Centennial Yards Redevelopment

Years in the making, the Centennial Yards Redevelopment project is officially ready to move forward. The $5-billion mixed-used development is set to cover the 50-acre area of downtown Atlanta formerly known as the gulch. Currently serving as a massive parking space, the project plans to transform the area into a mix of retail, commercial, and residential spaces in order to create a central hub for community gathering. Led by Centennial Yards Co., a partnership between CIM Group and a group led by Tony Ressler, this new development is slotted to be one of the largest non-interstate-related construction projects in state history, and the excitement is already brewing around the entire concept. 

The idea for the Centennial Yards first stemmed from Tony Ressler, billionaire and Hawks owner, who saw the wasted potential of the unutilized space offered by the Gulch. Since the birth of this concept in 2015, those working on the plans have faced numerous setbacks including everything from previous pending deals and geographic complexities, to brand recognition. However, thanks to a multitude of investors and creative thinkers who understand the potential for economic growth, the project has continued to push forward. 

As of July of 2021, the megaproject won formal approval from the City of Atlanta to move forward with the plans which strive to include 12 million square feet of office space, mixed-income housing, retail space, hotels, a variety of entertainment destinations, and a multitude of green space to completely transform the area into something amazing. Currently, development is already underway on a third of the site, and one of the residential building has already been completed. 

While the completion of the mini-city is still years away, we are thrilled at the progress being made, and look forward to seeing what’s to come.

For more updates on development around Atlanta, visit www.evatlanta.com