By Doug Sams and Maria Saporta
As published in the Atlanta Business Chronicle on May 20, 2016
Nearly a year after the city of Atlanta announced an agreement to redevelop Underground Atlanta and almost eight months after plans emerged to transform the Atlanta Civic Center, neither deal has closed — and cranes for the intown projects are nowhere in sight.
The delays come as the country enters a period of uncertainty surrounding the presidential election, and the real estate cycle — which has flooded Atlanta with new investment and dotted its central skyline and intown neighborhoods with apartment buildings — may be peaking.
Recently, the outlook for the nearly $300 million Boisfeuillet Jones Atlanta Civic Center redevelopment took an unexpected turn when Atlanta Mayor Kasim Reed told a reporter “the deal is a little shaky. It’s taken longer than I had hoped it would.”
