On June 6 Mayor Andre Dickens and Invest Atlanta kicked off renovations on the latest neglected Downtown Atlanta site — the long-abandoned former Atlanta Constitution building.
The $40.6 million dollar transformation will turn the historic building into “Folio House,” a combination of affordable housing and commercial space. It’s part of the city’s ongoing effort to revitalize the city’s downtown ahead of eight FIFA World Cup matches headed to the area in the summer of 2026.
“The transformation of 143 Alabama is part of a broader vision of an equitable downtown revitalization that already includes 2 Peachtree and properties on Trinity and Forsyth,” Mayor Dickens said. “These investments are testaments to the strength of public-private partnerships — how they can turn vacant and underutilized buildings into thriving community-serving spaces.”
Phase 1A is set to be completed by May 2026. It will primarily focus on stabilizing and restoring the exterior of the historic building.
From there, Phase 1B of construction will add over 5,000 square feet of commercial space and 50 affordable housing units priced between 30 and 80 percent of the Area Median Income. A $3.5 million Westside TAD Ascension Fund grant will help keep the units permanently affordable.
It’s the first activity around 143 Alabama in decades. The building has sat abandoned since the 1970s, but it’s a bonafide historic landmark. The structure was built in 1947 in “Art Moderne” style for the Atlanta Constitution. It’s one of the few buildings in the city to fit the 1930s Art Deco style.
When the Atlanta Constitution merged with the Atlanta Journal to create the Atlanta Journal-Constitution in 1955, the building ceased newspaper operations. Then Georgia Power occupied it until 1972. It’s been vacant ever since.
In 2023, the property made it onto the Georgia Trust for Historic Preservation’s list of “Places in Peril” to signify historic sites threatened by demolition and neglect. Over the years it had several redevelopment proposals, but none stuck — until now.
“The Folio” will have 190 affordable housing units when finished, with thousands of square feet in commercial space and an outdoor area called “The Pitch” to be used for World Cup events. Invest Atlanta CEO Dr. Eloisa Klementich said the city’s economic agency estimates $130 million in total economic output.
Phase 1B is set for post-World Cup March 2027 completion. The final phase will add even more affordable residential units through July 2028, with a 151-unit building on the surrounding property.
The city is partnering with affordable housing developer Gorman & Company to handle the “complex historic renovation.”
“Our vision for Folio House is to honor Atlanta’s rich history while creating new opportunities for families to live affordably in the city’s urban core,” Gorman & Company Southeast Market President Joel Reed said.
The units will be listed according to the Atlanta-Sandy Springs-Roswell Area median Income. In 2024, the AMI for one person was $75,300. A one-bedroom at 30 percent AMI would cost about $604 in monthly rent. City leaders want the rates to help create an “equitable downtown.”
“By breathing new life into the former Atlanta Constitution building, we’re not only preserving an architectural landmark, we’re building a future where working families can thrive just steps from transit, jobs and everything that makes this city great,” Reed said.
Leave a comment