[Photo] Aerial shot of SkyHouse Luxury Apartment’s future Midtown site

Caleb J. SpivakMiscellaneous, real estate7 Comments

Aerial Photography Inc. captures the location for Novare Group’s planned 23-story apartment high-rise.

Photo courtesy of MikeChase Eaton | Aerial Photography, Inc.

For more of  Eaton’s aerial photography, click here.

Related articles:

  1. Shocker: Novare Group to spend $34 million building 325,600-square-foot Midtown apartment highrise
  2. Architectural feud: Designer challenges Novare to a duel over its proposed Midtown apartment highrise
  3. 23-story ‘SkyHouse Luxury Apartments’ planned for Midtown

 


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Caleb J. Spivak[Photo] Aerial shot of SkyHouse Luxury Apartment’s future Midtown site

7 Comments on “[Photo] Aerial shot of SkyHouse Luxury Apartment’s future Midtown site”

  1. Chris

    The other apartment tower at 12th and Crescent has already started pre-construction. The old bank has been torn down and fences are up. Progress!

  2. Frankly

    This is essentially no longer “planned” as this project has financing and they intend to start construction “immediately”. Immediately meaning as soon as all their ducks are in a row.

  3. Jason Killen

    More garbage design from Novarre. So sad to think that these buildings will be an eyesore on our beautiful skyline for decades to come for the simple reason that we don’t have a city government willing to reign in greedy developers.

  4. HOA666

    Caleb,
    I have been going through Novare hell at Spire for the past 4 years and was really surprised that I just came across your posts.

    Here’s my sob story. As a young professional in 2005, I was lured away from a great job in Washington DC by an even better job in Atlanta. I liked midtown and jumped right in and bought a place at the hot new Spire building. At the time it didn’t bother me that the prior owner of my condo was a realtor who had bought the unit a few months earlier for $30k less. I lived the great life for 2 years and really came to love the area… mean while Novare built 10 condo buildings, each larger than the next, right outside my window.

    Dec 31 2007, I was fired.
    I spent a year looking for a job in Atlanta, while the value of my condo dropped $150k. I left my beautiful girlfriend in my unit at Spire and moved into my parents basement back in DC. After a year of long distance, my girlfriend, now wife, moved up to DC and we got a place together in 2010. We both work tirelessly to afford rent in DC while paying 2 mortgages, $500 HOA, and utilities on my vacant Novare condo.
    Why is my condo vacant? Because the HOA won’t let me rent it!! Does it sound fishy that the Novare dominated HOA has denied me for a hardship leasing permit repeatedly for 2 years while Novare emerges from their grave to once again become Atlanta’s over hyped over levered slum lord? They are building giant apartment buildings to house renters while there are vacant condos right down the street. I think it is fishy. Why does the HOA deny me the ability to lease my condo? Because that’s what the contract written between the HOA, Novare, and three other bankrupt/bailed-out institutions tells the HOA to do. The document says you can only have 25% investors in complex and I wouldn’t be surprised if the slum overlord owned all those units already. So pretty much anyone that bought a Novare condo between 2005 and 2009 has a few options if they have to move out (have children, get divorced, get relocated, hospitalization, etc). Your options are: sell and stroke a check to your mortgage company for 50k-150K, short sell and seriously impair your credit (which in my case can cost me my job), get foreclosed (ruin your credit and have the bank potentially come after your wages), or pay for a vacant condo. Renting out my condo is apparently not an option. According to the condo documents, the HOA can approve hardship rental permits at their complete discretion and an owner might be eligible if they meet two paragraphs of qualifications. I have begged the HOA to give me a hardship rental permit. If I were able to rent my place for two years, my wife and I could save enough money to be able to sell our condo and bring enough to the closing table to avoid defaulting on our mortgage obligations. I have applied numerous times for a hardship leasing permit and asked them to explain the reason for their decision. The only response is “the board has denied your request.” while siting this crazy eligibility requirement from the document. If by some miracle the board were to approve me for a hardship permit, I still would not get my hopes up, because hardships are limited to one year according to them. The few people that are approved hardships have been able to rent their place for only 1 year then they are forced to kick out their tenant.

    This is lunacy and the good people of Atlanta need to wake up and do something about it. These people are ruining the world. Instead of helping the economy by allowing me to rent out the beautiful condo that I own in Atlanta while working in DC, I am going to be forced to default on my loan, ruin my credit, waste taxpayer money, and further traumatize my wife. Some people will argue that the 25% rental cap is for the good of the building, and it’s required to be an FHA approved condo. This is not true. The FHA rental cap is 50%, and foreclosures are way worse for property values than rentals (look around, rentals are the new cool thing), and the FHA waived a lot of the restrictions related to rental maximums in the condo approval process because no good American would want someone to default on their debt just to make money off of their hardship…. unless of course you were an evil empire that has turned from fleecing homeowners to fleecing renters.

  5. Urbane Optomist

    HOA666-

    First, let me say that I empathize with your predicament. You’re not the only person to get caught up in this trap. However, as a former board member of a very well run HOA in Midtown I can say that there are very good reasons to cap rentals at 25%, chief aong them being that it reduces the value of the other properties in the building. The harsh reality is that you made an investment, and all investments have risk. You’re experiencing that downside right now, but another owner in your building doesn’t care because he is looking out for the value of his investment. That being said, Novarre are scurrilous and inept developers. You obviously qualify for hardship. My suggestion to you is to get a lawyer. Threaten them with a lawsuit and thy may budge so as to not incur legal costs.

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