Atlanta Real Estate News category interest

D.A. Davidson’s Development Finance Group, J.P. Morgan and co-manager Truist Securities secured $575 million in financing for Centennial Yards, the 50-acre revitalization project set to transform “The Gulch” district in Atlanta.

The bonds were issued through the Atlanta Development Authority and consisted of $219 million in Senior Revenue Bonds secured by property tax increment within the Westside Gulch and $356 million Convertible Capital Appreciation Economic Development Certificates secured by a 5% EZ Fee (similar to sales tax) to be collected within the Centennial Yards project.

Centennial Yards will feature a mix of residential, commercial, retail and entertainment spaces. The project will ultimately deliver over 2,600 residential units, with 20% designated as affordable housing. Nearly 3,000 hotel units, ranging from full-service to boutique offerings, will complement more than 900,000 square feet of retail and entertainment space, including a flagship hotel and an entertainment district.

The buildout is expected to add more than 5.7 million square feet of mixed-zoned residential, commercial and retail space to downtown Atlanta, with final delivery expected by 2030.