Development Updates in Atlanta:
Atlanta is making serious strides in bringing local communities together with several large mixed-use projects this summer. The projects promise to bring new recreational space, residential complexes, and retail development to the city. Upcoming historic redevelopment projects will inject new life into neighborhoods, and mixed-use development will create new infrastructure for residents to live, work, and play in. Here’s a look at Atlanta's current and anticipated real estate development projects.
Junction Krog District by Portman Holdings
Portman Holding’s six-story development, situated at the corner of Irwin Street and Auburn Avenue, is set to open before the end of this summer. Named Junction Krog District, it’s being designed to connect to the Beltline’s eastside trail. The project will bring 130,000 sq. ft. of office space and three high-end restaurants to the area and tout a stunning 7,000 sq. ft. indoor-outdoor porch on the ground floor. The porch, the project's focal point, will be open to the public, containing murals and sculptures throughout the space.
Centennial Yards Revitalization Project
Los Angeles-based developer, the CIM Group, is tackling the $5 billion Centennial Yards Revitalization project. The firm has already begun construction on two 18-story towers, one slated to become a hotel and the second to become an apartment complex. The towers are set to deliver in 2025, but the development is projected to be completed in its entirety by the end of the decade. Once completed, it will transform 50 acres of land in downtown Atlanta with 8 million sq. ft. of residential and commercial space, hotels, national retailers, a pedestrian bridge, and upscale office buildings.
Redevelopment of South Atlanta Historic Buildings
Newport RE has announced plans for two mixed-use towers between South Atlanta and the Centennial Yards mega project. The project will include the construction of 650 new apartments and nearly a dozen retail and restaurant spaces. The firm already has an impressive portfolio in downtown South Atlanta, which will add to over $100 million already invested in local historic redevelopment.
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Georgia Digest