Atlanta Business Chronicle | Plans filed to kick off Georgia Avenue redevelopment
The long overlooked Summerhill neighborhood is closer to becoming a vibrant, walkable district.
Plans were just filed in Atlanta to kick off the redevelopment of Georgia Avenue, a collection of mural-covered low-rise buildings in Summerhill near the former Turner Field.
Construction is likely to start in October or November. Tenants could start opening in spring or summer 2018.
“Ultimately, we want that street to be a really cool neighborhood destination,” said David Nelson, senior vice president of real estate company Carter.
A joint venture of Carter, Oakwood Development and Healey Weatherholtz Properties owns the buildings along Georgia Avenue. It paid $3.2 million for the property, as Atlanta Business Chronicle reported in February.
It’s about 30,000 square feet. The plan is to add other new buildings along the avenue that blend in with the historic structures.
Eric Kronberg of Kronberg Wall Architects LLC is leading the design, tasked at “breathing life into the existing buildings in a way that really respects the history,” Nelson said.
Colliers International-Atlanta is handling leasing for the project.
“We have one lease signed at this point,” Nelson said. “The rest are letter of intents ... We can’t say any names yet.”
The tenant mix likely will be heavy on food and beverage, he said.
The project is part of a much larger plan with Georgia State University to redevelop the former Turner Field and add new development around it.
The buildings reflect previous challenges to lure investment and new development to the area. They were owned by the Federal Deposit Insurance Corp., which had foreclosed on the properties.
Now, there are high hopes top chefs and retailers will find Georgia Avenue to be affordable, authentic space in an up-and-coming intown neighborhood.
The past five years has proven things can change quickly in such areas. Consider Ponce City Market, where the converted Sears, Roebuck and Co. building was once a largely empty eyesore on Ponce de Leon Avenue and along the Atlanta Beltline. Today, it’s buzzing with people coming for new restaurants and retailers.
By Amy Wenk and Douglas Sams, Staff Writers for the Atlanta Business Chronicle
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