Mid-September has arrived. Despite the fact that my neighbors have put out their mums and fake pumpkins, it’s still blazing hot, according to my retro-themed Weather Channel app.
I’m Savannah Sicurella, an AJC business reporter who is curating this week’s newsletter. Like my colleague said last week, I’m manifesting cooler temperatures, especially ahead of Shaky Knees in Piedmont Park this weekend.
Anyway, let’s get into this week’s Georgianomics. Highlights include:
Real estate challenges
🚗 Fuel prices
💵 Royalty disputes
1: Midtown malaise
Have you ever wondered what’s happening with that skeletal office tower on Peachtree Street in Midtown?
The Midtowne, as it is now named, has been under renovation for more than five years, with its developer, John Dewberry, wanting to modernize the building and add floors.
But the project has faced scrutiny from residents, who want answers about the condition of the site and a timeline for completion. In June, the Atlanta City Council urged the city to impose a blight tax on the property, hoping it will prompt him to work faster or even sell.
But Dewberry said he’s facing challenges in completing the tower spurred by discussions over the blight tax and condition of the property, according to a letter he sent to the council in June.
Let’s break down what you need to know:
Why has it taken this long to complete? The project has been delayed for several reasons. A major issue Dewberry discusses in the letter is that it has been difficult to find lenders for office projects in recent years.
How could the blight tax impact Dewberry? If approved, a tax equivalent to 25 times the current city general operating levy millage rate can be applied, increasing the city general tax bill on the property from more than $91,000 to nearly $2.3 million. Still, a higher tax bill doesn’t produce the money needed to finish a large office tower.
What are the options Dewberry has at this point? Dewberry can hold onto the property and wait until more lenders are active. He can sell it outright to another company, or bring in a partner in exchange for an ownership stake. He also could scale back the project or convert it to another use, such as apartments.
💡Georgianomics readers, what would you like to see happen next with the site? Write us at businessnews@ajc.com. Your best responses could be shared in an upcoming edition.
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2: Concluding the centennial ✈️
Sept. 15 marked the 100th anniversary of the first flight landing at the Atlanta airport, a Florida Airways mail plane flying from Jacksonville, Florida.
The airport was then named Candler Field, and it was a fraction of its current size. Little did anyone know in 1926 that it would become Hartsfield-Jackson Atlanta International Airport and welcome more than 100 million passengers each year.
Hartsfield-Jackson ended its centennial celebrations Thursday, when city leaders and airport executives gathered to discuss its past and present. Descendants of the two former mayors most credited to shepherding its growth — William Hartsfield and Maynard Jackson — were also present.
- Our quote of the week: “Jackson!” — Valerie Jackson, Maynard Jackson’s widow, interjected during Eshé Collins’ remarks at the ceremony, when the Post 3 At-Large Atlanta city councilmember referred to the airport in shorthand as just “Hartsfield.” (“Hartsfield-Jackson, yes ma’am!” Collins responded.)
The celebrations prompt questions of what the next 100 years may bring, and how Hartsfield-Jackson can still stay ahead.
💵 One thing is certain: Hartsfield-Jackson will continue to make improvements. Earlier this month, the Federal Aviation Administration announced it was awarding $100 million to Hartsfield-Jackson for runway, taxiway and terminal reconstruction and runway safety area improvements.
🔍 Read more of our centennial coverage here.
3: Meet Savannah Sicurella
Hello! I have been covering Georgia’s media and entertainment industries for the AJC since 2024. Time flies when you’re having fun.
Fun fact: I am a prolific bread baker. English muffins, baguettes, boules, bagels, brioche … almost every cooking vessel in my house has a trace of crusted-on flour.
Next week’s author is Amy Wenk.
4: Fuel prices ⛽
The average price of diesel per gallon in Georgia reached a record Tuesday: $6.30.
That’s not only a record nominally but also on an inflation-adjusted basis.
Georgia’s average on Tuesday was slightly higher than diesel prices nationwide, which was $6.26 per gallon, according to AAA. Regular unleaded in Georgia was $4.04 a gallon Tuesday, up from $3.89 one week prior.
Because diesel fuel is used in heavy trucks and freight trains, higher prices mean higher transportation costs for many goods.
Fuel costs have climbed since the start of the Iran war, which began in February and has interrupted the global oil supply.
- Gasoline accounted for more than one-third of the overall increase in consumer prices for August, according to the most recent Consumer Price Index report.
5: Third time’s the charm? 🏒
The race to bring professional hockey back to the region has intensified, the AJC’s Zachary Hansen reported.
A third group near Atlanta has reportedly thrown its hat into the rink, so to speak, to spearhead a new franchise expansion bid.
Anson Carter, a former league star, TNT analyst and metro Atlanta resident, is spearheading the bid, which is separate from efforts in Alpharetta and Forsyth County. Carter has indicated he has “adequate financing” but hasn’t chosen a location, a top NHL official said.
💡Georgianomics readers, where would you want to see a hockey team in the metro area? Write us at businessnews@ajc.com.
6: Taking her shot 📸
This week’s Her+Story profile features Bessie Akuba Winn, who found herself working as a commercial photographer in her 40s and seeing “all these 20-year-olds … doing all these things, and I’d think to myself, look how far they’ve gotten.”
She decided to take a shot at doing something purely creative, on her own terms.
The result is a book called “Our Kind of Women,” with portraits and reflections of Black women over 40.
But her journey to publishing the book is the real story. Read more: Atlanta photographer captures 107 Black women’s ‘becoming era’ in new book.
7: More top stories
🏨 World Cup hotel occupancy: Hotel occupancy was lower during the months Atlanta hosted FIFA World Cup matches than the same period last year.
💻 Data center labor: Data center construction is increasing the competition for skilled workers able to deliver such large projects, impacting other developments and employers.
🏛️ Atlanta rock band sued: Atlanta-based metal band Mastodon is facing a lawsuit from a late bandmate’s estate, alleging the group used his likeness after his death to promote a new album.
8: Moving on and up 🪜
Data center developer DC Blox has hired former Georgia Public Service Commissioner Tricia Pridemore as executive vice president of energy, regulatory and policy.
Johns Creek native Madilyn Browning has been named concierge manager for Toro Development Co.’s forthcoming Medley project, which opens next month.
The Atlanta Press Club announced its executive director, Julia Boyd, will leave her role at the end of this month to lead the Georgia Screen Entertainment Coalition as its executive director.
9: Every dollar counts
Stat of the week: $500,000
That’s how much Atlanta rapper T-Pain claims he is owed in unpaid royalties for his recent music sales from Konvict Entertainment LLC, AJC reporter Rosie Manins reported.
T-Pain is suing Konvict, the Georgia record label co-founded by Akon, alleging the company failed to pay him what he’s owed under a 2005 recording agreement. Konvict Entertainment did not respond to requests for comment from the AJC.
Thanks for reading to the bottom. Help us shape future editions of Georgianomics. Got a tip or an idea worthy of coverage or a key new hire you want to tout? Email us at businessnews@ajc.com.