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Mark Teixeira Latest Ex-Brave to Take Swing at Development

Former MLB All-Star Teams with Urban Creek on $400 Million TOD
March 2, 2018
Former Major League Baseball All-Star Mark Teixeira is back in Atlanta, working with Urban Creek Partners to create a mixed-use development adjacent to the Bankhead MARTA Station.

The partnership this week released plans for the $400 million first phase of Quarry Yards, a transit-oriented development 1.5 miles from Georgia Tech, where Teixeira played college ball. He played for the Braves in 2007 and 2008 before signing with the Yankees, where he finished his career playing eight seasons.

Teixeira says he and Urban Creek are committed to the development and plan to see it through to fruition. "Urban Creek Partners has been in this community for the past 10 years, listening and learning about what our neighbors want in this development," he said. "Our plan is to continue to be here for the long haul and create an economic driver that will lift the area - one which has been overlooked far too long."

Teixeira and Bowman started planning to revitalize the area in 2008, and they formed the Emerald Corridor Foundation to restore Proctor Creek and raise funds to start and complete the Proctor Creek Greenway. Construction started last summer on the first phase of the greenway that comprises two miles of trails that connect the Bankhead MARTA Station to the River Park Trail and travel through Westside Quarry Park, scheduled to open in 2019.

Quarry Yards is a 70-acre master-planned community in Atlanta's Grove Park neighborhood on Donald Lee Hollowell Parkway, which used to be named Bankhead Highway. Phase I is entitled for 575,000 square feet of Class A office, 850 residential units, a 300-key hotel and 75,000 square feet of retail and restaurants.

On the multifamily front, Urban Creek, headed by veteran developer Jimmy V. Barry and Joel Bowman, is in discussions with Pollack Shores to form a joint venture to develop the multifamily component at Quarry Yards.

Teixeira is the latest ex-Braves player or manager to get into real estate development. His predecessors have had hits and misses in the commercial real estate world.

Bobby Cox, the only Braves manager to lead the team to a World Series championship, is part of a group developing the successful LakePoint Sporting Community in Emerson, GA, about 25 miles northwest of SunTrust Park. Another former Braves manager, Fredi Gonzalez, also is part of the team developing the 1,400-acre sports-centric mixed-use project.

Former Braves outfielder Brian Jordan didn't fare as well in the development field. An All-Star in 1999, Jordan's BOJ, LLC teamed with experienced developer Stephen Macauley in 2006 on Le Jardin, an ambitious luxury residential development in South Fulton.

Jordan would strike out big as the Great Recession started in December 2007. By August 2008, Le Jardin, LLC, BOJ Reserve Investments and Macauley all had filed for bankruptcy protection.

Teixeira's timing should be better. While Atlanta's westside has seen a boom in construction of multifamily and cool loft offices, the northwest corridor has been passed over. Increasingly, younger residents are considering the area as they are priced out of West Midtown.

Urban Creek principal Barry, a former executive at his dad's Barry Real Estate firm and at Carter, says Quarry Yards will be attainable for people at several income levels.

"We are approaching this development with a careful eye toward creating a lifestyle that is sustainable, accessible and affordable," Barry said. "The office buildings will be designed to LEED standards, and we intend to incorporate water reclamation and solar features throughout the site. Our multifamily units will include affordable options, and our retail will provide opportunities for the neighborhood to innovate and create."

Moreover, Bowman added, "Quarry Yards will turn an area that has been inactive for many years into a thriving community that creates jobs, offers unprecedented connections to nature and provides a range of new experiences for current and future residents, office tenants and visitors to the area."

The Quarry Yards team also includes HKS Architects and Populous. Brasfield & Gorrie is the general contractor, B+C Studio the landscape architect and Kimley-Horn the project engineer. CBRE landlord reps Bryan Heller and Peter McGuone are the lead brokers at the project.

Teixeira's team expects to start construction on the 27-acre Phase I by year-end.

Tony Wilbert, Atlanta Market Reporter  CoStar Group   

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