An experienced real-estate developer told me the other day, “y’all have a very unique situation going on in downtown. Normally, one development starts, builds, and delivers while the surrounding developers wait and see what happens. That’s not the case right now.”
There’s been a feeling of positive momentum downtown but after that comment it made me stop and reflect on what is actually occurring – all of it simultaneously.
Below is an incomplete list but a list nonetheless.
Before getting into all the exciting progress, why should any Atlantan (or Georgian for that matter) care about our downtown?
Metro Atlanta’s annual GDP is $455B. Downtown Atlanta’s Annual Economic Impact is $33B. Our downtown is less than .1% of all of metro Atlanta in land size, yet it brings in 7% of the city's GDP.
If downtown thrives, Atlanta thrives. If Atlanta thrives, Georgia thrives.
Great cities build great countries.
Developments Happening:
It’s important to highlight what is already happening.
Underground Atlanta - first, Underground already has Masquerade, several art galleries, food trucks, a cat-themed listening lounge, and the iconic MJQ is opening before year end. They also just added some fresh paint producing a totally new look.
Origin Hotel - located at the corner of Pryor and Mitchell in South Downtown, the Origin Hotel is a 122 unit hotel finalizing construction. Butter + Scotch is set to open in the lobby with a gorgeous horse-show bar. Atlanta needs more unique and boutique hotels.
Centennial Yards - a new crane just entered the Centennial Yards arena off the heels of their $556M bond allocation announcement. Construction for The Mitchell has been topped out with 305 units along with a 292 key hotel right next to it. Let’s not forget the social-media melting Cosm bar coming.
South Downtown - $120M+ in phase one of South Downtown’s revival has been planned and approved. We just submitted our SAP permits to turn 82 and 85 Peachtree into some of Atlanta’s most unique and historic apartments. Announcements galore each month, most recently with Delilah’s signing their lease. Here is our monthly email newsletter to get the latest.
Koch Industries / Georgia Pacific - just this month it was announced the Georgia-Pacific building, the original location of the Loews hotel and 6th largest building in Atlanta, will go through a renovation and conversion to residential in a large portion of the building.
The Stitch - a multi-hundred million dollar park is approved and going over 75-85 in North Downtown (north of Five Points MARTA station). Here is a very clear image and plan of what’s ahead.
Georgia’s Capitol Hill - $400M has been earmarked for a renovation that will include a bridge over MLK Dr. Construction starts this year.
Teacher’s Village in the Fairlie-Poplar District - $370M in tax-exempt bonds has been allocated to build a residential tower with 424 units for teachers and seniors
Deals in the Pipeline:
Trinity Flats - sitting right across the street from City Hall, Trinity Flats is scheduled to be completed in 2026. 219 residential units are planned for this development.
Two Peachtree - brokers are working overtime to secure a $250M loan, with the help of the city, so Two Peachtree can deliver 600 units right next to Five Points MARTA station.
Underground - in addition to all the regular activity occurring now, plans have been set forth for a tower with residential units.
Georgia World Congress Center (GWCC) - has just released their Composite Neighborhood Plan across their 223 acres. They have already put out a call for a team to develop the first phase.
All of this is happening simultaneously!
Current Unknowns:
143 Alabama - In July this year, the city put out an RFP for the structurally beautiful yet severely dilapidated building that used to be an office for Georgia Power and then the AJC. It’s been vacant for 50 years!
MARTA Five Points and Garnett Station - the pause of MARTA’s Five Points plans mixed with the back and forth around the audit leaves several questions. Five Points must be the station generations before designed it to be: a safe, clean, and beautiful intersection of our two major transit lines. MARTA may just be our greatest, yet underutilized asset.
Overall, the excitement in and around downtown has been thrilling to be a small part of and as time goes on as more of Atlanta’s downtown awakens, the experiences and possibilities ahead are limitless.