Miscellaneous

CBL Sells 556000-SF Mall to Panattoni
GlobeSt. com

Panattoni Closes on Colorado Mall Deal
Commercial Property News

Georgia seeks partners to develop Resaca battlefield
Calhoun Times

Gulfstream opens new Savannah (GA) Service Center
Savannah Morning News

Peak 10 hiring in Atlanta as it prepares new data center
TechJournal South

The World's Largest Indoor Ski Resort coming to Dawsonville, GA?
WXIA-TV

Details on Aronov's deal in Hartselle AL: $10K down, 150-day free look plus 180-day contingency on $2.22MM purchase
Hartselle Enquirer

International trade growing trend in Alabama
Florence Times Daily

Record aircraft orders boost production, halt layoffs at Bombardier

According to Canadian Business, plane and train manufacturer Bombardier Inc. has benefited from the turnaround in the aerospace industry as record aircraft orders have pushed it to boost production and consider bringing back some of its laid-off employees.

Canadian Business

Scripps leases more space at new site in West Knoxville

According to the Knoxville News-Sentinel, Scripps Networks, which includes HGTV, Food Network and an increasing number of Web sites, has signed a lease for 30,000-square-feet of office space in West Knoxville. The report says that Scripps employs 900 in Knoxville, and hopes to have them all on one campus eventually. Scripps Networks operates HGTV, Food Network, DIY Network, Fine Living and Great American Country and their Internet counterparts.

Knoxville News-Sentinel

Knoxville Central Business Improvement District looks for grocer

According to a report in the Knoxville News-Sentinel, The Central Business Improvement District is listening to competing developers who each want financial assistance to launch a downtown grocery store. Nick DeVore, whose family operates Litton’s Market & Restaurant, a fixture in the Knox County restaurant scene located in Fountain City, said he's looking at a 3,600-square foot project in the first floor 418 South Gay Street. Jeffrey Nash is looking at an urban grocery at the corner of Summitt Hill Drive and Gay Street. Demand has apparently resulted from condominium development downtown.

Knoxville News-Sentinel
- CBID Money
- Grocery War
- Urban Grocery Idea

Miscellaneous

Ground broken in Atlanta for new Hotel Palomar
Hotel & Motel Management Magazine

Nissan Picks CBRE as Exclusive Real Estate Services Provider in US
Commercial Property

Nashville to get $40MM from feds for Riverfront Makeover
WKRN-TV

Maglev High-Speed Chattanooga-Nashville Rail Line Studied
The Chattanoogan

Random Headline of the day: Study Finds 54% of Accounting Students Cheat
WebCPA

SIM Center loss not the end of R&D for Starkville, Mississippi

Despite the fact that Chattanooga enticed, enticed the computer simulation leader to move from Sim Center to move from Starkville, Mississippi, to UTC, Starkville continues to build on its R&D strength's centered around Mississippi State University.

The Columbus (MS) Commercial Dispatch

Boeing to build part of shuttle rocket in Huntsville

According to the Houston Chronicle, NASA selected the Boeing Co. on Tuesday to build a final major component of a spacecraft designed to replace the aging space shuttle fleet and carry astronauts to the moon as well as the international space station. Boeing plans to carry out development near Huntsville and at NASA's Michoud Assembly Facility near New Orleans.

Houston Chronicle

Miscellaneous

St. Mary’s, Baptist to merge hospitals under one company
Knoxville News Sentinel

Tricycle To Present At Technology 2020 Conference
The Chattanoogan

Chattanooga Offers Incentives to Build in Community Renewal Areas
WDEF News 12

Tennessee, Georgia among top states for retirement

According to a report in the Dallas Business Journal, Georgia came in third with 16,000 new 65-plus residents and $400 million in additional income brought to the state, followed by North Carolina and Tennessee with a respective 14,000 and 11,000 new residents, and $348.6 million and $273.7 million in income. See Table below.
Dallas Business Journal

Rank	*	State	*	New Residents	*	Additional Income
1	*	Florida	*	68,000	*	$1,900MM
2	*	Texas	*	27,000	*	$732MM
3	*	Georgia	*	16,000	*	$400MM
4	*	North Carolina	*	14,000	*	$349MM
5	*	Tennessee	*	11,000	*	$274MM

Area Home sales YTD numbers decline from 2006 but still beat 2005

According to statistics available from the Chattanooga Association of Realtors, year-to-date sales of homes declined from 2006, a record-breaking year, but still beat 2005, the record year until 2006. Thus, despite the decline, 2007 is on track to be have the second highest unit volume in history. The 2007 median home price, year-to-date, is $140,000, up $2,500 from 2006 and up $10,000 from 2005. Owners are having to wait a little more than a week longer to get that increased price. The average "Days on Market" figure went up to 113, just 8 days over the 2006 number of 105, which was 7 days over the 2005 number of 98.

Opinion: The Parties agree that the market is leveling, and that means the market is softening some, but the local media hype every negative number possible in wannabe fashion to join their major market and national market counterparts in "us, too" reporting of gloom and doom. Better, balanced analysis of the numbers is possible. Local media should aspire to it.

Year - Volume through July - Median Price - Days on Market - Sale/List %
2005 4,440 $130,000 98 97.29%
2006 4,930 $137,250 105 97.38%
2007 4,535 $140,000 113 97.04%

Regal Cinema opening in Knoxville cut short by power-outage

According to a report by Hayes Hickman in the Knoxville News Sentinel, the new Regal Riviera Stadium 8 opened on Monday night on Knoxville's Gay Street to an invitation-only crowd of VIPs who were treated to a private reception and a black out. The $14.85 million multiplex marks the return of a movie theater to downtown Knoxville, and is expected to seed downtown development in a manner similar to what the Bijou did for downtown Chattanooga, but the inaugural screenings Monday night went dark due to a power outage, forcing guests to leave the long-awaited theater opening early. According to the report, the blackout struck less than 45 minutes into sneak-preview showings of “3:10 to Yuma” and “Balls of Fury,” as well as “The Nanny Diaries,” at around 7:15 p.m.

Knoxville News-Sentinel

Decatur (AL) development company to option acreage near I-65

According to a report by Deangelo McDaniel in the Decatur Daily News, a real estate developer has agreed to a $2.2 million option for city-owned property near Alabama 36 and Interstate 65. Aronov Realty, a Montgomery-based real estate development and management company, has not decided what it will put on the property, but Publix has anchored most of its developments. The contract is for 330 days.

The Decatur Daily News

Miscellaneous

Summer Tourism In Chattanooga Shatters Record
WDEF News 12

Construction begins on new skatepark for Knoxville
The Daily Beacon

Bradley Arant Rose and White is in discussions to merge with Nashville law firm Boult, Cummings, Conners and Berry
The Birmingham News

India's Wipro to Open Center in Atlanta
Forbes

Tech firm (Wipro) to bring 500 jobs to Atlanta
Atlanta Journal Constitution

California Pizza Kitchen to open first Nashville-area location in Green Hills

California Pizza Kitchen will open its first Nashville-area location in Green Hills Sept. 1. The restaurant chain is known for its innovative, hearth-baked pizzas and also offers made-to-order pasts, salads, appetizers, soups, sandwiches and desserts. The Green Hills location will seat 220 people and is located at 4031 Hillsboro Road in the Hill Center. The restaurant will offer a full bar and curbside service. Troy Stein is the general manager.

Business Journals on MSN.com

Tech firm Wipro to bring 500 jobs to Atlanta

In a story by Maria Saporta, the Atlanta Journal-Constitution reports that Wipro Technologies, an information technology and software services firm based in India, plans to bring at least 500 jobs to metro Atlanta within three years. According to the story, Azim Premji, chairman of Wipro, said at a breakfast event hosted by AGL Resources that the company researched 600 locations before selecting Atlanta as the site of its first global development center in the United States. High on the company's priority list were a critical mass of universities and access to a major airport, he said.

The Atlanta Journal Constitution

The Parties note that Wipro's jobs equal 1/4 of a Toyota Plant.

Business jet repair boom

Five years after after adding 115,000 SF to its business jet repair facility at Bradley International Airport in Windsor Locks, Connecticut, Bombardier Aerospace is turning customers away. "Full is full," says Jim Scavotto, general manager of Bombardier's Bradley operation, in a story by Eric Gershon in the Hartford Courant.

[PHOTO: MARCIN ZELANZNY of Meriden works on a fire detection loop on the engine of a Bombadier Challenger series aircraft at Bombadier Aerospace’s business jet repair facility at Bradley International Airport. (JOHN WOIKE / August 22, 2007)]

The Hartford Courant

Clayton County (GA) to make property owners responsible for some acts of tenants

According to a report on WXIA-TV, Atlanta, by Keith Whitney, property Owners in Clayton County may soon have the added responsibility of making sure folks who rent from them stay above the law. According to the report, County commission Chairman Eldrin Bell says neighbors are ready to take their communities back, and he says his proposal would help them to do just that no matter how many times a home or other property changes hands. He is quoted as saying, "What it's designed to do is protect the value and integrity of the neighborhood."

WXIA-TV

Miscellaneous

Chatanooga's Chattem Featured in Barron's: The Household Name Nobody Knows
Barron's


Chattanooga's Hudson Building $1.5MM Circuit City in Jacksonville
Jacksonville Sun


Large airlines like Atlanta's Delta are looking overseas to lift their profits
Minneapolis Star Tribune


Some retirees finding Shoals has a lot to offer
Times Daily


Population rises in Middle Tenn
Sidelines Online



Downtown theater finally set to open
Knoxville News Sentinel


Opinion: Growing pains will require strong medicine for Huntsville
The Huntsville Times

Wipro to launch development facility in Atlanta
Atlanta Business Journal

Miscellaneous

Urban-supermarket developers must get to know the neighborhood groups
Waterbury Republican American

Business and racing mix in Bristol Motor Speedway Hospitality Village
TriCities.com

East Tennessee's MasterCraft teams with Roger Penske in 5-Year bid to double sales
Knoxville News Sentinel

Group renews call for airport to serve northeast Georgia, supplement ATL
Athens (GA) Banner-Herald

DLC Management Corp. purchases Stone Mountain Square for $34 million

DLC Management Corp. of Tarrytown said it has purchased Stone Mountain Square in Stone Mountain, Ga. for just under $34 million. DLC manages more than 14 million square feet of retail space at 70 properties in 23 states. Local properties include the Beach Shopping Center in Peekskill, Mall at 59 in Nanuet, and Mahopac Village Center. Stone Mountain Square is DLC’s 10th asset in greater Atlanta and the third property DLC owns in Stone Mountain.

The Westchester News Journal

Polymer company to construct 432,000 Ton/Year Plant in Decatur, Alabama

AlphaPet, Inc., a new subsidiary of Indorama Polymers, Thailand (IRP), today announces that it has selected Decatur, Alabama as the site of its new polyethylene terephthalate (PET) plant. The plant will have a capacity of 432,000 tons of PET per year, making it North America's largest PET plant when completed. The unit will be located adjacent to and will receive its PTA from BP's integrated Decatur paraxylene/PTA facility on the Tennessee River.

EarthTimes.org

Atlanta's AmericasMart goes head to head with FashionCenterDallas in apparel showdown

In an article by Lauren D'Avolio and Rachel Tobin Ramos, the Dallas Business Journal reports that a dispute between the Dallas and Atlanta apparel industries is simmering after Atlanta's AmericasMart rescheduled a key market show that conflicts with FashionCenterDallas.

Dallas Business Journal

Miscellaneous

Mixed-Use Project with Green Condo Component to Rise in Tenn.
Multi-Housing News

No Wonder ASA Is Losing Market Share
The Chattanoogan

Local unemployment falls in July
Shelbyville Times-Gazette

Chattanooga Lutherans Complete Third Habitat For Humanity Home
The Chattanoogan

Springfield Massachusetts housing chief resigns
The Springfield (MA) Republican
and in a related story
Elizabeth McCright Named COO At Chattanooga Housing Authority
The Chattanoogan

Good News: Unemployment Rates down in 78 counties across Tennessee for July

According to the Tennessee Department of Labor and Workforce Development, Tennessee’s seasonally adjusted unemployment rate for July 2007, released last week, remained unchanged from the June rate of 4.1 percent. The United States rate was 4.6 percent for July, an increase of 0.1 percent from June.

County non-seasonally adjusted unemployment rates for July 2007, released today, show that all the counties experienced changes. There were 17 counties that increased and 78 counties decreased.

Knox County registered the state’s lowest county unemployment rate at 3.0 percent, down from 3.3 percent in June. Maury County had the state’s highest at 8.6 percent, the result of lay-offs at the GM/Saturn plant in Spring Hill. Despite being highest, Maury County rates were down from 8.7 in June. Followed by Weakley County was second worst at 8.1 percent, showing an 0.8 percent increase from 7.3 in June.

The state’s major metropolitan statistical areas (MSA) fared well:
Knoxville MSA: 3.1%, down from 3.4 % in June
Nashville-Murfreesboro MSA: 3.4%, down from 3.7%
Chattanooga MSA: 3.8%, down from 3.9%
Memphis MSA: 4.8 percent% , down from 5.0%.

Tennessee Department of Labor & Workforce Development

Miscellaneous

Interior Design Unveiled for Nashville's New Hotel Palomar
PR Newswire

Tennessee's ethanol production plant may soon no longer be only one in Southeast
Rock Hill Herald

Tennessee rejects convention center at Norris Lake
WMC-TV

Tellico Springs Fire Destroys Three Businesses
WDEF News 12

Industrial-use deed restriction waived in Oak Ridge park to allow commercial use by Knoxville Developer
Knoxville News-Sentinel

DDRS purchases center in Murfreesboro

According to a press release from DBSI-Discovery Real Estate Services (DDRS), DDRS has purchased of St. Andrews Place, a single-story retail building located at 2705 Old Fort Parkway in Murfreesboro, Tennessee. Built in 2006, this 25,200 square-foot building is in the immediate area of the Kohl's, Kroger, and Sam's Club shopping centers. It is also within one-half mile of four upscale apartment complexes, and less than one mile from Interstate 24, the main highway connecting the city of Murfreesboro to Nashville. With current occupancy at 95%, St. Andrew's Place has a good mix of complementary tenants, including Tennessee Lasik, Cycle Concepts, and Epco Credit Union.

PRNewswire

Knoxville's Five Points struggles

The Metro Pulse reports on the struggles of a $6.3 million public and private development funded in part by HUD grants designed to create new social and economic opportunities in disadvantaged urban areas that opened in May 2006 anchored by an IGA grocery store and other retail and business outlets. The grocery store closed after eight months, and Wells Fargo Home Mortgage recently moved out leaving only a convenience store and a Knox County satellite office as tenants. Eternal Life Harvest Center, a church and service organization is set to move into IGA space offering some hope of salvaging something out of the original plan.

Knoxville Metro Pulse

Construction To Start On Mayfair On Market

CHA Putting $3.4 Million Into Stanley Development
Chattanoogan.com reports that construction will start immediately on a long-planned mixed-used development in the 700 block of Market Street, officials of Trafalgar Development Corporation said Wednesday.The announcement came after the board of the Chattanooga Housing Authority voted Wednesday morning to sink $3.4 million into the $16 million project.

Chattanoogan.com

Toyota Tsusho Corp. to Open Auto Carpet Factory in Chattanooga, Tennessee

Expansion Management reports on the new factory: Toyota Tsusho America, Inc. and Toyota Tsusho Corporation of Japan have entered into a joint venture with Hasetora Spinning Co., Ltd. to manufacture tufted carpets for the automotive industry. The joint venture, to be called Tuftora Automotive Carpet, Inc., will be located in Chattanooga, Tennessee and employ approximately 20 people and produce 2.5 million square meters of carpet per year, and represents a total investment of $4 million.

Expansion Management

Miscellaneous

Chattanooga developer Wolford building mall in Jackson, TN
Jackson Sun



Monteagle homeowners sue developer
The Tennessean

Atlanta's IDI Enters Nashville With $80M Industrial Plan

GlobeSt.com reports that Atlanta-based IDI has begun site work on a 556,600-sf industrial building, marking its entrance into the metro area. The project is just the first step in its plan to develop up to 1.8 million sf of industrial space here. IDI estimates the entire development will cost $80 million.

GlobeSt.com

Verizon Wireless to Build $54 Million Regional Headquarters in Franklin, Tennessee

Gov. Phil Bredesen today announced that Verizon Wireless, the nation's leading provider of wireless communications, is breaking ground on a $54 million regional headquarters facility in Franklin, Tenn. Verizon Wireless will hire 600 to 700 new employees at the state headquarters over the next three to five years to manage a variety of functions, including business services, sales, financial services, IT, HR and network operations. The company currently employs over 2,200 people in the state of Tennessee. Approximately 550 Nashville area Verizon Wireless employees will relocate to the 180,000 sq. ft. facility, building capacity to over 1300 when it is fully operational in 2008.

PR Newswire

JV Fund Invests $61M in Student Housing including Huntsville Place

GlobeSt.com reports that Huntsville Place will serve students at University of Alabama at Huntsville. The development, valued at more than $14 million, is the fund’s first in Alabama. It will include 84 units with 336 beds and amenities, including a clubhouse, gaming center and swimming pool. The other two developments are 2818 Place, which serves Texas A & M University; Veranda Place, which serves the University of Texas-Pan American.

Complete Story at GlobeSt.com

Miscellaneous

Expert says community's character key to tourism
Points to Chattanooga as example
Maryville Daily Times

Bar-B-Cutie(r), Rolls Into Dallas & Fort Worth
Opened it's doors back in 1950 on Murfreesboro Road in Nashville
Area Developer - San Jose,CA,USA

New Bank to be Named CapStar Bank
To be headquartered in Nashville
PR Newswire

Dillard's will close Bellevue store in October
Nashville Business Journal

Verizon Wireless to relocate 1200 jobs to Cool Springs
Washington Business Journal

IDI Enters Nashville With $80M Industrial Plan
GlobeSt. com

Hillwood and partner developing Atlanta hotel
First hotel addition to Midtown market in years, will be managed by Kimpton Group
Dallas Business Journal

Beazer seeks to avoid default
Atlanta-based homebuilder, the largest in Middle Tennessee, files suit in federal court
Nashville Business Journal

Titans Owner Bud Adams pursuing Nashville MetroCenter's Waterfront
130,000-square-foot office centerpursued Adams and Mark Bloom of Nashville's Corner Realty Partners for between $8 million and $8.5 million
Nashville Business Journal

Tri-Cities Region A Close Second for Honda Aero Headquarters and Manufacturing Plant

According to the Tri-Cities Business Journal, Tri-Cities Regional Airport was one of two airport finalists for Honda Aero Inc.’s corporate headquarters and state-of-the-art jet engine manufacturing plant. The Honda Aero facility will be constructed in Burlington, N.C. The plant will build jet engines for HondaJet and Spectrum Aeronautical’s Freedom.

The Parties think Chattanooga should be seeking airplane manufacturers as aggressively as car manufacturers. Chattanooga is geographically positioned to take advantage of the UT Space Institute and Arnold Engineering Development Center in Tullahoma, the Marshall Space Flight Center in Huntsville, Oak Ridge National Labs in Oak Ridge, UT-Batelle in Knoxville, and Georgia Tech and in Atlanta. With Martin Marietta near Atlanta, the C-130 repair facility in Warner Robbins, Georgia, and Northrup Grumann in Alabama (just to name a few), materials suppliers and vendors are close by. Add to all of those resources Chattanooga's own SIM Center on the Campus of Chattanooga's University, and Enterprise South becomes a hospitable and accessible home for jet plane manufacturing. The range of jobs provided is greater -- high tech and low tech -- and all have strong pay.

Perhaps Chattanooga tried to get the Honda Aero plant, too, but no stories yet indicate so, and the plant is now headed to Burlington, NC.

For details see The Tri-Cities Business Journal

SunTrust to cut 2,400 jobs

According to a number of reports, SunTrust will cut 2,400 "non-contact" jobs -- jobs where the employees do not interact with customers. The job cuts are a part of cost cutting with a program known as E-squared. According to Bloomberg, the bank had eliminated 900 jobs in the last quarter of 2006 and the first quarter of 2007 with a hiring freeze. Bloomberg also reports that the bank has been selling shares of Coca-Cola stock it has owned since taking Coke public 90 years ago. Reuters reports the effort is an attempt by CEO James Wells to increase efficiency after tripling in size under predecessor L. Phillip Human.

See the following for details

The Washington Business Journal
Bloomberg
Reuters

Miscellaneous

July Passenger Boardings Soar Over 30% At Chattanooga Airport
The Chattanoogan

Monteagle homeowners sue after Christian group buys development
WMC-TV

Investment raises stature of Cobb Galleria area
Atlanta Journal Constitution

UPS Updates Sustainability Report
Business Wire

TED'S MONTANA GRILL OPENS SEPT. 10 IN LAWRENCEVILLE
dBusinessNews Atlanta

Triple Net Properties buys 260-unit Wesley Paces Apartment Complex in Norcross, Ga.
Wichita Business Journal

University of Tennessee at Chattanooga SimCenter Implements IPMI
Business Wire

Appalachian Bancshares Inc. Launches Service in Dalton, Georgia
Primenewswire

Annex workshop on Signal Mountain
Times Free-Press

BRAC shifts into new gear
The Jackson County Daily Sentinel

Northwest Georgia Bank Hires 2 For Hixson Branch
Chattanoogan

Raymond James considers expanding banking business - potential cities include Atlanta, Nashville
InvestmentNews

Sale of wholesale supply division by the Home Depot on hold due to credit crunch
Atlanta Business Chronicle

Springfield leaders bring ideas home from Knoxville
Springfield Business Journal

Miscellaneous

Allegiant may help cut Huntsville fares
Huntsville Times


Water main break halts business on Knoxville's Cumberland Strip
WATE.com

An experiment in government

Atlanta's newly incorporated suburbs set up bare-bones government. One has just five workers. County officials are adjusting too.
Los Angeles Times

Miscellaneous

Chattanooga cited as example for Rochester NY in editorial
Rochester Democrat & Chronicle

After nearly 25 years, the expansion of Alabama 157 is finished
Florence (AL) Times Daily

Chickamauga streetscape project delayed
Walker County Messenger

Some Cobb County (GA) homeowners fear 'McMansion' trend
Atlanta Journal Constitution

Rock City Next Stop: A View Of True Business Smarts
CNBC

Concern About Brow Road Changes And Proposed Condominiums
The Chattanoogan

Conference on BRAC relocations highlights efforts to attract Army personnel to Tennessee Valley

According to the Decatur Daily News, a recent conference on the personnel transfers associated with Base Realignment And Closure (BRAC) reflects the cooperation among communities competing for residents who will move to the Tennessee Valley in conjunction with the transfer of 10,000 jobs. The conference, "BRAC to the Future" was aimed at getting Army personnel to move to the area from DC when the jobs transfer.

The article demonstrates the excitement of area officials by quoting Lincoln County Tennessee Executive Jerry Mansfield: "If you don't get a little tingle from this, we need to call the Madison County coroner."

The article offers some of the numbers prompting Mansfield's excitement. BRAC will bring 4,700 government jobs and at least 5,000 defense contractor jobs to North Alabama, most for high-salary engineers and logisticians. By the end of this year, 1,032 government jobs will have moved to Redstone. Another 1,756 will move in 2008; 232 in 2009; 1,600 in 2010 and 1,100 in 2011. Most are bringing families with them.

Transfer stats quoted by the article show that rates are low. Historically, fewer than 20 percent of government personnel transfer to a new location with BRACs. However, transfer rates don't matter. By Sept. 15, 2011 — the congressionally imposed deadline — the jobs will be filled by transfer or new personnel. The specialization of the jobs suggests that, whether from D.C. or elsewhere, out-of-town applicants will fill most jobs.

See the complete article in the Decatur Daily News.

Decatur (AL) Industrial Development Board OKs tax breaks for Hexcel project

According to the Decatur Daily News, the tax breaks for Hexcel, allowing the site to compete with one other facility within the corporation, but outside the US, for a $77MM upgrade to manufacture acrylic fiber for conversion to carbon fiber primarily for the aerospace and aviation industry. The expansion will add 25 jobs with a payroll of $910,000 to the 106 already at the plant.
The Decatur Daily News

New shopping centers for Huntsville

According to the Huntsville Times, Fairway Investments, LLC of Birmingham is developing two Huntsville-area shopping centers, one in the Hampton Cove area and the other on U.S. 72 in northwest Huntsville. TJ Maxx will anchor the center of about 60,000 square feet at one center. Other Tenants to be announced.
The Huntsville Times

Walker County GA awarded state "Work Ready" grant

The grant advances Walker County's goal of being "Certified Work Ready Community", a designation earned when counties demonstrate a commitment to improving public high school graduation rates, show a specified percentage of graduates are entering the workforce, and drive current workers and the unemployed to obtain a Work Ready Certificate.

Miscellaneous

Towering Fire Destroys Mountain Market On Lookout Mountain
Threatens Nearby City Hall At Fairyland
The Chattanoogan

Walker County GA awarded state Work Ready grant
Walker County Messenger

New Incubator in Norhtwest Huntsville
Tenants see a strategic opportunities in advance of BRAC relocations which will include transferring some 2,500 Missile Defense Agency jobs to Redstone Arsenal from DC.
The Huntsville Times

5th Annual Healthcare M&A & Corporate Development Conference, September 24-25, 2007, Nashville, TN
Insurance News Net

Birmingham leaders say large industrial projects on the horizon
Birmingham Business Journal

More BRAC: 350 more Army jobs expected in Huntsville
Huntsville Times

Incline Drawing More Riders, But Still Operating Below Budget
The Chattanoogan

Tennessee's Unemployment Rate Stays At 4.1 Percent
while
Georgia’s Unemployment Rate Increases
The Chattanoogan

Chattanooga one of 50 Hottest Cities for 2007

Chattanooga did not make Expansion Management Magazine's top list for 2006, but it is one of the 50 Hottest Cities for 2007. The list is subjective, based on interviews of expansion planners. Apparently Chattanooga does very well on those matters that are more difficult to quantify. The article spends some time discussing how Chattanooga moved quickly, including the efforts of public officials, the chamber, and property owners, to land the T-Mobile call center and quickly employ 800 people.

See the article at this link. See the list of 50 Hottest Cities at this link.

Miscellaneous
Chattanooga Airport Gets $5,000,000 Grant
WTVC

Soddy-Daisy Commissioners Discuss Traffic Concerns
The Chattanoogan

Inspectors to Crackdown on Code Violations in East Chattanooga
WTVC

Corker To Speak At Fundraiser For Rep. Gerald McCormick
The Chattanoogan

Phillip Tutor: Hey, look at Mississippi
The Anniston Star

EPB Going Into The Cable TV Business
The Chattanoogan

Knoxville & Huntsville ranked by Expansion Management Magazine

Yesterday, the Parties posted a couple of press releases regarding Knoxville TN MSA being ranked 3d among cities 200K to 1MM. by Expansion Management Magazine. Today, a look at the complete list shows that Huntsville AL MSA is ranked 5th. Details are filtering out through the media with comments from area officials. A complete list of the Top 20 in PDF format is here.

The online version of the complete article is here. It includes a quote from Knoxville Mayor, Bill Haslem: “Business growth is important to us because it grows the tax base that helps us make Knoxville an even better place to live, and it creates good jobs for our citizens. It reflects the progress we’ve seen in making Knoxville a great place to live, work and raise a family.”

The overall ranking came from several components. Here is how area cities fared: (You can click the title to link the complete list.)

5-Star Business Opportunity Metros (i.e., MSAs)
11. Knoxville, TN
15. Huntsville, AL
18. Nashville, TN
25. Birmingham, AL
38. Atlanta, GA

Education Quotient (by School District; Best to worst: Gold, Blue, Green, Yellow, Red)
Alabama
Birmingham City - Red
Calhoun County (Anniston) - Yellow
Hoover City - Gold
Huntsville City School District - Blue
Jefferson County (Birmingham) - Green

Georgia
Atlanta City - Yellow
Fulton County - Green
Cherokee County (Canton) - Green
Whitfield County (Dalton) - Yellow
Dekalb County (Decatur) - Red
Gwinnet County (Lawrenceville) - Green
Cobb County (Marietta) - Green

Tennessee
Hamilton County (Chattanooga) - Green
Bradley County (Cleveland) - Yellow
Johnson City - Green
Knox County (Knoxville) - Green
Rutherford County (Murfreesboro) - Green
Nashville-Davidson County - Yellow
Oak Ridge - Gold
Sevier County - Green

Knowledge Worker Quotient
Top Metros for Scientists and Engineers
4. Huntsville, AL

Top Metros for University R&D Spending
9. Atlanta, GA

5-Star Knowledge Worker Metros (from the region, in alpha order)
Atlanta, GA
Huntsville, AL
Knoxville, TN
Nashville, TN

Logistics Quotient
4-Star Logistics Metros (from region, in alpha order)
Huntsville, AL

5-Star Logistics Metros (from region, in alpha order)
Atlanta, GA
Birmingham, AL
Chattanooga, TN
Nashville, TN

Legislative Quotient
4. Tennessee
9. Georgia
19. Alabama

Health-care Cost Quotient
Alabama - 5 Star
Georgia - 1 Star
Tennessee - 4 Star

Quality of Living
5-Star Quality of Life Metros
Huntsville, AL

4-Star Quality of Life Metros
Birmingham, AL
Johnson City, TN
Knoxville, TN

Affordable Housing
-Overall
8. Decatur, AL
- MSA Population Over 1MM
6. Birmingham, AL

Standard of Living
-Overall
5. Huntsville, AL
6. Nashville, TN
8. Birmingham, AL
- MSA Population Over 1MM
2. Nashville, TN
4. Birmingham, AL
9. Atlanta, GA

Continuing Education Opportunities
10. Atlanta, GA

No regional placement in top 10 for the following even within size categories where offered:
Good Public Schools
Low Crime Rate
Adult Education
Traffic & Commuting
Commercial Air Access
Labor Markets

You can see the KnoxNews Blog about it here, complete with accolades and aspersions. Accolades come from folks with screen names like "Robert Cathey". Aspersions come from folks who use screen names like "truthseeker" that allow them to hide their true identity and who clearly did not take any time to look at the comprehensive nature of the ranking system. The Parties don't really understand pock shot criticism of the success of others, especially then the success benefits the critic. Further, the Parties dislike pock shot criticism from folks who hide behind pseudonyms. Perhaps the Parties should learn to ignore criticism from folks who are too ignorant to see the irony of hiding their true identity behind pseudonyms like "truthseeker".

Knoxville-Oak Ridge MSA ranked 3rd among mid-sized regions by Expansion Management Magazine

Expansion Management magazine has named the Knoxville-Oak Ridge "Innovation Valley" third among all mid-sized regions in the nation in its annual "Best Metro for Business and Expansion" competition. "Innovation Valley" is the name under which the 5-county Knoxville MSA markets itself, and if the designation by Expansion is any indication, that marketing is effective.

The ranking is based on a poll of 80 site consultants. Tennessee peformed well in healthcare costs and the ease of doing business. Proximity to University of Tennessee and the Oak Ridge National Laboratory helped Knoxville.

Read a Press Release from the Knoxville Chamber at EarthTimes.org. Link to the release by publisher Penton Media at BusinessWire. Link to the magazine's site (but not this article, yet) at Expansion Management.

Miscellaneous

Fourth Annual Hiawassee Festival of Arts to showcase 100 artists
Union Sentinel

Fifth Third to Enter North Carolina and Atlanta Markets With Acquisition of First Charter
CNN

CBL advances strategy of building portfolio of strong centers in secondary markets

RetailTraffic reports on CBL's deal to purchase malls in the St. Louis area, citing analysts who view the deal as good for both the buyer and the seller.

See RetailTraffic.

UTC SimCenter To Receive 100-kilowatt Solid Oxide Fuel Cell

The Chattanoogan reports that UT-Chattanooga will get the first 100-kilowatt solid oxide fuel cell for a demonstration project. According to the story, Congressman Zach Wamp said he asked for and received a $3.5 million appropriation in a House-passed defense bill that, if it becomes law, will bring the first 100-kilowatt solid oxide fuel cell to the campus. When asked when the 100-kilowatt unit would arrive at UTC, the piece reports that Dr. Sridhar said after they get the money from the government, and construction will take 6 to 9 months .

From the Chattanoogan.

Athens (TN) auto carpet plant closing

According to the Chattanooga Times-Free Press, Collins & Aikman will close a plant in Athens, Tennessee, that made carpet for the automobile industry. C&A is trying to restructure through a Chapter 11, and the plant is one of the assets being sold to help pay creditors. The closing is expected to cost 445 jobs.

Recently, the TFP reported that Chattanooga had landed a Japanese maker of car carpet, Tuftora, but according to that story, the new plant will employ about 20, hardly making a dent in the jobs lost. However, the story does say that Tuftora will invet $4MM in its plant, some of which will certainly create an indirect benefit to the community in the form of construction jobs, material sales, and related taxes.

Miscellaneous

Knoxville property owners balance land's history and use
Knoxville MetroPulse

Ginn Resorts buys upscale development in Georgia
Orlando Sentinel

Pinnacle to acquire Bank of the South, PrimeTrust banks
Murfreesboro Post

Navy work coming to Hunstville Boeing site
Additional indirect jobs expected from relocation
The Huntsville Times

Allegiant Air to add destination(s) from Knoxville
Knoxville News Sentinel

Chickamauga Historic District listed in National Register
Walker County Messenger

Catoosa County to add fee based GIS

Opinion: The fee may limit utility without providing revenue sufficient to offset the utility loss. Providing the data for free makes it easier to use, and increases its use, which in turn benefits the community by putting good data in the hands of all property owners, individuals and developers alike. Counties who fund themselves by taxing property should not charge its constituent property owners to access data that the county has about their property. But fee-based data access is better than none at all.

See the Catoosa County News.

A new stadium for the Atlanta Falcons?

Atlanta Business Chronicle reports buzz around the Request for Proposal for publicly owned property around CNN Center. Matched with statements by Falcons owner Arthur Blank about the need for a new stadium with 10 years, the conclusion about a new stadium is plausible.

The story reports that bids are due on Aug. 22, and a consultant is expected to be in place by October.

See details at the Atlanta Business Chronicle .

Georgia real-estate attorneys left with bad-check debt by HomeBanc failure
The Associated Press reports that closing attorneys who handled home purchases funded by HomeBanc in Georgia have ended up as unsecured creditors when the HomeBanc checks in their escrow accounts bounced after the attorneys had closed the transactions conveying real estate.
Forbes

Still more good job news for Huntsville
Boeing to transfer work to there.
The Birmingham News reports that Boeing Co. will transfer production of a warhead for ship-based missile interceptors from Anaheim, Calif., to its Huntsville facility, and with it, 30 jobs with Boeing. The indirect job impact is not discussed in the article.

Other recent pieces here have discussed Huntsville's job growth, particularly with the defense industry. See Parties Agree:
*More good job news for Huntsville and Alabama
*North Alabama traffic crunch?
*Huntsville ranked 6th in nation by Creative Class Group
*UAVs, important to North Bama economy, at heart of Army/Air Force dispute

Go Huntsville.

See the complete article re Boeing in Birmingham News
Miscellaneous
Insurer Cigna boosts already large Chattanooga workforce
Adds 95 jobs
Times Free Press

Knoxville Council denies rezoning
Developer's request for shift to medium-density residential fails for lack of tie-breaking vote
KnoxNews.com

Old Navy planned for ex-Farmer's Market site in Knoxville
Company has yet to announce plans for Knoxville Center store
KnoxNews.com

Fed Ex Ground considering Kingsport site
Kingsport Times-News

Researchers at Oak Ridge Working To Improve Efficiency Of Ethanol Fuel
Science Daily

Seaman Corporation in Bristol Tennessee announces plans for a $7 million expansion
Tri-Cities.com

ORNL, UT selected for second supercomputer
OakRidger.com

An EMJ Corp. subsidiary provides the infrastructure needed to harness the wind
Ben Fischer, president of Chattanooga-based Signal Wind Energy
BusinessTN

More good job news for Huntsville and Alabama

Northrop Grumman's KC-30 Tanker Will Generate 5,000 New Jobs in Alabama and Increase Economic Impact to $1 Billion Annually

According to a story on PrimeNewsWire, the state of Alabama stands to pick up 5,000 new jobs if the US Air Force selects Northrop Grumman's KC-30 Tanker. The article quotes governor Bob Riley as saying that he is confident that the USAF will choose the KC-30 if they base their decision on the merits of the craft. Beneficiaries of the contract are suppliers in Mobile, Foley, Tallassee, and Huntsville, Alabama. Huntsville suppliers include Engelhard (BASF), supplier of ozone converters, and PPG Industries, supplier of windshields and glass. (Complete story at PrimeNewsWire.)

These jobs are in addition to 10,000 jobs transferring to the Huntsville area from Washington DC as a part of Base Re-Alignment and Closure (BRAC). (See Parties Agree 8/9/07) and those jobs will all be transferred by 2011. That brings the total to 15,000 jobs, new to the state over the next three years. That's over seven times what Chattanooga hoped to pick up in direct jobs when pursuing the Toyota assembly plant. Granted, some of the 5,000 KC-30 jobs are not specifically in Huntsville, but if it is reasonable to assume that since 2 out of the 5 key suppliers are in Huntsville, then 2 out of 5 new jobs will be there, too, then that still means 12,000 jobs in the Huntsville area alone -- still 6x Toyota assembly plant jobs.

Go Huntsville.

Chattanooga flight from Atlanta nation's worst for delays

Two of top five, including the #1 slot, are CHA/ATL flights.

The Chattanooga Times-Free Press today reports that two flights connecting Chattanooga and Atlanta on Atlantic Southeast Airlines are among the five worst in the country based on numbers from June. Both flights were late 100% of the time.

Flight 4104 from ATL to CHA was worst in the country. With a scheduled 7:38pm departure, the flight was late an average 2 hours 33 minutes.

Flight 4415 from CHA to ATL was fourth worst. With a scheduled 6:33pm departure, the flight was late an average 1 hour 51 minutes.

See the complete story in the Times-Free Press.

Huntsville ranked 6th in nation by Creative Class Group
Based on Richard Florida's Creative Class theories of economic development, the Creative Class Group ranks cities on the number of creative class members per square mile.
Rockford (IL) Register Star

Miscellaneous
Rite Aid at Shallowford and Hickory Valley in Chattanooga
Chattanooga Times-Free Press

Highwoods Properties to Build Cool Springs IV in Nashville
$27.6 million, 153,000 square foot multi-tenant Class "A" office building
Business Wire

St. John's owner to open 3rd restaurant in Chattanooga
Chattanooga Times-Free Press

Planners seek urban-style growth on South Broad in Chattanooga
Chattanooga Times-Free Press

Retailers join The Avenues Forsyth (GA) development
Atlanta Journal Constitution

Huntsville's Yulista Aviation Receives AS9100 and AS9110 Certification
PR Newswire

Astec to create green division
Chattanooga Times-Free Press

Chattanooga lands Japanese maker of car carpet
Chattanooga Times-Free Press

Interstate access draws Canadian manufacturer
Chattanooga Times-Free Press

Atlanta, Nashville, and Knoxville in top 100 for foreclosures per ReatlyTrac
Atlanta 10th, Nashville 61st, and Knoxville 77th
PR Newswire

Home Depot's profit slips 15%
MarketWatch

Max & Erma's looking for franchisees in East Tennessee
KnoxNews.com

Tri-Cities adds 6,300 jobs in second quarter; ninth consecutive quarter of employment growth
Kingsport Times-News

Madison mall still in works
The Huntsville Times

Congressman Cramer announces funding for improvements Scottsboro airport
The Scottsboro Daily Sentinel

UAVs, important to North Bama economy, at heart of Army/Air Force dispute

Unmanned Aerial Vehicles are controlled by the Army under a program headquartered in Huntsville, Alabama. According to an article in the Huntsville Times, the Army wants to maintain exclusive control of the UAVs, despite Air Force efforts gain control.

The article notes that the UAV office at Redstone employs nearly 250 people, and expects to employ 280 by 2010. Further, Redstone estimates the unmanned airborne system industry creates more than $66 million in business in the North Alabama economy.

See the complete story in the Huntsville Times.

Miscellaneous
Gameday condo project in Knoxville near UT on track
Developers are betting that school spirit will move alumni, other supporters to look for housing close to campus, sporting events.
The Chicago Tribune

Rafting outfitters say river trips holding steady despite drought
WMC-TV - Memphis

Robotics Conference in Huntsville
Birmingham News

National Retail Federation reports July Retail Sales Stronger Than Expected
National Retail Federation News

Harris Teeter an anchor? Upscale grocers drive traffic
The Washington Post

Wal-Mart takes No. 2 slot in consumer electronics sales
National Retail Federation SmartBrief

Clement and Dean tap into diverse brain trusts in race for Nashville Mayor
Ashland City Times

Athens, Ga paper surveys public parking costs and fines in the area
Athens Banner Herald

More competition for Chattanooga as site for Atlanta's second airport

The Athens (GA) Banner Herald reports that Barrow County is the early favorite for Atlanta's second airport. The article focuses on a meeting scheduled for August 23 marking reformation of a thirteen-county Northeast Georgia group that has been dormant for 15 years. The Northeast Georgia Surface and Air Transportation Commission will seek state and federal funding for studies while scouting sites for a 20-to-24-gate airport. The airport could offer flights to 20 to 40 cities and draw passengers from the north Atlanta suburbs to the South Carolina line.

Chattanooga Mayor Ron Littlefield, speaking to the Market Center Council of the Chamber of Commerce, said that he wants Chattanooga's airport to expand to meet the need and become Atlanta's second airport. He pointed out that Chattanooga's airport has longer runways and more acreage than Reagan National Airport in Washington, DC, and LaGuardia International Airport in New York.

However, the announcement by consulting firm regarding Gwinnett County, Georgia last week (see Parties Agree) and the specific initiative and funding by this 13-county alliance in Northeast Georgia this week makes it clear Chattanooga has some competition.

According to the article, Delta Air Lines' recent exit from bankruptcy and Atlanta's receipt of a $1 million federal grant to study an overflow airport for Hartsfield has lead to the recent buzz. So far, officials have mentioned Chattanooga in Tennessee and Dawson County, Paulding County, and Macon as potential sites. The City of Atlanta already owns 10,000 acres in Paulding County.

The article also notes each sites problems. Chattanooga: 100 miles away and economic benefits would go to Tennessee. Paulding County: residential growth around the land might lead to complaints. Dawson County: difficult terrain. Macon: located on opposite side from the northern suburbs whose residents are driving demand.

A 1992 study noted in the article said that a regional airport would create more than 47,000 jobs and bring $2.6 billion in 1990 dollars to the region. That study concluded that the second airport should go on the I-85 corridor east of Atlanta. According to the article, the study's author says that the study is long out of date.

It would be good to hear some announcement from Mayor Littlefield, Hamilton County Mayor Claude Ramsey, Congressman Zach Wamp, the Chattanooga-Hamilton County Chamber of Commerce, or some combination of thereof regarding some specific effort competitive with Gwinnett, Barrow, Paulding, and Dawson Counties, Macon, and the rest of the 13-county alliance in Northeast Georgia.

See the article in the Athens (GA) Banner-Herald

Miscellaneous
Huntsville considers "unitary status" for its schools
The Huntsville Times

Study: ALCOA has $4.7B economic impact on Alcoa, TN area
12,000 jobs and generates $48.3 million in state and local tax revenues contribute to conclusion in an independent study.
The Daily Times

Five Guys Burgers seeking franchise sites in Murfreesboro
The Murfreesboro Post

Chattanooga City Council Agenda For Tuesday Night
Chattanoogan

Normal Park Celebrates Centennial Year
The Chattanoogan

Federal contracts awarded in Huntsville
The Huntsville Times

New Elementary School in East Ridge?

It depends on whom you ask.

If you ask County Commissioner Curtis Adams, the answer is "yes": County Mayor Claude Ramsey presented a budget that included funds to replace the eighty year old school, and the County Commission approved that budget and raised property taxes $0.26 to cover it.

But if you ask School Board Member Debra Matthews, the answer is "maybe not": It's up to the school board to decide what schools are built where, and they have not made that decision yet.

From NewsChannel9.com by Kim Fields

Hixson Middle School Breaks Ground In Hamilton County
Details at WDEF News 12

Knox numbers for 2007 down compared to 2006 and 2005

Flory follow-up:
In an earlier piece ("News analyst concludes Knoxville market 'sluggish'" 8/8/07), this blog discussed whether Josh Flory had looked at the 2005 numbers and they were also higher than the 2007 numbers. Flory replied to an email asking whether 2007 was worse than 2005, saysing that 2007 was worse. He supplied data from the Knoxville Association of Realtors indicating that though 2007-Q1 units exceeded 2005-Q1 units, 2007-Q2 lagged 2005-Q2, and the Q2 deficit exceeded Q1 excess making the first half numbers of 2007 worse than both 2005 and 2006, distinguishing Knoxville's downturn from Chattanooga's. The downturn in Knoxville is arguably worse.

See details from Knoxville Association of Realtors analyzed in this spreadsheet.

More Follow-up: Home Mortgage Lender Home Banc Files for Chapter 11
An earlier post highlighted a Bloomberg article analyzing the problems faced by home mortgage lenders and the impact on the banking industry as a whole. Further evidence of the mortgage industries woes: Home Banc's chapter 11 filing, coming just days after HomeBanc sold five retail branches to Countrywide Financial Corp.

Delinquencies and defaults have increased rapidly, making it difficult to sell the loans to investors in secondary markets, and with no one buying the loans, mortgage lenders have no liquidity nfor continuing business. American Home Mortgage Investment Corp. filed bankruptcy in the same court last week under similar circumstances.
From the Associated Press via Forbes.com


Miscellaneous
Chattanooga Police Pulls Officers From Schools, Puts Them on Streets
WDEF News

Hamilton County Schools Now In Good Standing On No Child Left Behind
The Chattanoogan

Roy's Grill open again in Rossville a hop and a skip from the Georgia-Tennessee line
Walker County Messenger

Business coalition endorses Dean for Mayor of Nashville
Ashland City Times

Knox Co. mayor calls for fed. review of grant money used by county
WATE.com

Emporium Annex replaces space lost in Candy Factory
Knoxville News Sentinel

Ruby Tuesday Expands Agreements to Allow Franchisees To Develop More Restaurants
25 new restaurants to be developed in North Dakota, Missouri, Nebraska and Iowa
Business Wire

Bank pulls money from Nashville Sounds' account to pay the team's legal, other fees
The Tennessean

A/C Use Up, Heat Deaths Down in South
Forbes

Federal Home Loan Bank of Atlanta Announces New Chief Financial Officer
Earthtimes.org

Banking industry hurt by sub-prime lending crisis

Shares of the top 12 U.S. banks have declined 17 percent since June 1. Analyst expects that a third of the U.S. home-loan industry will disappear.

Bloomberg

Zoning Dispute prompted Chattanooga Councilman Benson's entry into politics
According to a piece in the Chattanoogan, Benson opposed rezoning to accomodate a rumored Costco in his residential neighborhood. When the representative for his district voted for the rezoning over the objection of a citizens group that included Benson, Benson spent weeks trying to find someone to oppose him in the next election. Unable to find that candidate, Benson decided to run himself, beginning his politcal career.
Chattanoogan

Miscellaneous

Rome, Georgia receives $500,000 in housing program grants

Rome News-Tribune

CBL to Dominate St. Louis Retail Market with $1B Mall Deal
Commercial Property News

Some Delta Flights actually cheaper from Chattanooga

In her Daily Deals column for the Atlanta Journal Constitution, Clara Bosonetto Maerz reports that "deals become steals if you can start and end your trip from Chattanooga." She points out that "Atlanta's hideous traffic" may prompt folks in Atlanta's northern suburbs to drive north to CHA in Chattanooga, away from Atlanta, rather than through or around Atlanta to ATL south of Atlanta's central business district.

Maerz includes examples of savings. Some of the destinations are random, but she notes that round-trip rates to Portland, Ore., from Chattanooga are $219 (from Atlanta $619); $239 to San Jose, Calif. from Chattanooga (from Atlanta $358); $259 to San Juan, Puerto Rico ($368); $269 St. Thomas, U.S. Virgin Islands ($359); $379 Boise, Idaho ($519), and $453 Anchorage, Alaska ($534).

See Maerz's complete article from Atlanta Journal Constitution.

Other Stories
North Alabama traffic crunch?
U.S. Rep. Bud Cramer (D-Huntsville, AL) says that the No. 1 challenge facing North Alabama is how it will handle the cars of the thousands of defense workers who will relocate to the Huntsville area from the Washington, D.C., area by 2011 in conjunction with jobs from the Missile Defense Agency, Army Material Command, and the Space and Missile Defense Command.
Cramer says traffic area's top challenge
Huntsville Times

Gaylord expansion comes amid boom
$400M Nashville project will add suites, 1,300 jobs
By Chas Sisks
Gaylord Entertainment Co. said Wednesday it will start finalizing designs for a $400 million addition to the Opryland Resort & Convention Center after the Metro Council's vote late Tuesday night to fund one-fifth of the project through tax revenues created by the expansion.
Full story The Tennesseean

Miscellaneous
Chattanooga State Adds "Passage" Program for Working Adults
WDEF News 12

Publix's free-drug offer has flip side
The grocer apparently ended its $4 price on generic drugs while touting free antibiotics.
From the Orlando Sentinel

Price may dip in Home Depot supply unit sale
Atlanta Journal Constitution

Federal Home Loan Bank of Atlanta Awards $3.6 Million for low income Housing
Earthtimes.org

Cousins Properties and The Related Group Team for $130MM development in Atlanta's Buckhead area

Cousins Properties Incorporated and Miami-based The Related Group announced today the companies have formed a partnership with plans to develop high-rise condominium buildings in two Atlanta projects: Terminus and CityPlace Buckhead. The partnership’s first building will be One CityPlace, the first of nine planned towers at Related’s CityPlace Buckhead. After One CityPlace is complete, the partnership would then plan to develop the first of two planned 40-story high-rise condominium buildings at Terminus, Cousins’ mixed-use project at the intersection of Peachtree and Piedmont roads in Atlanta’s Buckhead district.

Cousins and Related Announce Atlanta Partnership
Business Wire

Related, Cousins join up for $130 million Buckhead development
Atlanta Journal Constitution