ATLANTA-Retail plays a dominant role in 13 planned projects at the city's special tax allocation districts. A total 309,000 sf of retail is planned on the east and west sides of Atlanta, along with 2,670 condo and apartment units, 570,000 sf of office and 337 hotel rooms.
The city council has approved seven TADs and will review six more in the next 30 days. The Atlanta Development Authority, headed by Greg Giornelli and his staff, oversees the districts. Under the TAD concept, government bonds finance upfront improvements in areas ripe for development. The resulting increase in tax revenues retires the debt.
Seven projects already have the city's green light on the east side. They include 30 Allen Plaza, a Barry Real Estate development comprising 250,000 sf of office space and 10,000 sf of retail; Novare Group's Twelve Centennial Park, which will have 1,034 condominium units, 102 hotel rooms and 37,000 sf of retail; and Capitol Gateway, made up of private developers partnering with the Atlanta Housing Authority, plans 857 apartments and 43,000 sf of shops and stores.
Also Sweet Auburn Village, developed by the Integral Group and Big Bethel AME Church, plans 164 condos and 27,000 sf of retail; Tribute Lofts, is an InVision project planned for 147 apartments and 5,000 sf of retail; and Oakland Park, being developed by Urban Realty Partners, combines 62 condos with 2,000 sf of retail.
Six west side projects trying to qualify for tax allocation district status are Centennial Park East, an Integral project combining 200 condominiums with about 25,000 sf of retail; 55 Allen Plaza, a Barry Real Estate Co. project with 320,000 sf of office and 20,000 sf of retail; Historic Westside Village, a Trammell Crow and H.J. Russell development planned for 206 condos and townhomes and 51,000 sf of retail; and three Legacy Development Co. projects--Park Pavilion with 125 hotel rooms and 40,000 sf of retail; Glenn Hotel, 110 hotel rooms and 6,000 sf of shops; and Marietta Place with about 43,000 sf of retail.
The new World of Coca-Cola Museum, scheduled to start construction this summer, will total 85,000 sf and is also up for review as a TAD project.
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