Centennial Yards
| Location | Atlanta, Georgia |
|---|---|
| Coordinates | 33°45′18″N 84°23′47″W / 33.7550°N 84.3963°W |
| Status | Under construction |
| Groundbreaking | 2024 |
| Website | centennialyards |
| Companies | |
| Developer | Centennial Yards Company (CIM Group) |
| Technical details | |
| Cost | US$5,000,000,000 |
| Size | 50 acres (20 ha) |
Centennial Yards is a mixed-use development project in Downtown Atlanta, Georgia. The project, located in the area known as The Gulch, aims to transform former railyards into a vibrant district featuring residential, commercial, and entertainment spaces.[1]
History
[edit]The site of Centennial Yards was historically a central hub for Atlanta’s railroad industry, contributing to the city's economic growth in the 19th and 20th centuries. The area, often referred to as "The Gulch," remained largely undeveloped for decades due to infrastructure challenges.
In 2018, the Atlanta City Council approved a public financing package that included up to $1.9 billion in tax incentives to support redevelopment efforts in the area.[2] The developers can use future sales and property tax revenue generated on-site to help finance the development.[3] This unique public financing deal in Atlanta could total around $1.9 billion in bonds and reimbursements by 2048.[3] Atlanta's development authority approved the issuance of some $557 million in bonds to help support construction of the entertainment district.[4]
The development is led by the Los Angeles-based real estate firm CIM Group, in partnership with the City of Atlanta and private investors. The developers plan to finish a 304-unit apartment complex, two hotels, and 95,000 square feet of retail space, and a Cosm entertainment venue, by the 2026 FIFA World Cup.[5] In May 2025, Live Nation announced it would lease Centennial Yards' music venue.[5]
Development
[edit]Centennial Yards is a multi-phase project expected to be completed by 2030. The $5 billion development covers approximately 50 acres and is planned to include:
- Over 4 million square feet of office space
- More than 1,000 hotel rooms
- Around 1,000 residential units[6]
- Retail, dining, and entertainment spaces
- A Cosm entertainment venue[7]
- A 5,300-capacity music venue leased by Live Nation[5]
The development is strategically located near major Atlanta landmarks, including:
Impact
[edit]Centennial Yards is expected to reshape Downtown Atlanta by attracting businesses, residents, and tourists. The project is also seen as a key step in enhancing Atlanta’s urban core and addressing underutilized land.
Transit
[edit]Centennial Yards plan does not currently include a downtown multi-modal passenger rail terminal, despite the site's ideal transit location between two MARTA stations - Five Points, and GWCC/CNN Center stations.[3] While future commuter rail is still a possibility, a terminal is not part of current plans.[3] Long-standing visions for a major transit hub at The Gulch have stalled due to lack of state and city support, and a major setback occurred in 2013 when Norfolk Southern stated it couldn't accommodate commuter rail on its tracks.[3]
Several MARTA stations, including the Five Points, GWCC/CNN Center and Vine City stations, will provide pedestrian access to Centennial Yards and neighboring event venues.[8]
See also
[edit]References
[edit]- ^ King, Christopher (November 2, 2024). "Centennial Yards: Atlanta's $5B mega-project to revitalize Downtown area". FOX 5 Atlanta. Retrieved March 28, 2025.
- ^ Lybbert, Randy (November 6, 2018). "Atlanta City Council Narrowly Approves Gulch Development Deal". WABE. Retrieved May 15, 2025.
- ^ a b c d e Trubey, J. Scott. "The Atlanta Gulch deal explained: What you need to know about the proposal". The Atlanta Journal-Constitution. ISSN 1539-7459. Retrieved May 15, 2025.
- ^ Hansen, Zachary. "Centennial Yards starting entertainment district, limits Gulch parking". The Atlanta Journal-Constitution. ISSN 1539-7459. Retrieved May 15, 2025.
- ^ a b c Picciotto, Rebecca. "Exclusive | Live Nation Buys Into $5 Billion Master Plan to Revive Atlanta's Downtown". WSJ. Retrieved May 15, 2025.
- ^ Quinn, Patrick (October 19, 2024). "Centennial Yards opts out of affordable housing units in first apartment tower". Atlanta News First. Retrieved March 28, 2025.
- ^ Murry, Kenny (August 21, 2024). "State-of-the-art entertainment facility COSM announced for Centennial Yards in downtown Atlanta". WABE. Retrieved March 28, 2025.
- ^ Hansen, Zachary. "Centennial Yards starting entertainment district, limits Gulch parking". The Atlanta Journal-Constitution. ISSN 1539-7459. Retrieved May 15, 2025.