Written: March 30, 2017

Plant Vogtle contractor Westinghouse files for bankruptcy

lant Vogtle constructor Westinghouse Electric Co. filed for bankruptcy protection on Wednesday, raising questions about the fate of four half-finished reactors at Vogtle in Georgia and in South Carolina.

The global nuclear construction firm, owned by Toshiba Corp., incurred billions of dollars of cost overruns building the nuclear reactors. The result is a financial disaster that threatens the viability of its Japanese parent. Toshiba said Westinghouse had $9.8 billion in liabilities as of Dec. 31, according to a story in the Wall Street Journal.

Tags: ,

Leave a Reply

Your email address will not be published. Required fields are marked *

Nearly 35 percent of Atlanta area millennials make their homes with parents

Nearly 35 percent of millennials in the Atlanta metro area make their homes with their parents.

A new report from apartment search site Abodo found that 34.6 percent of people ages 18 to 34 are living with their parents in the Atlanta-Sandy Springs-Roswell metropolitan statistical area. That makes the Atlanta metro area one of 16 cities nationwide where the percentage exeeds the national average, 34.1 percent.

Tags: ,

Leave a Reply

Your email address will not be published. Required fields are marked *

Atlanta City Council approves bonds for zoo parking

The Atlanta City Council voted Monday to issue $32.6 million in bonds to finance a 1,000-space, semi-underground parking garage in Grant Park next to Zoo Atlanta.

The revenue bonds will be paid back from the estimated $2 million to $3 million a year in income from the motorists who park there, Jim Beard, the city’s chief financial officer, told council members before the vote.

Tags: ,

Leave a Reply

Your email address will not be published. Required fields are marked *

Georgia Film Academy’s first class: New grads have begun careers in booming movie/TV industry

Georgia is now the No. 3 filming location in the United States, with nearly 250 movies and television shows filming here in the last year. These often required hundreds or even thousands of crew members to make them a reality, and because Georgia’s crew base has yet to catch up to the influx of productions, many of these jobs went to workers flown in from Los Angeles. The Georgia Film Academy is looking to change that.

Last year, the Georgia Film Academy (GFA) was launched by the University System of Georgia and the Technical College System of Georgia to train in-state crew members and keep film jobs in the hands of Georgians. Interest in the academy was incredibly high, with 6,000 showing interest in fewer than 200 spots in the first cohort.

Tags: ,

Leave a Reply

Your email address will not be published. Required fields are marked *

Data center operator Digital Realty plans $22 million Atlanta expansion

Digital Realty Trust Inc. (NYSE: DLR) is bulking up with a $22 million expansion in Atlanta, a major data center hub.

The San Francisco-based data center operator will lease 50,000 square feet at 250 Williams St. in downtown Atlanta. About 18,000 square feet of that will be “raised-floor” space — the area where servers and computers that power a data center are stored.

Tags: ,

Leave a Reply

Your email address will not be published. Required fields are marked *

Buckhead property along future Beltline expansion sold to self-storage developers

For the past few years self-storage has been one of the country’s hottest, albeit least sexy, real estate investments.

So it shouldn’t be that surprising a joint venture paid just over $4 million for a south Buckhead property where it will develop a 120,000-square-foot self-storage building. The location: less than an acre just off Peachtree Road along a future section of the Atlanta Beltline.

Tags: ,

Leave a Reply

Your email address will not be published. Required fields are marked *

Who’s making millions building Mercedes-Benz Stadium?

More than $988 million in contracts have been awarded to companies working on Mercedes-Benz Stadium in downtown Atlanta, a recent report from the Georgia World Congress Center Authority shows.

The contracts awarded to majority-owned companies range from hundreds of thousands to more than $130 million. So which companies got the biggest contracts? They include several joint ventures working on the stadium, a Canadian steel company, a South Carolina concrete company, an Alpharetta, Ga., concrete company, and many others. Check out our slideshow above to see the 25 largest contracts awarded to majority owned companies through January 2017.

Tags: ,

Leave a Reply

Your email address will not be published. Required fields are marked *

Change Healthcare eyes moving HQ to Atlanta

Metro Atlanta could land the headquarters of Nashville, Tenn.’s, largest health IT company — a move that would bring as many as 1,000 jobs.

In June 2016, Nashville-based Change Healthcare announced it would merge with McKesson Technology Solutions, the Alpharetta-based health information technology division of San Francisco-based McKesson Corp. (NYSE: MCK) to create a new company

Tags: ,

Leave a Reply

Your email address will not be published. Required fields are marked *

Details emerge about Centennial Olympic Park makeover

New images and details have emerged of the $25 million renovation now underway at downtown’s Centennial Olympic Park.

Todd Hill, director of the Atlanta office of DTJ Design, which is completing the design of the park, made a presentation to Georgia World Congress Center Authority officials on Feb. 28.

Tags: ,

Leave a Reply

Your email address will not be published. Required fields are marked *

Sandy Springs office development sells for almost $55 million

A Chicago real estate firm just paid $54.7 million for a familiar Sandy Springs office development, signaling continued investor confidence for well located suburban buildings.

Zeller Realty Group acquired One and Two Premier Plaza at 5605 and 5607 Glenridge Drive in Sandy Springs, closing on the deal Feb. 22, according to Fulton County records. Zeller paid about $173 a foot for the buildings.

Tags: ,

Leave a Reply

Your email address will not be published. Required fields are marked *