Skyline Views

Does Jeff Bezos Love D.C. or What?

Enough said.

BREAKING: Huge Warehouse Deal is Home Run for Fulton County, Los Angeles Developer

ATLANTA (April 8, 2015) - A just-posted DRI filing seems to show that the mystery project at Majestic Logistics Center at the Fulton County airport is moving closer to revealing itself.

Majestic Realty Co.  of Los Angeles says it plans to develop 2.8 million square feet of industrial space at the park situated at 3945 Aviation Circle at the Fulton County Airport-Brown Field. Majestic will lease 341 acres for the development, according to the Development of Regional Impact filing.

This information jives with Bisnow Atlanta's year-old report that Majestic would lease about 300 acres from the county for  1 million-square-foot refrigerated warehouse for Kroger Co.

However, the location at "Charlie Brown" Field appears to be new info. Speaking of Charlie Brown the developer, his son Scott Brown is the project manager for Majestic on this huge deal, who some calle "Project Jasper." Had to happen.

We're hoping no one yanks this big football away from any one before its kicked through the goalposts.

Stay tuned (and check out the DRI filing below).

Buckhead Developer Has Cool Plans for Avondale Estates MARTA Lot

ATLANTA (Feb. 24, 2015) - It's great to see the TOD explosion in metro Atlanta, with MARTA taking the lead. It's also cool to see Buckhead developer (and Wilbert Group neighbor) Noel Khalil spearheading the proposed development at the Avondale Estates station.

Khalil's Columbia Ventures has filed plans to develop Columbia Park and transform the pedestrian-looking parking lot at the Avondale station to a thriving transit-oriented development. The project's scope prompted the city of Decatur to kick the proposal up to the state Department of Community Affairs for review as a Development of (Very Good) Regional Impact.

The project would be completed in 2021 and be worth the wait.

Here's the scoop:

Charlotte Ups Ante in Battle with Atlanta for New Jobs

CHARLOTTE (Nov. 18, 2014) - I wouldn't be surprised if Atlanta Mayor Kasim Reed places a congratulatory call to Bill Cronin today, though the mayor wouldn't be wishing him good luck in much success in Cronin's new venture.

That's because former Invest Atlanta VP Cronin - who played a key role in the city of Atlanta's economic development efforts under Reed - yesterday was named head of economic development in Charlotte. Cronin will leave his position as executive director of the American Red Cross' outpost in Columbia, South Carolina, and head a little bit north next month. In photo above, Cronin (right) celebrates the expansion and opening of a new headquarters of gaming company Thrust Interactive with Mayor Reed and Thrust CEO Jesse Lindsley.)

During his tenure in Atlanta, The Wilbert Group served as Invest Atlanta's public relations agency of record. I saw firsthand and got a behind-the-scenes look as Cronin helped woo major companies to the city of Atlanta - both from outside the metro area (PulteGroup) and inside (athenahealth). He used knowledge gained during economic development stints in South Carolina and Florida to best position Atlanta when the city competed with those states for new jobs.

We suspect the savvy Cronin will do the same and leverage what he knows about Atlanta and how the city and state incentive plans work to help Charlotte. Cronin discusses this overall strategy at this in an article in the Charlotte Observer.

“Having been a competitor to Charlotte in my previous roles, I understand the city’s strengths and challenges.

“I love Charlotte,” said Cronin, in a statement. “I am very excited about working with the business community.”

As for the Atlanta mayor, he's made it perfectly and publicy clear on several occasions that Charlotte is a second-tier city striving to be an Atlanta when it grows up. It will be interesting to watch things play out when Charlotte and Atlanta compete for the same headquarters relocation or new job-creating tech endeavor.

 

 

Atlanta Real Estate Executive Chosen to Lead Redevelopment of Jacksonville Landing

ATLANTA (Sept. 2, 2014) A well-known Atlanta commercial real estate executive has been selected to lead the redevelopment of the Jacksonville Landing, where football fans love to congregate each fall before the World's Largest Cocktail Party.

Tom Senkbeil of Atlanta was wooed by Toney Sleiman and other Sleiman Enterprises executives to shift his focus from Buckhead (where Senkbeil played a key role in the redevelopment of the former Paces Apartments site) to Jackonsville's landing.

Senkbeil's selection is big news in Jax, and the story got big play in a Daily Record article by Karen Brune Mathis. In her story, Karen quotes me because I covered Tom for several years before forming The Wilbert Group.

As former national chairman of NAIOP, Senkbeil is known on the national CRE scene. In the REIT world, Senkbeil has served as CIO of Weeks/Duke-Weeks, now Duke and at Post Properties. And in Atlanta, he served a stint as president of Carter.

Let's see what he can do in Jacksonville to make the annual Georgia-Florida game even more of an event.

Here's Karen's full story.

Tom Senkbeil, chosen to lead redevelopment of the Landing, has a history of success

401 Oberlin in Raleigh, N.C., holds similarities to the potential Jacksonville Landing redevelopment.

Monday, September 1, 11:08 AM EDT

By Karen Brune Mathis, Managing Editor

Developer Toney Sleiman says a bunch of mullet and some playful porpoises helped to persuade Tom Senkbeil to agree to redevelop the Jacksonville Landing.

Sleiman has long sought to redevelop the aging marketplace on the Northbank of the St. Johns River. He said he and other Sleiman Enterprises executives talked to their accountant in Atlanta, who recommended Senkbeil, a 41-year development veteran based there with experience throughout the Southeast.

Senkbeil said he wanted to see the Landing. They had dinner at Benny’s Steak & Seafood.

“There is the river, a beautiful day, clear, boats going by, a bunch of mullet fish and 10-12 porpoises started jumping up in front us in front of the bulkhead,” an excited Sleiman recalled.

“He looked over at me and said, ‘I’m going to do this because of these dolphin and porpoises,’” Sleiman said.

Senkbeil remembered the dinner a little differently.

“That’s probably Toney’s version,” he said Wednesday in a telephone interview. “I don’t think the dolphins actually sold it.”

What sold it was the potential of the Landing.

“It’s a fabulous location on a great river with a tremendous environment to have a project like this,” Senkbeil said.

Sleiman wants to tear down and rebuild the 27-year-old marketplace with 300 apartments, parking, restaurant and retail space and possibly a boutique hotel.

Senkbeil said another factor was the nationwide trend in millennials’ desire to live in a more urban setting. Apartments at the Landing would be an opportunity to bring more young people Downtown.

An obvious third factor is Senkbeil’s experience in redeveloping Downtown properties into mixed-use and residential projects.

“I’ve done it, yes,” he said.

41 years of project experience

Senkbeil, 65, said he preferred any discussion to be about the Landing and not him.

“This project is not about it me. It’s about the project and not everything else,” he said.

But a lot of “everything else” can accumulate over 41 years of experience. Online summaries say his “real estate career includes wide-ranging experience in acquisitions, dispositions, development, asset management and joint ventures.”

He earned an undergraduate degree in engineering from Auburn University in 1971 and an MBA from the University of North Carolina at Chapel Hill in 1973.

After working for others in the industry, he formed his own company in 1984.

It’s been a busy 30 years.

He bought out a partner and then merged with another company to form Weeks Corp., where he served as chief investment officer, executive vice president and vice chairman of the board.

He was instrumental in its initial public offering and its merger with Duke Realty to become Duke-Weeks Corp.

Senkbeil then served as president and chief operating officer of Carter & Associates before joining Post Properties in 2003 in Atlanta, where he was CIO and executive vice president.

Senkbeil was responsible for its assets and the asset management of projects from Washington, D.C., through North Carolina, Atlanta, Florida and Texas.

While Senkbeil was with Post, the company developed the Four Seasons Residences in downtown Austin and The Ritz-Carlton Residences at 3630 Peachtree in Atlanta’s Buckhead area.

It was at Post Properties that Senkbeil really developed his focus on multifamily projects. “It was my introduction to the multifamily business,” he said.

Today, PostProperties.com lists almost 60 “Post” branded communities in Atlanta; Austin, Dallas and Houston, Texas; Charlotte and Raleigh, N.C.; New York City; the Washington, D.C., area; Orlando and Tampa.

During Senkbeil’s tenure, all the Post developments were high-density, mixed-use urban properties. Post also sold some older suburban apartment properties, he said.

He said one of the properties Sleiman viewed was Post Alexander in Atlanta’s Buckhead area. Post developed the 307 luxury apartment home community in Buckhead and is now adding a 340-unit second phase.

Senkbeil left Post Properties at the end of 2008 and formed Senkbeil & Associates, which invests in multifamily properties and provides consulting and advisory services to investment firms, developers and lenders.

He also continued to develop in-town multifamily projects.

In 2011, he was part of a group of real estate executives who teamed with Camden Property Trust to purchase and redevelop the Camden Paces in Buckhead. Camden Property Trust owns the project.

The apartments, Townhomes, Terraces and Towers include saltwater swimming pools, a social gaming lounge and a cross-training fitness center. It should be completed by the end of this year.

Early last year, Senkbeil joined Iron Tree Capital LLC, a real estate investment and advisory firm, as a principal while continuing with his own firm.

Senkbeil said one of his more recent projects is the 401 Oberlin luxury apartments in Raleigh, N.C., in which he is a partner.

The 401 Oberlin, in the heart of Raleigh, comprises 244 studio, one-, two- and three-bedroom units that will be fully opened by the end of September. Its website describes amenities that include “Rooftop Terrace With Captivating City Views.”

He also knows residents like retail. He said 401 Oberlin’s retail space includes the Tupelo Honey Café, a Southern restaurant that operates in North and South Carolina, Tennessee and, next year, Atlanta.

Perhaps the Jacksonville Landing? “I’ll certainly call them.”

Senkbeil said the Landing holds similarities to 401 Oberlin, saying both are high-density projects with “high-quality multifamily properties” and structured parking.

The point man now

Sleiman wants the city to spend $11.8 million to improve the public space surrounding the two redeveloped Landing buildings, estimated at $55 million to $75 million.

As Sleiman handles the political side, lobbying City Council and working with a supportive Mayor Alvin Brown, Senkbeil will take over the project development.

“He’s my point man now. I assigned everything to him,” Sleiman said.

That includes bids, development, project construction, “everything,” Sleiman said.

“He’s going to do it. I’ve never done it,” Sleiman said.

Sleiman said he did his homework. “He is very, very, very good. He has a great reputation. We checked him out.”

Senkbeil said he met Sleiman a few months ago. “He is a very impressive person. We all work together very well,” Senkbeil said.

Steve Crosby, president of Jacksonville-based CSX Real Property Inc., met Senkbeil on the NAIOP national board in the 1990s and said they served together in one capacity or another for 10 years or so. Both are governors of the NAIOP Research Foundation.

Crosby said he hasn’t done a deal with Senkbeil, but describes him as a “good businessman, straight shooter, nice guy.”

Former newspaper reporter Tony Wilbert covered Senkbeil.

Now owner of the Wilbert Group, an Atlanta-based communications firm, Wilbert spent much of his journalism career covering real estate, including at The Atlanta Journal-Constitution, Atlanta Business Chronicle and as editor of the National Real Estate Investor.

Wilbert said Senkbeil is a very well-established developer, quickly listing the experience with Duke, Duke-Weeks, Carter and Post Properties. ”He does what he says he is going to do.”

Wilbert said he covered Senkbeil from 1996, the year Senkbeil served as the national president of what is now known as the NAIOP Commercial Real Estate Development Association, through 2004.

“Tom is a great investment guy and is a developer and he’s worked at the premier companies in Atlanta,” Wilbert said.

“He definitely is well regarded and has been hired by the best real estate firms in the Southeast.”

Wilbert describes Senkbeil as “very intellectual with great vision.”

“He puts together a great team,” he said, noting Senkbeil’s connections from his companies. And as a CIO, “he knows how to access capital.”

“I think with Senkbeil coming in, whatever he says he’ll do, it’ll get done.”

 

The next steps

Senkbeil’s position is to coordinate the project, including assembling designers, contractors and the other professionals needed on what he expects will be a big team.

Last week, the Jacksonville Civic Council raised issues with Sleiman’s initial design, saying “our community should capitalize on the expertise of local and national leading architects and real estate developers by engaging in an open design process and community dialogue that brings the best and the brightest ideas to bear on this public venue.”

It called for the Downtown Investment Authority to convene a public review process. “Public investment in the Landing can only occur when a community engagement process is conducted and an iconic design is completed and presented.”

Sleiman said he and Brown had already planned to have a public meeting.

“I welcome any of our citizens or organizations to take their time and skills to offer designs and or renderings for this redevelopment plan,” Sleiman said. “We would gladly look at those submittals and consider them.”

Michael Stuebben, an architect and regional office manager with Bergmann Associates, is the principal-in-charge and leader of the design team assembled by Bergmann for the Landing concepts that were presented.

He said the concepts were a direct result of the recommendations made in the Downtown Feasibility Study prepared this year for the DIA.

“The design is conceptual at this time and the architecture will be undergoing much further development. We anticipate this process to commence soon working toward a public presentation for community engagement,” he said.

Senkbeil also will be working with the Sleiman organization on the financing, once Sleiman Enterprises receives city support and decides to proceed.

“The first thing we are doing is making sure it makes financial sense,” Senkbeil said. That decision comes simultaneously with the design phase, he said.

There are several financing possibilities he said, including using strictly Sleiman resources; forming a partnership with another entity; or seeking institutional backing, for example.

“All those possibilities are on the table at the present,” he said.

If the city approves the $11.8 million for the Landing and the deal takes off, Senkbeil will be spending more time in town.

He said he’s been here a few times, including in the past several weeks. “This will take a lot of my time,” he said.

Asked about challenges at the Landing, Senkbeil noted that it’s in an urban area, that working near a river creates its own physical challenges for construction and planning, and “we all deal with the unknown of the economy.”

Senkbeil said his hometown of Atlanta has evolved its Downtown over time with housing, retail and restaurants.

“I think there is no reason the same thing can’t happen in Jacksonville in a much smaller way,” he said.

The Landing project, he said, “will be a game-changer for the Downtown area.”

 

 

 

***

 

The Thomas D. Senkbeil file

 

Age: 65

Real estate career includes wide-ranging experience in acquisitions, dispositions, development, asset management and joint ventures.

 

Education: Bachelor of Science in Industrial Engineering, Auburn University, 1971. Master of Business Administration, Kenan-Flagler Business School at the University of North Carolina at Chapel Hill, 1973.

 

1973-1984: Worked for several real estate development companies.

 

1984-1992: Co-Founded Anderson & Senkbeil Inc., developed $3.5 million of office and industrial space in six offices parks throughout Atlanta. Merged with A.R. Weeks & Associates in 1992 to form Weeks Corp.

 

1992-2000: Chief investment officer and executive vice president of Weeks Corp. and vice chairman of the board. Instrumental in Weeks’ initial public offering in 1994. Expanded from two cities to nine in five years and grew total capitalization from $350 million to $2 billion. Merged with Duke Realty to become Duke-Weeks Corp. in 1999.

 

1996: Volunteer national chairman of the National Association of Industrial and Office Properties (now the NAIOP Commercial Real Estate Development Association). Previously was president of NAIOP Georgia.

 

2000-2002: President and chief operating officer of Carter & Associates, an Atlanta real estate firm.

 

2003-2008: Chief investment officer and executive vice president of Post G.P. Holdings Inc. and Post Properties Inc.; general partner of Post Apartment Homes L.P. Plays key role in Post Properties’ development of eight mixed-use communities in Georgia, North Carolina, Texas and Washington, D.C.

 

January 2009-current: Formed Senkbeil & Associates to invest in and develop primarily multifamily and some commercial properties and provide consulting services.

 

January 2013-current: Principal, Iron Tree Capital LLC.

 

 

 

kmathis@baileypub.com

@MathisKb

(904) 356-2466

Local Commercial Real Estate Expert Kirk Rich Joins Invest Atlanta Board

ATLANTA (Aug. 18, 2014) - Invest Atlanta, the city's economic development arm, knows first hand that real estate is at the heart of most of what it does. So, it makes total sense that local real estate executive and expert Kirk Rich has been appointed to its board of directors.

The Atlanta City Council already has approved Rich's addition to the board of Atlanta Development Authority, whose dba is Invest Atlanta. In photo above, Rich is on the right. He is with Paul Aase of Roberts Commercial Real Estate Services and Jeff Pollock of Pollock Commercial.

The Invest Atlanta board will approve its fiscal year 2015 directors at Thursday's meeting.

There's also an item about bonds for the National College Football Hall of Fame on the agenda, so I bet Mayor Kasim Reed, who chairs the Invest Atlanta board, will be there to join in affirming the City Council's action. Plus, we were the first to call Reed the "Real Estate Mayor," and now that the local paper of record seconded, it must be true.

Kirk founded Rich Real Estate Services in 2001. His commercial real estate credentials stand up against anyone in the city, and his knowledge will help Eloisa Klementich, Kevin Johnson, Ernestine Garey and whomever is chosen to replace former President and CEO Brian McGowan, who left earlier this year to be COO at the Metro Atlanta Chamber. He now also heads economic development efforts at the Metro Chamber.

McGowan shifted Invest Atlanta's focus to one centered on attracting companies and people prepared to make investments in the city. The Wilbert Group helped communicate the organization's new mission during the years we served as Invest Atlanta's public relations agency of record.

Commercial real estate brokers play a key role in corporate relocations, expansions and development, so Rich's insight will be especially helpful to Invest Atlanta's board, which includes ex official members from local governments (City Council, Atlanta mayor's office, Fulton County Board of Commissioners, Atlanta School Board) who likely are not in commercial real estate.

According to his bio, "Kirk has completed more than 1,100 commercial leasing, property acquisition and disposition transactions during the past 23 years. He currently serves as Board President of the Georgia Chapter of The Society of Industrial and Office Realtors (SIOR). SIOR is a prestigious global organization of the top 2% of commercial Realtors. Kirk also is a Director with the Atlanta Commercial Board of Realtors and is a member of CCIM, NAIOP, NAR and the Atlanta Board of Realtors. He has consistently ranked in the NAIOP and ACBR Million Dollar Clubs annually throughout his career."

Here's the official word from Councilman Alex Wan's Facebook page: "Congratulations to my friend Kirk Rich for being unanimously confirmed by Atlanta City Council to serve on the board of Invest Atlanta! You're going to be great, and thank you for your willingness to serve the City of Atlanta."

In turn, Rich responded (via Facebook, of course):  "I look forward to serving and doing my part to keep Atlanta the best city ever! Very excited and honored to be appointed!!!"

 

 

Atlanta Developer Wins Key Vote in Restoration of Historic Savannah Retail District

SAVANNAH, Ga. (June 27, 2014) - Atlanta developer Ben Carter won a key vote yesterday that will enable him to continue his work restoring and returning Savannah's famous Broughton Street to its past retail glory. The city's Zoning Board of Appeals overturned an earlier vote by the Savannah Historic District Board of Review to demolish a building that has been covered in stucco to make room for a new building that will better fit with Broughton Street's architectural fabric.

Here's the full story of Ben Carter's vision for Broughton Street.

SAVANNAH, Ga., June 26, 2014 (GLOBE NEWSWIRE) -- Ben Carter Enterprises has acquired 27 properties on Broughton Street in Savannah's Historic District and has begun work on renovating and restoring all but one of them. The firm is planning varying levels of renovations and repairs including exterior repairs, façade restorations, new exterior storefronts, entry modifications, an awning replacement and roof deck improvements. Only one building will be demolished.

The team Carter has assembled is pursuing its overall vision of returning Broughton Street to a vibrant community with art, music, cultural events and enlightening experiences. Broughton Street's retail offerings will be divided into different districts: Fashion, Casual Fashion, Contemporary and Lifestyle. The retailers and restaurateurs will be clustered in areas of the street based on style, ranging from upscale to bohemian.

"Our goal is to attract the best retailers and chef-driven restaurants to downtown Savannah," said Ben Carter, founder of Ben Carter Enterprises. "The area has deep history and inherent charm already, and we look forward to bringing the street back to its former glory and vitality. We will give both residents and tourists a new reason to come downtown, by making Broughton Street a place with beautiful streetscapes where you can visit, stroll, shop, dine and just be."

Karen Guinn, a key member of the Carter team, said, "We are not building a project that will have one grand opening, but rather renovating a district, so the progress and the milestones will be rolling, with a steady stream of openings between now and March 2015."

Carter's investment to the restoration of Broughton Street is unprecedented. "What Ben Carter is doing in Savannah is a huge undertaking and shows he has made a commitment that previous Broughton Street landlords have been unwilling or unable to do," Guinn said. "Ben could have acquired the properties and filled them with tenants without upgrading the properties. But that's not the way he works. He cares about improving the communities where he does business. Also, he recently moved into an apartment right on Broughton."

Plans at the Broughton Street district continue to crystalize. Along the street, several dumpsters are located outside buildings that are being cleaned out, renovated and restored. As part of Carter's $75 million project, a substantial portion is dedicated to ensure buildings are returned to a structurally sound state and made up-to-date with life-and-fire-safety regulations. The team is cleaning out several buildings that have not been occupied in 50 years and has found artifacts that exhibit the important role the properties play in Savannah's history.

"In 25 E. Broughton St., we found a 1940s Certificate of Appreciation to the President of the Lion's Club," Guinn said.

As part of the jurisdiction review, Carter currently has buildings under review for internal renovations, façade renovation and façade replacement. Carter also has filed an appeal of the denial of his application to demolish the building at 240 W. Broughton so he can develop a four-story retail and residential building reminiscent of the old Chatham Furniture Building that stood on the site before a fire destroyed it. This building is the only one Carter would like to demolish. All others will be restored.

Carter's team has a signed letter of intent and is in lease negotiation with an international retailer that provides high-fashion apparel at affordable prices. The retailer requires 30,000 square feet and will occupy the basement and additional three floors. The demo request is being made to provide the retailer with a consistent, architecturally attractive store.

Carter said, "The retailer we are working with is at the top of the list for an anchor department store in urban areas around the world. They have prominent locations in D.C., New York, London and now they want to be here, in Savannah- that speaks volumes for this City and for Broughton Street.

"Historically Broughton Street has housed famous department stores such as Sears, J.C. Penny and Belk. It is my sincere hope that the people of Savannah will understand how important a retail anchor like this is to urban revitalization."

The team also announced J. Crew, L'Occitane and The Ancient Olive will open their first Savannah store in Carter properties on historic Broughton Street. The addition of the three new retailers is part of Carter's vision for his firm's Broughton Street project, a redevelopment of the historic, urban, walkable street in the heart of Savannah.

The Broughton portfolio consists of 200,000 square feet of retail and restaurant spaces along Broughton Street between Jefferson and Drayton streets. Ben Carter Enterprises also plans to turn the upper floors of the recently acquired street spaces into approximately 100 urban-style loft apartments, offices and creative spaces for students and young professionals.

About Ben Carter Enterprises, a client of The Wilbert Group

Ben Carter Enterprises is a full-service, commercial real estate firm that specializes in retail and mixed-use projects throughout the Southeast. The premier properties and outlets firm is currently underway on the development of the Outlet Mall of Savannah, a $200 million project; the "Broughton Street" Project portfolio, a $75 million project; and the Outlet Mall of Augusta. The firm has developed $3 billion in retail and mix-use properties in the Southeast comprising of over 4 million square feet. The company's most notable projects include the St. John's Town Center, an upscale retail and mixed-use community in Jacksonville, Fla., and the Mall of Georgia in Buford, Ga., one of the first mall properties to incorporate an outdoor village featuring retail and restaurants surrounding a green space and entertainment area. For more information about Ben Carter Enterprises, please contact (404) 869-7100 or visit www.bencarterenterprises.com.

CONTACT: For more information, contact:
         Tony Wilbert
         The Wilbert Group
         404-254-1487 (O) 404-405-3656 (C)
         twilbert@thewilbertgroup.com

Ga. Economic Development Communications Chief Headed to Community Affairs

ATLANTA (Oct. 3, 2013) - The Georgia Department of Economic Development is seeking a new director of communications. 

Alison Tyrer, the current  director of communications, let colleagues know today that she'll move to the Georgia Department of Community Affairs next month. She'll head marketing and communications in a new position at DCA.

The move makes sense, given that Alison worked closely with Gretchen Corbin, the new commissioner of Community Affairs, while Corbin served as deputy commissioner of Economic Development.

Tyrer's soon-to-be-old job at Economic Development hasn't been posted yet, but it will be soon. Whomever is hired will work with Dalton Agency, which won the business to provide PR and communictions support this suumer. (The Wilbert Group competed for the work as well.)

Here's the message Tyrer sent late this afternoon:

 

Greetings! I just wanted to drop you a brief note to let you know that after almost nine years, I will be moving on from my present position at the Georgia Department of Economic Development to a new post leading marketing and communications at the Georgia Department of Community Affairs. I’m very excited about this new opportunity and about joining the great team at DCA, and I am looking forward to working again with Gretchen Corbin, former deputy commissioner at GDEcD who is now Commissioner at DCA.

 

Moves are always bittersweet, and my sadness at not working on a daily basis with people who I have grown to consider my friends is tempered by the knowledge that I will be able to continue to interact with you, just in a different capacity, as we tighten the economic development connections and teamwork between GDEcD and DCA. 

 

I’ll remain at this department until Oct. 31 and will begin my new position Nov. 1. I hope and expect that I will be talking to most, if not all, of you before then, and hopefully after that as well. Thank you for all your support over the years and I look forward to staying in touch in the future!

Best,

Alison

 

P.S. If you know of someone who might be interested in and qualified for this position, so please feel free to make suggestions, or have resumes sent to Greg Torre at GTorre@georgia.org or Robert Payne at rpayne@georgia.org. I’ll try to let you know when the position has been posted.

 

Invest Atlanta to hold Developers' Day April 17

Learn about Invest Atlanta's programs and initiatives at Developers' Day. The event will feature educational break-out sessions on the following:
Housing
Small Business Finance
Business Development
Redevelopment

Click on the Invest Atlanta logo to register.

Atlanta Mayor Signs Off on Funding for Critical Real Estate Project

Invest Atlanta Board Approves Funding for New Multi-Purpose Stadium

NFL’s Atlanta Falcons Will Begin Play at New Facility in 2017

(Note: The Wilbert Group issued the following release on behalf of client Invest Atlanta)

ATLANTA (April 4, 2013) – Invest Atlanta’s board of directors today approved two resolutions to help fund a new multi-purpose stadium and spur economic development in the neighborhoods surrounding it.

The board approved a bond inducement of $200 million, to be paid with revenue from the city’s hotel-motel tax, to help fund the $1 billion retractable-roof stadium. The hotel-motel tax revenue is the only public funding source for the stadium, which is planned to be built adjacent to the Georgia Dome. The remaining cost of the construction of the new stadium, including any cost overruns, will come from the Falcons and other private funds.
Invest Atlanta’s board also approved the allotment of $15 million in Westside Tax Allocation Funds for economic development projects that leverage private sector investment in English Avenue, Vine City and Castleberry Hill neighborhoods that surround the site of the new stadium.
“We are going to build a new best-in-class facility that will help us attract new events and keep the Atlanta Falcons downtown for the next 30 years,” said Atlanta Mayor Kasim Reed, who is also Chairman of the Invest Atlanta Board of Directors. “I am pleased that the Invest Atlanta board approved the bond resolution for a new stadium by 8-1, following a very strong 11-4 vote of confidence in this project by the Atlanta City Council in March. The new stadium will be a key anchor for the city's $10 billion annual tourism and convention business, and I look forward to the economic development activities that will occur in the nearby historic Vine City, English Avenue and Castleberry Hill neighborhoods as a result of this transaction."
The Invest Atlanta votes mark the final steps in lining up financing for the new stadium, which will be home to the Falcons for at least 30 years after it opens for the 2017 NFL season.

“We thank Invest Atlanta and its board of directors for their vote of support today. We are grateful for their thoughtful consideration, not only of the agreements they are party to, but of the overall new stadium project,” Atlanta Falcons Owner & Chairman Arthur M. Blank said in a statement issued following the meeting. “The approval of this project is the result of strong collaboration between a number of significant contributors: the Mayor’s office, Atlanta City Council, Invest Atlanta, the Governor’s office, the Georgia World Congress Center and the Atlanta Falcons.

“We believe the final agreements put in place over the last several weeks represent a solution that serves the best interests of all involved, including the neighborhoods surrounding the new stadium.”

The stadium will spur redevelopment in adjacent neighborhoods and help the city’s economic development effort that results in the creation of new jobs, Invest Atlanta President and CEO Brian P. McGowan said.

“Invest Atlanta is proud to have played a key role in the funding of the new stadium,” McGowan said. “A world-class city such as Atlanta needs world-class amenities, and the new stadium will be just that.”

In addition to the $15 million in TAD funding to revitalize neighborhoods surrounding the new stadium, The Arthur M. Blank Family Foundation also will contribute $15 million toward community enhancements.


###

About Invest Atlanta

Invest Atlanta is the official economic development authority for the City of Atlanta. Its purpose is to strengthen Atlanta’s economy and global competitiveness in order to create increased opportunity and prosperity for the people of Atlanta.

Chaired by the Mayor of Atlanta, and governed by a nine-member board of directors, Invest Atlanta’s programs and initiatives focus on developing and fostering public/private partnerships to create jobs, grow the economy, revitalize neighborhoods, attract investment, spur innovation, and encourage entrepreneurship. To achieve these goals, Invest Atlanta leverages the benefits of bond financing, revolving loan funds, housing financing, tax increment financing (TIF), and tax credits.

For more information on how Invest Atlanta can provide solutions for you or your business, contact us at: 404-880-4100, e-mail: wcronin@investatlanta.com or visit us at: www.InvestAtlanta.com. To get the latest updates, follow us on Twitter @InvestAtlanta, and Like us on Facebook www.facebook.com/investatlanta.



For More Information, Contact:
Tony Wilbert
Wilbert News Strategies
404-965-5022 (O)
404-405-3656 (C)
twilbert@wnspr.com