Riverwalk Atlanta mixed-use (Cobb County - Cumberland) moving forward, without the office (Marietta: 2013)

[netdragon]

There are many "Riverwalks" so I'm talking about the development by former Post Properties chairman John Williams in Cumberland (now owns Preferred Apartment Communities) at the corner of Cumberland Blvd and Galleria Pkwy. You may recall the huge fiasco where the Cobb Chamber provided tax incentives to the former Post Apartments owner to build a 10-story office with apartments and mixed-use, and the schoolboard sued (as they should have) and the tax breaks were denied. Then the developer had a hissy fit and moved his office out of One Overton Park to just across the river. This is the latest: No mixed-use, just 322 high-end apartment and condo units and 12 3-story townhomes for $60 million cost.
The Marietta Daily Journal - Riverwalk development moving forward without office building

That's fine with me. Bringing people into Cumberland is the most important thing, to make it vibrant. Despite the lack of mixed-use, it is within short walking distance to shopping next door (where the AMC is and Main Event will be) and 2 mixed-use developments in almost neighboring parcels (Riverwood 200 with Walton Riverwood and Two Overton Park)

Regarding tax revenue generation, it will generate $4.9 million versus $3.5 million for the school system for the first ten years compared to the original plan, but then from that point on it will generate about $300,000 less per year.

There is still the 5-story office building going in across Cumberland Blvd, by Greenstone properties, known as Encore 2.0. It's basically the original 10-story building, just moved across Cumberland Blvd with 5 stories lopped off on the top. So overall the tax digest increases by more.

Here are some pre tax-abatement fiasco photos. I can't find the Cobb zoning filing online, so just imagine the office building moved across the street to the South, and there being townhomes in its place, or something like that. If anyone can find the zoning filing, please share.

[DawgPark]

Originally Posted by netdragon

There are many "Riverwalks" so I'm talking about the development by former Post Properties chairman John Williams in Cumberland (now owns Preferred Apartment Communities) at the corner of Cumberland Blvd and Galleria Pkwy. This is the latest: No mixed-use, just 322 high-end apartment and condo units and 12 3-story townhomes for $60 million cost.
The Marietta Daily Journal - Riverwalk development moving forward without office building

There is still the 5-story office building going in across Cumberland Blvd, by Greenstone properties, known as Encore 2.0. It's basically the original 10-story building, just moved across Cumberland Blvd with 5 stories lopped off on the top. So overall the tax digest increases by more.

Net, any idea when these 2 projects might get started? Haven't seen anything moving on either yet.

[DawgPark]

And while we're talking Cumberland new development, do you have any idea what is going in the old Men's Wearhouse site . . . at the corner of Cobb Pkwy and Akers Mill?

Odd looking metal frame they put up there. Very small in square footage, but almost looks like they're going up another floor with whatever they're building there.

[netdragon]

Originally Posted by DawgPark

Net, any idea when these 2 projects might get started? Haven't seen anything moving on either yet.

I think mid-August was the original goal, but probably later than that since according to Bob Ott in the article, the county staff is still waiting on final detailed plans like landscape plans (unless that's changed recently)

Originally Posted by DawgPark

And while we're talking Cumberland new development, do you have any idea what is going in the old Men's Wearhouse site . . .

It's going to be a bank. http://zoning.comdev.cobbcountyga.go...ss/ITEM_04.pdf

Interesting use of land that's worth about $3 million / acre. I hope it's one heck of a bank or something. I wish it were a couple restaurants with rooftop dining or something.

[DawgPark]

Originally Posted by netdragon

It's going to be a bank. http://zoning.comdev.cobbcountyga.go...ss/ITEM_04.pdf

Interesting use of land that's worth about $3 million / acre. I hope it's one heck of a bank or something. I wish it were a couple restaurants with rooftop dining or something.

Wow, I certainly wasn't expecting a bank on that prime lot. And not even your typical branch bank like Wells or BoA. What is JP Morgan Chase going to do at that location to justify, as you say, a $3 mil/acre corner lot?

[glovenyc]

Yesssssss!!!!! Finally a Chase in my hood. I hate that I either have to drive to a West Paces Ferry or Powers Ferry/Windy Hill for just a Chase ATM.

[netdragon]

New construction thread here: https://www.city-data.com/forum/atlan...alleria-2.html