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.
Midtown took a major step Thursday in its evolution into a hub of high tech business when Atlanta’s development arm approved the issuance of up to $314 million in bonds to help fund the construction and equipping of the future global headquarters of NCR Corp.
A dormitory that’s designed to give a leg up to budding entrepreneurs is to be built at Technology Square, in Midtown, with financial aid from Atlanta’s development arm.
Invest Atlanta has agreed to fund up to $70 million in construction costs of a 230-unit building dubbed, “Tech Square Tower (the Entrepreneur Dorm)”. Only three similar dorms exist in the nation, according to Invest Atlanta – at Stanford, Columbia, and New York universities, with one more to open in 2015 at University of Florida.
The concept is to provide turn-key housing for students who hope to develop some sort of innovative idea, as well as for entrepreneurs who have an office at Tech Square. Residents are to mingle and brainstorm and have access to an on-site mentor, according to the presentation to the board of Invest Atlanta.