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Atlanta Business Chronicle STATE OF THE REGION JANUARY 10-16, 2020 • 36 PAGES • $3.00 SPECIAL SECTION • 25A CULTURE VS. COMFORT Atlanta’s L5P seeks to stay funky amid change Copyright © 2020 American City Business Journals - Not for commercial use INSIDER Delta Air Lines CEO Ed Bastian at Boy Scouts’ Golden Eagle Luncheon. 6A Little Five Points has long been a bastion of counterculture. BYRON E. SMALL ON THE BEAT BY CHRIS FUHRMEISTER | [email protected] CIVIC ATLANTA ignificant changes are coming neighborhoods meet, Little Five Points has at the intersection of Moreland, Euclid Georgia Chamber aims to keep state ‘open for this year to Findley Plaza in Lit- long been a bastion of counterculture. It and McClendon avenues. Trees are scat- business’ in 2020 tle Five Points. Property owners, is increasingly an island in a sea of devel- tered throughout the public space, which is Maria Saporta, 8A landlords and residents are con- opment that, spurred by the construction backed by a long row of businesses such as sidering the cultural future of the of the Atlanta Beltline’s Eastside Trail, has the Porter Beer Bar, Euclid Avenue Yacht Seclectic east-side commercial district as brought a wave of high-dollar commercial Club (a much divier establishment than the REAL ESTATE NOTES well. and residential real estate projects in the past name would indicate), Criminal Records Prized Midtown site Sitting along Moreland Avenue where decade. was sold to Portman Atlanta’s Inman Park and Candler Park Findley Plaza takes up a tenth of an acre L5P CONTINUED ON PAGE 18A Holdings for $38.5M Douglas Sams, 10A COVER STORY RESTAURANTS & HOSPITALITY NEW BILL WOULD ALLOW COLLEGE ATHLETES Popular Little Five Points dive bar closes, could reopen TO BE PAID FOR NAME, IMAGE AND LIKENESS Chris Fuhrmeister, 14A BY ERIC JACKSON disadvantage if other states did pass something [email protected] and we did not.” Th e NCAA Board of Governors opened the he amateur athletics model that the door for college athletes to profi t from their NCAA has defended for decades may name, image and likeness in October, fl ipping T be coming to an end. from their longtime stance on the issue. Th e Democratic representative Billy Mitchell historic move came in the wake of California is sponsoring a bill that would allow college Gov. Gavin Newsom signing a law which pre- athletes in Georgia to be paid for their name, vents the NCAA from punishing college ath- image and likeness and the proposed legisla- letes who hire agents and earn money from tion will be considered during a committee endorsements. hearing soon with the General Assembly ses- Georgia is one of the states that has followed sion beginning on Jan. 13. Mitchell is confi dent California in creating similar ‘Fair Pay to Play’ that House Bill 743 will have bipartisan sup- legislation. port heading into the 2020 session. Despite the NCAA changing its policy, pres- “Without a doubt we’ll have as many ident Mark Emmert said last month that he MAKING THE JOANN VITELLI Republicans, if not more, than Democrats,” would rather the solution come in form of a Mitchell told Atlanta Business Chronicle. federal law, as opposed to various states like GRASS GREENER “[Supporters] of this proposal, which will pay Georgia passing competing laws. Ten states Atlanta ranks just 42nd of 100 big college athletes, recognize that if it’s going to have already introduced ‘Fair Pay to Play’ bills cities for its parks. But a new plan happen then we need to have a law in place could point the way upward. because it would certainly place Georgia at a ATHLETES CONTINUED ON PAGE 17A By Maria Saporta • 12A Leaders in CORPORATE ITIZENSHIP 4:30-6:30P.M. Copyright © 2020 American CityFEBRUARY Business Journals - Not 20for commercialKING use PLOW ARTS CENTER We are excited to announce the inaugural Leaders in Corporate Citizenship Award honorees. This program recognizes individuals who have found the perfect intersection of social good and corporate success. Enjoy cocktails and hors d’oeuvres at this special awards event where we will spotlight leaders for their strong commitment to corporate responsibility practices, engagement in the community and dedication to making a difference. MEET THE HONOREES BOARD CHAMPION Kimberley Euston, National Business Development Leader for Technology, Media and Telecommunications, PwC Sean Hyslop, President, Sysco Foods Josh Lieberman, President, KMS Technology CORPORATE CITIZEN OF THE YEAR Vivian Greentree, Senior Vice President - Head of Global Corporate Citizenship, Fiserv John C. Hamilton, Executive Director, Marsh & McLennan Agency Terri Hendley, Director, Troutman Sanders EXECUTIVE CHAMPION (LARGE COMPANY) Dan Amos, %'1#ƃCE Shane Jackson, President, Jackson Healthcare Dan Kurzius, %QHQWPFGTCPF%JKGH%WUVQOGT1HƂEGT/CKNEJKOR EXECUTIVE CHAMPION (SMALL COMPANY) Theodore Blum, /CPCIKPI5JCTGJQNFGT#VNCPVC1HƂEGCPF%JCKTQHAtlanta Corporate Practices, Greenberg Traurig LLP Mike Littrel, Board Chairman, Founder and CEO, X3 Sports and X3 Foundation Brandon Powell, CEO, HatchWorks Technologies RISING STAR Jenna Grothaus, Director of Marketing, Otter’s Chicken Kiera Palmer, CEO, The Women Project TOP PRACTITIONER Maurice Baker, Manager - Community Relations, Georgia Natural Gas Erica DeChicchis, Senior Vice President and Director of Client and Community Relations, PNC Shannon Gerber, Executive Director, The Home Depot Foundation LIFETIME ACHIEVEMENT Ann Cramer, Senior Consultant, Coxe Curry & Associates and retired Director - Corporate Citizenship, IBM Register Today! www.bizjournals.com/atlanta/event Presenting Sponsor Events | Jennifer Osborne | [email protected] Advertising and Sponsorship | Joey Powell | [email protected] JANUARY 10-16, 2020 ATLANTA BUSINESS CHRONICLE 3A NEWS 14TH STREET Prime Midtown property returns to the market BY DOUGLAS SAMS “Th is site continues to be was once proposed to soar up to 74 stories, [email protected] then scaled back to 232 units, then changed one of the most desired in again to about 189 units in 2017. Site work, A New York real estate company seeking to the city of Atlanta.” also known as pre-development, has been develop the tallest residential tower in Mid- underway for some time. town will put much of the property back ALAN WEXLER, Architect Perkins + Will is designing the on the market. DATABANK INC. tower. An affi liate of Olympia HeightsCopyright Man- © 2020 American City BusinessOHM Journals Atlanta, -the Not real for estate commercial affi liate use agement owns the 4-acre trophy site at architecturally signifi cant towers includ- of Olympia Heights, is listed as the owner 14th Street, which it bought more than fi ve ing 1180 Peachtree. of the Symphony Center property, which years ago and where it continues pre-de- It’s also one of just a handful of rela- it bought from Robert Woodruff Arts velopment work on a more than 50-story tively large, undeveloped sites remaining Center Inc., according to Fulton County condo tower. in Midtown. Another, the roughly 4-acre records. It calls the project No. 2 Opus Place. historic Spring Hill Mortuary, just sold for OHM Atlanta has a $22 million loan on As Olympia Heights tries to line up pre- $38.5 million. Prominent Atlanta develop- the entire 4-acre site that is set to mature sales for the planned condo units, it’s now er Portman Holdings was the buyer. this month, though a provision in the loan seeking developers for the remaining 2.2 Just over fi ve years ago, Olympia Heights documents allows for an extension, accord- acres around the project. Th e balance of the bought the property, often referred to as ing to Fulton County deeds. OHM has been site is large enough to contain more than “Th e Symphony Center” site, for $22 mil- able to take time developing the property, one million square feet of additional offi ce, lion, according to Fulton County property in part, because it bought the land several apartments and retail space, according to records. Th e property’s name stems from years ago when real estate prices were still preliminary marketing materials. a 2002 plan to build a new symphony hall recovering from the Great Recession. Olympia Heights has retained com- on the site. “Th is site continues to be one of the most mercial real estate services fi rm Cushman Olympia Heights in 2014 went before desired in the city of Atlanta,” said Alan & Wakefield to market the 2-plus acres. the Midtown Development Review Com- Wexler, CEO of Atlanta real estate proper- When reached for more details, Cushman mittee to present a long-term master plan ty research fi rm Databank Inc. “OHM has & Wakefi eld could not comment. that featured a $650 million mixed-use an acquisition basis in this property that is Th e site is expected to generate a sig- project that could include three new resi- extremely low based on today’s Midtown nifi cant amount of interest among poten- dential towers. Atlanta land values.” tial developers, especially considering it’s Over the past several years, it has fl oated surrounded by some of the city’s most various concepts. For example, the project Rendering of tower proposed for site. SPECIAL/ARX SOLUTIONS ALLEGES A SCHEME TO ‘CHANNEL STUFF’ Mississippi retirement fund sues Mohawk Industries BY DAVID ALLISON PERS of Mississippi is seeking unspec- [email protected] ifi ed damages. Mohawk announced second quarter Mohawk Industries Inc. is being sued by a results on July 25. Commenting on the big Mississippi retirement fund that claims results, Mohawk CEO Lorberbaum noted the Georgia-based fl ooring giant deceived that, “Most markets we operate in remain investors. soft, with pressure on volume and pric- In a complaint fi led Jan. 3 in federal ing, and we anticipate the environment to court in Rome, Ga., the Public Employ- remain diffi cult.” ees’ Retirement System of Mississippi “Given the uncertainties in our mar- claims Mohawk (NYSE: MHK) “engaged kets, we are taking actions to improve our in a scheme to ‘channel stuff ’ its Conven- business” he added.
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