Winter Construction leaving 50-story downtown tower for Chamblee

Winter Construction is leaving a 50-story downtown tower for creative office space in Chamblee.   The nearly 60-year-old Atlanta company is relocating from 191 Peachtree to a small warehouse at 5616 Peachtree Road that is being renovated in downtown Chamblee.   The Chamblee building will be converted into loft office space. Winter will serve as general contractor for the project. It plans to move into the building by February.   “It’s the latest example of a company moving out of a class A space because they wanted a different kind of environment,” said Kirk Demetrops, president and founder of Atlanta-based MidCity Real Estate Partners.   Winter’s decision comes a few months after consulting giant McKinsey & Co. said it was relocating from downtown to a $200 million project on the Atlanta Beltline’s Eastside Trail. Other companies have also moved from traditional office towers in parts of the city such as Buckhead.   A joint venture between MidCity and Anchor Capital Partners acquired the 42,500-square-foot building, which is in a part of Chamblee transforming into a walkable area filled with restaurants and connected by a trail system. The joint venture paid almost $3.5 million for the property.   Plans call for renovating the industrial building into a 36,500-square-foot creative office project.   Chamblee is in the midst of a renaissance because it has embraced the development of apartments in vibrant mixed-use projects, Demetrops said. Many of the city’s older industrial buildings are being retrofitted, and they are attracting both companies and new restaurants to fill that space.   Chamblee is also benefitting from the ongoing redevelopment of the former giant General Motors plant. The planned $2 billion Assembly Yards project is just north of where MidCity and Anchor are renovating their building.   Cushman and Wakefield was the broker in the relocation of Winter to Chamblee. Patterson Real Estate Advisory Group arranged the construction loan and JV equity financing. First Citizens Bank is providing the construction loan.   This article was first published in the Atlanta Business Chronical on August 19th, 2019 by Douglas Sams. To read the original publication click...

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MidCity Real Estate Partners Nominated for Award from Urban Land Institute

MidCity Real Estate Partners is nominated by the Urban Land Institute as a finalist for the award of “Excellence in Town Center Development” for our work on the Alpharetta City Center. Learn more about the project here.

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Kirk Demetrops brought Main Street to the suburbs

Like many cities, Alpharetta had to adapt.   For decades, the expansion of regional shopping centers stole the vibrancy of its main street. Merchants struggled to thrive, as downtowns became a pass-through on the way to the stores and restaurants at suburban regional malls.   Today, it’s a much different story.   In the age of Amazon, what once involved driving to your favorite store to shop now takes just a moment on your smart phone or laptop. For Atlanta’s largest owners of retail space such as DDR Corp. and Simon Property Group, it’s been a challenge to keep their projects relevant.   For cities such as Alpharetta, it’s created an opportunity for rebirth. People want to spend time again in once forgotten downtowns. Some visit new restaurants popping up on town squares.   Others take advantage of new greenways and open spaces.   A little over four years ago, Kirk Demetrops, founder of Atlanta MidCity Real Estate Partners, pursued a new project called Alpharetta City Center. Demetrops assembled a development team that included South City Partners, Morris & Fellows and Hedgewood Homes.   Today, the project includes 75,000 square feet of restaurant and retail space, 36,000 square feet of office, 168 apartments and 42 single family homes — a “mini-town” that brought Main Street back to life.   “Demand has been phenomenal,” Demetrops said. “Alpharetta, deservedly so, set a high bar for us. “The partners I brought in really delivered spectacular product. Most of the project is 100-percent leased or owned, including a corporate headquarters and eclectic group of retailers and restauranteurs.”   MidCity, which has developed more traditional office projects along Georgia 400, continues to look for more opportunities for downtown redevelopments. Demetrops joins a number of developers, architects and urban designers that are bringing new, walkable projects to the region.   What led you to your career?  I started my real estate career one month after graduating from undergrad, celebrating 30 years in the business earlier this year. Initially, I thought the industry was compelling by combining business/finance to a hard asset. As my career transitioned to development 20 years ago, I really found that I could use my “visual” strength as person to lead the creation and execution of a development/redevelopment. Who has been your greatest influence in your career or job? In 2000, Joel Griffin met with me (and my partner at the time) and offered to buy our company, Forum Realty. Forum was early in Atlanta, with the idea of redevelopment and going back in town to look at opportunities. Joel gave us the backing and infrastructure, and let us go to work. We did interesting deals all over, from Grant Park to Alpharetta. Joel had many tremendous qualities, but I mostly remember his positive attitude, which was infectious. What has been your biggest challenge? The development business is cyclical, and the Great Recession certainly emphasized that reality. However, I think our biggest challenge is time. The deals we are pursuing are complicated, with many moving parts and partners. Many take two to four years to put together. This adds a significant level of additional risk. What has been your most rewarding moment in your career? As a developer, we get to see our end product and can look back at the steps taken to get there. I really like figuring out the form and function of a development, the right mix. I consider MidCity a “custom” developer that brings a unique solution to the development/redevelopment of a property. In the 1990s, so much development in North Fulton was clustered along Georgia 400. How does the city-center trend in Alpharetta, Duluth, Suwanee, etc. underscore important changes in suburban Atlanta land use patterns? I think everyone wants...

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Alpharetta City Center Wins Development Of Excellence Award

Alpharetta City Center, the public-private partnership redevelopment in the city’s core, was honored Friday with a 2018 Development of Excellence Award by the Atlanta Regional Commission.   The project won the award in the category of Exceptional Merit for Context-Sensitive Town Center Development. The awards, given during the agency’s State of the Region Breakfast held Nov. 2, recognize the developments and places that are improving quality of life in the 10-county Atlanta region.   Alpharetta City Center’s walkable 26 acres are home to Alpharetta City Hall, a Fulton County Library branch, as well as restaurants, retail, offices, luxury apartments, single-family houses, and 2.5 acres of green space. The project is a result of a public-private partnership whose groundwork was laid 15 years ago when the city first set forth its goals to build a true downtown through its LCI program. In the years since, it has worked steadily to create City Center from mostly underutilized commercial spaces around the intersection of North Main Street and Academy Street.   The transformation is dramatic, as the project has replaced an assortment of empty lots and underused buildings with a unified building design that blends seamlessly with the surrounding historic downtown, including a network of bike-ped paths that connect housing to schools, retail, and other amenities. The development is designed around five major green spaces. At its center, the Town Green connects the new City Hall to the restaurants and shops of Main Street.   City Center has attracted a great deal of development, including chef-driven restaurants and residential, retail, and offices — including DataScan, whose headquarters now fill a 26,000 square-foot building.   The development has important green touches, too. Pervious surfaces — which help reduce storm-water runoff — make up more than 10 of its 26 acres. This was accomplished by replacing old streets and parking lots with greenspaces that house freestanding buildings. In addition, pervious materials were installed wherever possible to mitigate storm-water, and an underground system filters storm-water runoff before it reaches the property’s detention pond.   The top award, the 2018 Development of Excellence, went to La France Walk, a residential community in Atlanta’s Edgewood neighborhood that features varied housing options and price points to encourage greater diversity and walkability.   ARC also presented its Great Places Award to The Aerotropolis Area, a dynamic part of the Atlanta region that includes communities around Hartsfield-Jackson Atlanta International Airport.   Other awards recognized: the city of Chamblee and Mercy Park senior housing and healthcare facility, and Constellations, a lovingly restored workspace in downtown Atlanta that honors the building’s history and the civil rights legacy of the neighborhood.   This article was first published by Patch on November 2nd, 2018 and was written by Kristal Dixon. To see the article as it was first published, click...

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ARC’s Developments of Excellence Awards Recognize Community-Enhancing Places

Alpharetta City Center is the beating heart of downtown Alpharetta. Its walkable 26 acres are home to Alpharetta City Hall, a Fulton County Library branch, as well as restaurants, retail, offices, luxury apartments, single-family houses, and 2.5 acres of green space.   The project is a result of a public-private partnership whose groundwork was laid 15 years ago when the city of Alpharetta first set forth its goals to build a true downtown through its LCI program. In the years since, it has worked steadily to create City Center from mostly underutilized commercial spaces around the intersection of N. Main Street and Academy Street.   The transformation is dramatic. The City Center has replaced an assortment of empty lots and underused buildings with a unified building design that blends seamlessly with the surrounding historic downtown, including a network of bike-ped paths that connect housing to schools, retail, and other amenities. The development is designed around five major green spaces.  At its center, the Town Green connects the new City Hall to the restaurants and shops of Main Street.   City Center has attracted a great deal of development, such as chef-driven restaurants and residential, retail, and offices — including DataScan, whose headquarters now fill 36,000 of a 45,000 square-foot building.   The development has important green touches, too. Pervious surfaces — which help reduce storm-water runoff — make up more than 10 of its 26 acres. This was accomplished by replacing old streets and parking lots with green spaces that house freestanding buildings. In addition, pervious materials were installed wherever possible to mitigate storm-water, and an underground system filters storm-water runoff before it reaches the property’s detention pond.   This article was first published by the Atlanta Regional Commission on November 2nd, 2018. To read the original posting of this article, click...

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Developer proposes swapping hotel for office building in Sandy Springs, Ga.

A developer wants to change a 14-year-old plan for a project in Sandy Springs to swap a hotel for one of two office buildings.   MidCity Real Estate Partners sees demand for an additional hotel due to the Mercedes-Benz USA headquarters and the City Springs mixed-use development nearby the 3.7-acre NorthPlace site at Barfield Road and Mount Vernon Highway, according to a Reporter Newspapers story.   Fulton County approved the original designs for NorthPlace in 2004 before Sandy Springs incorporated. MidCity Real Estate Partners is seeking to have Sandy Springs approve a hotel in place of one of the office buildings, with construction to start next year.   The building site at 6403 Barfield Road is west of Ga. 400 and is adjacent to the Promenade at Northplace condo development. It is located at 6403 Barfield Road.   The original plan was for two multistory office buildings with ground-floor retail. Under the new proposal, one of those buildings would become a 7-story Aloft hotel, a brand owned by hotel chain Marriott.   The footprint is identical, and the only change is the use of one of the buildings, said MidCity executive Kirk Demetrops. Read more here.   This story was originally published in the Atlanta Business Chronicle on October 3rd, 2018 and is written by Jessica Saunders. To read the original post, click...

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