Archive for the category: Development News

Atlanta is seen as a favorite for Amazon HQ2 given its low cost of living and strong talent pool.

Jan. 29, 2018

The race is still on for the Amazon HQ2 project — a potential $5 billion construction bonanza that would bring 50,000 jobs. After 238 cities and regions in 54 locations (US and Toronto) submitted bids, Amazon recently announced the short list of 20 cities still in the running.

Before we get to the finalists, let’s take a look at some contrarian views coming out:

It’s all a sham, as the Washington, D.C. area (which has 3 finalists) has already been chosen, according to a recent Bisnow story.  The story points to Amazon founder Jeff Bezos’ new mega-mansion in the area as the critical link to those sites. Executives do like to live near their offices, after all.

Others say it could all be a publicity stunt by Amazon. Look at all the good publicity and the scramble by government officials to appease Amazon.com. See more on that at axios.com.

Time will tell where the Amazon HQ2 goes and what the motivates are. Meantime, the official list of contenders includes Atlanta, Austin, Boston, Chicago, Columbus, Dallas, Denver, Indianapolis, L.A., …and several others. Here are a few snapshots of those that made the cut:

Atlanta

This southern city with $5.8M residents is considered a top contender due to its cost of living, strong talent pool and access to the world’s busiest airport. Traffic was cited as one negative issue, however.

This is how a Chicago Amazon HQ2 might look. Image from Goettsch Partners.

Chicago

Chicago made the cut and here’s what is pushing the city ahead, according to this Bisnow story. The proposal included 10 sites, many with large land areas for development. From Lincoln Yards to the old Michael Reese Hospital site to 700 W. Chicago (pictured here), the city proposal includes many land masses.

The incentives package included about $2B. One frontrunner, according to the story, is the old Chicago Tribune printing plant in River West, as it would connect downtown, River North, the Fulton Market and other neighborhoods.

Dallas

Dallas and Fort Worth are gaining attention for their strong supply of tech talent. And, the cost of living is much lower than other tech hubs, such as New York or San Francisco.

Columbus and Nashville are in, but neither has a major airports, which seems like a liability.

For a detailed look at which cities made the list — and why — see this money.com story.

Real estate and tech talent are key for Amazon in its HQ search.

October 2017

The commercial real estate industry is abuzz as bids were submitted for the hometown of Amazon’s HQ2, a 50,000-employee, $5 billion second headquarters. With more than 50 cities in the U.S. and Canada vying for the company’s attention, competition is fierce, with some cities getting creative to make their case.

According to this Bisnow article, Tucson, Arizona, sent Amazon a 21-foot cactus to remind the company of the city’s growth and resiliency while Stonecrest, Georgia, offered to change its name to Amazon.

Where’s the Best Real Estate and Tech Talent?

While the right commercial real estate is important, Amazon is looking for a city that will attract young talent, a city with good connectivity, and a city that will offer tax incentives. Along with those requirements, the company will potentially bring 50,000 people, along with their spouses and children, to the city, raising the need for housing, schools and retail—and hoping the city can keep up. Here’s a recap of some of the pitches:

Atlanta

Atlanta is pitching several sites including real estate along the Atlanta Beltline, GID’s High Street site in the Central Perimeter, the Gulch in downtown Atlanta, Integral Development’s Assembly Project, the former GM plant in Doraville and the redevelopment of Fort McPherson.

Baltimore feels that its Port Covington, home to UnderArmor’s headquarters on Sagamore Development’s property, is a good choice for Amazon, especially as it may see a transit stop in the near future. And, several Bay Area cities have teamed up to put in a bid for the 5,000-acre Concord Naval Weapons Station, which is within 45 minutes of an airport, has two nearby BART stations and convenient highway access. Also:

• Boston has proposed its Seaport neighborhood as the Amazon HQ2 site and has committed to building a $100 million cable-operated gondola system to shuttle Amazon employees to work.
• Brooklyn real estate developers are highlighting their neighborhood’s tech talent and proposing Industry City, a massive complex of former industrial buildings, for the project, which will eventually need to be 8 million square feet. 

Could Chicago land Amazon?

In the Midwest, Chicago’s Old Main Post Office is currently the largest redevelopment in the U.S. at 2.8 million square feet and offers 250,000 square foot floor plates just steps from the Loop. Here’s more on that Amazon proposal.

And, if the U.S. sites are not the answer, Amazon can always go a little north. Teaming up with its Canadian neighbor, Windsor, Ontario could mean an international headquarters in Detroit.

Which city the internet retail giant will choose will remain a mystery for a while longer, but the promise of such a major real estate development has brought out each city’s competitive side over the past several months.