A Decade Later, $500M Hapeville City Center Redo Moving Forward
For the City of Hapeville and Newmark Grubb Knight Frank's vice chairman, it's been a decade-long vision in the making. And maybe, finally, that vision is coming to fruition, as we'll hear during our 2016 Aerotropolis Expansion next week.
NGKF vice chairman Neal Golden has a little legacy left in Atlanta—aside from years as one of Atlanta's top tenant rep brokers. That legacy is helping Hapeville come up with a concrete plan to transform city land just north of Hartsfield-Jackson Atlanta International Airport into a half-billion dollar mixed-use project.
Neal—one of our panelists April 19—began work with Hapeville officials in 2005 on 35 acres purchased by the city over the course of the early 2000s that was a collection of old shops and offices. In turn, Main Street Partner Group—the independent company headed by Neal—has been drafting a vision of what uses would eventually go on the site.
Enter the recession. Momentum on that plan stalled due to the financial crisis, and for all practical purposes, the city's plans gathered dust for years. Then, Neal says, something big happened: Porsche North America moved its HQ and all the sporty accoutrements right next door.
And given the now-healthier economy, the city and Neal are back at coming up with the final vision for the redevelopment—and finally naming developers to get started on the work.
“We were always committed that the daytime and nighttime population would have a place to go,” Neal says, adding the project would incorporate restaurant and entertainment venues as well as traditional office and retail. And residential. “Without question, the commitment of Porsche bringing its people and customers to the north side of the airport was critical,” he says.
But growth around what is now known as Aerotropolis has been more than just Porsche. It's involved the new fifth runway (here) at Hartsfield. And the presence and expansion of other big corporate names—Delta Air Lines and Wells Fargo, as well as a general desire by Millennials to live closer to the city center.
What that is all spelling out in Neal's mind is a transformation of the airport area seen elsewhere. “Look at the examples of the other great American airports,” Neal says, citing Washington Dulles International Airport and Miami International Airport. “What's happening now at Hartsfield has happened 10 times over at other airports. Now it's just finally happening here.”
Come hear Neal reveal more details of the project 7:30 am, Tuesday, April 19 at the Georgia International Convention Center along with an all-star lineup that includes The Jacoby Group's Jim Jacoby, OA Development's Steve Berman, Porsche Cars North America's Joseph Folz and Chick-Fil-A's Vance Burgess. Sign up here.
