MIDTOWN MARKET REPORT FEBRUARY 6-12, 2015 • SECTION B Building a blueprint UPDATE TO GUIDE FOR MIDTOWN DEVELOPMENT UNDERWAY BY TONYA LAYMAN Contributing Writer idtown Alliance is taking a step back to explore what has worked in terms of developing the district M and what needs improvement as Midtown Atlanta they embark on an update to its commu- Development nity-designed master plan, Blueprint Mid- Opportunity town. Th is next iteration of this document will guide development for years to come. Originally created in the mid ’90s, Blue- print Midtown was updated in 2002 and has continued to be refi ned with overlays including “Greenprint Midtown,” which added a “green lens” to increase Mid- town’s sustainability; the Midtown Mile retail strategy; and the design and imple- mentation of new streetscapes, road seg- ments, bike lanes, pocket parks and plazas and a complete bike network plan, among others. “It’s time to update and consolidate Blueprint Midtown and all the overlays into one master plan and guiding document to create Blueprint Midtown 3.0,” said Shan- non Powell, executive vice president and chief operating offi cer at Midtown Alli- ance. “Since the plan was originally con- ceived in the mid ’90s, we have not only experienced phenomenal growth, but we have also completed supplemental studies that have refi ned or added new elements around sustainability, retail, parking and open space.” When the planning process fi rst began, more than 68 percent of the land was con- sidered “ripe for redevelopment.” Despite the more than 50 new private develop- ment projects since then, 25 percent of JOANN VITELLI the land in Midtown remains ripe for redevelopment. “What is striking is the amount of rede- velopment potential that remains in Mid- town despite $5 billion in private devel- Shannon Powell of opment and over $450,000 in public Midtown Alliance says improvements. It reminds us that while work has begun on a Midtown has experienced a major renais- consolidated master sance, we are not done yet. Th ere is still plan and guiding plenty of opportunity to shape this com- document, Blueprint munity,” Powell said. Midtown 3.0. Expected to be done in March, Blue- print 3.0 is about building on the suc- SPECIAL cesses Midtown has had, incorporating all documents into one document rather than many, and refi ning site specifi c rec- ommendations to refl ect the changes that with emphases on street level articulation, perspective,” Powell said. “The design future of Midtown, specifi cally revolving have occurred since the original unveiling. public spaces and parking will be included guidelines are one of those tools and around street level engagement. “In this next iteration of Blueprint Mid- in the plan. To help communicate these will include essential elements for pri- “Atlanta is becoming a real city right town, we will add new sections such as eff orts and best practice to developers, vate development with sections on under our nose. For fi rst time we have sustainability and street-level activation Perkins + Will helped the group create the streetscapes, site design and building a true urban environment with feet on that includes public art and games. Th ese Development Reference Guide to demon- design.” the street that is now housing a signifi - sections didn’t exist the fi rst time around, strate a set of urban design guidelines. Mark Toro, managing partner at North cant critical mass of residents that are liv- but add components that build off of our “It is not just the plan that needs to be American Properties Inc., not only lives ing, working and playing in Midtown,” he existing strengths in order to create a very refreshed, but the tools we use to com- in Midtown but serves on the Midtown said. “Th at move has been underway for unique Midtown fl are,” she said. municate the recommendations and Alliance board and his company owns New design development guidelines implement the plan also need a fresh Atlantic Station. He is passionate about the CONTINUED ON PAGE 11B *reeWLQJs IrRP 0LdWRZQ $T/ $QQuaO0eeWLQJ 2015 Tuesday, February 10, 2015 aW TKe FR[ TKeaWre Ã0 3eaFKWree 6WreeW 1( Ã $WOaQWa, *$ 00 00 aP5eJLsWraWLRQ, &RIIee %reaNIasW00 0 aP3rRJraP Midtown Alliance would like to thank this year’s sponsors of our Annual Meeting Gold Sponsors Silver Sponsors 12th & Midtown · AGL Resources · Bisnow · Colliers International · Cousins Properties · Crocker Partners · Emory University Hospital Midtown · John Hancock Real Estate · Kilpatrick Townsend & Stockton LLP · Midtown Bank & Trust · Novare Group · PNC Bank · Publix · Smith & Howard · Sutherland 0LdWRZQ$T/FRP$QQuaO0eeWLQJ FEBRUARY 6-12, 2015 ATLANTA BUSINESS CHRONICLE 3B MARKET REPORT VIEWPOINT Imagining the future of Midtown Atlanta t’s a crisp early morning in at the changes over the last decade. and accelerators to grow and scale Midtown, circa 2025. You slip on Large surface parking lots are mostly while staying close to the mothership. I your jacket, set its dial to 72 degrees gone. Parking decks have largely Th e Georgia Tech High-Performance and hit the sidewalk. disappeared as they are wrapped by new Computing Center, positioned atop Th ere’s a confi dent hum to the city development. New development projects Atlanta’s main Internet backbone, has as vehicles whisk-by. One in three is have created a dynamic and engaging established itself as a one-of-a-kind driverless. Th ese are interesting times, street scene. Pocket parks are tucked in to showcase for big data modeling and as Midtown’s street network has been all the right places and interactive public applications as well as sustainability. transformed into a ‘mobility grid,’ where Kevin Green is president and CEO of art and games have become a signature And NCR’s global headquarters move vehicles communicate with each other Midtown Alliance. of Midtown’s unique streetscapes. to Midtown proved to be the bellwether and traffi c signals seem to know exactly SoNo (South of North Avenue) has of a decade of major announcements, when to turn. Makes sense. coff ee, a fresh bagel and see the kinetic been completely transformed, with with more on the way . Everywhere you Walk? Bikeshare? Catch a ride? A art installation you’ve been wanting to Emory University Hospital Midtown look, you see a thriving and dynamic couple of taps on your wrist calls up check-out. and the redevelopment of the Atlanta community that is second to none. an array of on-demand transportation Th e streets and sidewalks are starting Civic Center serving as major catalysts. Th e scenario above may seem far- options. Th is same device is also your to fi ll now with people heading to work. Signifi cant new investment, public sighted to some and perhaps modest wallet, your keys, your vital signs, your Th ree-quarters of them are millennials. amenities and retail have taken hold — to others. But if the last 10 years is any regional transit pass, tonight’s concert Storefronts are also waking-up. reconnecting Midtown and Downtown guide, the next decade will be one of tickets and how you will cast your vote Alongside a growing mix of stores and in a way that was long overdue. profound change. in the next election. Gigabit Internet cafés are new modular pop-up shops, As art and design takes center stage, Today, 25 percent of the land in the speeds and being connected are the many of which seem to change-out every SCAD Atlanta adds more programs Midtown Improvement District is ripe norm. But technology has faded into month as showrooms for touchscreen and studios and the Woodruff Arts for redevelopment. Th ere a few places the background and is scarcely even shopping. And with the sharing economy Center welcomes new state-of-the-art whose next phase of transformation mentioned . fi rmly taken hold, storefronts aren’t just performance venues. seems as sweeping and imminent. You are only a four minute walk to for buying. Need to rent a state-of-the- Meanwhile, Technology Square It’s hard to know exactly what the the Arts Center MARTA Station, but you art kitchen for a couple of hours later has cemented its status as a national future holds, but it is clear who holds feel like a stroll. Another tap tells you this week? Take a class? Book that 4-D technology and talent magnet and the future. We own the opportunity that the 8:17 am train will be on-time scavenger hunt? All are part of this new urban “main street” for the campus and to shape Midtown and our city into at the Midtown MARTA Station, where street-level economy. community. Flexible workspaces enable an even more exceptional urban you also know you can get a great cup of As you look around, you marvel start-ups from Georgia Tech incubators experience. Let’s make it happen. 4B ATLANTA BUSINESS CHRONICLE FEBRUARY 6-12, 2015 MARKET REPORT New developments feed off each other in Midtown BY MARTIN SINDERMAN developments are feeding upon each out of the downturn, it’s been virtually Contributing Writer other,” said Dan Joy, a principal with the all apartments.” architect fi rm Rule Joy Trammell + Rubio. According to Haddow & Co.’s third idtown remains a prime exam- “And the result is that what we are see- quarter 2014 analysis of what it calls the ple of a market in the expan- ing now is the densifi cation of Midtown. “Midtown/Brookwood submarket,” the M sionary phase of the real estate If you look at an aerial map, it [Midtown 6,120 apartment units built here since cycle, with a number of projects under- Atlanta] is pretty underdeveloped com- 2000 were an average 97.8 percent occu- way, especially apartments aimed at mil- pared to more mature cities such as Chi- pied, well in line with occupancy within lennials and others who like the urban cago, New York City, and Boston,” leaving intown Atlanta as a whole.