Thursday, Aug. 25, 2016    Login | Register        
Home / Fayette County / Peachtree City / Loft living plan goes before PTC Council

Loft living plan goes before PTC Council

Wed, 08/17/2016 - 4:01pm Ben Nelms
Dar Thompson’s residential and retail proposal at Lexington Circle will finally be heard Aug. 18 by the Peachtree City Council.
The City Council will hold a public hearing on a rezoning request for the Lexington Circle Lofts and Retail development proposed by fitness business owner Dar Thompson. He also developed the Sprouts Farmers Market project in the same area.
The proposal to construct a four-story retail and residential building with approximately 75 condo units received an unfavorable response by the Peachtree City Planning Commission in June.
Thompson is proposing 72-78 residential units ranging from 1,200-1,800 sq. ft. All units will be for sale, he said, adding that the average price of a fee simple condo in the $22-24 million project would be $379,000 and would include on-site concierge services.
The council on Aug. 18 will also consider an amendment to the ethics ordinance. If adopted, the amendment would carry the potential for a person filing a complaint subsequently judged to be frivolous to reimburse the city for the expenses incurred.
The amendment would not mandate reimbursement but would provide the council with the ability to impose such a requirement.
The council earlier this month approved and accepted the findings of the hearing officer who ruled that an ethics complaint by John Dufresne against City Councilman Mike King was unjustified, frivolous and patently unfounded.
Location: 
Peachtree City

Comments

Husband and Fat... wrote on Wed, 08/17/2016 - 4:27pm
According to the Planning Committee Meeting Minutes, this project is being financed by the Federal Housing Administration.  See meeting minutes below (page 11 about half way down the page)   http://vault.peachtree-city.org/WebLink7/DocView.aspx?id=34458&dbid=0   I don't know anything about FHA loans.  But anytime I see this designation, I can't help but wonder what great caveats are inside. Was the Sprouts development financed this way?  Is there anyone more educated on this that can explain any issues that might not have been shared.  Anyone, Anyone.
dar thompson wrote on Wed, 08/17/2016 - 5:43pm
Wrong-This project is not being financed by the FHA. The project will be financed by private money. I think the confusion regarding the FHA component is the individual purchasing a loft unit could obtain FHA financing to purchase their home.    
Husband and Fat... wrote on Wed, 08/17/2016 - 6:13pm
 It might be smart to correct this at tomorrow's meeting  because the planning commission meeting minutes might be incorrect.    If there is an FH a loan,  I think it's fair that the public be educated on any possible requirements
DougTucker wrote on Wed, 08/17/2016 - 6:53pm
Thanks Mr. Thompson.  I thought you were selling and not renting residential apartments at the "Loft," but the Planning Commission's notes were a bit vague to me.  I still like the idea and can easily see where it is a desireable place to reside.  I agree with HF2, you may want to clarify you are not applying for FHA loan insurance. 
dar thompson wrote on Wed, 08/17/2016 - 8:27pm
I am...all units are for sale...they are not rental units.
moelarrycurly wrote on Wed, 08/17/2016 - 8:44pm
Mudkitty   You said you want one.  You gonna buy and then rent it out?  How many investors you estimate will be doing that?
mudcat's picture
mudcat wrote on Wed, 08/17/2016 - 10:17pm
Pretty high rent, dude                                                                     To support a $370k purchase price and a very high (probably $500/mo.) condo fee plus another $4k in real estate taxes, the rent would be like $5k per month. Can't see it unless you furnish it and go for the movie-making crowd.                                                                                 Dar knows what he is doing and he can handle rentals and cap them at 10% and ban pick up trucks and campers in the condo documents - just like they do at Ridgelake and other places.                                                                                Darn right I will buy one and live there. Love the idea. City council votes tomorrow night. Hope they get this passed. Pretty silly not to finish off Lexington Circle properly instead getting some more unwanted retail like that mess behind the Chick-fil-A on Hwy 54 west. That was a Haddix fumble. Hope Vanessa doesn't want to duplicate that. Come on Vanessa, lead by example. Get these lofts approved.                      
SPQR's picture
SPQR wrote on Wed, 08/17/2016 - 10:58pm
MLC                                            You were reading my mind. Lexington Park (the little Bob Adams Neighborhood) covenants prohibits rentals thanks to one of the original HOA's .( thanks Bruce) Mr Dar needs s to go that route for creditability
moelarrycurly wrote on Thu, 08/18/2016 - 12:29pm
spqr   Sounds good to me!  That Bob Adams guy sure took a lot of shortcuts to get his homes to fit in those tiny lots all over the city.  All sorts of utility issues will be surfacing over the years to come.
dar thompson wrote on Thu, 08/18/2016 - 6:49am
If I buy one it will be for my personal use...no rental. A place to hang-out on the weekends.
dar thompson wrote on Thu, 08/18/2016 - 6:55am
If I buy one....it will be for my personal use. A little get-a-way for  day or two.
JessieJames1847's picture
JessieJames1847 wrote on Thu, 08/18/2016 - 7:41am
If I buy one... I will have lost my mind AND robbed a Bank ... Good luck to ya Dar with the City !  BTW Dar did you catch the Fox Business Channel report yesterday (noon hour) about Retirement Living choices have changed ,,most (that planned outside of SS) are seeking Condo's, Lofts, etc places with amenities such as you described. I thought the story was an excellently reported "Sales Pitch" to city Councils ,,,,
dar thompson wrote on Thu, 08/18/2016 - 7:47am
Thank You for the support, as well as the information.
mudcat's picture
mudcat wrote on Wed, 08/17/2016 - 7:48pm
"I don't know anything"                                                                         about FHA loans. Words to live by. Don't comment unless you do know. The FHA is a mighty fine government agency that insures home loans made by local lenders and they help more people get into housing that they can actually afford and pay for than Jessee Jackson and Al Shapton do together. No need to worry Husbnad and Fat, the few people that use these loans will not be Section 8 deadbeats. Sprouts is a grocery store - financed in an entirely different manner. Reasearch dude - do some research.                                                                                                           They should be voting on the Lofts at Lexington in about 24 hours and I can't see one single reason why a thinking person on council or in the community would oppose the mighty fine project. Weigh the extra 30 or so residential units against the 48,000 square feet of commercial that would happen without the lofts - Duh!
Husband and Fat... wrote on Wed, 08/17/2016 - 9:13pm
Mudnut,  if you had researched, you would see that Mr. Thompson was quoted in the meeting minutes that this is FHA financed.  Is this accurate or not?  The minutes further go on to say that the FHA allows so many subleases.  There are legit questions here.  I don't think the FHA (Obamas Federal) lending arm is going to let developers make money without some sort of socialistic "improvements" to a community.   The development may be the next best thing since toilet paper, but if there are caveats on subleases, what other caveats could there be, if this is true?  Inquisitive minds want to understand this.  
dar thompson wrote on Thu, 08/18/2016 - 7:09am
Mudcat-Get this...in theory a 3 story plus basement (below grade lobby) 200 room +/- extended stay hotel could go on this site. This could happen under the current zoning. One of the new-model 30,000SF Lowes could go on this site. You are 100% correct...based on any and all the alternatives that can and will go on this property, the city has been handed a gift with this Loft project. One would think that the city or Development Authority would be begging companies to come to PTC and build this product, instead it is already here and there are some who want to make this complicated. It really makes you wonder. In the same vein of your remarks...this is a no-brainer.  
Spyglass wrote on Thu, 08/18/2016 - 8:49am
Steve, you are smarter than this...
Husband and Fat... wrote on Thu, 08/18/2016 - 9:11am
Did you read the meeting minutes?  What does it say?  Educate me smarty pants.
Spyglass wrote on Thu, 08/18/2016 - 9:55am
You admit above to knowing nothing about it...educate yourself and get back to us. 
Husband and Fat... wrote on Thu, 08/18/2016 - 10:22am
So, admit it.  You didn't read the minutes and couldn't explain it either. 
DougTucker wrote on Wed, 08/17/2016 - 5:07pm
HF2, Maybe this reflects your thoughts:  HUD FHA Section 221(d)(4) Construction Loan for Multifamily Properties Program Guidelines Eligible Properties The 221(d)(4) (for profit) and 221(d)(3) (non-profit) programs provide loans for the construction or rehabilitation of detached, semidetached, row, walkup, or elevator-type rental or cooperative housing containing 5 or more units. Independent living facilities may qualify as long as all services are optional and fees from services and meals are not included in underwritten rents. The program is available for market rate rental housing or for properties accepting rental assistance, either tenant based or project based. Commercial space permitted up to 10% of gross rentable square feet and a maximum of 15% of gross rental income. HUD FHA 221 (d)(3) In 2013, HUD has suspended the Section 221(d)(3) program unless the subject property receives Low Income Housing Tax Credits (LIHTC). Without LIHTC the program would require positive credit subsidy which is Congressionally appropriated and higher Mortgage Insurance Premiums (MIP).
moelarrycurly wrote on Wed, 08/17/2016 - 5:43pm
Ginza on the docket at Lexington, too.  Is this the same Ginza or a different outfit, anyone know?  Do we have enough Japanese and chicken places yet, anyone know?     
dar thompson wrote on Wed, 08/17/2016 - 8:23pm
Not me...I assume it is a product going into the Sprouts retail center. Understand, that is just an assumption.
SPQR's picture
SPQR wrote on Thu, 08/18/2016 - 5:16pm
MLC                                              There's going to be a Chick Filet Express on the North corner
moelarrycurly wrote on Thu, 08/18/2016 - 7:08pm
SPQR   No kidding....hey my internet Comcrap is out from the storm.  Eta 9:30pm.  My tv Comcrap was out for 3 days till yesterday when they got one of those overpaid and overrated techs out to change the box that died.  Last week their tv remote quit volume controlling.      The cart path on McIntosh Trail near The Fred is flooded...looks like a blocked storm drain...   Someone fill me in on Dar's project later, please.  I am going to medicate myself.      
DougTucker wrote on Thu, 08/18/2016 - 7:16pm
Recommend you partake of a stout adult beverage, sit on the porch, and enjoy the cooler temperatores.  Have fun.  There's nothing going on but the PTC City Council meeting tonight,
moelarrycurly wrote on Thu, 08/18/2016 - 7:31pm
Sounds like a plan.  Ryan Lochte is a toad if he lied.  Another ugly American story for the world to see. Oh, and Rio is a sewer.  The only thing ever good to come out of there?  Gisele Bundjen, whatever, Tommy Brady's wife.  Go Tom and the Pats tonight, who cares if it doesn't count. Goodell is a bigger toad.    
SPQR's picture
SPQR wrote on Thu, 08/18/2016 - 7:28pm
MLC                      Yes a Chick Filet Express. A jewish family got the franchise so it will be closed on Saturday but open on Sunday.  A deal they made with the feds                                                            
moelarrycurly wrote on Thu, 08/18/2016 - 8:56pm
Spqr Jews you say?  No bakery, no bagels?  Well, just fuggedaboudit.  Saturday is good.  One day a week should br standard for everyone.  Sounds like Obummer was involved....hmmmm.
SPQR's picture
SPQR wrote on Thu, 08/18/2016 - 9:40pm
MLC                       actually there was going to be an Einstein’s deli. But guess it was just a hopeful rumor
moelarrycurly wrote on Thu, 08/18/2016 - 11:52pm
SPQR   My trusty cable is back, I saw the Dar vote.  Congrats, Dar.  When you have the grand opening up on the roof deck, I will sneak up there so I can hurl marbles over to the governors.  I am going to invite everyone I know to bring their doggies over to walk up and down the sidewalk and leave them all a gift.  No owners with them, just the doggies.  After a big feast of kibbles and bits.   However, looks like an unnecessary challenge is coming from those 3 out back.  What about downzoning do you not understand folks?  And Prebes, great point about the big garages out back.  For a rookie, you done good.  Better than one other at least.    Einsteins, yes! And you say no?  Too bad.  With those $380K lofts, we know it will be full of quasi-rich retired jews who will need their bagels and lox and cream cheese for when they get up about 10am and mosey on over for their social hour at the bakery.  Or, an Italian bakery, even better.  My aunt married a peach of a guy whose mother was Jewish and his father was Italian.  Man, the food memories from eating what she learned from her mother in law will last me a lifetime.  We never turned down an invite for any occassion from them.  Even for Great-Uncle Rocco's bocce ball games out back.  Food, and more food.  MMM mmmm good.  Publix, in the morning, has some good bagels.  So does Starbucks at Braelinn Kroger.  Not as great as any Jewish bakery, but best we can hope for in oh so vanilla PTC.  The 3 stooges were jews, too, you know.  L'chaim!    
mudcat's picture
mudcat wrote on Fri, 08/19/2016 - 6:07am
Dar vote? Is it Yes?                                                                Sure hope so, but nothing on The Citizen or AJC. Yea, L"chaim to you too. You got a little off subject there with dogs and bagels, but if Dar's lofts were approved, I am a happy camper and future buyer. When that building is up and nearing completion, this here house goes on the market. Things seem to be selling faster in PTC in the middle price ranges and that is a good thing. Probably the schools and their pledge to clean out the illegals with elecric bills. Can't wait for a progress report on that.
dar thompson wrote on Fri, 08/19/2016 - 9:38am
Lofts pass 4-1....Mike King only one to vote Against.
Husband and Fat... wrote on Fri, 08/19/2016 - 10:10am
Congrats. I was happy to see that you listened to some of the concerns and scaled back.
NeilSullivan wrote on Fri, 08/19/2016 - 10:18am
Congratulations. This is going to be a great addition to Peachtree City.
Husband and Fat... wrote on Fri, 08/19/2016 - 12:17pm
If you thought building a restaurant was trying, wait until you have 50 different mudcats wanting to change things to their own tastes in their apartment and start arguing with you over the costs.
rmoc wrote on Fri, 08/19/2016 - 11:08am
Mudcat Middle range house in PTC..been looking to downsize for a while but no luck in PTC.  Houses under 300K go fast unless they are dumps or in nasty neighborhoods sometimes the day they are listed. I guess I can feel better that my current home has increased in value to over 300K and had an agent call to see if I wanted to sell because they had a buyer who wanted property with woods front and back, told them 350K would be what I needed to clear out since a smaller home would be 200-275k even in Senoia. Would love to go to the lofts but way too much for me. Smaller doesn't mean cheaper when the little cool houses off Braelinn and Georgian Park are 270K plus...
mudcat's picture
mudcat wrote on Fri, 08/19/2016 - 12:24pm
$300k housing                                                                       so odd to think of this as mid-range housing. We moved here when the only thing over $100k was in Stoneybrook or Smoke Rise. Nevertheless, yes indeed below $300k, Logsdon, Bernie and several of their competitors in the house-flippin business are wired in to the realtors to buy quickly. Regular folks who would take 3 or 4 days to look at and inspect a house don't have a chance. Probably just as well, most Millennials are not fixer-upers, they want it now and they want it completely renovated and since they seem willing to pay for it - why not.                                                                                          One overlooked place that for some reason has many more rentals than normal is Albemarle. Nice houses on tiny lots and below $300k. Even Wieland's townehomes over by Home Depot are good deals - lot's of square footage for the low $300's.                                                                                        I'm still on board with Dar's lofts. So happy that passed. Didn't see the meeting, but I hope Vanessa led the group to the correct conclusion. Not sure what King was thinking about voting against. Was he a Great Wolf promoter during that fiasco? Might need to watch him and his votes closely.       
moelarrycurly wrote on Fri, 08/19/2016 - 1:34pm
There were a few surprises I did not expect.  The 3 out back who lawyered up and then their attorney talked about spot zoning which was poo poohed by none other than Scott Bennett, Esq., of former county attorney infamy, when he got up to refute for Dar.  His initial presentation was ok, Dar was smart to have him represent him.  However, his rebuttal comments were spot on.  I am no legal expert, so what do I know, but he sure made things crystal clear for me and I think many others in the room.  Dar, money well spent there, imho. Anyone who listens to Bennett will hear what Dar has tried to say over and over already.    Let's hope there are no granite outcroppings underground there or hidden springs that will show up as this progresses.  You never know what is hiding in, or should I say under, good old PTC.     That sad argument again about the dog walkers.  Please.  And the 5 story building behind you.  It is not 5 stories it is 4 and trot yourselves over to Village Park and look behind those homes along the shared border with Arbor Terrace and their saltwater pool and party area outside.  Talk with those folks and ask them how many issues they have had.  None, I bet.  Nada.  Zero. Zip.  And, you governors have those 2 car garage with bonus room above to offer separation, too, which does not exist at Village Park.     I am happy it passed, too.  Dar, I assume this is your first foray into residential/comm. development?  With residential neighbors over the property line?  If so, keep Mr. Bennett apprised and ready to rock and roll.   Finally, when this is finished, I do believe Dar will have his shining moment for introducing a concept to the south side that has not been seen before.  Hang in there, Dar.  And thanks for having a vision and working so hard to attain it right here in our beautiful little city.  
Husband and Fat... wrote on Fri, 08/19/2016 - 3:18pm
I was surprised how quickly and with very little discussion, they ruled on the ethics ordinance.   
moelarrycurly wrote on Fri, 08/19/2016 - 3:22pm
The ahead of time scripting of these meetings is so obvious.  See how they never look up?
Husband and Fat... wrote on Fri, 08/19/2016 - 3:35pm
I guess an acting job at Pinewood is out of the question.
mudcat's picture
mudcat wrote on Thu, 08/18/2016 - 7:34pm
2 things funny guy                                                  1. Comcast is not a keeper. Dish TV is great and now that they are paired with ATT, you can get a dish signal or a telephone signal and they actually seem to work all of the time. My last ever Super Bowl party back in the 90's featured a Comcast failure in the third quarter. Then they moved the service center out of PTC and you have to drive to Mt. Zion. Geeez.                                                                                    2. Dar's loft project is tonite. I asume since council stares at their laptops all night instead of paying attention to the speakers, they may actually read this before they vote - HEY COUNCIL. VOTE FOR DAR'S PROJECT. IT IS BETTER THAN ANYTHING ELSE. IT IS CERTAINLY BETTER THAN LOWES WHO REALLY WANTS INTO PTC. YOU WANT THAT THERE?                You have a chance to finish off a mini planned community within our planned city. It will be a showcase and an example of fine planning. After so many misteps, the lofts will pull it all together and we will have something to be proud of. Think about what you can do to help. Don't be a barrier to something wonderful.                                                                                                                     3. And another - Stand up and lead Vanessa. Show that you understand the dynamics of approving Dar's lofts and losing 40,000 sq ft of retail. Lead Vanessa. Don't be a Haddix and hide behind a mostly uninformed Planning Commission. Lead girl, lead!                                                                                   
JessieJames1847's picture
JessieJames1847 wrote on Thu, 08/18/2016 - 9:13pm
Mudcat Your experience with AT&T and mine are POLAR OPPOSITE, which kinda lessens your ammuntion against Dar and the following complaints. Ya see Opinions are JUST THAT,, now let's talk Ga Constitution, US Constitution and PTC Zoning Laws and WHY Fayette County was Founded and WHY we still in 2016 need a Fayette County,,,
mudcat's picture
mudcat wrote on Fri, 08/19/2016 - 5:58am
AT&T works fine                                                                  Comcast goes out in a storm and some channels don't come back until after you endure a 30-minute session with some person in India who keeps saying check your connections. Sometimes the signal comes back, sometime you need a new box which usually 3 or 4 days. AT&T has gone out twice in the past year. Once it recovered itself, the other time I just did the power of and on thing and back in business. That being said, it is sort of stupid to have 2 internet and TV providers and we will be dumping comcast soon.                                                                                                     Maybe you are just one of those people who has a vibe about them that causes electronic things not to work. My neighbor is like that. She is afraid to touch anything and calls for help with smoke alarm batteries.
Gcat wrote on Wed, 08/17/2016 - 9:07pm
Jefferson Browne is not a licensed architect. He signed a cease and desist order with the State of Georgia in 05 that he would stop practicing architecture without a license.
mudcat's picture
mudcat wrote on Fri, 08/19/2016 - 6:15am
Who cares about Browne                                             besides you that is. And you seem to care a great deal. He has a great design for this property and I don't know that a license from the state or a fee paid to the state has anything to do with that. Other architects may be jealous because they didn't get the job, but he probably works cheaper without all that expensive education and fee paying. And don't try to play the public safety card, that's why there are engineers and contractors who do have licenses. Nothing bad has ever happened to a building under construction in Georgia if the engineer and contractors were in full compliance with their fees or dues to the state. God looks out for people who pay the state on time. So there.
AtHomeGym wrote on Fri, 08/19/2016 - 5:01pm
Mudkitty, Errors & Omissions Insurance Things do go wrong.  That's why the Pros have subj Insurance.  How do I know?  My Son is a PE, currently designing Power Substations for installation in the Bakken, ND Oilfield>  
dar thompson wrote on Fri, 08/19/2016 - 9:09am
OK...Just keep beating that drum. It's really worked well for you thus far as he continues to build one project after the next..
dar thompson wrote on Fri, 08/19/2016 - 9:13am
OK...Just keep beating that drum. 

Pages

Ad space area 4 internal

Sponsored Content

© 2015 by Fayette Publishing, Inc.