Cousins Properties team wins Gulch multimodal project

By Douglas Sams and Maria Spaorta
Monday, March 14, 2011

Cousins Properties Inc. has won the right to bid on a project that would turn a downtown Atlanta collection of parking lots and rail-lines known as the “Gulch” into a transit hub.

Cousins (NYSE: CUZ) beat out other local developers including Jacoby Development Inc. and H.J. Russell & Co.

The Georgia Department of Transportation, which has been looking for a master developer to build the terminal, selected Cousins on Monday afternoon.

The DOT has planned to carry out the project through a public-private partnership. The master developer will finance and manage construction of the terminal, then recover its investment from income generated by a transit-friendly commercial, retail and residential complex to be built atop the bus-and-rail station.

Cousins is certainly familiar with the Gulch. As late as 2003, it was mulling the possibility of buying the 16-acre property for a future multimodal station.

The long-awaited multimodal passenger terminal will serve as a hub for bus and rail service radiating from the city.

Maria Saporta, Editor, is a longtime Atlanta business, civic and urban affairs journalist with a deep knowledge of our city, our region and state.  Since 2008, she has written a weekly column and news stories for the Atlanta Business Chronicle. Prior to that, she spent 27 years with The Atlanta Journal-Constitution, becoming its business columnist in 1991. Maria received her Master’s degree in urban studies from Georgia State and her Bachelor’s degree in journalism from Boston University. Maria was born in Atlanta to European parents and has two young adult children.

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