Building a Blueprint UPDATE to GUIDE for MIDTOWN DEVELOPMENT UNDERWAY

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

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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. Monthly rents, feel, walkability, green space, and 24-hour lots of potential for future development. however, averaged $1.73 per square foot, activity of this Atlanta submarket. second only to Buckhead/Brookhaven’s According to data supplied by Mid- Apartment dynamics $1.79. town Alliance, there are 1,474 multifam- Th e acceleration of traffi c problems Newer projects have been blazing new ily residential units, both apartments and engendered by Atlanta’s urban sprawl trails when it comes to Midtown apart- condominiums, currently under con- during the 1980s and 1990s, resulting ment rents. According to Haddow, 77 12th struction in Midtown. And there’s a lot in more people wanting to live closer to St., developed by Daniel Corp. and Selig more on the way, with some 5,831 in the where they work, spurred a lot of inter- Enterprises Inc., was the fi rst Midtown planning stages. est in living in Midtown, according to Joy. apartment project to break the $2.50 New retail square footage, predom- Combined with millennials and empty per square foot/per month rent barrier. inately in the form of ground-level nesters that enjoy an urban lifestyle, he Rents at Novare Group and Batson-Cook retail associated with individual apart- said, this has resulted in a boom in mul- Co.’s SkyHouse Midtown and SkyHouse ment projects, totals 284,000 square feet tifamily development. South now both running in the $2.40 per- either underway or Unlike previous square-foot monthly range. planned. Midtown cycles, How much higher can rents go in Mid- Apartments this multifam- town? “Th ere might be a little room for are going up, the ily surge is dom- BYRON E. SMALL well located, top quality, high-ameni- base of major inated by apart- Midtown’s monthly apartment rents ty-base properties,” said Daniel Corp. offi ce properties is ments, according nearly rival those of Buckhead. senior vice president Steve Baile, “but at already there, peo- to Ladson Haddow, some price, homeownership will prove to ple are moving in, vice president at be competitive soon.” and the retail is real estate consul- from 2005 through 2007, it [develop- Dan following. Ladson tant Haddow & Co. ment] was all heavily condominiums,” Joy “All of these Haddow “In the last cycle, said Haddow. “But now, since coming CONTINUED ON NEXT PAGE FEBRUARY 6-12, 2015 5B MARKET REPORT

SPECIAL SkyHouse Midtown is just one of seven commerical projects that were completed in Midtown from 2013 to 2014, according to Midtown Alliance data.

CONTINUED FROM PREVIOUS PAGE “...I think you are going to see more corporations New off ice development Employment generated by two recently looking closely at announced Midtown offi ce development Midtown, and deals that stand to have major impact on what this submarket, and the city as a recognizing it as a location whole, looks like in the future could play that gets them closer a huge role in supporting demand for new apartment units, and their higher rents, to the base from which here. they are trying to recruit In January, consumer trans- action-technologies giant employees.” NCR Corp. (NYSE: NCR) announced JOHN HEAGY, plans to build a new world headquarters Hines on roughly four acres at Spring and 8th streets. Th e site, Centergy North, is part of Georgia Tech’s Technology Square inno- unique attributes, he said. “And I think vation district, an eight-acre learning you are going to see more corporations and conference center, established in looking closely at Midtown, and rec- 2003, which has since also become ognizing it as a location that gets them a hub for startups, many of them closer to the base from which they are technology-based. trying to recruit employees.” Th e news that NCR would be bringing Companies looking for a location some 3,600 employees to Midtown came with a lifestyle attractive to a younger on the heels of the announcement of Geor- employee base gia Tech’s 24-story, 695,000-square-foot continue to find High Performance Computing Center for Midtown a good Modeling and Simulation. Also located fit, “and that is a in Technology Square, the center would trend that is going be anchored by Georgia Tech’s comput- to accelerate,” er-based research programs, and also fea- said Bob Mathews, ture space that could be leased for private president and CEO companies. of Colliers Interna- The NCR relocation provides a Bob tional Atlanta. high-profi le example of the way Midtown Mathews Midtown’s rail has been changing, and how that will and roadway infra- continue, according to John Heagy, senior structure, green managing director spaces, restaurant and retail ameni- with Hines. ties, and overall ambiance are several “Five years ago, of numerous reasons companies find I would have told the submarket attractive, said Mathews. you that Midtown And on the facilities cost side, in existing is the submarket buildings, “Th ey can still get a pretty good where attorneys deal in Midtown compared to Buckhead.” and other profes- Offi ce developers eyeing Midtown sites sional firms are for new class A buildings need to keep in John flocking,” Heagy mind that the costs of bringing a major Heagy said. new offi ce building out of the ground in But these days, Midtown is high. According to Mathews, millennials are the “Th ey’ll need to get rents running in the ones fl ocking to Midtown, to enjoy its high $30 to the mid $40 range — and that’s walkability, 24-hour activity, and other getting up there.” 6B ATLANTA BUSINESS CHRONICLE FEBRUARY 6-12, 2015 MARKET REPORT Area becoming innovation hub

BY DOUG DELOACH 4,000 jobs to the investments in tech and tech-centric busi- R CLOSER LOOK Contributing Writer Midtown area. nesses, particularly information security, “Under the lead- cyber security, e-commerce, and soft- Five goals of Georgia Tech’s HPC ecent activities in and around ership of CEO Bill ware and services companies. BLH also project: Technology Square on the Geor- Nuti, NCR has been operates an e-commerce business called R Support economic development by R gia Tech campus point to the reinvented over the Control Freak, which is in the Advanced creating jobs, new tax revenues and area’s emergence as a magnet for science- last decade and Technology Development Center (ATDC), technology clusters. and technologically-oriented businesses today is one of the a startup incubator, at Georgia Tech . R Promote Technology Square as Atlanta’s most desirable and entrepreneurs. world’s prominent While some companies are physi- Marija neighborhood for technology- and Opened in 2003, the $380 million, technology com- cally making the move to Midtown, The Zivanovic-Smith scientific-based companies. 1.4 million-square-foot development is panies,” said Marija Coca-Cola Co. recently chose the dis- R Foster innovations in high home to academic, research, hospitality, Zivanovic-Smith, trict to test its latest mobile marketing performance computing to serve a offi ce and retail enterprises, serving as a NCR vice president of global govern- campaign. Incorporating Bluetooth Low diverse research community. model for urban planners around the U.S. ment programs. “As part of reinventing Energy (BLE) technology and iBeacon, a R Enhance scientific modeling and Last year, The Home Depot Inc. the company, we made the decision in positioning system, Midtown Red gives simulation at Georgia Tech. announced plans to open the compa- 2009 to make Georgia our home .” participating restaurants, retailers and R Create a new ecosystem based ny’s fi rst university-based research and Locating its global core facility in Mid- entertainment venues the ability send around a unique facility modeling development center in the area. Addi- town puts NCR in close proximity to an special discounts and promotional off ers high-end computational/network/ data-intensive hosting. tionally, AT&T Mobility, Panasonic Auto- expanding hub of businesses focused in real-time to customers in the district motive Systems Company of America, on technological innovation, as well as who downloaded the mobile app. GE Energy, and ThyssenKrupp Eleva- near academic institutions such as Geor- “We wanted to leverage BLE tech- offi cials recently announced details of tor Americas are among a steady stream gia Tech, Georgia State University and nology, hardware and an app utilizing a the development selection process for the of companies that have established Emory University. Recruiting talented smart phone in one hand to place a Coke High Performance Computing (HPC) Cen- entrepreneurial outposts of one kind or employees in such an environment in the other hand,” said Peter Rohwer, ter. Th e two-phase process will determine another around Tech Square. should pose no problem for the human director of equipment commercializa- the developer of the 700,000-square-foot At the beginning of 2015, nearly six resources department. tion at Coca-Cola North America. Th e facility, which will house a data center years after moving from Dayton, Ohio “When you’re hiring, it makes it so Midtown Red pilot program has received and other business-oriented operations. to Gwinnett County, NCR Corp. revealed easy to hang a sign out the window ver- a “very positive response” from partici- “Th e selection process is scheduled for plans to relocate its headquarters to Cen- sus having to go off campus,” said Ashish pating merchants, according to Rohwer, completion in May, with fi nal presenta- tergy North, which sits at 8th and Spring H. Mistry, managing partner at BLH Ven- who said every off er that was entered into tions slated for April 13,” said John Maje- streets, near Tech Square. Th e move is ture Partners LLC. the system sold out . roni, Georgia Tech’s executive director for expected to bring as many as 3,500 to BLH makes early stage and growth At Technology Square, Georgia Tech real estate development . FEBRUARY 6-12, 2015 7B MARKET REPORT

VIEWPOINT Technology, creativity thriving in Midtown t’s been almost 30 years since I was an electrical engineering student at I Georgia Tech. I’ve been amazed to see how much Midtown has changed in those years. For the past three years I’ve been working daily at Tech Square and now as Midtown Alliance’s Innovation Council chair, I have seen, fi rsthand, the synergy forming between startup, John Avery is engineering group Community corporate, academic, governmental, and manager at Panasonic Innovation residential interests and the opportunity Center. for further growth. On the startup side, a concentration country enjoy. Th is needs to change. As of business incubators all within we continue to promote our collective At Emory University Hospital Midtown, walking distance of each other are successes, Midtown Alliance hopes to ensuring that new companies and ideas bring our district the national attention supporting the health of our community have the best chance of success. Th is it deserves. is a natural and vital extension of our year, Atlanta Technology Development Within the district, Midtown Center (ATDC) will graduate its largest Alliance, and specifi cally, the Innovation commitment to provide care that focuses class of companies yet. In the last Council, is furthering Midtown’s success three years, three dozen graduates through programs that promote cross- on the entire family. Because, to us, our of Flashpoint’s accelerator program collaboration. One way we do this is by have raised a collective $65 million connecting ideas and people together community is our family. in venture capital. And, Venture Lab through the Midtown Living Lab. has been recognized as a top global Th e Living Lab is a concept that university incubator. On a parallel track, brings innovation into the real-world in private companies such as Tech Square a way in which Midtown residents and Ventures, Core Venture Studio, and Tech businesses can be co-creators rather Emory University Hospital Midtown provides immediate Square Labs are locating in Tech Square than test subjects. A good example to join the critical mass. is Midtown Buzz. Th is partnership local access to more than 1,000 physicians in 28 specialties On the corporate side, a critical between Georgia Tech and Midtown mass of innovation centers is forming Alliance has introduced a set of mobile and is part of Emory Healthcare’s broad network of six between AT&T, Panasonic, Home Depot, application development tools. Once GE Energy, Th yssenKrupp, and others. fully developed, these tools will make it hospitals, 1,800 physicians and 200 provider locations that Th ese companies represent a broad easier for the Midtown community at- extends far beyond even Atlanta’s city limits, from LaGrange diversity of products and services that large to develop hyper-local apps. give Midtown a strong broad base for Another example of the Living Lab to Hiawassee and every community in between. innovation is Midtown Red, Coca-Cola’s mobile On the academic side, of course, app that gives residents, workers, we have Georgia Tech. I think it’s the and visitors access to special deals best engineering university in the and custom off ers from participating country but I’m biased. We also have restaurants, retailers and attractions two other successful institutions adding in Midtown. Th e pilot incorporates to the innovation landscape — Emory iBeacon technology, enabling businesses University and SCAD Atlanta. Th e to provide real-time deals to users while Coulter Department of Biomedical they are in the immediate proximity of emoryhealthcare.org/midtown Engineering is a rare example of the business. a private and public university Second, Midtown Alliance can 404-778-7777 collaboration between Georgia Tech and further Midtown’s position as a hub for Emory that has resulted in one of the innovation by integrating civic-oriented most successful bio-tech programs in innovations into Midtown Alliance’s the country. SCAD opened its Midtown existing programs and initiatives- campus in 2010 and has added a streetscapes, transportation, public creative dimension to the innovation safety, landscaping, and marketing. community particularly with its focus Showcasing creative concepts and on digital media. technologies will have a signifi cant and Finally, Midtown Atlanta is one daily impact on the community and of the few districts in any city that will, in turn, attract others to participate blends all this with a concentration of in this innovation economy. high-density residential and an offi ce Th rough these initiatives, Midtown environment with over 16 million Alliance hopes to be a model for how to square feet of leasable commercial engage the whole community around space. At the same time, the low density innovation. We are eager to work with development along West Peachtree individuals and companies who share and Spring streets provides plenty of this mindset and look forward to what opportunity for growth. we can do together as a community. Even with all these assets Midtown To learn more about Midtown’s has not yet achieved the level of Innovation EcoSystem, visit www. national recognition as an innovation MidtownATLInnovates.com. hub that other districts around the 8B ATLANTA BUSINESS CHRONICLE FEBRUARY 6-12, 2015 MARKET REPORT Midtown poised to activate streets with public art

BY KAREN COHEN importance of art in Midtown. Contributing Writer Los Trompos will be at “Seeing pieces of art makes you think,” Woodruff Arts Center she said. “It is intended not to answer all idtown Atlanta is commonly through November. the questions, but to give you an experi- thought of as “the heart of the ence. Midtown is about experience.” M arts.” Now, coming off the success of Mi With 25 diff erent arts and cultural ven- Casa, Your Casa, the High Museum will ues, more than 30 permanent perform- unveil this spring through November the ing arts groups, and 22 various enter- second large-scale public art installation, tainment facilities, Midtown features the Los Trompos, also by designers Esrawe largest concentration of arts facilities and and Cadena on the Woodruff Arts Cen- organizations in the Southeast. ter’s Carroll Slater Sifl y Piazza. But, it is not just the museum exhib- Los Trompos (“Th e Spinning Tops”) its, galleries, and theaters that make Mid- draws inspiration from the form of a town the cultural epi-center of Atlanta. It spinning top, a toy popular with children is also the public art that enlightens the around the world. Th e installation will streets of Midtown. feature more than 40 three-dimensional, Public art is just that, art in public larger-than-life tops in a variety of colors spaces. It is free and accessible to the SPECIAL and shapes. Visitors will be able to spin community. But, public art is more than the tops and interact with the structure. just a structure. It is a way to engage the pedestrians and now we want to create Rockspinner And, this time the High Museum, in community. It gives a community its moments of curiosity along the way.” is one of 23 collaboration with Midtown Alliance, identity. But, Georgia currently ranks 49th in public art presented Midtown business leaders with Currently, Midtown hosts approxi- government funding for the arts. And, displays the opportunity to sponsor a top on their mately 23 pieces of public art through- Anne Lambert throughout property for $7,500. Th e hope is to line out the 1.2-square-mile Midtown district. Tracht, president Midtown. the streets of Midtown with interactive But, many of the at ConsultArt Inc. tops. pieces are tucked and Midtown Alli- To date, Bank of America Plaza, Geor- away on private ance board mem- gia Tech, Promenade, Selig Enterprises property and not ber, knows more Inc. and the Midtown Alliance have easily seen from is needed to bring agreed to host a spinning top on its out- the sidewalk. additional art to door property. And, more companies are And, after a Midtown. expected to sign on as partners. decade of devel- Anne “There is little The SLS Family Foundation has oping Midtown, Lambert Tracht to no money from approved the purchase of a spinning top Ginny community lead- the public sector at a Midtown location to be determined. Kennedy ers such as Ginny for art and we will And, Selig Enterprises and Daniel Corp. Kennedy, director need more private money to make this a are evaluating another purchase for the of urban design at more engaging city,” she said. 12th & Midtown project, as are other Midtown Alliance, are ready to take Mid- With the formation of committees owners of build- town to the next level. such as the Midtown Street Activation ings within the “Art is the next layer of enhance- and Public Arts Committee, community development. ment that we will add to the street leaders are looking at how to bring more Scott Selig, vice level experience in Midtown,” she said. public art interactions to the streets. president of Selig “Our streetscape program has created a “The goal of the committee is to Enterprises, sees beautiful and functional framework for involve and encourage more corporate the benefi ts of cor- engagement and public art displays,” porations sponsor- R CLOSER LOOK said Tracht, who will sit on the commit- ing public art. tee. “All the great cities like New York and Scott “Public art on R Number of spinning tops in Los Chicago have public art programs. And, Selig your property Trompos: more than 40 we want more of that to make Midtown SPECIAL draws people to R Cost to host a spinning top on an urban experience.” your location,” he said. “It provides a property: $7,500 Take for example, last summer the also became a stage point of interest and gives people a rea- R Time it will take to install Los Trompos: a week and a half High Museum of Art hosted Mi Casa, for performances son to stop and interact, sit, and play on Your Casa by Mexican designers Héctor with local artists your property. Anytime you can get peo- R Number of visitors to Mi Casa, Your Casa: more than 100,000 Esrawe and Ignacio Cadena outside in and performers ple to stop, as a property owner, is a good R Georgia’s rank in public art funding: the center of the Woodruff Arts Center’s across the Atlanta thing.” 49th campus on the Carroll Slater Sifl y Piazza. arts spectrum. Selig looks out his windows and sees R Number of public art pieces in Th e installation featured more than 40 Virginia Hep- the cranes. But, he says it is not just shops, Midtown: 23 three-dimensional, open frames in the ner, president and restaurants, and buildings needed to give R Number of people who visit Midtown shape of a house. It was a welcoming CEO of the Wood- Midtown unique character. “Now it is our cultural centers annually: 6 million space where visitors played, created and Virginia ruff Arts Center, job to make the in between streets more relaxed in hammocks. Th e installation Hepner understands the interesting, active, and alive.”

R CLOSER LOOK

Several pieces of public art are in and R “Playscape” by Isamu Noguchi, located R “Samuel Spencer” by Daniel Chester at the Federal Reserve/MARTA Plaza on around Midtown. Th ey include: in Piedmont Park French, located in front the Norfolk 10th Street R Southern corporate off ice on Peachtree R R “Rockspinner” by Zach Coff in, located “The Shade” by Auguste Rodin, located “World Athletes Monument” by Anton on the Woodruff Art Center campus Street. French is the same sculptor who Glikin, located at Pershing Point at the northeast corner of Peachtree created the statue of Lincoln at the R R and 10th streets “Trilon” fountain by Steff en Wolfgang Lincoln Memorial in Washington, D.C. “Blooming Hill” by SCAD/Atlanta George Thomas, located at the Arts students with facilitation by Gregor R “Sabine Woman” by Dorothy Berge, R District Plaza at Peachtree and 15th “Olympia” by Paley Studios, located in Turk, located at the southwest corner of located at the northeast corner of the Promenade II courtyard Peachtree and 14th streets streets Juniper and 10th streets R “Lift” by Andrew T. Crawford, located FEBRUARY 6-12, 2015 ATLANTA BUSINESS CHRONICLE 9B MARKET REPORT Midtown’s Greenprint plan begins BY RANDY SOUTHERLAND surveys said that implementing these “We calculated the speed of vehicles speeding down the one Contributing Writer types of projects was very important to way street. them, according to Hourigan. greenhouse gas savings from Midtown has already made great he goal is ambitious. Th e Midtown Th e plan will improve quality of life in those [energy-effi cient] strides in reducing energy use. Last year Alliance wants to make this area of the district through projects that range 19 of its largest buildings — represent- T Atlanta one of the most sustainable from conservation eff orts to infrastruc- buildings was equivalent to ing more than 10 million square feet of and energy effi cient in the nation. ture changes. Th ese are changes that will removing 3,500 cars from space — won the Energy Star Certifi ca- To do that, the nonprofi t organization help foster economic development in the tion. Th at fi gure is up from 16 the year has been busy implementing its Green- long run. the road and the water before. In addition, 28 buildings joined print Midtown plan, a comprehensive “Th e market forces in general are favor- saved just last year was the Atlanta Better Bulling Challenge and sustainability plan. From planting trees to ing cities and districts that are vibrant, pledged become more effi cient in their building bike lanes and installing “bios- pedestrian-centric, transit-rich and enough to fi ll 25 Olympic use of natural resources. Th ese partici- wales” to minimize fl ooding, the plan is green,” said Hourigan. “Th at (realization) swimming pools.” pants have already reduced energy con- making signifi cant reductions in the dis- was one of the impetuses for developing a sumption by 18 percent and water by 22 trict’s use of energy and water. plan around suitability for Midtown and DAN HOURIGAN, percent, beating the 2020 deadline for a “In the past we’ve looked at Mid- then creating the Midtown EcoDistrict.” Midtown Alliance 20 percent reduction. town from the perspective of land use He admits that Midtown is still a long “We see a steady improvement of and development,” way from being a sustainable community amount of water to the soil while remov- energy and water effi ciency for our build- said Dan Hourigan, with very little waste, “but we are consid- ing pollutants from water. ings,” said Hourigan. “We calculated the the Midtown Alli- ered a very green community and getting Th is particular project is the latest greenhouse gas savings from those build- ance’s director of greener every day,” he said. component of the plan to transform Juni- ings was equivalent to removing 3,500 transportation and One innovative project is in the testing per into a “green street” with high-effi - cars from the road and the water saved sustainability. “Th e stages and could make the district a great ciency lighting, bike lanes, wide side- just last year was enough to fi ll 25 Olym- Greenprint gives us bit more sustainable once it’s fully rolled walks and shade trees. pic swimming pools.” a new perspective out. Th e alliance is building two storm “(Bioswales) are really bio-detention Th e Midtown Alliance has also devel- on Midtown.” water runoff catchment areas (called bios- basins in the street with planted areas oped its own local recognition eff ort for Dan The EcoDistrict wales) on Juniper Street. Th e test sites will along that help absorb and recharge the energy savers. Th e Luminary certifi cation Hourigan is a central com- determine the best design for the areas, aquifers,” said Matthew Cherry an asso- program highlights businesses and build- ponent of the sus- which are intended to reduce fl ooding ciate with Lord Aeck Sargent. “Th ey take ings in Midtown that make a signifi cant tainability master plan, which launched during heavy downpours and the amount pressure off the city’s storm water system commitment to green practices. So far in 2012 after an extensive study and input of water going into the city’s sewers. by fi ltering the storm water back into the 22 businesses and buildings have joined from local residents and businesses. “We’re testing infi ltration rates (for ground before it gets to the pipes and the in implementing specifi c conservation “Th at plan really added a green layer rain water),” said Adam Williamson, catch basins.” initiatives. or green lens to the existing master plan,” principal with TSW, the landscape archi- Implementing the entire project for Recycling eff orts have taken off in a big said Hourigan. tecture company building the bioswales. Juniper will cost an estimated $4.2 mil- way in Midtown. Among the completed Th e Greenprint plan for this two and “We’ve done other bioswales, but not lion with most of that coming from fed- projects have been the placement of 50 half square mile area of Atlanta refl ects many have been done in Atlanta or in an eral transportation funding awarded by large recycling cans alongside existing the desire of local businesses and resi- urban district.” the Atlanta Regional Commission. Plans trash receptacles. In addition, the alliance dents to create a more sustainable envi- Th e test for these bioswales will deter- include barriers-separated bike lanes, is using rain water collected from 3,000 ronment in which to live. In fact, 90 per- mine the best kinds of plants and materi- energy effi cient LED lighting and sign- gallon cisterns to irrigate Midtown trees cent of respondents to Midtown Alliance als for the basins to return the maximum age and curbside bulb-outs to reduce the and landscaped areas. First ‘Luminaries’ begin to shine BY LISA R. SCHOOLCRAFT R Proscenium [email protected] R 1100 Peachtree Street EMPLOYER he Midtown EcoDistrict Luminar- R Heery ies program kicked off in early 2014 R as an eff ort to recognize businesses, Invesco T R buildings and organizations that are set- Working Buildings * ting the pace for sustainability in Midtown. R Federal Reserve Bank of Atlanta * Th e program came out of the Green- R Jamestown Properties print Midtown planning initiative com- R Lord Aeck Sargent pleted in 2012, where survey data, inter- R Triage Consulting Group views with stakeholders and ultimately R Alston + Bird * a recommendation from the Greenprint Midtown Executive Advisory Committee HOTEL led to its development. R Loews Atlanta Hotel Luminaries is a certifi cation program RESIDENTIAL BUILDING designed to highlight businesses and R Viewpoint buildings in Midtown that have made a signifi cant commitment to green prac- RESTAURANT tices. Participants earn points in fi ve cat- R South City Kitchen egories by implementing specifi c con- SPECIAL R Ecco * servation and sustainable initiatives. Th e R R One Atlantic Center * Lure * program off ers checklists for fi ve catego- So far, 22 Midtown buildings or enti- R * Gold level luminaries, the remainer are green level luminaries ries: offi ce buildings, residential build- ties in the fi ve categories are part of the Perkins + Will * R ings, hotels, offi ce tenants, and restau- program. Th ey are: Bank of America Plaza For more information about the pro- rants. Participants are rated Green or Gold R 1180 Peachtree * gram, visit http://www.midtownatl. BUILDING/BUSINESS Level based on the points they score on R Promenade com/about/midtown-ecodistrict/ R 1075 Peachtree the checklist. R Centergy One luminaries-program. 10B ATLANTA BUSINESS CHRONICLE FEBRUARY 6-12, 2015 MARKET REPORT Alliance works on transportation plan BY DOUG DELOACH units have gone through the development to monitor and change the timing of sig- curbs, streetlights, and trees; and the ren- Contributing Writer review process, in the MID. Th ose fi gures nals based on dynamic conditions, some- ovation of Pershing Point Park. are complemented by 600,000 square thing the Buckhead and the Downtown “The emphasis has been, and will ffi cials at the Midtown Alliance feet of offi ce and institutional space, along CIDs are already doing. remain, on quality of life,” said Ross, who recently announced the launch- with about 350,000 square feet of retail On 14th Street, a simple, short-term also serves on the Midtown Alliance board. O ing of a new, comprehensive space, currently under development. strategy has been proposed to alleviate a One transportation project with a transportation study designed to help traf- “The new study will enable us to recurring bottleneck by eliminating the signifi cantly higher profi le, which has fi c engineers and city planners attain and model the eff ects of this development on left-hand turn by westbound vehicles already been favorably assessed by the sustain a more effi cient, higher perform- the transportation network and provide approaching the connector. Midtown Alliance, is an extension of 15th ing transportation system in one of Atlan- insight into which improvements will Other recently completed transporta- Street. Currently, the street stops at West ta’s fastest developing districts. produce the best results,” Green said. tion projects include aesthetic enhance- Peachtree instead of connecting through “It will be a robust study — streets and Along with the Midtown Alliance, the ments to the three MARTA stations in the to Williams Street. traffi c fl ow, transit assets, bicycle lanes city of Atlanta and Georgia Department district: Arts Center, Midtown and North Modeling for the project, which is esti- — everything that will ensure Midtown of Transportation will participate in the Avenue (four when Civic Center station is mated to cost $2.5 million, has been com- can be conveniently accessed regardless study with guidance and input from area included); greenspace maintenance and pleted. Th e project will be submitted for of transportation property owners and stakeholders. Th e fresh landscaping installations; pedestrian funding to the Atlanta Regional Com- mode,” said Kevin study is expected to be completed by the and circulation improvements including mission when the agency issues a “call- Green, president end of 2015. federally compliant access ramps, wider for-project” in early April . and CEO of Mid- “Th e multi-modal plan will build on town Alliance. previous work and ongoing programs,” “The study is said Catherine L. Ross, deputy director going to help us of the National Center for Transportation understand with System Productiv- Impact of Peachtree much greater preci- ity and Manage- Kevin sion how the trans- ment at Georgia Green portation network Tech. Corridor in Midtown is being used and Officials are who is using it,” Green said. “Th e data about half way n 2014, Midtown Alliance, Central will go way beyond a simple traffi c count.” through one proj- Atlanta Progress and the Buckhead Historically, traffi c studies have been ect, which began 241,200 Community Improvement District direct jobs in the corridor, and another undertaken to support singular projects last year, to opti- I collaborated to conduct a high-visibility 338,900 indirect jobs ranging from streetscape improvements Catherine L. mize around 100 economic and fi scal impact analysis of and traffi c signal monitoring to construct- Ross signalized intersec- the Peachtree Corridor. Th e eff ort allowed ing a bridge across the I-75/I-85 interstate tions in Midtown. the three organizations to tell of the col- 70% highway. In each case, incremental deci- Th e project’s primary goals are to ensure of the city of Atlanta’s professional, sci- lective impact of the corridor. sions were driven by local conditions and equipment functionality and coordinate ence and technical jobs Th e report, by the Bleakley Advisory needs. In light of the accelerating pace signal timing to achieve the most effi - Group, examines the 8.4-mile Peach- THE MIDTOWN PORTION OF of Midtown development and concur- cient fl ow of vehicular traffi c. Enhance- tree Corridor and the economic impact PEACHTREE: rent increase in population and vehicular ments to the signal network will enable of Downtown, Midtown and Buckhead. It traffi c, Green and other offi cials decided intersection modules to ‘report’ to a cen- found the Peachtree Corridor’s impact is it was time to take a more broadly con- tral command center, allowing engineers both substantial and multi-dimensional $5.9 billion sidered view to determine the best route total value of real estate in Midtown — as a job center, destination for visitors, forward. R revenue generator and home to the mil- “We asked ourselves why we shouldn’t CLOSER LOOK lennial and Generation X demographic. treat Midtown as a small municipality 33.4 million Over the last 12 years, the MID has Th e Peachtree Corridor contains just square feet of commercial space with its own model, which would include contributed over $20 million to 3.7 percent of the total land area of the currently in Midtown every street, intersection and thorough- leverage more than $400 million in city of Atlanta. But it produces: fare in the area, as well as in the imme- public and private funding to: diately surrounding areas,” said John S. R Construct pedestrian and bicycle $2.6 billion McColl, executive improvements value of new construction vice president at R Enhance transit accessibility and $87 billion currently planned in annual economic activity. Th e Peach- Cousins Proper- traff ic flow tree Corridor is an economic engine for ties Inc. R Provide needed public park spaces the city, the region and Georgia. Officially, the R Carry out other special projects 2.7 million square feet of offi ce space currently in Midtown Improve- including: the development pipeline ment District (MID) • Routine pavement maintenance, 7% encompasses about such as sidewalk repairs, paver of the state of Georgia’s annual revenue 1.2 square miles. replacements, and driveway/ from income, sales and gas taxes. ramp repairs 7,375 John S. Th e southern bor- apartments and condominiums cur- • Landscape management McColl der, according to including tree planting and rently in the development pipeline Green, is “some- 29% replacement, water-wise of the city of Atlanta’s general fund where around Pine Street” while the gardens, tree well adoption, budget northern edge is defi ned by the Peach- flower pots, and median 28% Projected jobs increase in next 10 years tree Street bridge at the Brookwood split/ landscaping Amtrak station. To the east, the MID • Multi-modal enhancements 27% stops at Piedmont Park. To the west, it including bicycle rack of the Atlanta Public Schools annual installation 75% hops across the connector to include the revenue from property taxes of Midtown residents are highly edu- • Management of trash and Turner Broadcasting campus. Laid out cated stats (68% have college degrees) recycling, and placement of AND IT SUPPORTS: in a grid format, the MID’s 1.2-square- new receptacles mile footprint contains around 25 linear • Public art miles of streets and approximately 150 25% • Amenities and urbanism 58% of the city’s professional, science, tech- intersections . of the city of Atlanta’s jobs initiatives including installation nology, management and IT jobs Growth is surely on the way. Green of Little Free Library locations estimated 1,500 mixed use residential SOURCE: MIDTOWN ALLIANCE units are under construction, and 6,000 FEBRUARY 6-12, 2015 ATLANTA BUSINESS CHRONICLE 11B MARKET REPORT Bankoff brings leadership to alliance

BY LESLIE JOHNSON during the 1990s, the Federal Reserve’s Contributing Writer move to Tenth Street, the eff orts to pre- serve the Margaret Mitchell House, and oseph Bankoff brings his longtime Colony Square development. Atlanta leadership, perspective and In recent times, Midtown’s bragging J appreciation for the arts, education, rights include NCR Corp.’s decision to and business worlds to his new role as move its headquarters to Technology chairman of Midtown Alliance. Square from Duluth; Panasonic Auto’s “I don’t come to this with a separate R&D center opening at Georgia Tech; and agenda,” said Bankoff , chairman of the the opening of the AT&T Foundry Inno- Sam Nunn School of International Aff airs Joe Bankoff wants vation Center. at Georgia Tech and former CEO of the to build on Midtown In addition, the area has had more Woodruff Arts Center. “I come to this Alliance’s work. than $4.5 billion of new investment since with an appreci- 1997, according to Midtown Alliance. ation of what the Midtown Alli- Transportation: “Very ance and Midtown high on my list” Improvement Dis- JOANN VITELLI Addressing transportation and traffi c trict have been try- issues remains one of Midtown Alliance’s ing to do.” Vibrant urban district continue to lead Midtown’s continued top priorities. He takes over Bankoff is “exceptionally qualifi ed” for growth and success in the future. Being Bankoff said the city was designed the chairmanship the chairman duties, said Lockhart, who chair was a true honor and a lot of fun,” when it wasn’t thought that more than Dennis from Dennis Lock- during his time in the role brought more Gellerstedt said. a million people would be in it, so it Lockhart hart, president and awareness to technology-oriented eco- will continue to take a concerted eff ort CEO of the Federal nomic development and supported new Revival and renovation to make the changes to meet Atlanta’s Reserve Bank of Atlanta. leadership talent at the alliance, includ- Bankoff is inheriting a role in the mid- growth. Bankoff ’s involvement in civic and ing getting Kevin Green on board as the dle of an arts, tech and development gem, “It’s very high on my list but it’s some- community aff airs in Atlanta runs deep. leader of the organization. but he remembers when Midtown wasn’t thing Midtown can’t do by itself,” Ban- He is the vice chairman of the Georgia “I think Midtown is on the move as a the vibrant urban core that it is now. koff said. Foreign Trade Zone, and previous board district,” Lockhart said. “Midtown Alli- It was an area largely characterized by Th ere has been progress. Th e Midtown affi liations include the Georgia and Metro ance deserves some of the credit for that. blight, not boom. He was a young lawyer Traffi c Operations Program is a $3 million Atlanta chambers, the United Way of I’d like to see them continue with what I at King & Spalding, living in Midtown in traffi c signal improvement eff ort. Started Metropolitan Atlanta, and the Atlanta consider a well-spread range of activities. a “pill box of an apartment.” in 2013 and lasting over three years, it is Speech School, where he was chairman, Midtown has the opportunity to have the “When I fi rst came to Atlanta, Mid- focused on taking the pressure off traf- and the Atlanta Symphony Orchestra, most vibrant urban districts in the whole town was the place you came through fi c buildups and improve overall safety where he was vice chairman, among country.” with the windows rolled up,” he recalled. for those traveling through and around many others. Bankoff spent 32 years as a senior part- Changes began happening after the Midtown, and has already seen positive His approach to his latest respon- ner at the King & Spalding and six years 1962 airplane crash in Orly, France in results in peak traffi c times, according to sibility isn’t to reinvent the wheel that as president and CEO of the Woodruff which several Atlanta art patrons were information about the Georgia Depart- Midtown Alliance has set in motion, Arts Center. killed. ment of Transportation-funded program but to keep the innovative ideas rolling “Joe Bankoff has been a true leader in In their memory, the center that would on Midtown Alliance’s website. to ensure the area strengthens its posi- the transformation of Midtown which become the Woodruff Arts Center was Th ere are more discussions, and work, tion as a “walkable, livable, playable makes him uniquely qualifi ed to be chair created, helping to catapult the city’s to be done. community.” of the Midtown Alliance,” said former arts community and off erings and to turn “It’s one of the issues I think is impor- “When Dennis asked if I could take on chair Larry Gellerstedt, president and things around in Midtown. tant for all three of the CIDs,” Bankoff the role of chair I was elated to have the CEO of Atlanta-based Cousins Proper- “It really began a whole pattern of said. “I’m very much aware of the trans- opportunity,” Bankoff said, “but I can tell ties Inc., through e-mail correspondence. revival and renovation,” Bankoff said. portation problem and I think that’s a you my goal is to continue on the path “Midtown is one of the most vibrant Among the notable changes for Mid- critical issue. We run the risk of stran- we’ve set for ourselves, where Midtown and exciting markets in the country and town, Bankoff said, were the relocation gling on our own success if we don’t fi nd is one of the stars of the whole region.” the Midtown Alliance has led and will of several law fi rms moved to the areas a way to fi x it.”

CONTINUED FROM PAGE 1B community in the Southeast is that it is tech-savvy professional who wants to R CLOSER LOOK truly walkable .” gather and socialize where they work Blueprint Midtown is a community some time but accelerated quite a bit over Tony Rizzuto, professor and chairman and live. designed master plan. It makes policy the last fi ve years with the advent of high of the architecture department at Ken- Kristen Morris, vice president of realty recommendations in the following areas: rise residential. People are choosing to nesaw State University, member of the at Jamestown and member of the Mid- R Land Use – promotes a balanced mix pay a premium to live an urban lifestyle.” Midtown Alliance board of directors and town Development Review Committee, of uses with a focus on active uses at Because of this, he believes now is president of Midtown Neighbors’ Associ- believes as the economy strengthens this the street level the time to engage with developers to ation, said it’s important for a community is a great time to plan for the next 15 years R Street Framework – develops a street encourage street level engagement. “Part to know where and how it wants to grow. of development in hierarchy that categorizes streets into of what 3.0 is seeking to do is put more “What we are trying to do there is pro- Midtown. signature, primary and secondary streets to provide definition on where teeth in the requirements for people who vide a framework for people looking to “Midtown Alli- to best focus large-scale retail are building on Midtown streets,” he said. invest in the area, by establishing design ance already has a R Public Spaces – includes art, parks, He believes both the planners and standards and a framework for develop- good plan in prog- and street level activation developers can be happy with the results. ment. Th is helps everyone be on the same ress so seeing them R Transportation – includes places Midtown Alliance wants energy on the page about how development and growth take the care to to expand the street grid and to street and the developers want their proj- comes together,” he said. pause to see where incorporate additional parallel ects to be profi table and Toro said the two Rizzuto believes promoting sustain- they are, assess parking, 2-way conversions, bike can work in concert with each other. ability practices to implement in the Kristen the progress that’s lanes, streetscapes, and transit “I think we have missed the boat — not district, maximizing current mass tran- Morris been made, the R Historic Preservation – identifies existing historic resources and in all instances, but in some instances sit system, making the district more market condition neighborhoods and recommends — engaging the pedestrian at the street pedestrian friendly and improving the and the developments that are taking the preservation and enhancement level in the design and operation of our streetscape are all key elements to help- place and then build on what they have thereof buildings,” Toro said. “Th e one key dif- ing defi ne the “spirit of the place” for the already have is exciting,” she said. ferentiator of Midtown versus any other new residents of Midtown — the educated,