By: Casey Holloway
Have you looked around Downtown Atlanta’s construction sites lately and wondered what’s going on? There are several huge projects underway in Downtown Atlanta. Between now and 2020, $3.8 billion worth of construction will be either completed or in progress in Downtown Atlanta. Here is a list of some of the major projects that are underway.
Underground Atlanta Redevelopment
WRS Inc., a South Carolina-based real estate investment firm, is spearheading the complete transformation of four blocks of Downtown Atlanta. Construction on Block Three has already begun and will be completed in less than a year. That block alone will have around 175,000 square feet of office, retail, and communal space. Block Three is currently home to the Masquerade, a nightclub, and Post-Office Cowork, a coffee shop that doubles as rentable office space. Block Two will house around 200 student apartments and around 180 affordable apartments on top of 150,000 square feet of new retail space and is expected to be completed in late 2020. Block Four will contain over 40,000 square feet of retail storefronts. Although Block One will be the last phase completed, WRS’s vision for this block includes a higher density hotel, office, retail, and additional housing.
Carter, Oakwood Development, and Weatherholtz Properties are in the process of redeveloping Turner Field into a mixed-use project in Downtown Atlanta. Their vision is to turn the streets of Summerhill into a commercial corridor where Atlantans will want to eat, shop, and hang out. The redevelopment plans include multifamily apartment units, retail space, student housing, and office space. The plans will take a few years to complete, and, so far, several businesses have signed on, including a brewery, a coffeehouse, a bakeshop and ice cream shop, and a barbecue restaurant.
Philips Arena Renovation
Philips Arena is undergoing a $192 million renovation managed by HJ Russell & Company and Legends Project Development. The renovation plans include a focus on social interaction and even include plans for Topgolf suites with simulators and a view of the arena. Technology upgrades are also a focus of the plans and the renovated arena will include a new massive scoreboard that is anticipated to be three times larger than the previous scoreboard, upgraded Wi-Fi, and upgraded acoustics. The arena will have seating capacity for 17,500 people. Four firms, including Turner Construction, AECOM Hunt, SG Contracting, and Bryson Constructors, are working on construction.
Casey Holloway is a recent graduate of Georgia State University School of Law. She will be starting as an associate in the commercial real estate section at Cushing, Morris, Armbruster & Montgomery in fall 2018.
Subscribe today and get future blog posts your email.