Sobu Homeowners,
We are putting a sign up in the next few days that has been orders at Fast Signs. Upon approval from our company the sign will be standing tall in front of the building.
There will be a upcoming article in the Atlanta Business Chronicle who is drooling to get the story on the Assemblage, and the opportunities that this parcel of property (sobu) will open for the Buckhead village. Exposure in the Atlanta Business Chronicle will help bring local ,and international interest of other potential buyers. Thanks to all the homeowners that have sent contacts our direction who might have interested parties to purchase SOBU, we do need any, and all efforts from everyone to have this be a successful project. One local group that had interest had given a low verbal offer that will never be able to work. The explanation for the low offer being in this current market the investors the interested groups have backing the projects do not want to invest into the residential market at this time for the asking price of the property. The view point of the buyer / developers at this time is if the Buckhead Village is so hot why has Paces 325 not sold out? Why does Ben Carters retail space not have tenants standing in line to rent out spaces? With the current market conditions it is extremely hard for builders / developers to get funds needed for projects, especially being in the residential condo market.
On the flip side, Foreign investors are viewing it as a great opportunity to buy, and invest with the U. S. dollar being weak. To a European investor buying ,or investing in U.S. property is like buying the property for huge discounted rate. This is why it is taking a little longer for the local developers to pull the trigger, and make moves on properties due to building relationships, and in search to find European Equity partners to invest in this type of project such as SOBU, or until the market corrects itself.
The asking price of the SOBU property is in line with other properties in the area that are being marketed . We have had meeting with the assemblage team at Paces Green, and are working together to broaden our opportunities with a larger parcel.
I want to thank everyone for the time and energy that has been put behind the assemblage.
http://www.buckhead.net/villagevision/
Joshua A. Reeves
2345 Peachtree Rd
Atlanta, GA 30305
Cell : 404-547-3622
Fax : 404--604-3801
Sobu Flats Assemblage has moved to www.sobuflats.info
Please visit www.sobuflats.info
5 comments:
Perhaps this will help our situation
FYI: Library Saved
From the AJC:
http://www.ajc.com/search/content/metro/atlanta/stories/2008/03/19/fulton_0320.html
Pitts abstained after making an impassioned plea to his colleagues to delay the vote until April. He wanted more time to research whether Fulton should accept an offer from developer Ben Carter to buy the Buckhead branch, demolish it and include the property in his redevelopment plan for the Buckhead Village.
The board's vote essentially rejected Carter's plan because his offer was not part of the plan approved Wednesday. The unique branch's contemporary design has divided opinions since it opened nearly 20 years ago.
On Wednesday, several supporters of the design pushed commissioners to spare the building.
Everbody hold out hope via:
Atlanta Business Chronicle - May 25, 2007
by Lisa R. Schoolcraft Staff writer
...[Ben] Carter has paid top dollar for some of the parcels he's acquired, including nearly $700 per square foot for five small parcels on East Paces Ferry Road in February, according to research by Alan Wexler, president of Databank Inc. Carter's development company paid $10.5 million for 0.34 acres sold by Gary Pollack and George Rohrig, Databank's research showed.
He's also paid nearly $500 per square foot for the HiFi Buys site, but most of the parcels sold have been in the $300- to $400-per-square foot range.
Loudermilk, too, had been assembling land in the Buckhead Village with an eye toward redevelopment. He has a few acres around East Paces Ferry Road and about 3.5 acres near Pharr Road and North Fulton Avenue.
Has there been any progress on the sign or article in the Atlanta Business Chronicle? Thanks for the update.
R
Any update??? No update???
Signage?? Selling??
It's hard to wait months with no word....
:) :) It's like living on eggshells now @ the condo...anyone else feel like everytime you see someone you want to ask if they've heard anything.... :):)
I'm taking it there is no sign being put out in front of the building due to the blog states a few days and it has been almost 3 weeks. If your intentions are to get peoples hopes up...you doing a great job. Do we have 100%?? I have heard otherwise and am a bit concerned that this is the reason why there is no sign. I will look forward to seeing an update soon.
R
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