A Ripple Effect in Atlanta
A Ripple Effect in Atlanta The Atlanta, Georgia real estate market is booming in both the commercial and residential sectors, and local MidCity Real Estate Partners has its hand in developing the flourishing metro area. The master developer recently completed two projects – 5616 Peachtree Road and Alpharetta City Center – with its newest development, The Grove at Town Center in Snellville, scheduled to break ground in the fall of 2020. 5616 Peachtree Road, an office building northeast of Atlanta, opened in February 2020. The first of 10 new buildings at Alpharetta City Center (the corporate Headquarters of DataScan Holdings) were completed in 2018. MidCity is thrilled for the opportunity to contribute in-demand commercial and residential real estate to the area and has had the foresight to develop in the burgeoning Atlanta suburbs of Chamblee, Alpharetta and Snellville. As its commercial and mixed-use building open, the firm anticipates a response of more growth in the metro area. “These developments really cause a ripple effect,” says Kirk Demetrops, Principal, President and Founder of MidCity. “And, these walkable town centers in suburban locations may be in further demand post-COVID-19 Filling A Void 5616 Peachtree Road is a redeveloped 40,000 square-foot industrial structure previously owned by a perfume manufacturer. MidCity acquired the vacant property and developed it into an urban-style, open-layout office building with ample windows and parking. The site is in a walkable area near public transportation and restaurants with a direct connection to the Rail Trail (pedestrian/bike path) serving Chamblee. Many companies are choosing to move their headquarters to the area to cater to the needs and desires of young professionals. “[These companies] are going to areas not traditionally sought after, but this where their employees, many of them millennials, want to be – [places] that offer loft-style building, public transportation, walkability, a sense of place and other drivers,” says Demetrops. MidCity’s Alpharetta City Center project is an award-winning, mixed-use “town center” development that expands Alpharetta’s downtown area adjacent to City Hall and the county library. The $100 million project consists of 75,000 square feet of retail and dining, 36,000 square feet of Class A office space, 168 luxury apartments and 42 single-family homes. Demetrops says that one of MidCity’s most notable core competencies is its thorough understanding of the development process from inception to completion. Together, Demetrops and his business partner, Executive Vice President Roger White, determine the most valuable use of a given property for all parties involved, then implement the concept into panning, underwriting, zoning, design and budgeting. The firm maintains strong relationships with its architects, contractors and subcontractors, which helps the developer deliver the highest quality products. One of its long-time partners is Atlanta-based Fowler Design Associates, which worked on 5616 Peachtree Road. That being said, to align with the unique vision of a project, MidCity typically assembles a different team for each development. In some instances, such as a city center, the firm selects multiple architects. “We don’t want the building to look the same,” says Demetrops. “We want to have an architect or even several architects make it look like it was a lot of different people who built this town center over time.” In addition to architects, MidCity selects its residential, retail and housing partners based on the distinct needs of a mixed-use project. For the Alpharetta City Center development, the real estate firm partnered with South City Partners, Morris & Fellows and Hedgewood Homes. New Town Center MidCity’s upcoming project, The Grove at Town Center, is an 18-acre multi-use project spearheaded by the City of Snellville, which wanted to build a town...
read moreSnellville approves zoning for Towne Center project
“The Snellville City Council recently voted to approve the zoning needed to move forward with The Grove at Towne Center. Construction is anticipated to begin this summer on the 18-acre project with the Town Center opening late in 2021 or early 2022. ‘We look forward to the new community gathering space, beautiful new Gwinnett County Library and educational/business space and The Mercantile,’ said Snellville Mayor, Barbara Bender. ‘This new town center will create a sense of place we have been missing.’ The Grove will offer shopping, dining, recreation, office space, upscale residential housing, a new Gwinnett County Library, a specialty market/event building, and common areas. ‘All the pieces are coming together on a tremendous public-private development to create a well-deserved town center for Snellville,’ said Kirk Demetrops, President of MidCity. Information: www.snellville.org/the-grove-at-towne-center. This article was first published in the AJC on 01/29/2020 and was written by Karen Huppertz. Read the original...
read moreSnellville picks MidCity as developer for $85 million Towne Center project
Snellville is partnering with two developers on an $85 million first phase of its new town center, the latest suburban Atlanta city embracing the chance to create a vibrant downtown. The Grove at Towne Center will be led by a joint venture of Casto, a more than 90-year-old real estate company based in Columbus, Ohio, and MidCity Real Estate Partners, an Atlanta firm that brought walkable, mixed-use development to downtown Alpharetta. The first phase is set to begin in 2020, depending on the development team’s ability to secure construction financing in coming months. It will include 250 apartments and over 50,000 square feet of retail, restaurant, office and entertainment space. Paths for pedestrians and cyclists will also connect to the Snellville Greenway. The Market Center will anchor the project. Early ideas for the building include a brew pub and upscale event space. The Commons area will also allow the city to create a public gathering space for festivals and other events. The Grove at Towne Center is a microcosm of widespread downtown revitalization underway across the country, with local examples in Alpharetta, Duluth, Suwanee, Lawrenceville and other cities. As more people return to downtowns, it’s also a reminder of how many regional power retail centers and malls that flourished in the 80s and 90s are under pressure to stay relevant with consumers. “Historically, in areas of the Northeast, the Midwest and Europe, the town center was everything,” said Kirk Demetrops, president of MidCity. “There was a 20-year trend where land was cheap, and the power centers and the malls were in vogue. There’s still room for those. But, the town center is coming back as a place that brings people together.” “We’ve been working on this for a year,” Demetrops said. “It’s a really good match for us.” This article first appeared in the Atlanta Business Chronicle on August 27th, 2019 by Douglas Sams. To see the original article, click...
read moreSnellville signs on to $85 million development with 250 apartments
Snellville leaders signed an agreement Monday to build an $85 million mixed use development as part of the Towne Center project. The Gwinnett city is entering a public-private partnership with commercial real estate company Casto and developer MidCity Real Estate Partners. The project is intended to be just the first phase of a greater development called The Grove at Towne Center. Towne Center is a separate city project intended to create a walkable space in Snellville’s center where people can live, work and enjoy recreational activities. Snellville and Gwinnett County will contribute a combined $30 million to the Grove project, city spokesman Brian Arrington said. That will cover a market building, a parking deck, a county library, work on roads and stormwater systems, and upgrades for walkability and a greenway. The Grove will include both public and private buildings, according to the city. Among them will be a new post office; the U.S. Postal Service agreed in July to move the Snellville post office from its current location on Oak Road to a city-owned former bank branch. The current post office is on land that will become the Towne Center Greenway. Plans for The Grove also include space for a library and a town green. The private buildings include space for 250 apartments and more than 50,000 square feet of commercial space that could be used for shops, restaurants or office space, according to plans released by the city. There will also be a facility called the Market Center, intended to be the project’s “anchor,” according to a city release. What will go inside has not been decided, but one suggested use for the two-story building is having a brewpub on the first floor and an event space on the second, Arrington said. Towne Center has been in the works for years, with pieces incrementally being approved by the Snellville City Council. In addition to The Grove, the city has OK’d plans for a network of walking and biking trails that will make up the Towne Center Greenway and an 88-unit senior living center that will be close to the project’s core. This article was first published in the Gwinnett County section of the The Atlatna Journal-Constitution on April 28th, 2019 and is written by Amanda C. Coyne. To read the original publication, click...
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