Written: May 18, 2017

Atlanta developer Stan Thomas files bankruptcy for Tennessee project

The Atlanta-based owner of half of the massive Ovation development in Cool Springs, Tenn., filed for bankruptcy protection hours before the property was set to be sold at auction.

The May 17 bankruptcy filing had the desired effect, canceling a foreclosure sale that was scheduled for noon today on the steps of the Williamson County Judicial Center in downtown Franklin. It would have been a dramatic twist for a high-profile project more than four years in the making, one that aims to create an urban mixed-use environment in the region’s longtime suburban corporate headquarters hub. Ovation, which will cost more than $1 billion to build, is planned to include up to 1.4 million square feet of office space — including the new headquarters for Mars Petcare U.S. Inc., one of the county’s largest employers — as well as 480,000 square feet of retail, restaurants and entertainment space; 950 residential units; and 450 hotel rooms.

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73-townhome development proposed in Brookhaven

A 54-year-old apartment complex just off Buford Highway in Brookhaven could make way for a brand new townhome development.

The Ardent Companies LLC is proposing to redevelop the Park Villa Apartment complex at 2069 Coosawattee Drive in Brookhaven into 73 townhomes. The developer says in a filing with the city of Brookhaven that the 92 existing rental units, built in 1963 and occupying 6.3 acres in the northeast quadrant of the intersection of Coosawattee Drive and Cliff Valley Way, are functionally obsolete.

The new townhomes would be three stories with facades of brick, stone or siding, and contain 2,200 to 2,800 square feet and have two-car garages.

The project is scheduled to go before the city of Brookhaven’s zoning board of appeals on May 17.

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Nearly 50,000 pack ​Centennial Olympic Park in Atlanta for Shaky Knees Music Festival

Nearly 50,000 Rock music fans packed Centennial Olympic Park for the fifth annual Shaky Knees Music Festival just one week after about 46,000 dance music fans descended on the park for the second annual Shaky Beats Music Festival.

The festival featured headliners The xx, LCD Soundsystem and Phoenix with support from Cage The Elephant, Pixies, The Shins, Nick Murphy, X Ambassadors, Third Eye Blind and Portugal. The Man. In total, more than 60 bands performed on three stages over the course of the three-day rock music festival.

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Rebuilt I-85 bridge to open by Monday morning

The rebuilt Interstate 85 bridge over Piedmont Road will reopen to traffic in time for the morning commute on Monday or even sooner, a full month ahead of the original schedule, Gov. Nathan Deal announced Wednesday.

The bridge collapsed March 30 when a fire broke out in construction materials stored below the bridge. Since then, motorists have been forced to detour around one of the most heavily traveled highways in metro Atlanta.

Originally, state Department of Transportation officials said the bridge couldn’t be rebuilt before mid-June. But the project was fast-tracked to a 24-7 job and chief contractor C.W. Matthews Contracting Co. Inc. was offered up to $3.1 million in incentives to speed up the work, which will allow it to be done in just six weeks.

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Country singer Alan Jackson selling Lake Burton estate for $6.4 million

Country singer Alan Jackson is selling his Lake Burton estate for $6.4 million.

The 7,687-square-foot, lake-front property has five beds and nine bathrooms, according to the listing. It also comes with a two-story boathouse.

“Extraordinary design, materials and craftsmanship define this prominent Lake Burton estate home located on a 1.2-acre manicured lot with majestic mountain, lake and sunset views,” says the listing. Julie Barnett with Harry Norman Realtors is the listing agent.

Jackson, famous for songs such as “Chattahoochee,” is just one celebrity who has called Lake Burton home.

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Lenox Square cancels July 4th fireworks, partners with Centennial Olympic Park

After 57 years of hosting one of the Southeast’s largest light shows, Buckhead’s Lenox Square has canceled its annual July 4th fireworks celebration, mall owner Simon Property Group said Wednesday.

Instead, it will partner with Centennial Olympic Park to deliver the “best fireworks show in Atlanta,” according to a media release.

“By partnering with Centennial Olympic Park, which is only nine miles away, we can deliver an even better experience for everyone involved and provide much needed operational relief to the city of Atlanta during a very busy holiday,” Robin Suggs, general manager of Lenox Square, said in a statement.

Jennifer LeMaster, chief administrative officer for the Georgia World Congress Center Authority, the state agency that oversees Centennial Olympic Park, said Lenox Square will provide a “generous donation” for the fireworks celebration in downtown.

“We look forward to sharing some of the recent – and ongoing – revitalization efforts in downtown Atlanta and helping them celebrate Independence Day this year in the heart of Atlanta,” LeMaster said.

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India-based tire maker Apollo moving North America HQ to Atlanta

India-based tire maker Apollo Tyres Ltd. is moving its North American headquarters to Atlanta as the company launches a U.S. expansion.

Apollo is the world’s 17th-largest tire maker. It recently opened a new plant in Hungary as it expands in Europe.

Apollo’s vice chairman recently stated that “The U.S. plays a real important part for us in our growth strategy,” Rubber & Plastics News reports. “Given now that we have two domestic markets, which is largely Europe and India, our next stop has to be the U.S.” Apollo exec Steven Smidlein has been working to lay the foundation for the company’s U.S. expansion, the publication says.

The Atlanta headquarters will be at 1175 Peachtree in Midtown, TireReview.com reports. Read more here. It will initially have five employees but will grow as the company expands in the United States, Rubber & Plastics News reports. Read the full story here.

 

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Jones, Ryan, trail NFL stars in merchandise sales

The Atlanta Falcons may have come within an eyelash of winning their first Super Bowl, but they have a way to go to the top of the National Football Leaguewhen it comes to player merchandise sales.

The Falcons placed only two players on the newest NFL Players Association Top 50 Players Sales List, which tracks sales of officially licensed NFL player merchandise. Both ranked in the middle of the pack.

Wide receiver Julio Jones was the top Falcons player on the list at No. 20, while the NFL’s Most Valuable Player, quarterback Matt Ryan, came in at No. 32.

Dallas Cowboys running back Ezekiel Elliott topped the list, the first rookie to do so. Dallas Cowboys quarterback Dak Prescott was second.

Super Bowl-winning quarterback Tom Brady of the New England Patriots came in at No. 3, with another Cowboy — Dez Bryant — ranking fourth, and the New York Giants’ Odell Beckham Jr. rounding out the Top 5.

Nineteen quarterbacks are on the list, six in the top 10. Following Prescott and Brady are Russell Wilson of the Seattle Seahawks (No. 6), Philadelphia Eagles rookie Carson Wentz (No. 7), Aaron Rodgers of the Green Bay Packers (No. 8), and Cam Newton of the Carolina Panthers (No. 10).

Jones and Ryan actually ranked within the Top 10 in apparel sales. Wentz and Ryan trailed only Brady in plush doll sales.

The list tracks year-end results from March 1, 2016 through February 28, 2017

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Duke Realty selling its medical office buildings, including 11 in Georgia, for $2.8B

Healthcare Trust of America Inc. (NYSE: HTA) and Duke Realty Corp. (NYSE: DRE) announced a blockbuster deal Monday morning in which Healthcare Trust of America will buy Duke’s entire portfolio of medical office buildings, including 11 in Georgia, for $2.8 billion.

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Omni acquires full ownership of CNN Center hotel, buys out Time Warner

Hospitality giant Omni Hotels & Resorts said Thursday it has acquired full ownership of downtown’s 1,059-room Omni Atlanta Hotel at CNN Center from Time Warner Inc. (NYSE: TWX), which had a 50 percent stake in the property.

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