ATLANTA—Following the announcement of The Johnson Studio joining forces with Copper Carry, the Atlanta-based firm announced that it opened 37 projects, or 4.3 million square feet, in seven states in 2015 with an additional 51 new projects awarded.
Looking ahead to 2016, Kevin Cantley, president and CEO of Copper Carry, predicts new design demand for office buildings and dual-branded hotels. Referencing Urban Land Institute's (ULI) emerging trends, Cantley, who is chair of ULI Atlanta, also anticipates secondary markets such as Austin, TX; Portland, OR; Nashville; and Charlotte, NC to attract investments across all sectors as Millennials continue to seek urban, walkable communities.
"In 2016, we expect to see growth in the development of office buildings in cities such as Atlanta where there's only one major multi-tenant office project under construction," said Cantley. "We also expect to see increased demand in dual-branded hotels in high-barrier to entry markets where land prices continue to rise. Happily, we're at the forefront of the dual-branded trend with projects such as the AC Hotel by Marriott/Moxy hotel in Midtown Atlanta in the pipeline."
In addition to the six hotels completed last year, the hospitality studio was awarded eight new projects in 2015, totaling more than 1,300 hotel rooms. Of significance was the opening of Hyatt Place Baltimore/Inner Harbor and Sea Pines Resort, which won Golf Inc.'s Clubhouse of the Year. In 2016, the Copper Carry-designed Hilton Downtown Cleveland Hotel will open in time to host the Republican National Convention.
Activity in the design of retail and mixed-use developments continues to expand as well, with the delivery of projects such as Emory Point Phase II and the upscale mall, Phipps Plaza, renovation in Atlanta. Copper Carry's work reflects developers' continued desire to create pedestrian-friendly, walkable spaces that offer a variety of experiences for consumers. In addition, the firm continues to grow its international practice with several projects in the Middle East, including a luxury shopping mall in Dubai and an eco hotel in Nicaragua.
Residential remains strong with 774 new units awarded in 2015. The team completed The High Rise at Post Alexander in Buckhead (Atlanta), which is a 26-story apartment building, and an adaptive reuse project, dubbed The Mill at 515, in Old Town Alexandria, Va.
The office studio at Copper Carry is also experiencing growth with companies expanding in various markets. The team has noted that companies take a special interest in transit-oriented communities. In 2016, Copper Carry will continue work on the new office and mixed-used complex that will be anchored by State Farm in Dunwoody, GA. In addition, the team was awarded nearly two million square feet in new corporate and office projects.
Along with Copper Carry's private sector business, the firm's higher education, science + technology and K-12 design work has also increased. In 2015, the firm completed six K-12 schools including the final phase of an adaptive reuse, five-story office building, which was converted to an elementary school in Arlington, VA. Copper Carry's higher education studio completed five projects.
With offices in Atlanta, New York and Washington, D.C., Copper Carry promoted more than 50 employees to accommodate the substantial growth across many of its studios. Additionally, the recently announced combination of Copper Carry and The Johnson Studio will enhance both firms' ability to provide an expanded menu of services for hospitality and restaurant projects in 2016.
"Last year was an active year for new awards," said Cantley. "The 51 projects we were awarded total approximately 7.1 million square feet. We believe this is a strong indication for greater opportunities in 2016. In looking at our year over year comparison of 2014 vs. 2015, the firm's revenue was up by some 30%. We feel this portends to a bright outlook across the firm for at least the next 12 months."
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
