The board of Atlanta’s investment authority on Thursday approved deals that include tax breaks worth $16.1 million over ten years meant to help jumpstart three big developments. But with an eye toward property tax bills going out soon to homeowners, critics asked whether the city needs to be handing out breaks for these works.
A big yellow excavator at Spencer and Walnut streets in Vine City was still on Friday morning — but just for a while, so folks could enjoy a ceremony to mark the groundbreaking for an apartment being built there so that seniors can afford it.
Atlanta received more federal tax credits to spur development in the round of awards announced Tuesday than it did in the previous round, awarded in 2016. Atlanta Mayor Keisha Lance Bottoms heralded the latest award as one of the largest in the country.
Atlanta’s development agency took the first step to selling a piece of prime Midtown Beltline-front property that a developer is eyeing as part of a big mixed-use build. But acknowledging the alarm from some neighbors, Invest Atlanta did impose conditions, including community engagement, for closing the deal.
It’s been more than two years since historic Gaines Hall caught on fire – and little has been done to save one of the oldest and most significant buildings in Atlanta.
Gaines Hall continues to deteriorate in front of our eyes – a victim of the natural elements as well as inadequate fire insurance coverage. The building also has been in the middle of a hotly contested legal battle between the City of Atlanta’s Invest Atlanta and Clark Atlanta University over who owns land that used to belong to Morris Brown College.
The leaders of the the Atlanta agency in charge of attracting investment on Thursday morning approved millions of dollars in sweeteners or tax abatements for developments at Underground, Colony Square and more.
Invest Atlanta is slated to approve Wednesday the final step in a financing deal that will enable construction to resume at the Georgia Proton Treatment Center, in Midtown, just as the Atlanta City Council is poised to appoint a new member to the development authority’s board.
The Houston-based company negotiating to buy the Atlanta Civic Center property has a market cap of $4.05 billion, a regional office in Dunwoody, and has been developing shopping centers and other commercial real estate since 1948 – all of which indicates the company has the wherewithal to create a game-changing development on the northern end of downtown Atlanta.
Georgia State University and Morehouse School of Medicine have received a $400,000 federal grant to promote healthier food and physical activity in black neighborhoods in southwest Atlanta, where rates of diabetes and cardiovascular disease are especially high.
In addition, Atlanta is poised to address the city’s food deserts through a $50,000 grant to a program that’s not related to the GSU/Morehouse partnership, a spokesperson for Invest Atlanta said Thursday.