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.
Kim, who was from South Korea, ran a shoe repair shop in metro Atlanta before his retirement.
Barings provided a $134 million loan to refinance the existing loan on Smoky Hollow in Raleigh.
Atlanta is the city that keeps on giving, especially when it comes to reality shows.
Amazon’s data center unit has acquired land outside Atlanta, Georgia.
The Upton, a new luxury development in Chosewood Park, launches an artist residency program offering free rent and a stipend to create community-engaging art under the theme “Grounded-In-Your-Light.”ATLANTA, GA – The Upton, Chosewood Park’s newest luxury multifamily development, is seeking proposals from talented artists across the country to join its residency program, themed “Grounded-In-Your-Light.” Curated by Gallery Residential, a premier property management agency renowned for supporting artists, the 18-month residency offers complimentary rent, expecting artists to create their work and participate in scheduled events three times a month.
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