Market Overview

Veteran Real Estate Developers Team Up For Upper Westside Development 8West


Veteran Real Estate Developers Team Up For Upper Westside Development 8West

Mixed-Use Development Will Include Office, Retail, Residential and Art Gallery

PR Newswire

ATLANTA, Aug. 2, 2018 /PRNewswire/ -- In an effort to meet the city's demand for Class A creative workspace, two veteran real estate developers are joining forces to bring 8West, located at the corner of 8th and Howell Mill, to the Upper Westside. Developers Jim Meyer of Atlantic Capital Properties and Mack Reese of Gateway Ventures envision the space to attract technology and creative companies who will thrive in authentic, walkable and amenity-rich environments just minutes from some of the city's top restaurants, retailers and entertainment venues.

"The timing to integrate a Class A workspace component into the retail hub of the Upper Westside could not be better," said Jim Meyer of Atlantic Capital Properties. "When we worked with Gateway Ventures on the development of Centergy at Tech Square in the early 2000s, we found there was demand for space from companies who wanted to be close to the Georgia Institute of Technology (Georgia Tech) for their recruiting and research needs. As Midtown has changed and the economy evolved, we now see a similar demand for space on the Upper Westside. With 8West, we have designed a project which will appeal to creative companies and individuals who value walkability and unparalleled access to the best restaurants and entertainment venues in Atlanta – a place where people want to be. I'm thrilled to be working with Mack and Gateway Ventures again as we aspire to bring the same connection to the west side of Georgia Tech's campus that we brought to the east side 17 years ago."

Slated to deliver in the Spring of 2020, 8West will include a 200,000-square-foot office/retail component and will maintain the existing 15,000 square feet of retail that is currently comprised of Bartaco, Bocado, Arden's Garden, A Ma Maniere and the new Hathaway Gallery space, all of which will remain open throughout the construction process. The project will add 175,000 square feet of Class A office space along with an additional 10,000 square feet of retail developed in collaboration with Cartel Properties.

In addition, Trammell Crow Residential will develop an adjoining 264 luxury residential component. 8West will also feature a 680-car parking deck.

The nine-story, amenity-rich development will include multiple outdoor terraces featuring 360-degree views of the city, a fitness facility, bike storage and repair, common collaborative spaces and conference facilities, an outdoor public plaza and podcast rooms. The area includes over 30 popular chef-driven restaurants within walking distance and boasts a WalkScore of 90 and a BikeScore of 88.

In an effort to integrate the Upper Westside's vibrant arts community, 8West will partner with Hathaway Gallery to engage local artists through a unique outreach program for both public art and building artwork. The building will also feature a 4,000-square-foot west-facing art wall that will serve as an iconic landmark in the neighborhood.

To ease the flow of traffic, area-planned improvements include a realignment of Howell Mill Road and Marietta Street that will provide convenient vehicular and bicycle access to the Westside Park at Bellwood Quarry and a public gathering plaza connected to the 8West lobby. Similarly, the planned completion of the Tech Parkway Trail will link Georgia Tech's campus to 8West, offering safe access by foot or bike.

Equity financial partners on the project include Harvest Capital Group and Ellis, McQuary & Stanley. The leasing effort will be led by Stephen Clifton and Zach Wooten of PMRG. The general contractor will be BL Harbert International, and the architects will be MSTSD for the base building and ASD/Sky for the interiors.

The developers have negotiated financing terms that do not require a pre-leasing requirement, and construction is scheduled to commence in the fourth quarter of this year.


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