Porsche HQ construction to pick up later this year

21.02.13 GACC South News

Since Porsche Cars North America Inc. broke ground on its new Atlanta headquarters last November, construction hasn’t exactly set speed records.

In fact, it appears stuck in neutral.

Other than a billboard touting the $100 million project at the former Ford plant in Hapeville, barely anything has happened since the November ground breaking. The ceremony drew heavyweights including Gov. Nathan Deal; Porsche CEO Matthias Muller; and Dr. Wolfgang Porsche, grandson of company founder Ferdinand Porsche.

Last year, Porsche Cars North America eyed a blazing 12-month-construction timetable, and even had ambitions to occupy new headquarters by the end of 2013.

Porsche has scaled back its expectations for the pace of the project.

The German luxury automaker is committed to the site and construction will start later this year, said Jacoby Group’s Armand Vari, who is helping lead the redevelopment of the old Ford plant, part of the larger Aerotropolis planned around Hartsfield Jackson Atlanta International Airport.

The delay stems in part from the need to choose a contractor, sources familiar with the process said.

It may be later this summer before significant progress on the headquarters starts to take shape, and mid 2014 before Porsche occupies the building.

The North American headquarters campus will overlook the runways of the world’s busiest airport. Porsche will eventually move from its Sandy Springs, Ga., headquarters to the 26-acre Hapeville campus that will include a 150,000-square-foot office building.

Porsche is relocating about 300 employees from Sandy Springs and about 100 jobs as part of a consolidation of finance and insurance operations from suburban Chicago.

Source: www.bizjournals.com - Webview