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PERIMETER: The Premier Office Market in Metro Atlanta
PCIDs Standard Template; Updated: Oct 03, 2013
EVOLUTION OF THE MARKET
2
Farm Land1960s
I-285Opened 1969
Suburbs/ Perimeter Mall early 1970s
Congested Office District1990s
Livable Center SustainablePlacemaking
THEN & NOW
• Primarily a corporate office, shopping and hotel district
• Disconnected by design
• Heavy traffic congestion
• Few connections and gatewaysacross major highways
• Limited pedestrian mobility
• No ADA-compliant street crossings• Under developed property • Lack of multi-use developments• Insufficient housing to jobs ratio• Large surface parking lots and
“super blocks”
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PERIMETER 30 YEARS AGO…
MOVING FROM SUBURBAN TO URBAN
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MIXED-USE DEVELOPMENTS with significant new housing built on vacant lots & parking lots
Transition of OUTDATED OFFICE PARKS TO RESIDENTIAL
New developments at HIGHER DENSITIES
Implementation of PUBLIC SPACE STANDARDS
(*Source: Wikipedia 2011)
The PCIDs are leading the changes to keep this market strong!
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WHAT IS A CID?
CIDs in Georgia are created by the state legislature and adopted by local governments. They are quasi-governmental and self-taxing for purposes of infrastructure and other improvements in a defined geographic area.
ONLY commercial property owners pay the additional tax millage, not residents.
@ THE CENTER OF SUCCESS: PERIMETER COMMUNITY IMPROVEMENT DISTRICTS
PCIDs work cross-jurisdictionally with
5 local governmental partners (Sandy
Springs, Dunwoody, Brookhaven, DeKalb
County & Fulton County,) as well as state
and federal elected officials and agencies to achieve successful
results.
PCIDs and their partners make a difference in the lives of Perimeter’s workers, residents and visitors through transportation improvements that encourage connectivity and access.
• $236.6 Million in tax revenues to the State of Georgia (2014)
• City of Dunwoody: 63.4% net fiscal impact on budget• City of Sandy Springs: 26.4% net fiscal impact on budget• City of Brookhaven: 7.1% net fiscal impact on budget
CID dollars can only be used for certain purposes as indicated by their individual State Legislation and local agreements.
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THE IMPACT OF THE PCIDs
Source: Balmoral Group 2015
PERIMETER SUBMARKET STATISTICS
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Source: Balmoral Group 2015
• 33 million-square feet of office space
(total square footage comprises all office, office condominium, office loft, office medical, all classes and all sizes and both multi-tenant and single-
tenant buildings including owner-occupied buildings)
• 85% of market space occupied
• 10,458 companies
• 134,650+ employees
• $5.1 billion commercial real estate value
Both small businesses and Fortune 500 Companies call Perimeter home. Companies moving, expanding or renewing in the Central Perimeter market over the last few years include:
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PERIMETER: THE LOCATION OF CHOICE
Sources: Balmoral Group 2015
• Air Watch• AutoTrader.com• Chep• Cox Enterprises• Convergent Resources• Crawford & Company
• First Data Corp.• Focus Brands• IBM• IHG• JAS Forwarding USA• Mercedes Benz USA
• Newell Rubbermaid• Oldcastle• State Farm• T-Mobile• UPS
And many more!
CENTER OF HEALTH & WELLNESS
The Perimeter market offers easy access to some of the nation’s best health care. Major hospitals in Perimeterinclude: Children’s Healthcare of Atlanta at
Scottish Rite Emory/St. Joseph’s Northside Hospital Piedmont Heart Institute
These world-class medical facilities represent a $3.04 billion annual economic impact on the Metro Atlanta region.
9Source: Glenn Pearson, Executive Vice President, Georgia Hospital Association
16 Year History of Leverage
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Source: RCLCO 2009 and Balmoral Group 2015
$41.7 million = CID funds $914.8 million = other resources for transportation infrastructure projects
A Leverage of 22 to 1
$41.7 M
914.8 M
2015+
$31.2 million = CID funds $114.8 million = other resources for transportation and infrastructure projects
A Leverage of 3.6 to 1
$31.2 M
$114.8 M
1999 - 2014
Major Gateway Investments:
Perimeter Center Parkway Bridge
Ashford Dunwoody DDI• Completed in 2012• $5.6 million project• $400,000 from PCIDs• Travel time and gas costs savings = $35.3
million over the life of the project• 29% overall rate of return• 30% rate of return for State’s contribution• 318% rate of return for PCIDs contribution
Hammond Half Diamond• Completed in 2011• $18.6 million project• $6.3 million from PCIDs• Travel time and gas costs savings = $56.5 million over
the life of the project• 15% overall annual rate of return• 21% annual rate of return for the State’s contribution• 32% annual rate of return for PCID’s contribution
Perimeter Center Parkway and Flyover Bridge • Completed in 2008 • Represents first joint LCI and GRTA bond project
collaboratively funded by the ARC’s LCI grant, GRTA’s Bond Program, DeKalb County and PCID’s
• Connects Perimeter market from Perimeter Place to the Medical Center - shopping, dining and lodging
• Pedestrian and bicycle friendly, with features including decorative pavers and landscaped medians
• Award Winning Parkway:o 2008 PEDS Awardo 2010 Engineering
Excellence Award
Improvements include:
The project will provide enhancements to these roadways that improve safety and facilitate better traffic flow to accommodate the high volume of travelers passing through it each day. Those improvements include:• About four miles of improvements beginning
one mile west of Roswell Road and ending just east of Ashford Dunwoody Road on I-285
• Roughly five miles of improvements from just south of the Glenridge Connector north to the Spalding Drive area on SR 400
• Construction of barrier separated collector distributor lanes along I-285 and SR 400 to help reduce weaving, merging and accelerating/decelerating conflict
• Reconstruction of the Abernathy Road interchange
• Replacement of the bridge at Mt. Vernon Highway
• Reconstruction of existing ramps and bridges in the interchange area
• New flyover bridges
What You Can Expect:
• Major construction will begin at the end • of the first quarter of 2017• First major improvement will be the • Mt. Vernon bridge• Access to all properties will be open during
construction• Contractors are required to keep local roads open to
traffic by constructing the work in stages. It is likely that most of the work will be done at night 9:00pm –5:00am.
• Access to GA 400 and I-285, at all interchanges, will be open at peak commute times during construction
• The contractor will be restricted from lane closures on holidays and special events
For updates visit285at400.org
PERIMETER TODAY: CONNECTED
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• Perimeter is fast becoming a model livable center, offering residents and visitors connectivityand choice.
• Access to amenities like transit, shopping, dining and much moremake the market an attractive choice for small businesses and Fortune 500 companies.
• Pedestrian & Bike friendly• Walkable access to 3 MARTA
stations.• 12 business-funded free shuttles
and 13 hotel shuttles to & from MARTA stations.
• More gateway connections underway.
PCIDsBoundary
Central Perimeter Submarket (blue)
M
PERIMETER TRAFFIC OPERATIONS PROGRAM - PTOP
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• 4 year program funded by a $4 million GDOT grant.
• Partnership between PCIDs and the cities of Sandy Springs, Dunwoody and Brookhaven and the counties of DeKalb and Fulton.
• Includes the synchronization of 99 traffic signals within and adjacent to PCIDs to improve traffic congestion in the Perimeter business district.
• Together with the Ashford Dunwoody DDI and the Hammond Half-Diamond Interchange, PTOP helps to mitigate traffic and positively impact commute times.
• The new timing plans pay for themselves approximately every 55.2 workdays.
Traffic Officer Program• Off-duty DeKalb County, Dunwoody, Sandy
Springs and Fulton County officers direct traffic at up to thirteen (8 - Sandy Springs and 5 - Dunwoody) intersections in the Perimeter Business District during high-peak traffic times to help motorists travel safely and with ease.
• Traffic officers keep intersections clear and do not specifically direct traffic against the synchronized signal timing.
• The traffic officers work with our signal timing engineers and regularly communicate back and forth as they notice issues in the district.
• This project is a partnership between PCIDs/MARTA/City of Dunwoody
• Partnership with MARTA will create a state of the art mid-block crossing at Hammond and the Dunwoody MARTA station.
• This mid-block crossing will offer a safer alternative for the pedestrians who are riding MARTA or who are crossing from one shopping/retail/dining area to another across Hammond Drive.
HAMMOND DRIVE AT MARTA MID-BLOCK CROSSING
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PCIDs was awarded a $4 million grant to improve the Lake Hearn @ Peachtree Dunwoody Road Intersection in partnership with the City of Sandy
Springs, SRTA and ARC. Construction on the pedestrian and bike-friendly improvements are currently in the design phase.
PEACHTREE DUNWOODY ROAD @ LAKE HEARN DRIVE
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• 12 Private Office Complex Shuttles – Office Complexes provide direct service to MARTA for their employees and guests at no charge. (Ravinia, Cox, King and Queen, State Farm, Perimeter Summit, etc.)
• 12 Private Hotel Shuttles - provided for guests visiting their hotels here in Perimeter.
• Glenlake/Embassy Row - The partnership to reinstate shuttle service was initially developed by the PCIDs with $30,000 seed money. $ 90,000 annual commitment from Partners: UPS, Kaiser Permanente, Columbia Property Trust, Highwoods Properties, Embassy Row and Newell Rubbermaid. Currently serves 800 - 1,000 on/offs each week ≈ 400 - 500 cars off the road
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PRIVATE SHUTTLES IN PERIMETER
Glenlake ShuttleWINNER: 2011 PACE Award
Most Innovative Program
PCIDs has been awarded funding is to design commuter trails between corporate campusesin the Perimeter community. Ten opportunities have been identified and PCIDs is currently working with partners to prioritize the paths.
The goal of the project is to:o Provide transportation options and improve bicycle and pedestrian
access to MARTAo Offer mobility for non-motorized users within Perimetero Decrease the number of commuter car trips by increasing the utility of
MARTA for Perimeter workers and residents
Commuter Trails Project
• Approximately five acres under Dunwoody MARTA station and adjacent to Perimeter Mall
• Vision is to create sustainable public green space and a signature urban park within the central Perimeter area
• The park will play a vital role in the area’s shift towards becoming a 24 hour market with true live-work--play amenities and more connectivity
PERIMETER PARK @ DUNWOODY MARTA STATION
Walkability
Sidewalks, Crosswalks and Bike Lanes
Perimeter Connects partners with employers and property managers to:
• Raise awareness of commute options• Shift commuter behavior away from
single-occupant vehicles • Help create a more competitive,
economically healthy, and greener Perimeter
The goal of the program is to reduce demand on Central Perimeter roads and highways byencouraging and rewarding:
• Transit use • Ridesharing • Bicycling• Walking • Alternative work arrangements
Perimeter Connects is funded by the Atlanta Regional Commission and PCIDs and is a member agency of Georgia Commute Options.
Perimeter’s Future Walkable
Bikeable
Connected
Thriving Center toLive, Work and Play
Georgia’s Fortune 500 Address of Choice
Thank you for your support!