Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Georgia > Atlanta
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 01-04-2017, 03:26 PM
 
Location: Prescott, AZ
5,559 posts, read 4,664,152 times
Reputation: 2284

Advertisements

Report: Underground Atlanta sale has again been delayed

Quote:
Now, a WRS executive says the sale has again been delayed until the company can hold a Jan. 14 community engagement meeting with downtown groups, the newspaper reports.

The exec said major land issues and legal hurdles involving Underground have been resolved, but some technical concerns remain. He said the deal would close as soon as possible.
Perhaps this is in response to the whole handing over chunks of our public street grid to private entities thing.
Reply With Quote Quick reply to this message

 
Old 01-05-2017, 10:06 AM
 
Location: Kirkwood
23,726 posts, read 24,731,164 times
Reputation: 5702
Quote:
South Carolina real estate company WRS Inc. has until the end of January to close on the sale of Underground Atlanta.
If the deal isn’t complete by the end of the month it will be time for the city to move on, Atlanta Mayor Kasim Reed said in a phone interview on Wednesday. The sale is delayed because of new title and easement issues related to the abandonment of streets.
Mayor Reed: Underground Atlanta deal now faces deadline - SaportaReport
Reply With Quote Quick reply to this message
 
Old 01-05-2017, 01:25 PM
 
Location: Prescott, AZ
5,559 posts, read 4,664,152 times
Reputation: 2284
Jamestown expressed interest, right? I'd like to hear what they have to offer the area.
Reply With Quote Quick reply to this message
 
Old 01-05-2017, 01:48 PM
 
Location: Kirkwood
23,726 posts, read 24,731,164 times
Reputation: 5702
Quote:
Originally Posted by fourthwarden View Post
Jamestown expressed interest, right? I'd like to hear what they have to offer the area.
Quote:
Among the interested groups is Newport Holdings, a German development and investment firm that employs at least two former Jamestown Properties executives, the developer behind Atlanta adaptive-reuse sensations Westside Provisions District and Ponce City Market. Both former Jamestown execs were instrumental in bringing PCM to life, the AJC reports.
A little too much too late. Where were they 2 years ago? All of a sudden they want in.
Reply With Quote Quick reply to this message
 
Old 01-05-2017, 01:52 PM
 
Location: Prescott, AZ
5,559 posts, read 4,664,152 times
Reputation: 2284
Quote:
Originally Posted by cqholt View Post
A little too much too late. Where were they 2 years ago? All of a sudden they want in.
Not a bad question, but perhaps they were waiting to see how PCM turned out? Now that it's mostly done and turn-key at this point, it might have opened them up to taking on other projects?
Reply With Quote Quick reply to this message
 
Old 01-06-2017, 08:48 AM
 
Location: In your feelings
2,197 posts, read 2,248,526 times
Reputation: 2180
Maybe they expressed interest after seeing that a company that usually develops Walmarts was in way over their heads?

Quote:
T. Scott Smith, CEO of WRS Realty, told Atlanta Business Chronicle he is committed to completing the Underground deal, but continues to be concerned about the ability to close the deal in January.

“The mayor wants to close in January, but I don’t know if that will be possible,” Smith said in a telephone interview.

http://www.bizjournals.com/atlanta/n...534&j=76986681
My confidence in WRS is at its nadir.
Reply With Quote Quick reply to this message
 
Old 01-06-2017, 09:03 AM
 
Location: Georgia
4,209 posts, read 4,711,400 times
Reputation: 3611
As far as reputation goes, as Mayor I would trust Jamestown more than WRS which has shown at every turn that they are rookies at urban development. I'd rather be safe than sorry about the future of our Downtown, especially after all the failed attempts of the past few Underground redevelopments.
Reply With Quote Quick reply to this message
 
Old 01-06-2017, 09:20 AM
 
Location: Kirkwood
23,726 posts, read 24,731,164 times
Reputation: 5702
Quote:
Originally Posted by demonta4 View Post
As far as reputation goes, as Mayor I would trust Jamestown more than WRS which has shown at every turn that they are rookies at urban development. I'd rather be safe than sorry about the future of our Downtown, especially after all the failed attempts of the past few Underground redevelopments.
It's NOT Jamestown!
Reply With Quote Quick reply to this message
 
Old 01-06-2017, 09:21 AM
 
2,084 posts, read 1,366,334 times
Reputation: 2288
Underground Atlanta developers want to hear from you
What would you like to see in the heart of Downtown?

"Are you wondering what type of businesses the proposed $300 million Underground Atlanta redevelopment will feature? Curious what the architecture will look like? Concerned over whether access will be controlled in and out of the property in the heart of Downtown?

You'll get a chance to speak with executives from WRS Real Estate, the South Carolina developer that's been negotiating with the city for two years to buy the property, on Sat., Jan. 14, at 10:30 a.m. at Underground Atlanta in the subterranean shopping mall's atrium. That's located across the street from the Atlanta Convention and Visitors Bureau center on Upper Alabama Street..."

Full Story: Underground Atlanta developers want to hear from you
Reply With Quote Quick reply to this message
 
Old 01-06-2017, 09:34 AM
 
Location: Georgia
4,209 posts, read 4,711,400 times
Reputation: 3611
Quote:
Originally Posted by cqholt View Post
It's NOT Jamestown!
Got you. This is where the confusion came from.

Quote:
But multiple firms are monitoring the situation and the looming January deadline.

One of them is the U.S. arm of a German development and investment firm, Newport Holdings. Jake Nawrocki, the president of Newport’s U.S. division, declined to comment for this story.

Newport has brought on at least two former executives from Jamestown, Katharine Kelley of Green Street Properties and Nawrocki, who were key players in Jamestown’s redevelopment of Ponce City Market. Both are experienced in complicated real estate transactions and adaptive reuse projects such as Ponce City Market, the former hulking Sears, Roebuck & Co. warehouse reborn as a hive of offices, apartments and high-end retail and restaurants.
Underground Atlanta sale nears critical deadline
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Georgia > Atlanta

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top