Wednesday, February 1, 2012

Student develops mixed-use site

By on March 20, 2007

A senior University student is applying his real estate degree to real life by contributing to the skyline of Atlanta.

Stuart Bern is the sole developer of a one half-acre lot that will boast a five-story mixed-use building in Sandy Springs.

The first floor will hold retail stores, and residents will live in condominiums in the top floors.

Bern’s father, who owns a photography studio on the land, allowed him to take up the idea as a senior project. Bern contacted architects, developers and brokers on his own to get advice and create concept drawings for the site. He had to approach the city and address regulations regarding rezoning property.

“I thought this was a neat opportunity to take the classroom to the real world,” Bern said. “I have worked on projects in Athens before and now have this opportunity in Atlanta. It’s also a way to come back and apply it in class.”

Bern said he made the connections through networking and cold-calling.

“I was surprised that people were so willing to help out, even when I merely explained what I wanted to do,” he said.

He contacted University alumnus Brad Pager, president and CEO of GameDay Condominiums.

“I think Stuart had read an article about our company in a real estate or business magazine that referenced me,” Pager said.

“I was impressed that he had initiative – reading something relating to his future profession – and sent an e-mail and called to see if we could get together to talk. My hat goes off to that type of effort.”

Pager advised Bern on the type of construction he should consider in order to save cost.

“I think the plan is a great idea and always love when people think out of the box. I wanted to help because I know what it’s like to get started,” he said.

“Sometimes the difference between doing well or not is someone helping and encouraging you through the process.”

Bern also contacted developer Dennis Ahlvadeh concerning the future of the project, its financing and marketing.

“I introduced him to architects and engineers,” Ahlvadeh said. “I believe in this project because of all the development in Sandy Springs right now. It’s a viable piece of land.”

Bern said he has researched and determined all aspects to carry out his plan and now is defining the finishing touches before beginning construction.

“It’s at the stage of ‘go’ or ‘no go’ now,” Bern said. “It’s feasible and can work financially. A lot has to be spent on engineering work, but I hope to start construction within the next year, and then it takes six months to a year to build.”

Bern said the 3,200 square feet condominiums include private balconies, elevators with key-code access and covered parking for the price of just under $1 million.

He said the site probably will appeal to “empty-nesters” who want a smaller condominium setting without maintenance.

“There’s a similar project right behind my site that is in the same market and has the same mixed-use style of building,” he said.

Bern said he hopes his initiative will help other students to get out into the real world.

“This has shown me that students can actually take Terry classes and make something of their education. It’s not just about textbooks,” Bern said.

“You have to follow your dreams because there’s always someone or something that’s holding you back.”

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