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The Floor Area Ratio (FAR) is the ratio of the total floor area of buildings on a certain parcel to the size of the land of that location, or the limit imposed on such a ratio.
The Floor Area Ratio is the total building square footage (building area) divided by the site size square footage (site area).
As a formula: Floor Area Ratio = (Total covered area on all floors of all buildings on a certain plot)/(Area of the parcel, or square feet of the parcel)
Thus, an FAR of 2.0 would indicate that the total floor area of a building could be up to two times the gross area of the parcel on which it is constructed.
Here is an example:
Lets take a site in the red hot Buckhead area and see how FAR ratios work out in a typical redevelopment play.
Take the 1970’s Slaton Manor condo in Buckhead.
The site currently has 151+/- units, is 8 stories and sits on 5.13 acres.
In order to calculate a FAR ratio in the City limits of Atlanta you need to know five main things:
I would love to have your support at the event I have been planning for the Young Leaders Group for the Urban Land Institute. Give me a call if you have any questions but all the details can be found below. It should be a pretty fun event with speakers, networking, food, drinks, and a site tour. We are expecting quite a turn out so hurry up and register soon!
Sincerely,
Giles Stevens
ULI Atlanta - YLG: Adaptive Re-Use and Redevelopment of City Hall East into Ponce Park
Wednesday, June 20, 2007
- Location -
City Hall East
675 Ponce de Leon Avenue, N.E. (more…)
There are also some great photo’s as well as a live web cam on their website: http://www.gallerybuckhead.com/building.htm I took these photos last week on 2-22-07 from the Eclipse parking deck in Buckhead.
By Ty Tagami
The Atlanta Journal-Constitution - Published on: 02/14/07
Buildings as tall as eight stories could be going up at a major DeKalb County development after the County Commission voted Tuesday to allow an exception to the two-story limit in the Brookhaven area.
Sembler Co. wants to build a mix of offices, shops, restaurants and condo towers on a 50-acre tract along Peachtree Road south of Oglethorpe University. The site is now occupied by an aging apartment complex.
There are no buildings that tall near the site, which is surrounded by one- and two-story homes and low-slung strip malls, but there is a five-story building on the university campus.
Florida-based Sembler, known for “mixed-use” developments such as its Edgewood Retail District near Little Five Points, wants to build several towers of six to eight stories. The plan calls for a total of 1,560 housing units plus 150,000 square feet of office space and 600,000 square feet of retail.
Tuesday’s vote to waive the height limit was 6-0. Commissioner Kathie Gannon abstained, she said, because of her involvement in other zoning changes proposed for the area by neighborhood leaders.
The permit means a tower can rise 18 feet from the edge of Giles Stevens’ yard. (I told Ty and the Board of Commissioners that my bedroom window was 18 feet from the property line, see pictures below).
The president of a development consulting firm said he supports such investment near his neighborhood, but said he is concerned about the height of the proposed buildings, with one so near his bedroom window.
Stevens said he could find no other examples in DeKalb of buildings that tall next to single-family houses.”This has been a rushed process,” he told the county commissioners, urging postponement of a decision.(Here is interactive map that I created showing the Transitional Hieght Plane Analysis of Northern Dekalb County that I sent to the BOC)
But Kathryn Zickert, an attorney for Sembler, said there are examples of such contrasting development elsewhere in DeKalb, including in Northlake in the northeast part of the county.
Isakson Barnhart, Atlanta’s award-winning developer of residential communities
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Click here for a full list of current projects in the midtown area. This list includes pictures of each project, square footage, floors, number of units, developer names and building hieght for the entire midtown condo market.
According to several news sources Gwinnett County Developer Wayne Mason who owns the entire Northeast corridor of the beltline along with his Beltline partnership group have pulled their rezoning application from the city. In my opinion this is a huge loss for all of the citizens of the City of Atlanta.
The funny thing is with my experiences earlier this year this whole story comes as No surprise to me. Every meeting I attended furthers the comments by Roy Barnes about the City being asleep at the wheel. Imagine it… A sharp business man thinking he could come in and actually get something done???
Not gonna happen in Atlanta. No Sir!
Can we say Peter Principle?
More recent stories about the Beltline:
“He’s just like any developer,” Coyle fumes. “He makes threats, but he won’t carry through with them. It’s the [Atlanta] City Council that will say what’s appropriate. They’ll come up with some middle ground.”
Giles- I guess not Ms Liz Coyle, vice chairwoman of NPU-F Click Here for the rest of the story
The AJC reported this Saturday on a whale of a story… The article claims that Florida based Sembler Company is in talks with property owners and Dekalb County over the nearly 100 acres at the intersection of North Druid Hills and Briarcliff just off of I-85 (see map below). Developments of Regional Impact (DRI) like these would be quite a hefty price tag.
In fact… let’s do a bit of math on the subject. According to the AJC, one of the parcels being looked at is a 73-acre piece containing the Park at Briarcliff, a 1,017-unit complex of apartments and town-homes owned by the Housing Authority of DeKalb County (important note, Dekalb doesn’t own the land just the buildings). Based off of that acreage and unit count we could deduce the following:
Semblers Brookhaven Place Project:
Paid 66,000,000 for Peachtree Garden Apartments, or $1,315,527 an acre (50.17 acres), or $126,195 per door (523 units).
So based off of those numbers is it possible that this piece could be worth 96 million??? I seriously doubt it but i guess we will see. It is also notable that no Sembler representatives were quoted in this article making me wonder if this story is simply fishing for some news.
I also want to thank the team over at Sembler for working with me on Brookhaven Place especially Heather Correa Duffy, Jeff Fuqua and Kathy Zickert (their zoning attorney). Since my house is the closest house to the project I certainly had some big concerns. Sembler has gone into high gear to address those concerns and they have worked diligently to be prepared for numerous neighborhood meetings other than ours. I feel they have made light years of progress on the Brookhaven Place proposal. They have put together an expensive and thorough landscaping plan that certainly wasn’t required of them and I am certainly grateful.
By TY TAGAMI , KRISTINA TORRES The Atlanta Journal-Constitution Published on: 09/30/06A Florida-based developer known for fusing big-box retail and smaller stores and restaurants with housing and offices is negotiating with DeKalb County officials to build what could be one of the biggest mixed-use projects in metro Atlanta. Sembler Co. is deep into talks with the DeKalb school system and the county housing authority about the proposal, which involves about 100 acres off Briarcliff and North Druid Hills roads near I-85.
It would bring major change to the area and could cause the relocation of highly ranked schools and perhaps 1,000 residents in a government-owned rental complex.
CoStar reported the apartments sold for 10Million or $75,200 Per Unit (133 units total). Our research confirmed both the sale price and found a legal description confirming the reported 13.8 acres, bringing the sales price per acre to $724,638. Click here to read the Article
The Business Chronicle Also reported the story Click Here
Just when news stories covering the doom and gloom of the real estate bubble seem to be at a fever pitch you find transactions continuing to defy the logic of the Wall Street Journal and Ny Times. Anyone remember this story from this time last year in the Atlanta Business Chronicle “Lenders pull back on condominium financing“? Surely after a full year this Condo Conversion market would be six feet under by now ??…..
Well not according to Regions Bank who provided Silvertree Apartments Inc., Managed by Act Investments of Chamblee with a three year $12.47 Million dollar Construction loan. (Deed Book 43143 Page 349)
On ACT’s Website they list the Avalon Townhomes as “a total of 133 townhome units contained in sixteen two-story buildings. The property is located in Sandy Springs, Georgia consisting of 118 two bedroom unit and 15 three bedroom. The townhomes range in size from 1,100 to 1,600 square ft.” By the way, thier website http://www.avalonofsandysprings.com/ looks great!!! (it apears my website designer Drew Barton over at Southern Web Group has scooped me again on this story since the website is already completed) From now on I am just going to call Drew when I am looking for the latest gossip since he and his team seem to be producing every real estate website in town!
To all you developers and RE guys out there… These appartment ratings websites are becoming an increasingly usefull tool in rating the health of apartments. Check out the dirt these residents are dishing out on Silvertree from one of the major sites found from a simple Google search. (click here)
ULI Atlanta - 3rd Annual Urban Marketplace
Tuesday, October 24, 2006
- Location -
Georgia World Congress Center
Georgia Ballroom, Building C on Northside Drive
Atlanta, GA
