A mixed-use proposal of extraordinary scale that collapsed into foreclosure two years ago is back on the table, at least on paper.
An LLC called Forge Atlanta Asset Management has signed a Letter of Intent to buy and redevelop the Forge Atlanta project, on the underused industrial blocks where downtown's southern edge meets Castleberry Hill.
Who the buyer is
The LLC is 80 percent owned by Webstar Technology Group, a company that describes itself as a pioneer in the tokenization of real estate assets, with a stated goal of redeveloping urban and resort landscapes through smart design, community focus and cutting-edge technology. Webstar refers to the 3-million-square-foot proposal as The Forge Project, or simply The Forge.
According to Webstar, the site is fully entitled and shovel-ready, with direct access to MARTA rail and Interstate 20. The company notes the parcel's zoning permits the highest density allowed anywhere in the city.
What was proposed
Earlier renderings showed a development that would loom over I-20 on its 10 acres. The program described by Webstar includes boutique and condo hotel rooms, flex space, a sports entertainment complex, restaurant and retail, a cultural center and additional residential components.
That is roughly the same mix that made the original Forge Atlanta pitch, from Urbantec Development Partners, one of the more ambitious things ever proposed for that end of downtown, and roughly the same mix that failed to attract the capital needed to build it.
The caveat
A Letter of Intent is not a closing. The Forge site has generated announcements before, including its listing on the open market after the foreclosure, and the distance between an LOI from a technology company and a 3-million-square-foot construction start is considerable.
Still, the site itself is the argument. Ten fully entitled acres at maximum permitted density, on rail, at the interstate, adjacent to Castleberry Hill and a short distance from Mercedes-Benz Stadium, is not something downtown has much of. Whoever eventually builds it will change the southern boundary of the district.
Original reporting by Josh Green for Urbanize Atlanta, published May 2025.
