An Atlanta developer is exploring a mix of housing and retail next to Mercedes-Benz Stadium, a project that could rise on land owned by Falcons owner Arthur Blank and add to the billions in new projects being built downtown.
Development firm Carter is "studying potential opportunities" for roughly 8 acres directly south of the stadium in Castleberry Hill, a company spokesperson said. The site includes a vacant apartment building — Northside Plaza — that recently suffered a gas explosion after someone entered the building to steal copper.
Permit applications filed with the city of Atlanta call for demolition of portions of Northside Plaza and describe the property as slated for "a mixed-use destination focused on residential and retail uses that will support the long-term growth and activation of the surrounding area," according to a letter from a Carter senior vice president. The land was assembled over several years beginning in 2015 for about $29 million, property records show.
Carter is well-known for revitalizing the Summerhill neighborhood near the former Turner Field, where it served as master developer for a $1 billion revival that included rehabbing the historic commercial district along Georgia Avenue and bringing a grocery store to a long-underserved neighborhood. The project next to Mercedes-Benz Stadium could take shape at the southeast corner of Northside and Martin Luther King Jr. drives.
The potential development adds to a surge of investment reshaping areas around the stadium. At Centennial Yards, the 50-acre former Gulch is filling with apartments, hotels, restaurants and entertainment venues, while the former CNN Center and South Downtown are also undergoing major transformations. Atlanta business and civic leaders have long sought to spur investment along Northside Drive, a barrier between downtown and the historically underinvested Vine City and English Avenue neighborhoods.
Source: The Atlanta Journal-Constitution
