I just wanted to give y'all a brief update on the status of the Opus development at Piedmont and Cheshire Bridge. First, as some of you may have heard, Alliance and Opus parted ways a few months ago. Opus is now the sole developer for the site. Due to economic conditions, Opus has been taking a look at their projects nationally, including the one here, for their viability in the current market. Opus has decided to move forward with the Piedmont/Cheshire Bridge project as planned. And per the rezoning requirements, they will be following the conditions we negotiated.
Jeff Royce is the new project manager for Opus South. I spoke with him a few days ago. They are still on schedule to close on the property as planned by the end of this year. They anticipate beginning construction in the first quarter of next year. The construction timing is somewhat tied to their ability to get favorable financing, but as of late last week, Jeff was feeling good about the terms they could get. He and I will be staying in touch and will schedule a meeting with the neighborhood group as we get closer to construction.
I understand the current property owner has given tenants until the end of October to vacate. He would be responsible for maintaining the property and keeping vagrants away until closing with Opus. Jeff has already assured me Opus will take immediate responsibility in that regard once they own the property.
3 comments:
With Opus closing its office here in Atlanta and the development/leasing signs coming down at the site, is this deal now dead? Does anyone know?
Why doesn't someone post an update about what a Shithole this place has become. The deal took to long to please every last person in the room and now look what you have on your hands. Vagrants are sleeping there and dumping is out of control. Opus wanted to do a first class deal and was upset to loose it. Now you may end up with a gas station. Oh well, goes good with the crack hotel I guess... Prostitutes and drug dealers don't matter to Morningside?
Perhaps something better than an Opus South cookie cutter suburban development will happen now that things have cooled off in the development world.
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