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New Hotel Tax for Sports Arena?
   
January 31, 2013
 
 

New Hotel Tax
for Arena?


The former GoldKist HQ site could become a sports complex, featuring ALTA-rated tennis courts, soccer, and lacrosse fields. (Good luck getting the soccer fans to respond to "quiet please' from the tennis refs.) That is, if the Mayor of Dunwoody's vision comes to fruition.

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Dunwoody Mayor Mike Davis exclusively shared his plan for the GoldKist building at 244 Perimeter Center East with us. He wants to propose raising the Dunwoody hotel tax to 8% and use the extra proceeds (projected to be more than $1M/year) to buy the 262k SF empty office building that sits on more than 15 acres fronting I-285. The city would then raze it to make way for the sports facility that could house up to 20 tennis courts, Mike says: "Every time I drive by that property, I think, 'Boy, it would be good for the city to own it." The site could be ideal to draw big tennis events, Mike says, given its proximity to MARTA, surrounding hotels, retail, and restaurants. (Imagine Roger Federer strolling down the streets of Dunwoody before a match.) "I don't think we consider it an albatross. I think we consider it an opportunity."
PM Realty (Piedmont14-3)

gold kist
Mike spoke with us yesterday morning after participating in a Jones Lang LaSalle panel focused on economic development and outlook at the St. Regis. The former GoldKist HQ (above)—which was vacated by the company last year after its merger with Pilgrim's Pride and placed on the market with Binswanger—is one of the last big blocks of contiguous office space left in Central Perimeter. And as such, it has generated interest from both potential users and investors, some of whom have eyed it as a potential multifamily site.


Ga Tech's Plans For Roosevelt House

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Breaking news from the student housing front. The former Roosevelt House site on Tech's campus will become a mixed-use student housing complex. Tech's Michael Black was one of our panelists at this morning's Bisnow Atlanta Construction & Development Summit at the Grand Hyatt in Buckhead, where he let slip the school's plans for the 11-story complex. (Loose lips may sink ships, but if they also build 11-story student housing complexes, we'll take the trade.) Michael tells us the development—which will include street-level retail—is still in design. With up to 500 beds, the project will help Tech top 9,000 on-campus beds. A housing crunch on campus could force the university to hold a lottery for freshman housing next year, he says.


Sandy Springs Lures Cox With Incentives

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Back to that 2013 JLL Real Estate Forecast Breakfast. Aside from Mayor Mike, the panel included Atlanta Metro Chamber of Commerce's Sam Williams, Brookhaven Mayor J. Max Davis, Sandy Springs Mayor Eva Galambos, and Roswell Mayor Jere Wood. Eva (right) told the packed room that Sandy Springs arranged $1.4M in incentives to Cox Enterprises for its second HQ tower on the Peachtree Dunwoody Road campus.


As Sam Sees It

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While often touted as a city for the "young and the restless," Sam says Atlanta lost some ground on attracting younger workers to its confines due to a general lack of job growth in the region. But that's changing: "We're really coming out of the pit," he says, noting a projected 40,000 in new jobs in the coming year, especially among tech companies. "It's a war for talent among cities, and the cities who win that war," will get the new jobs, he says. (We already got both Upton brothers on the Braves, so we've already won one battle for young talent.)


How Much For GM?

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Roswell Mayor Jere Wood lured General Motors' tech innovation center to the city with a $3,500/employee tax credit that will equate to a $14/SF reduction in equivalent rents. (GM is purchasing the former UPS Innoplex facility). As for a city's success, "quality of life is how you differentiate yourself," Jere says. "Residents are not looking for long commutes. They're looking for communities that are closer to their jobs."

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