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20 Years Later, Hines to Build at Atlantic Station

Houston Firm to Start T3, Armed With $84 Million in Bonds
February 28, 2018
In 1998, executives from Hines and Post Properties stood at the Atlantic Steel site and proudly announced they'd develop office and multifamily, respectively, at the landmark development.

By 2002, both had pulled out of the 138-acre brownfield development, then known as Atlantic Station.

Now, two decades later, Hines finally will develop an office building at Atlantic Station. And it's doing it with a key piece of financing from the Development Authority of Fulton County (DAFC).

Late last month, DAFC minutes show the Development Authority approved a resolution to issue $84 million in bonds for the development of T3 West Midtown, the proposed 230,000-square-foot office building to be developed by Hines and Invesco Real Estate on behalf of one of Invesco's institutional clients.

The seven-story building to rise at 383 17th St. will be constructed with heavy timber, have unique 30,000-square-foot floorplans and look similar to a converted industrial building. In other words, T3 will be designed to appeal to tech and creative companies.

In May 2017, Hines and Invesco announced plans for T3 and a second, larger office building called Atlantic Yards. Combined, the two buildings will comprise 700,000 square feet of "progressive office space," Hines said.

The office buildings will rise amid the massive Atlantic Station development anchored by a retail-centric Town Center. In October 2015, Hines and Morgan Stanley acquired the Town Center and adjacent development sites for approximately $200 million.

Hines' site for T3 is across one street from Publix and across another from the freestanding Target store at Atlantic Station.

The architect of record for T3 is DLR Group of Omaha, NE; Chicago-based Hartshorne Plunkard Architecture is the design architect.

"Midtown's progressive customers are anxious for fresh product that provides unique architecture with a balance of amenities and services connecting them to the 24-hour attributes of Atlanta's core," Hines Senior Managing Director John Heagy said last year.

Hines is expected to start construction this spring. To that end, AECOM, on Hines' behalf, has filed several permits, including one to prepare the infrastructure for the low-rise office building, with the city of Atlanta Office of Buildings.

Tony Wilbert, Atlanta Market Reporter  CoStar Group   
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