Room 4
7:30 PM
The DHA monthly meeting is the place to learn about proposed projects in Dunwoody, meet the involved parties in person, ask your questions, and develop an informed opinion before these requests go to City Council.
Discussion – Review of updated PCID Zoning Code rewrite— Steve Foote
Presentation – Transwestern development proposal for office tower at Perimeter Mall –Jessica Hill, Morris, Manning & Martin and Trent Germano, Transwestern Development Company
This last one will generate the most discussion, IMHO.
This is the group that wants to put up an office tower (with no tenants announced yet) in place of the MARTA parking structure across the street from State Farm and on the same corner as the new High Street development.
They also want a 95% tax abatement from Dunwoody.
I look forward to an explanation as to why they and their project deserve it.
Here's some info on the proposed project from the Atlanta Business Chronicle.
http://www.bizjournals.com/atlanta/print-edition/2016/05/27/the-story-behind-proposed-perimeter-mall-office.html
3 comments:
Per reporter D. Bagby/The Reporter: "“Nobody is dragging you in here kicking and screaming and you didn’t consider that cost and think, hey, those people who don’t get a 95 percent tax abatement might be a little pissed off by that?” said Ms. Duncan.
Not sure if that is an accurate quote, but it sounds like the good woman from Tilly Milly.
I am less concerned with how other developers 'feel' and far more concerned that our City doesn't give away ANY tax receipts for a project that is co-located to MARTA, in one of the hottest office markets in the Country.
If the project doesn't have an 'edge' based on its' stellar locus, than a few cents per square foot saved on rent is not going to attract a horde of new tenants. The Peachtree Summit deal is an example of what should NOT be done. All the same old players, playing the same old tune.
I fleshed out the context of those remarks a little more on Facebook.
BTW, I was referring not to other developers but to the homeowners in the room who would be laughed right out of City Hall if they made a similar request.
But yeah, you don't tie yourself in knots trying to obtain a slice of land, then decide that your project is too expensive so you need a tax break. That's just weird.
Reprinted from Reporter Newspaper's FB page:
A little more background on my comment to the TransWestern reps: The Atlanta Business Chronicle printed an article last week describing how TW has been fighting for *years* to obtain this parcel from General Growth Properties/Perimeter Mall. They wanted it really bad and jumped through hoops to make the purchase. It's not like Perimeter is a blighted area in need of redevelopment - it's some of the hottest commercial real estate in the SE. So they arrange the purchase, they bring in their architects, they line up the variances they want to complete the office tower and start renting (no, they do not have any tenants yet) and THEN - ONLY THEN - after all of this effort, they want a 10-year, 95% tax abatement because, according to the rep, they want Dunwoody to "encourage" them to complete the work.
They didn't need any encouragement to buy the land and plan the building, right down to pedestrian flyover bridges to the mall and the MARTA parking lot and station. They didn't need encouragement to haggle w/ GGP until they got the property. They didn't need encouragement to bring in architects to design a LEED-certified office building. No, they need encouragement only after the planning is done and taxes need to be paid. That doesn't pass my smell test. And thus, I said so, after pointing out that the tax abatement issue wasn't mentioned in the list of variances they were looking for.
I'm not against replacing parking lots with usable office space, retail, what have you. If it weren't for the tax abatement element, I wouldn't have had anything to say. Dunwoody is financially viable because the business community pays their corporate taxes. If you're going to make a request like that you'd better be an entity like State Farm establishing a major national hub or HQ that will provide jobs and revenue for generations and make the city's side of the alleged "win-win" more obvious.
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