Many new projects are underway in Atlanta... and the market is flourishing.
Midtown Atlanta Booms…West Midtown is as Hot as it Gets
Atlanta is a flourishing city. To understand just how true this is, it is important to know that there are MANY different “sections” of Atlanta. The major ones are Buckhead, Downtown, and Midtown; however, there are multiple others, and there are also subsets within these major areas. For the purposes of this blog, we are highlighting an area known as West Midtown (a subset of Midtown).
Three major projects are underway in the West Midtown district that will transform the Midtown experience, and there are five other reciprocal developments also in progress. Most of these developments are a “stone’s throw” away from each other, which should provide a synergistic atmosphere in the area.
As this West Midtown boom builds, businesses are flocking to the district to capitalize on the consumer draw and the fresh workforce moving in. Read on to learn about each of these developments and how businesses can benefit from their renewed energy.
The Works 1235 Chattahoochee Ave. NW Atlanta, GA 30318: Atlanta developer Selig has committed to a long-term plan for this 80-acre project, which will transform 40 historical structures into retail, residential and “creative office space.”
Star Metals 1050 Howell Mill Atlanta, GA 30318: “Iconic Architecture” and 185,000 SF of class A office space is being promoted by the developer. This project promises to take “live, work, play” to a higher level with unparalleled amenities offered to residential, retail, and office tenants.
The Interlock Corner of Howell Mill Rd. & 14 St. NW, Atlanta, GA 30318: This mixed-use development is to include hotel and single-family homes. Notably, this venture is set to include a Georgia Tech program that will control 25% of the office space for use to promote and grow tech start-ups in the southeast.
Phases for these projects are scheduled to begin in 2020, with overall completion expected in 5-10 years.
The four other developments, Osprey, 8 West, 788 West Midtown, and Inland Tract all have similar timelines. While comparable to The Works, Star Metals and The Interlock will not be as substantial in size.
Another project which has not yet broken ground is a massive mixed-use development, Quarry Yards. This venture should get underway sometime in the second quarter of 2019.
These projects are certain to keep the area growing for the next several years, with the only concerns being the impeding traffic, and no direct access to the east west corridor. As expected, this expansion of West Midtown will appeal to the pioneer companies who seek to attract young tech workers that prefer in-town living. This young talent pool is already nearby at Georgia Tech, Georgia State, Morehouse, Spellman, Emory, and University of Georgia, graduating just over 60,000 students per year.
Additional Project Highlights
The Works at Chattahoochee:
- 80 acres mixed use
- Will be adapting 40 existing structures
- Completion/delivery in phases
- Full completion in 5-10 years
- 500 residences, 200 room hotel, and 13 acres of greenspace
- Office, Residential, hotel, and retail
- Dual Buildings
- Unique Architecture
- 185,000 SF of contiguous space
- Exclusive Marta Shuttle
- Close to Arts Center Station Rail
- Office, Retail, apartments, and hotel
- 70 Single Family Homes
- GA Tech venture will control 25% of the office space
- 125 room hotel
- Southwest corner of Howell Mill Rd. and 14th Street
Five other large projects in the area
- Howell Mill and 10th
- Luxury rentals
- 13,000 SF restaurant/retail
- Will link together White Provision District and Marietta Street Artery
- Residential rental amenities noted at “the usual”
- Resort style pool, fitness center, juice bar, pet spa, etc.
- Office, retail, and apartments
- Will incorporate Hathaway Gallery
- Ride share drop-offs
- 175,000 square feet of office space across nine floors
- 10,000 square feet of ground-level restaurant and retail
- 264 apartments
788 West Midtown
- Glassy residential-only high-rise
- Expected to be 20 stories high
- To include 2 bedroom/2 baths (1,129 SF) Inland Tract
- Will offer “creative” office space
- 2 Midcentury warehouses to be turned into 80, 000 SF of offices
- Offices will offer large windows and skylights
- Courtyard will provide casual meeting spaces
- Scheduled to open Fall 2019
- Adjacent to Bankhead Marta station
- 70 acres mixed-use
- Office, retail, and restaurant on 650,000 SF of space
- 850 Residential units
- 300 Room Hotel
- Backed by former Braves Player, Mark Teixeira
Tenant Improvement Allowances (TIA) can be a game-changer for businesses looking to create the perfect workspace.