Norfolk Southern could sell its new headquarters in Midtown five years after the lease begins in 2021, the company said in a recent financial disclosure. Atlanta’s development arm expects the company to stay in place 10 years as part of the $600 million package it provided the company.
Tag: invest atlanta
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Invest Atlanta offering loans to small businesses as part of city’s response to COVID-19
Invest Atlanta has created a new $1.5 million loan fund for small businesses that have been disrupted by the new Coronavirus pandemic.
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Invest Atlanta grants nearly $5 million from TAD funds
“I would hope we can uncover more of these projects … so I’ll give you that challenge.”
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Saved from foreclosure, Atlanta Housing’s London Townhomes project could be “success story” for agency
A humble, decades-old co-op community just inside The Perimeter’s westernmost reaches seemed destined for foreclosure in 2017. But thanks to a collaboration between Atlanta’s housing authority and real estate developer The Benoit Group, the London Townhomes complex is primed for a major upgrade.
Posted inColumns
Federal program extended to foster jobs in low-income areas: A partial win for advocates
A threatened federal program that has helped fund redevelopments throughout Atlanta has been taken off life support – for another year. The Flatiron Building, Christo Rey Atlanta High School, Grady Memorial Hospital and the Tyler Perry studio are among the projects Invest Atlanta has funded through the New Market Tax Credit program.
Posted inMaggie Lee
Atlanta taps the brakes on some developer incentives. It’s not alone.
“It tends to be in what you would say are superstar successful cities …”
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Invest Atlanta okays creation, rehab for 709 affordable housing units
The City of Atlanta’s economic development agency approved bond resolutions that would help fund the construction and restoration of more than 700 affordable apartments.
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Atlanta joins Rockefeller program to jumpstart investment in poorest pockets of city
The idea is to make sure these investments lift all boats, “not just the yachts.”
Posted inMaggie Lee
Developer property tax breaks in hot Atlanta neighborhoods raising questions
Atlanta and Fulton may be winning valuable jobs and investments via property tax discounts to developers; or they may be giving away something they don’t have to.
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Atlanta’s economic development agency to face tighter control by Atlanta City Council
The Atlanta City Council is set to impose greater control over Invest Atlanta, the city’s economic development arm that acts as Atlanta’s agent to promote housing, economic development and redevelopment – all of it under control of a board chaired by the mayor, whose top advisor argued against the council’s exercise of authority.
Posted inMaggie Lee
Construction starts for new housing — with some rent discounts and public subsidies — atop Downtown parking deck
Workforce rent for a two-bedroom apartment would come to $1,347 per month, versus $3,108 at market rate.
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Invest Atlanta reaches legal settlement with CAU; fate of Gaines Hall still unclear
The city of Atlanta’s Invest Atlanta has settled a lawsuit with Clark Atlanta University over a property dispute involving land that used to belong to Morris Brown College – including the historic Gaines Hall.
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Low-cost housing deals for the long haul OK’d by Atlanta development board
Some of the significance here: public ownership of land, which can ensure the low prices don’t expire.
Posted inMaggie Lee
Q and A with Erika Smith, Atlanta’s new Southside community and economic development manager
Atlanta’s got a new Southside community and economic development manager. Erika Smith says she’s looking at things for the Southside from destination dining to helping out mom-and-pop small businesses.
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In bid to lure Norfolk Southern HQ, Atlanta greenlights property tax break
Atlanta’s development agency on Tuesday approved a deal that would make a move to Atlanta nearly $24 million sweeter for Norfolk Southern.
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Norfolk mayor: Norfolk Southern’s move to Atlanta may not occur quickly
Norfolk Southern’s plan to secure up to $600 million in funding for a new office building from Invest Atlanta, the city’s development arm, was deferred Thursday. In addition, Norfolk’s mayor was quoted Thursday saying the company’s move from Norfolk may not happen as soon as some think, and the company’s latest federal financial report portrays it as being in a strong financial position in the booming transportation sector.
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Gulch gets another greenlight; Invest Atlanta approves tax incentive deal
Three days after Atlanta City Council approved public financing for a developer planning a huge rebuild in the Gulch, the city’s economic development authority ratified financial and development deals to advance the project.
Posted inMaggie Lee
Atlanta fund to put “patient” capital to work for affordable housing near transit
In a city that’s building a lot of new transit but not a lot of new low-cost housing, a city agency is trying a new loan fund that would link one to the other.
Posted inColumns
Affordable housing goals meet market realities in proposed Atlanta developments
For starters, the monthly rent is to jump by nearly 50 percent at one proposed apartment complex that’s to replace a planned teardown of duplexes located north of Atlanta’s Oakland Cemetery. This is just one of several developments that may give members of the Atlanta City Council an opportunity to ponder aloud the city’s state of affordable housing.
Posted inColumns
Georgia Aquarium’s financial support from Atlanta in 2009 led to soaring revenues
After Atlanta provided the Georgia Aquarium with $80 million in financing at favorable terms in 2009 to build a dolphin exhibit, the aquarium’s revenues soared by 23 percent, compared to the year before the exhibit opened. The return on the city’s latest financial support for the aquarium – up to $7.5 million – remains to be determined.
