After years of planning and battles in court, construction on Centennial Yards, which is the name of Atlanta's new "revitalized downtown" is officially underway.
On Tuesday (April 27) Mayor Keisha Lance Bottoms cut the ribbon to the Lofts at Centennial Yards, the first of several buildings that will make up this $5 billion redevelopment project.
The building will feature 162 loft-style apartments, and will reportedly be available for move-in later this summer. Fifteen percent of the units will be set aside as affordable units, specifically for those making under 80% of the metro-Atlanta area median income.
The lofts will be located at 125 Ted Turner Drive, which use to be the old headquarters of the rail line company, Norfolk-Southern. However, the building has set vacant since 2005.
The lofts have been described as "post-industrial" and loaded with amenities.
The mayor also announced Tuesday that developers have begun work on "The Canyon," a pedestrian walkway that will be lined with new shopping and dining destinations. CIM, the LA-based real estate company leading the project, has agreed to at least 38% of the businesses in the complex being minority and women-owned.
