Developing a Historic Building for Adaptive Re-Use by Flatiron City

DEVELOPING A HISTORIC BUILDING FOR ADAPTIVE RE-USE JANUARY 16, 2019 Arun Nijhawan, Primary Principal, Lucor John Goff, Managing Principal, DaVinci Development Collaborative

TOPICS The Opportunity § The Building § Emerging Trends § A Unique Vision

The Execution § Exterior & Interior Needs § Construction § Overcoming Challenges

Realizing the Vision

THE OPPORTUNITY

A UNIQUE BUILDING ¡ Built in 1897, Atlanta’s

oldest skyscraper

¡ 11-stories ¡ 41,460 square feet ¡ Near GSU, transit, several

parks

¡ Within walking distance

of ~5,000 parking spaces

¡ Located in Atlanta’s

“opportunity zone”

¡ Redefines office space and coworking space

INSPIRED BY EMERGING TRENDS

¡ Stimulates Redevelopment ¡ Restores Historical Integrity ¡ Emphasizes Flexibility and social spaces ¡ Provides financial flexibility to tenants

THE RESULT ¡ Broad Street Boardwalk: wood

deck pedestrian plaza with a variety of activities

¡ Ground Floor: café and lounge

space open to the public for social interaction

¡ Floors 2-11: technology-based

urban chic office space that allows for flexibility

THE RESULT

THE RESULT

THE EXECUTION

A UNIQUE BUILDING: UNIQUE CHALLENGES ¡ Preservation ¡ Costs ¡ Tax Credits ¡ Invest Atlanta Grant ¡ Senior Bank Loans

FLATIRON CITY, ATLANTA

¡ Complete renovation and re-

positioning of a 120 year-old landmark skyscraper into a modern innovation and entrepreneurial center

¡ New market tax credits, historic tax

credits and TAD funding sources

¡ Listed on the National Historic Register ¡ Approved permeable paints

EXTERIOR ISSUES

INTERIOR ISSUES

HISTORIC CORNICE RENOVATIONS

HISTORIC CORNICE RENOVATIONS

EXTERIOR FREEZE RENOVATION: ¡ Replicating Historic Freeze

with Modern Materials

Q&A

A Discussion on Developing a Historic Building for Adaptive Re-use

Arun Nijhawan (anijhawan@lucrorresources.com)

John Goff (jgoff@davinci-dev.com)