Fuqua Development has demolished the old Rock Springs shopping center and will soon knock down the old Taco Cabana restaurant (and more recently Mama's) at the corner of Piedmont and Cheshire Bridge roads for a new mixed-use development called Morningside. The 6-acre property will have 300 apartments and 44,000 square feet of real space including anchor tenant Sprouts Farmers Market.
There's power in being the last firm standing, as a consortium led by Pope & Land Enterprises and Fuqua Development is the frontrunner to land the $400-million development deal at the new Atlanta Braves ballpark site.
The site in suburban Cobb County was chosen by the Braves and county officials both for its freeway location and its development potential. That potential attracted the attention of the likes of AEG (whose plan originally included heavyweight Hines Interests) and two other large firms.
But AEG and the other firms dropped out, leaving one group standing: Pope & Land Enterprises, Fuqua Development LLC, Pollack Shores Real Estate Group, and Batson Cook Development Co. Ironically, the plan from the Braves and Cobb County looks much like the AEG entertainment development next to Staples Center -- L.A. Live.
A powerhouse team that included Los-Angeles-based sports and entertainment company AEG has pulled out of consideration to develop the mixed-use project surrounding the Atlanta Braves new Cobb County ballpark.
The move was confirmed by sources familiar with the project.
The AEG development group also included Houston-based Hines Interests and Cincinnati-based North American Properties. Hines’ Atlanta executives could not be reached. North American Properties declined comment.
Only one development group, led by Atlanta developer Jeff Fuqua, is left in the running to build a proposed "entertainment district" near the proposed Atlanta Braves stadium in Cobb County.
The Atlanta Business Chronicle, speaking with unnamed sources close to the project, reports that a strong contender vying to build a $400-million mixed-use project adjacent to the baseball stadium has dropped its proposal.
The proposal was submitted by American Entertainment Group, Hines Interests, and North American Properties. Mark Toro, managing partner for North American Properties in Atlanta, declined to comment. CL has reached out to the other two companies for more information.
If the group's proposal gets withdrawn, that leaves only one group of Atlanta-based developers - the team of Fuqua Development, Pope & Land Enterprises, Pollack Shores Real Estate Group, and Batson Cook Development - left.
The Atlanta Braves have tapped world-renowned architect Jon Jerde to help design the mixed-use development surrounding the team's new Cobb County stadium.
Jerde, who founded his Venice, Calif., firm The Jerde Partnership Inc. in the late 1970s, gained international fame as an architect for his work on projects such as the 1984 Olympics in Los Angeles; the Bellagio hotel in Las Vegas; and Canal City in Fukuoka, Japan.
Closer to home, Jerde Partnership designed the master plan for The Coca-Cola Park downtown, including the World of Coca-Cola attraction.
Jerde Partnership wanted the project to be a showcase for Coke's memorabilia and the company's commitment to sustainability.
The time for Underground Atlanta has come. Again.
History repeated itself last week when Mayor Kasim Reed announced a new phase in the ailing shopping mall's future: plans to rid the city of the responsibility - and cost - of Underground by buying out the management company and selling it to a developer.
The news set off speculation about what will become of the multi-tiered facility. Some see a hotel. Some want office space. Others see student housing or maybe an arts campus.
In a city that loves to dream big, there's no shortage of ideas. And Reed wants to let the private sector - or maybe Georgia State University - turn a white elephant into a prize.
"Sometimes the best redevelopment of the project is demolishing it," said prolific Atlanta developer Jeff Fuqua, whose firm might be interested in the site.
Fuqua said the city stepping out of the way is a huge enticement - not to mention the incentives the city can provide to willing parties.
The Atlanta Braves can't turn to All-Star closer Craig Kimbrel for this one.
The Braves need to wrap up a critical decision, ideally in the next 30 days, about who will develop a $400 million to $600 million mixed-use project and entertainment district around the new Cobb County stadium.
In the past two weeks, Braves officials have been touring the existing projects of both finalists: Atlanta developers Fuqua Development LLC and Pope & Land Enterprises Inc. and the competing group - Los Angeles based American Entertainment Group(AEG), Houston-based Hines Interests and Cincinnati-based North American Properties.
There's certainly compelling reasons to sell retail assets these days-there are fewer than 60 shopping centers of 100k SF or larger in development across the US, there's not a lot on the sales block, and investors are wagging their tongues (and wallets), says Fuqua Development's Jeff Fuqua. (If you need more reasons than that then you've got trust issues.)
We chatted with Jeff about the spurt of recent development his firm is undertaking-some eight projects either underway or in the pipeline in Atlanta-and selling projects once they're completed is on his mind (no reason to get too attached, you can't legally marry the projects.)
A new natural foods grocer is coming to the Morningside neighborhood.
Fuqua Development LLC, headed by former The Sembler Co. executives Jeff Fuqua and Heather Correa, is about to break ground on a mixed-use project at Piedmont Avenue and Cheshire Bridge Road.
The anchor tenant will be Sprouts Farmers Market, sources say.
Fuqua said he could not confirm the tenant, but he did share how the project could transform the corridor between Midtown and Buckhead. Today, it's a hodgepodge of old shopping centers, restaurants and adult establishments.
The company behind L.A. Live, a retail and entertainment district in Los Angeles anchored by the Staples Center, is a finalist to develop the more than $400 million mixed-use project surrounding the new Braves stadium.
AEG, owner of L.A. Live, is partnering with Houston-based Hines Interests and Cincinnati-based North American Properties in a bid to develop the new mixed-use project surrounding the Cobb County Braves stadium. The other finalist is a partnership of well-known Atlanta developers: Fuqua Development LLC and Pope & Land Enterprises Inc. Jeff Fuqua, a former executive with The Sembler Co., is backed by Pope & Land on a spate of new projects in the works from Midtown to Kennesaw. Kerry Armstrong, Atlanta Regional Commission chairman, joined Pope & Land in 2012 after years of leading development and leasing efforts with Duke Realty Corp.