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September 6, 2023

Centennial Yards Office Put 'On Ice' As Demand Collapses
Join Selig Enterprises Chief Investment Officer Matt Rendle On Oct. 26

CIM Group is changing tack at Centennial Yards, its $5B development in Downtown Atlanta, delaying plans to build a new office tower and pivoting away from office at an existing building on the site.

Centennial Yards Office Put 'On Ice' As Demand Collapses

Centennial Yards Co., the development arm of CIM Group that is transforming the Gulch into a sprawling mixed-use campus, had planned to raze the former Atlanta Journal-Constitution printing press building attached to 2 City Plaza and erect a 520K SF office…

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This Week's Atlanta Deal Sheet: Hyundai, LG Solidify $4.3B Savannah Battery Plant

Hyundai Motor Group and its partner LG Energy Solutions finalized a $2B investment in Hyundai's new electric vehicle battery plant outside Savannah, solidifying a previously reported $4.3B price tag for the facility.

This Week's Atlanta Deal Sheet: Hyundai, LG Solidify $4.3B Savannah Battery Plant

The total investment in the Metaplant in Bryan County was confirmed Thursday in a press release from Gov. Brian Kemp. The 30 gigawatt-per-hour plant is expected to produce 300,000 units each year for electric vehicles produced by Hyundai, Kia and Genesis.Hyundai and LG agreed to an additional $2B to invest…

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Underground Atlanta Owner Plans Resi Conversion Of 30-Story Downtown Office Tower

Lalani Ventures, the owner of Underground Atlanta, is planning to pursue a major redevelopment of 34 Peachtree St., a 300K SF office tower two blocks from its signature property.

Underground Atlanta Owner Plans Resi Conversion Of 30-Story Downtown Office Tower

Lalani Ventures CEO Shaneel Lalani is planning to convert 20 floors of office space in the 30-story building into 200 apartment units, he told Bisnow.“Sometime next year we should start construction, depending on if the financing markets are getting better and stabilized,”…

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‘Adaptation Cost Of Anguish’: How Extreme Heat Is Slowing Down Construction
‘Adaptation Cost Of Anguish’: How Extreme Heat Is Slowing Down Construction  

The construction industry has pushed to adapt to extreme heat, but this summer has shown it can’t avoid the trade-offs of rising temperatures.

Firms have made investments to ensure worker safety and comfort while keeping projects moving during heat waves, but worker reps and experts studying heat impacts say decreased productivity will be a given going forward during an era of increasingly hot summers.

“I don’t have exact dollar amounts or time, but anybody who says this isn’t impacting them I would say is lying,” RSM construction analyst Nick Grandy said.

During extreme heat, construction activities involving physical work on average take 36% longer to execute, according to an exclusive analysis for Bisnow by nPlan, a British construction analytics and software firm that draws from a dataset of 750,000 projects from English-speaking countries around the world. “The question comes down to the human element,” said Jimmy Williams,…

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