Friday, January 8, 2010

Commercial fallout ramping up


In this week's Atlanta Business Chronicle, there are articles about potential foreclosure on an Allen Plaza land parcel, the Campanile building in Midtown, and a loan renegotiation effort by Dewberry for One Peachtree Pointe.  (As usual, some of the ABC's articles are un-linkable and/or need subscriptions to read).  While this sort of news was pretty much expected among the real estate community, it doesn't mean it isn't still bad news.

UPDATE: Via Atlanta Unsheltered, I also see that the Flatiron Building is for sale.  Again.  I had noticed recently that it was being offered as office condos per floor, or something like that - it had signs saying "buy this floor" or something.   It was bought under contract recently and was going to be converted into a boutique hotel.  Guess that didn't work out. 

Really, though, this post is a chance to talk about Dewberry's continued use of the phrase "Uptown" to discuss his projects on the northern side of Midtown.  Uptown was actually the name of the Midtown area at some point, although finding a reliable link for that is difficult.  I think I've seen it on an old map somewhere.

At this point, though, it seems silly to keep insisting that a few parcels you own within a submarket deserve to be redefined as a separate area of the city.  The company just keeps insisting on the using the term, though.  Sometimes I get the impression they are using it just as the name of a series of development projects in the area, but mostly I get the impression that they want to call the entire area basically between Pershing Point and 26th street the Brookwood interchange "Uptown".  Dude, get over it, you are in Midtown.

8 comments:

  1. no, that's not midtown--it's brookwood--

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  2. FWIW, most of the land under discussion is within the Midtown Improvement District's BID, and I believe the 'official' boundaries of Midtown on the city's neighborhood org map stop at the 1-75/I-85 interchange. Yes, north of that is technically Brookwood, but I think "Uptown" is south of the highway.

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  3. This comment has been removed by the author.

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  4. Midtown goes up to the I-75/85 interchange and then you're in Buckhead.

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  5. @Juliea

    You are correct that Buckhead claims that area, but come on! Look at the area that Buckhead claims, it's frickin' huge! (Probably due to the perennial push to form their own separate city)Thus, it's not really helpful to me and most others to call that area Buckhead. The Brookwood area clearly has it's own character (and increasing density). These delineations always seem to evolve as development changes an area, but I'd say that Brookwood starts at the interchange and runs up to the creek. I think you could also argue for the Loring Heights to be included since it's kinda over there by itself.

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  6. The powers that be (i.e. the Buckhead Coalition) have no interest in being a separate city. They've been pretty clear about this, although obviously there are some residents who feel differently.

    I would agree that the area between Peachtree Creek and the interchange is a bit of a no-man's land, although I'm sure that folks living there are quite happy to claim a Buckhead address when it comes time to sell their homes.

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  7. As for the Flatiron building, it was never sold - the group who wanted to turn it into a 5-star hotel never closed on the property. It's still owned by Jim Cumming (who owns the Tabernacle as well).

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  8. Thanks! Post has been edited to reflect that.

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