News
SKY-HIGH APARTMENTS
July 7, 2011
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| Reznick Group's newest hire has been boning up on the multifamily market. Jonathan Bartlett, seen this morning in his office at 2002 Perimeter Summit (the company hasn't moved into Two Alliance Center yet), tells us that's where the most development opportunities lie, especially in town projects: ?Midtown has sort of finally got a critical mass of urban amenities that should support higher-end, higher-density rental product.? Jonathan, who consults with developers on their development plans, says ?The play right now is what is the product you need to deliver in order to justify the construction of high-rise development.? And that magic number right now needs to be north of $1.70/SF, a rate not typically seen in Atlanta. Certainly, developers are dusting off development plans for high-rise urban apartments, including Daniel Corp at its 12th and Midtown project and even Novare Group, which is eying such a project at its recently acquired West Peachtree and 14th streets site. | |
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| Jonathan was also part of a team of more than 50 Reznick Group employees who spent the day recently in Tuscaloosa to help with the cleanup efforts from April's tornado that damaged a wide swath of the downtown area. Sure, you can see the damage in the distance, but just to let you know, that pad wasn't a parking lot. There was some sort of fast-food joint there. ?It was very striking the amount of damage that was there,? Jonathan says. | |
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| Reznick Group's Bruce Van Vreede tells us that many new hires and interns come from the University of Alabama, so there's a feeling of kinship to help out the Tuscaloosa community. Reznick Group hauled a truckload of cleaning supplies donated to help with the restoration activities in Tuscaloosa. Between the donations and dollar contributions to the American Red Cross, Reznick Group employees raised more than $43k toward disaster relief. And Bruce tells us the Reznick Group team, seen here, helped sort donated supplies at the various supply stations set up throughout the city. |
