend.
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Old 04-08-2011, 06:48 AM
 
Location: Virginia Highland, GA
1,940 posts, read 3,865,561 times
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SOB= Son of a Bit**
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Old 04-09-2011, 12:46 PM
 
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I sometimes wonder if this luxury plan is for another time. Luxury has turned small and less obvious. So much for conspicuous consumption.
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Old 04-09-2011, 01:35 PM
 
2,564 posts, read 3,607,626 times
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Quote:
Originally Posted by RandyWatson13 View Post
I sometimes wonder if this luxury plan is for another time. Luxury has turned small and less obvious. So much for conspicuous consumption.
The whole "upscale" movement in this city got really obnoxious a few years before the recession in my opinion. SOB was to be the peak of that orgy of upscaleness(I try). I was kind of glad to see it toned down a bit but it sucks that the project's failure has the Buckhead village pretty much on life support.
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Old 04-09-2011, 07:29 PM
 
28,273 posts, read 24,886,716 times
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Originally Posted by DTL3000 View Post
The whole "upscale" movement in this city got really obnoxious a few years before the recession in my opinion. SOB was to be the peak of that orgy of upscaleness(I try). I was kind of glad to see it toned down a bit but it sucks that the project's failure has the Buckhead village pretty much on life support.
Other cities our size have upscale districts. We also have tons of extremely wealthy people here. Why should Atlantans have to settle for less than the best or go somewhere else to spend their money?

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Old 04-10-2011, 11:03 AM
 
2,564 posts, read 3,607,626 times
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Originally Posted by arjay57 View Post
Other cities our size have upscale districts. We also have tons of extremely wealthy people here. Why should Atlantans have to settle for less than the best or go somewhere else to spend their money?

I know. But Buckhead already is Atlanta's upscale district. I guess I just got tired of all the code words designed to make plebes like me feel bad. I also figured out long before the market crashed that wasn't nearly the demand for luxury condos to match what was being built. I think I remember rolling my eyes when I was first hearing about SOB, particularly when they described it as Atlanta's"Rodeo Drive." If like Atlantic Station, there was nothing worthwhile there before the project, I really wouldn't care. But Buckhead Village was an established district with it's own character. Maybe the bars needed to go but a lot of other business went with them.
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Old 04-10-2011, 11:17 AM
 
75 posts, read 95,048 times
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Quote:
Originally Posted by DTL3000 View Post
I know. But Buckhead already is Atlanta's upscale district. I guess I just got tired of all the code words designed to make plebes like me feel bad. I also figured out long before the market crashed that wasn't nearly the demand for luxury condos to match what was being built. I think I remember rolling my eyes when I was first hearing about SOB, particularly when they described it as Atlanta's"Rodeo Drive." If like Atlantic Station, there was nothing worthwhile there before the project, I really wouldn't care. But Buckhead Village was an established district with it's own character. Maybe the bars needed to go but a lot of other business went with them.
Ooh. I think I like this area. Is it near Castleberry?
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Old 04-10-2011, 11:38 AM
 
28,273 posts, read 24,886,716 times
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Quote:
Originally Posted by DTL3000 View Post
I know. But Buckhead already is Atlanta's upscale district. I guess I just got tired of all the code words designed to make plebes like me feel bad. I also figured out long before the market crashed that wasn't nearly the demand for luxury condos to match what was being built. I think I remember rolling my eyes when I was first hearing about SOB, particularly when they described it as Atlanta's"Rodeo Drive." If like Atlantic Station, there was nothing worthwhile there before the project, I really wouldn't care. But Buckhead Village was an established district with it's own character. Maybe the bars needed to go but a lot of other business went with them.
Well, most of the Buckhead Village has managed to remain intact, despite the insanity that took over in the early 2000's The Streets of Buckhead only took in a few blocks where the East Village bars were centered.

I read a comment the other day from the new developer who says they're doing something different than trying to create "a vision of Rodeo Drive." Personally, I hope that is the case.
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