Midtown (Atlanta, Savannah: dorms, buyer, new construction)

[Iconographer]

Originally Posted by Atlwarrior

Its so much excitement in the air. Midtown will become Atlanta's first 24 hour district. I hope we can get some more local 24 cheap food places in the area.

Don't worry; if we build it, they will come...

[cqholt]

One Museum Place set for first move ins, but could the 40% occupancy spell trouble for other high-priced, condo projects?

As it stands, nearly 40 percent of the 45 residences are still available. With prices rising from $1 million to more than $3 million, the building definitely isn’t for everyone.

More luxury condo buildings up the road in Buckhead, including Emerson and the Charles, are expected to start construction soon. Meanwhile in Midtown, the pricey 98 Fourteenth Street (above) — pitched as Atlanta’s second-tallest building — is dependent on significant pre-sales before launching.

http://atlanta.curbed.com/2016/11/17...os-high-museum

[arjay57]

Originally Posted by cqholt

One Museum Place set for first move ins, but could the 40% occupancy spell trouble for other high-priced, condo projects?


http://atlanta.curbed.com/2016/11/17...os-high-museum

My guess is they will fill them up. It just takes a little longer in that price range.

[AnsleyPark]

Originally Posted by cqholt

One Museum Place set for first move ins, but could the 40% occupancy spell trouble for other high-priced, condo projects?


http://atlanta.curbed.com/2016/11/17...os-high-museum

I think it's 60% occupied, cq. So that doesn't sound as bad.

[cqholt]

Originally Posted by AnsleyPark

I think it's 60% occupied, cq. So that doesn't sound as bad.

I am going off the articles numbers.

[AnsleyPark]

Originally Posted by cqholt

I am going off the articles numbers.

"As it stands, nearly 40 percent of the 45 residences are still available." So, if 40% are still available, then 60% are not available. So, there's a 60% occupancy rate. Am I missing something?

[cqholt]

Loudermilk looks to sell Midtown Mile properties, including 85K commercial space and parking lots/garages

The portfolio includes the 29k SF street-level retail called Shops at Viewpoint at 855 Peachtree condo tower, the 21k SF Shops at Spire condo tower, the 4,500 SF Shops at Seventh condo building at 867 Peachtree St (above); the 21k SF 800 Peachtree St street-level retail and the 13k SF 805 Peachtree St retail. Also included are three parking decks and a handful of associated surface parking lots.

Read more at: https://www.bisnow.com/atlanta/news/...medium=Browser

https://www.bisnow.com/atlanta/news/...67765?rt=30930

[Ant131531]

I'm skeptical that 98 14th street(Opus Place) will be able to sell enough for groundbreaking. You figure they would need to pre-sale about 40-45% of the units and get a few corporations to lease the corporate suites. There will be over 350 condos so they need to sell about 150 million worth of condos.

Honestly, if this building breaks ground, it tells me the Atlanta market has truly matured into a premier condo market. It's not very often in cities around the world where a 920 feet full condo building is constructed.

Crossing my fingers it breaks ground next year.

[fieldm]

Hopefully they will sell because they will have the best views in the city especially if you live on the upper levels, MARTA around the corner, a grocery store across the street, stores and a theater at Colony Square, etc. The views I predict will be the best selling point

[Ant131531]

Originally Posted by fieldm

Hopefully they will sell because they will have the best views in the city especially if you live on the upper levels, MARTA around the corner, a grocery store across the street, stores and a theater at Colony Square, etc. The views I predict will be the best selling point

Hope so...just worried the condo developments around the city are eating away at the potential pool of buyers especially considering almost all the new condos are all condos are that selling are nearly one million or more. I would be mad though if I bought at One Museum Place or Seventh and then this announcement came out.