real estate

UPDATE: Porsche's new headquarters, test track, costing $466 Million more than expected

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UPDATE: Porsche's new headquarters, test track, costing $466 Million more than expected

Luxury automobile manufacture files permit applications to construct new facility near Hartsfield-Jackson totaling $566 Million.

Porsche Cars North America is moving forward with plans to relocate its Sandy Springs headquarters of 13 years to Jacoby Development Inc.’s Aerotropolis Atlanta, the nearly 130-acre mixed-used redevelopment of a Ford Motor Co. assembly plant that stood in Hapeville for almost 60 years.

Porsche filed two building permit applications with City of Atlanta Tuesday to begin construction on its new headquarters, training facility and test track.

Porsche's U.S. headquarters compound will consist of a "three level below grade parking structure with 650 parking spaces," an automotive technical training space, fitness area, restaurant and four-story office building, according to the permit.

Porsche will spend an estimated $564,000,000 constructing its 234,000-square-foot headquarters. An additional $2,100,000 will be spent to construct the luxury automobile's "driving experience and track," according to a second permit application.

Porsche originally announced it would only spend an estimated $100 Million on the project.

The luxury automobile manufacture will become the first tenant at the Aerotropolis development neighboring Hartsfield-Jackson Atlanta International Airport.

The headquarters, at 320 South Central, is slated for completion in 2013.

Photo courtesy of Porsche.

Caleb Spivak

Caleb J. Spivak (CJS) is the Founder of What Now Atlanta (WNA). He was featured in The New York Times, Creative Loafing's "20 People to Watch," named "Lifestyle Blogger You Need To Know" by Rolling Out Magazine and highlighted as Atlanta's Metropolitan Male in fashion magazine, 944. WNA has been named "Best of Atlanta" by Creative Loafing, and Atlanta and Jezebel Magazines.

6 responses to “UPDATE: Porsche's new headquarters, test track, costing $466 Million more than expected

  1. The photo you attached shows the short-listed design proposals for the Porsche HQ, the upper left image is the winning HOK design - which has already had some major changes to the design since that rendering was last released.

  2. The price on the permit is actually the city's new game to extort money from permit applicants (aka -people adding value to the city). Whereas the contract price with the general contractor used to be what the permit price was based on, the city determined if they say what the price is they could create additional revenue.

    From what I have been told, they are charging about 200% of actual costs.

    Oh, and did I mention that it helps their good friends at the tax assessor's office create an above market valuation for property taxes.

  3. Since this is being built in hapeville, why is the building permit coming to Atlanta? Permit price did not change, it takes an act of Council in July to make those changes.

  4. Ohh my god!! $2,100,000 for just building driving tracks and i don't understand why such huge companies invest in such crap things and if this is a genuine information then i guaranteed that porch will definitely become one the best luxuries company.. Any ways thanks it is very interesting post i will glad to know when this project starts......

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