📡 The Julio Jones Mall. Jones is the principle investor in new retail/housing project.

[BAMANEWSBOT]

A CLOSER LOOK AT WHAT JULIO JONES’ MALL OF GEORGIA PROJECT WILL OFFER

By now, surely you’ve heard that Julio Jones, the Atlanta Falcons’ superstar wide receiver, is a principal investor in a massive mixed-use project planned next door to the Mall of Georgia.

And you probably saw that earlier this week, Jones announced the name of the $200 million project: “Ariston,” which is Greek for “the best.”

You also know the basics of what the development would bring: hotel, condos, hundreds of apartments, lots of retail and a family entertainment center. Chef-inspired restaurants, direct access to the nearby Ivy Creek Greenway and 400 to 600 jobs are promised.

But how about a few more smidgens of specificity?

The development will actually be broken into four different “districts,” developer Ivy Creek Partners said. Find below a quick look at what those districts are and what they’re expected to include.

“Warehouse District 1” would include:

• 205 multi-family units
• 22,382 square feet of street-level retail
• 373 parking spaces

“Warehouse District 2”:

• 292 multi-family units
• 23,603 square feet of street-level retail
• 510 parking spaces

“Industrial District”:

• 50,050 square-foot family entertainment center
• 28,100 square-foot grocery store
• 20,336 square feet of other retail
• 55,299 square feet of office space
• 22 multi-family units
• 623 parking spaces

“Contemporary District”:

• 25-story building would be Gwinnett County’s tallest
• 14 floors dedicated to hotel space
• 7 floors of condo units
• 22 multi-family units
• 26,964 square feet of street-level retail
• 9,927 square feet of office space
• 366 parking spaces

Source:
Tyler Estep | ajc.com | March 24, 201

TAGS2017, A

A closer look at what Julio Jones’ Mall of Georgia project will offer

 

[JoshB]

Good lord Julio is going to end up a damn billionaire before its all said and done.

 

[TerryP]

An anchor store, or two, and lord knows the possibilities.

 

[JoshB]

I remember reading that the first thing Julio did when he got his first endorsement after declaring for the draft (I want to say Underarmour maybe) was get himself a financial adviser. Smart man.

 

[OldPlayer]

I hope it works for him but it's risky. There aren't too many white collar businesses up there and there is already a ton of retail. It's WAY outside of Atlanta so there won't be too many people looking for a convenience meal.

 

[No Huddle]

I hope it works for him but it's risky. There aren't too many white collar businesses up there and there is already a ton of retail. It's WAY outside of Atlanta so there won't be too many people looking for a convenience meal.

No clue what you are talking about. I live 5 minutes from there. Place is loaded with people and they have money to spend.

 

[planomateo]

Not sure about you guys, but most of my shopping has moved to online.

http://mashable.com/2017/03/09/amazon-isnt-entirely-to-blame-for-retail-wreckage/

 

[TerryP]

... I live 5 minutes from there. Place is loaded with people and they have money to spend.

That's what I was thinking. The Mall of Georgia has quite a few "high end" stores as I recall and that's not to mention some pretty stable anchor stores.

 

[TerryP]

Not sure about you guys, but most of my shopping has moved to online.

If you look at the "Industrial district" in that article there's roughly 15% of the square footage that's designated towards retail. How many are shopping online for grocery items?

It's a real mixed bag as I see it, Matt. Studies show how many people shop online, but few get into what they are buying online. I really can't use my own life as a comparison or even to get a clue what people do with their spending habits. I'm not one to buy shoes online unless I've had that specific pair before. Tools? Hell yeah! Electronics? The same. Clothes? Meh.

 

[JoshB]

Not sure about you guys, but most of my shopping has moved to online.

http://mashable.com/2017/03/09/amazon-isnt-entirely-to-blame-for-retail-wreckage/

Same here but Amazon starting to do sales tax is really going to hurt them.

 

[TerryP]

Same here but Amazon starting to do sales tax is really going to hurt them.

What are you saying? You didn't pay sales tax when you did your income tax in April? :shock:

 

[planomateo]

Been paying sales tax on Amazon purchases for almost 5 years in Texas, the vast majority of Amazon customers are already paying sales tax.

I'll shop their prices elsewhere, but most of the time they get my business.

List of states that are soon to be paying sales tax on Amazon purchase or just recently started:

• Hawaii (effective April 1, according to CNBC)
• Idaho (effective April 1)
• Maine (effective April 1)
• New Mexico (effective April 1)
• Oklahoma (March)
• Wyoming (March)
• Mississippi (February)
• Missouri (February)
• Rhode Island (February)
• South Dakota (February)
• Vermont (February)
• Iowa (January)
• Louisiana (January)
• Nebraska (January)
• Utah (January)

 

[It Takes Eleven]

Going into retail is risky, but it looks like much of the initial retail space will likely just be in the outfacing first floors of the multifamily buildings. Multifamily, in general, is a little frothy and a good number of lenders have backed away from it, but this is indeed a good location. I'd be interested to know if they have announced who the lender will be on the project. Due to where we are in the cycle, many of these deals have left the banking sector, carrying higher interest rates. I'm guessing the multifamily will go up first instead of trying to tackle it all at once. If so, I'll be surprised if the tower, entertainment and office space segment is ever built.

RTR,

Tim

 

[OldPlayer]

No clue what you are talking about. I live 5 minutes from there. Place is loaded with people and they have money to spend.

There can be "too much" shopping. At some point, it impacts the other stores in the area. Traffic becomes unmanageable. When it does, the stores start to close. When stores start to close, more start to close (drawn from one shopping area to another and not enough reason to go back). Businesses don't want to move there due to the high volume of traffic (it impacts the daily commute, lunch hours and clients getting to the office). I've helped retailers and restaurants with their site location strategies and while activity can be good, it can also be a curse.

 

[BamaFan334]

Say what you want, but it's a risky investment. All retail is risky. Big companies fall and small ones do as well. That area has some money, and will be wildly popular at first as anything new is, but you have to calculate five years down the road. That area is not building like it used to and folks are moving out further and further. With the traffic that is already horrendous in Atlanta, it'll wear on folks. Yes, that traffic means anywhere 40 miles around Atlanta too.

I used to be a big mall guy, because you can get a lot of different things in one spot, but I haven't been to a mall in over two years. One reason is current location, two is the type of people you're seeing at malls, and the brand and quality of the stores. Macy's isn't what it used to be, college sports stores are fewer and farther between, and I just don't see the deals I was accustomed to seeing. I initially thought the Atlanta Braves new stadium idea was cool, but once I actually went I thought the bars were cool, but just realized it was a jumbled mess, where they built more buildings and less parking, and it's just not a place easy to take three young kids and not worry about someone getting lost in the people traffic that aren't necessarily there for the game.

I wish him all the best, and it wouldn't shock me to see him on the ground floor and then sell his portion to the bigger investors for a quick profit early after completion.

 

[It Takes Eleven]

@BamaFan334 , bringing this thread back to life made me go check:

Julio Jones’ Mall of Georgia project may be scaled back significantly

Scaled down version has no tower, no parking deck, no entertainment center, multifamily scaled from 541 to 285 units, 25-story hotel tower out, now a four story hotel.

RTR,

Tim

 

[OldPlayer]

That area is flooded with retail, restaurants and auto dealerships. There's a limit to how much is enough. While there may be people nearby who spend, having to move from shopping center to shopping center causes additional traffic and makes the shopping experience painful.