By Sean Keenan
Old Fourth Ward’s mixed-use mammoth Ponce City Market is bound for a major expansion, including more than 400 new residences that are supposed to have “accessible price points,” according to a press release from developer Jamestown.
It’s yet unclear what exactly those proposed “hospitality living” units will rent for and whether they’d qualify as “affordable housing” relative to the area median income.
In fact, the whole concept is quite novel, Jamestown representatives told SaportaReport. The units will serve as much as apartments as they do as hotel rooms, with visitors able to stay for a night, a month, a year or longer.
The news of the expansion comes at a time when the neighborhood is gripped by the forces of gentrification — seemingly unending luxury development, rising property taxes and more — and when the COVID-19 pandemic has put a strain on Atlanta’s already dire housing affordability crisis.
All said, Jamestown’s latest plans call for 500,000 square feet of new construction and “neighborhood amenities,” per the release. That space is slated to include a new office building, an outdoor courtyard wrapped in 38,000 square feet of retail and restaurants and those 400-plus new rental-hotel room hybrids.
At the new hospitality living element, the release says: “Residents will also benefit from hotel-like services and amenities, including regular housekeeping and laundry services, a rooftop terrace and pool and in-building storage units. The building will also include around 13,000 square feet of retail space.”
Not exactly characteristics befitting an affordable housing hub.
This story was updated on November 11, 2020 at 1:52 p.m. to clarify that the “hospitality living” units can be rented for as little as a night or as long as an apartment lease.
(Header image, via Jamestown: A rendering of the proposed expansion)
Thanks for the article.
Could you elaborate on those 500,000 sq ft ? Straight up, I’d suppose.