SouthState Bank to sell Georgia branches in $475 million deal with investment firm
SouthState Bank to sell Georgia branches in $475 million deal with investment firm
Proceeds of the deal would offset losses from a potential sale of some of SouthState’s investment bonds that carry substantial unbooked losses.
Proceeds of the deal would offset losses from a potential sale of some of SouthState’s investment bonds that carry substantial unbooked losses. Read MoreBizjournals.com Feed (2022-04-02 21:43:57)
Proceeds of the deal would offset losses from a potential sale of some of SouthState’s investment bonds that carry substantial unbooked losses.
Gindi Sells Off Guilford County Apartment Community
Gindi Sells Off Guilford County Apartment Community
Gindi Equities sold the Lindsey Manor Apartments, a 222-unit multifamily community at 472 Lindsey Street in Kernersville, North Carolina, for $34 million, or approximately $153,000 per apartment.
The company says it’s the largest residential transaction of the year in Forsyth County, which encompasses the City of Winston-Salem and a number of rapidly expanding towns, including Kernersville. Acquired by Gindi Equities in October 2021 for $24.5 million, Lindsey Manor features a mix of one- two- and three-bedroom apartments conveniently located near downtown Kernersville.
Gindi Equities completed a series of capital improvements to enhance the property, including apartment interior renovations, a full reroofing, a new dog park and grilling area, and upgrades to the pool and playground.
In September, Gindi Equities sold Greenview Meadows in Gastonia, for $14.5 million. Gindi acquired the 109-unit multifamily community in February 2021 for $10 million.
The post Gindi Sells Off Guilford County Apartment Community appeared first on Connect CRE.
Gindi Equities sold the Lindsey Manor Apartments, a 222-unit multifamily community at 472 Lindsey Street in Kernersville, North Carolina, for $34 million, or approximately $153,000 per apartment. The company says it’s the largest residential transaction of the year in Forsyth County, which encompasses the City of Winston-Salem and a number of rapidly expanding towns, including …
The post Gindi Sells Off Guilford County Apartment Community appeared first on Connect CRE. Read MoreAtlanta & Southeast Commercial Real Estate News
Gindi Equities sold the Lindsey Manor Apartments, a 222-unit multifamily community at 472 Lindsey Street in Kernersville, North Carolina, for $34 million, or approximately $153,000 per apartment. The company says it’s the largest residential transaction of the year in Forsyth County, which encompasses the City of Winston-Salem and a number of rapidly expanding towns, including …
The post Gindi Sells Off Guilford County Apartment Community appeared first on Connect CRE.
Toro Breaks Ground on $560M Johns Creek Project
Toro Breaks Ground on $560M Johns Creek Project
Toro Development Company (“TDC”) has started work on Medley, the $560 million, 43-acre mixed-use community in Johns Creek. Th company expects its grand opening to take place October 29, 2026.
TDC secured financing for the project in November 2024. The deal includes an equity investment from Ascentris and a $158 million construction loan from Banco Inbursa for the first phase.
Located at the corner of McGinnis Ferry Road and Johns Creek Parkway, Medley will encompass 150,000 square feet of retail, restaurant and entertainment space, a 175-key boutique hotel, 110,000 square feet of office, 750 multifamily residences, 133 townhomes built by Empire Communities, and a 25,000-square-foot Plaza.
TDC has lined up more than 25 brands and razed a 350,000-square-foot office building to prepare the site for groundbreaking. Announced retailers for Medley include a neighborhood grocer, Sephora and High Country Outfitters.
The post Toro Breaks Ground on $560M Johns Creek Project appeared first on Connect CRE.
Toro Development Company (“TDC”) has started work on Medley, the $560 million, 43-acre mixed-use community in Johns Creek. Th company expects its grand opening to take place October 29, 2026. TDC secured financing for the project in November 2024. The deal includes an equity investment from Ascentris and a $158 million construction loan from Banco …
The post Toro Breaks Ground on $560M Johns Creek Project appeared first on Connect CRE. Read MoreAtlanta Commercial Real Estate News
Toro Development Company (“TDC”) has started work on Medley, the $560 million, 43-acre mixed-use community in Johns Creek. Th company expects its grand opening to take place October 29, 2026. TDC secured financing for the project in November 2024. The deal includes an equity investment from Ascentris and a $158 million construction loan from Banco …
The post Toro Breaks Ground on $560M Johns Creek Project appeared first on Connect CRE.
Third new hotel in Atlanta’s former Gulch moves forward
Third new hotel in Atlanta’s former Gulch moves forward
Third new hotel in Atlanta’s former Gulch moves forward
Josh Green
Tue, 01/14/2025 – 08:09
A clearer picture has emerged for the next facet of downtown megaproject Centennial Yards as it begins the development process at the doorstep of historic Castleberry Hill.
Centennial Yards Company has filed plans with the city for a Special Use Permit to start building a 127-room hotel and retail space at 88 Elliott St., part of the former Gulch’s western boundary in the shadow of Mercedes-Benz Stadium.
The 68,300-square-foot hotel proposal came before the Atlanta City Council Zoning Committee this week, with filings that shed new light on the project’s potential functionality and scope.
Should it move forward as planned, the mixed-use building would mark the third new Centennial Yards hotel to start sprouting from previously vacant land to date, with much more in the offing. The site is a long, slender parcel situated between active rail lines and Castleberry Hill, across the street from the former Elliott Street Pub and Atlanta Fire Station No. 1.
According to hotel plans filed with the city, an area reserved for outdoor dining will be placed at the Nelson Street pedestrian plaza, where the pedestrians-only Steele Bridge links to Castleberry Hill. Around the corner, two retail spaces are planned at ground level along Elliott Street.
Meanwhile, at the project’s northern end along Mitchell Street, a smaller outdoor seating area would be connected to the hotel’s ground-floor bar and lobby.
Proposed layout for the 88 Elliott St. project, with retail spaces at bottom. The ground floor would be bookended by patios, with the larger one (at right) adjacent to the pedestrian bridge next door. Praxis3
Given the site’s proximity to a “high-capacity transit stop,” no parking is required, but blueprints do call for nine spaces within the building.
Plans also call for more public space—an 8,689-square-foot green area near the curb—than what zoning requires, per the filings.
The property is currently zoned MRC-2-C, which allows for mixed residential and commercial uses, though new buildings at the site are capped at 52 feet tall or less.
As a next step, the hotel project is scheduled to come before the Atlanta City Council at its regular meeting Tuesday.
The 88 Elliott St. property in question in June, across from the former Elliott Street Pub and Atlanta Fire Station No. 1. Google Maps
How the previous residential proposal would have met Elliott Street as part of Centennial Yards. [Note: This does not reflect designs for the proposed hotel, but project leaders have said it’s similar.] Rendering by Praxis3
Centennial Yards officials initially submitted the project to the city as a multifamily residential building standing a maximum of roughly five stories, crowned with rooftop decks.
Project leaders have said no timeline for hotel construction will be available until the SUP and Site Approval Process are completed with city authorities. No updated renderings for the hotel were filed with the city this week, but the design and scope of the hotel aren’t expected to drastically change from the earlier residential proposal.
Just north of the planned hotel site, Centennial Yards’ first ground-up new residential tower, the 304-unit The Mitchell, topped out in August.
Across the street, The Mitchell’s sibling project, the 292-key Hotel Phoenix, officially topped out last month, with a goal of opening sometime this summer.
Both towers broke ground two years ago and now mark the $5-billion megaproject’s first ground-up new construction to stand at max height.
The 88 Elliott St. parcel in relation to the pedestrian Steele Bridge and other Centennial Yards development sites. Google Maps
East facade of the previous residential proposal on site, overlooking the former Gulch and active rail. [Note: This does not reflect designs for the proposed hotel, but project leaders have said it’s similar.]Rendering by Praxis3
East of those buildings, Centennial Yards Company has also broken ground on an 8-acre, mixed-use entertainment hub anchored by a Cosm entertainment dome with a mid-rise hotel and fan plaza at the center.
Those buildings are scheduled to be finished in time for eight FIFA World Cup matches set to be played in Atlanta, beginning in June 2026, officials have said.
Current plans for Centennial Yards call for more than 2,600 residential units to eventually be built, with 20 percent of those reserved as affordable housing. Elsewhere will be almost 3,000 hotel rooms in projects ranging from boutique to full-service, alongside more than 900,000 square feet of entertainment and retail space, according to an update last year.
The 50-acre remake of the former Gulch has been called by its financial backers one of the largest public-private partnerships in the U.S. right now.
Centennial Yards’ infrastructure designs call for creating a dozen city blocks downtown, with a police mini precinct, a new fire station, and public greenspaces tucked among them. The project is considered a partnership between the Atlanta Development Authority, the City of Atlanta, and Los Angeles-based developer CIM Group, among other stakeholders.
Scope of the site in question, with Mercedes-Benz Stadium depicted at top left. City of Atlanta Department of City Planning
…
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• Downtown news, discussion (Urbanize Atlanta)
Proposed layout for the 88 Elliott St. project, with retail spaces at bottom. The ground floor would be bookended by patios, with the larger one (at right) adjacent to the pedestrian bridge next door. Praxis3
Scope of the site in question, with Mercedes-Benz Stadium depicted at top left. City of Atlanta Department of City Planning
The 88 Elliott St. parcel in relation to the pedestrian Steele Bridge and other Centennial Yards development sites. Google Maps
The 88 Elliott St. property in question in June, across from the former Elliott Street Pub and Atlanta Fire Station No. 1. Google Maps
How the previous residential proposal would have met Elliott Street as part of Centennial Yards. [Note: This does not reflect designs for the proposed hotel, but project leaders have said it’s similar.] Rendering by Praxis3
East facade of the previous residential proposal on site, overlooking the former Gulch and active rail. [Note: This does not reflect designs for the proposed hotel, but project leaders have said it’s similar.]Rendering by Praxis3
Third new hotel in Atlanta’s former Gulch moves forward
Josh Green
Tue, 01/14/2025 – 08:09
A clearer picture has emerged for the next facet of downtown megaproject Centennial Yards as it begins the development process at the doorstep of historic Castleberry Hill.
Centennial Yards Company has filed plans with the city for a Special Use Permit to start building a 127-room hotel and retail space at 88 Elliott St., part of the former Gulch’s western boundary in the shadow of Mercedes-Benz Stadium.
The 68,300-square-foot hotel proposal came before the Atlanta City Council Zoning Committee this week, with filings that shed new light on the project’s potential functionality and scope.
Should it move forward as planned, the mixed-use building would mark the third new Centennial Yards hotel to start sprouting from previously vacant land to date, with much more in the offing. The site is a long, slender parcel situated between active rail lines and Castleberry Hill, across the street from the former Elliott Street Pub and Atlanta Fire Station No. 1.
According to hotel plans filed with the city, an area reserved for outdoor dining will be placed at the Nelson Street pedestrian plaza, where the pedestrians-only Steele Bridge links to Castleberry Hill. Around the corner, two retail spaces are planned at ground level along Elliott Street.
Meanwhile, at the project’s northern end along Mitchell Street, a smaller outdoor seating area would be connected to the hotel’s ground-floor bar and lobby.
Proposed layout for the 88 Elliott St. project, with retail spaces at bottom. The ground floor would be bookended by patios, with the larger one (at right) adjacent to the pedestrian bridge next door. Praxis3
Given the site’s proximity to a “high-capacity transit stop,” no parking is required, but blueprints do call for nine spaces within the building.
Plans also call for more public space—an 8,689-square-foot green area near the curb—than what zoning requires, per the filings.
The property is currently zoned MRC-2-C, which allows for mixed residential and commercial uses, though new buildings at the site are capped at 52 feet tall or less.
As a next step, the hotel project is scheduled to come before the Atlanta City Council at its regular meeting Tuesday.
The 88 Elliott St. property in question in June, across from the former Elliott Street Pub and Atlanta Fire Station No. 1. Google Maps
How the previous residential proposal would have met Elliott Street as part of Centennial Yards. [Note: This does not reflect designs for the proposed hotel, but project leaders have said it’s similar.] Rendering by Praxis3
Centennial Yards officials initially submitted the project to the city as a multifamily residential building standing a maximum of roughly five stories, crowned with rooftop decks.
Project leaders have said no timeline for hotel construction will be available until the SUP and Site Approval Process are completed with city authorities. No updated renderings for the hotel were filed with the city this week, but the design and scope of the hotel aren’t expected to drastically change from the earlier residential proposal.
Just north of the planned hotel site, Centennial Yards’ first ground-up new residential tower, the 304-unit The Mitchell, topped out in August.
Across the street, The Mitchell’s sibling project, the 292-key Hotel Phoenix, officially topped out last month, with a goal of opening sometime this summer.
Both towers broke ground two years ago and now mark the $5-billion megaproject’s first ground-up new construction to stand at max height.
The 88 Elliott St. parcel in relation to the pedestrian Steele Bridge and other Centennial Yards development sites. Google Maps
East facade of the previous residential proposal on site, overlooking the former Gulch and active rail. [Note: This does not reflect designs for the proposed hotel, but project leaders have said it’s similar.]Rendering by Praxis3
East of those buildings, Centennial Yards Company has also broken ground on an 8-acre, mixed-use entertainment hub anchored by a Cosm entertainment dome with a mid-rise hotel and fan plaza at the center.
Those buildings are scheduled to be finished in time for eight FIFA World Cup matches set to be played in Atlanta, beginning in June 2026, officials have said.
Current plans for Centennial Yards call for more than 2,600 residential units to eventually be built, with 20 percent of those reserved as affordable housing. Elsewhere will be almost 3,000 hotel rooms in projects ranging from boutique to full-service, alongside more than 900,000 square feet of entertainment and retail space, according to an update last year.
The 50-acre remake of the former Gulch has been called by its financial backers one of the largest public-private partnerships in the U.S. right now.
Centennial Yards’ infrastructure designs call for creating a dozen city blocks downtown, with a police mini precinct, a new fire station, and public greenspaces tucked among them. The project is considered a partnership between the Atlanta Development Authority, the City of Atlanta, and Los Angeles-based developer CIM Group, among other stakeholders.
Scope of the site in question, with Mercedes-Benz Stadium depicted at top left. City of Atlanta Department of City Planning
…
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Tags
88 Elliott Street SW
Centennial Yards
Atlanta Fire Station No. 1
Steele Bridge
Elliott Street Pub
Downtown Development
downtown construction
Atlanta Hotels
Hotels
Gulch
The Gulch
CIM Group
Praxis3
Mercedes-Benz Stadium
Images
Proposed layout for the 88 Elliott St. project, with retail spaces at bottom. The ground floor would be bookended by patios, with the larger one (at right) adjacent to the pedestrian bridge next door. Praxis3
Scope of the site in question, with Mercedes-Benz Stadium depicted at top left. City of Atlanta Department of City Planning
The 88 Elliott St. parcel in relation to the pedestrian Steele Bridge and other Centennial Yards development sites. Google Maps
The 88 Elliott St. property in question in June, across from the former Elliott Street Pub and Atlanta Fire Station No. 1. Google Maps
How the previous residential proposal would have met Elliott Street as part of Centennial Yards. [Note: This does not reflect designs for the proposed hotel, but project leaders have said it’s similar.] Rendering by Praxis3
East facade of the previous residential proposal on site, overlooking the former Gulch and active rail. [Note: This does not reflect designs for the proposed hotel, but project leaders have said it’s similar.]Rendering by Praxis3
Subtitle
Fresh details come to light for next Centennial Yards facet along Elliott Street
Neighborhood
Downtown
Background Image
Image
Associated Project
Centennial Yards – 125 Ted Turner Dr SW
Before/After Images
Sponsored Post
Off Read More
Third new hotel in Atlanta’s former Gulch moves forward
Josh Green
Tue, 01/14/2025 – 08:09
A clearer picture has emerged for the next facet of downtown megaproject Centennial Yards as it begins the development process at the doorstep of historic Castleberry Hill.
Centennial Yards Company has filed plans with the city for a Special Use Permit to start building a 127-room hotel and retail space at 88 Elliott St., part of the former Gulch’s western boundary in the shadow of Mercedes-Benz Stadium.
The 68,300-square-foot hotel proposal came before the Atlanta City Council Zoning Committee this week, with filings that shed new light on the project’s potential functionality and scope.
Should it move forward as planned, the mixed-use building would mark the third new Centennial Yards hotel to start sprouting from previously vacant land to date, with much more in the offing. The site is a long, slender parcel situated between active rail lines and Castleberry Hill, across the street from the former Elliott Street Pub and Atlanta Fire Station No. 1.
According to hotel plans filed with the city, an area reserved for outdoor dining will be placed at the Nelson Street pedestrian plaza, where the pedestrians-only Steele Bridge links to Castleberry Hill. Around the corner, two retail spaces are planned at ground level along Elliott Street.
Meanwhile, at the project’s northern end along Mitchell Street, a smaller outdoor seating area would be connected to the hotel’s ground-floor bar and lobby.
Proposed layout for the 88 Elliott St. project, with retail spaces at bottom. The ground floor would be bookended by patios, with the larger one (at right) adjacent to the pedestrian bridge next door. Praxis3
Given the site’s proximity to a “high-capacity transit stop,” no parking is required, but blueprints do call for nine spaces within the building.
Plans also call for more public space—an 8,689-square-foot green area near the curb—than what zoning requires, per the filings.
The property is currently zoned MRC-2-C, which allows for mixed residential and commercial uses, though new buildings at the site are capped at 52 feet tall or less.
As a next step, the hotel project is scheduled to come before the Atlanta City Council at its regular meeting Tuesday.
The 88 Elliott St. property in question in June, across from the former Elliott Street Pub and Atlanta Fire Station No. 1. Google Maps
How the previous residential proposal would have met Elliott Street as part of Centennial Yards. [Note: This does not reflect designs for the proposed hotel, but project leaders have said it’s similar.] Rendering by Praxis3
Centennial Yards officials initially submitted the project to the city as a multifamily residential building standing a maximum of roughly five stories, crowned with rooftop decks.
Project leaders have said no timeline for hotel construction will be available until the SUP and Site Approval Process are completed with city authorities. No updated renderings for the hotel were filed with the city this week, but the design and scope of the hotel aren’t expected to drastically change from the earlier residential proposal.
Just north of the planned hotel site, Centennial Yards’ first ground-up new residential tower, the 304-unit The Mitchell, topped out in August.
Across the street, The Mitchell’s sibling project, the 292-key Hotel Phoenix, officially topped out last month, with a goal of opening sometime this summer.
Both towers broke ground two years ago and now mark the $5-billion megaproject’s first ground-up new construction to stand at max height.
The 88 Elliott St. parcel in relation to the pedestrian Steele Bridge and other Centennial Yards development sites. Google Maps
East facade of the previous residential proposal on site, overlooking the former Gulch and active rail. [Note: This does not reflect designs for the proposed hotel, but project leaders have said it’s similar.]Rendering by Praxis3
East of those buildings, Centennial Yards Company has also broken ground on an 8-acre, mixed-use entertainment hub anchored by a Cosm entertainment dome with a mid-rise hotel and fan plaza at the center.
Those buildings are scheduled to be finished in time for eight FIFA World Cup matches set to be played in Atlanta, beginning in June 2026, officials have said.
Current plans for Centennial Yards call for more than 2,600 residential units to eventually be built, with 20 percent of those reserved as affordable housing. Elsewhere will be almost 3,000 hotel rooms in projects ranging from boutique to full-service, alongside more than 900,000 square feet of entertainment and retail space, according to an update last year.
The 50-acre remake of the former Gulch has been called by its financial backers one of the largest public-private partnerships in the U.S. right now.
Centennial Yards’ infrastructure designs call for creating a dozen city blocks downtown, with a police mini precinct, a new fire station, and public greenspaces tucked among them. The project is considered a partnership between the Atlanta Development Authority, the City of Atlanta, and Los Angeles-based developer CIM Group, among other stakeholders.
Scope of the site in question, with Mercedes-Benz Stadium depicted at top left. City of Atlanta Department of City Planning
…
Follow us on social media:
Twitter / Facebook/and now: Instagram
• Downtown news, discussion (Urbanize Atlanta)
Tags
88 Elliott Street SW
Centennial Yards
Atlanta Fire Station No. 1
Steele Bridge
Elliott Street Pub
Downtown Development
downtown construction
Atlanta Hotels
Hotels
Gulch
The Gulch
CIM Group
Praxis3
Mercedes-Benz Stadium
Images
Proposed layout for the 88 Elliott St. project, with retail spaces at bottom. The ground floor would be bookended by patios, with the larger one (at right) adjacent to the pedestrian bridge next door. Praxis3
Scope of the site in question, with Mercedes-Benz Stadium depicted at top left. City of Atlanta Department of City Planning
The 88 Elliott St. parcel in relation to the pedestrian Steele Bridge and other Centennial Yards development sites. Google Maps
The 88 Elliott St. property in question in June, across from the former Elliott Street Pub and Atlanta Fire Station No. 1. Google Maps
How the previous residential proposal would have met Elliott Street as part of Centennial Yards. [Note: This does not reflect designs for the proposed hotel, but project leaders have said it’s similar.] Rendering by Praxis3
East facade of the previous residential proposal on site, overlooking the former Gulch and active rail. [Note: This does not reflect designs for the proposed hotel, but project leaders have said it’s similar.]Rendering by Praxis3
Subtitle
Fresh details come to light for next Centennial Yards facet along Elliott Street
Neighborhood
Downtown
Background Image
Image
Associated Project
Centennial Yards – 125 Ted Turner Dr SW
Before/After Images
Sponsored Post
Off
Atlanta firm takes title to Alpharetta office park for steep discount
Atlanta firm takes title to Alpharetta office park for steep discount
The Alpharetta office park deal is another example of how far some office property values have fallen.
The Alpharetta office park deal is another example of how far some office property values have fallen. Read MoreBizjournals.com Feed (2019-09-06 17:16:48)
The Alpharetta office park deal is another example of how far some office property values have fallen.
Atlanta firm takes title to Alpharetta office park for steep discount
Atlanta firm takes title to Alpharetta office park for steep discount
The Alpharetta office park deal is another example of how far some office property values have fallen.
The Alpharetta office park deal is another example of how far some office property values have fallen. Read MoreBizjournals.com Feed (2022-04-02 21:43:57)
The Alpharetta office park deal is another example of how far some office property values have fallen.
Atlanta officials seek help in filling former 44-acre park with housing
Atlanta officials seek help in filling former 44-acre park with housing
Gun Club Park could be turned into a sprawling development with detached single-family homes, townhomes and small apartment buildings.
Gun Club Park could be turned into a sprawling development with detached single-family homes, townhomes and small apartment buildings. Read MoreBizjournals.com Feed (2019-09-06 17:16:48)
Gun Club Park could be turned into a sprawling development with detached single-family homes, townhomes and small apartment buildings.
Atlanta officials seek help in filling former 44-acre park with housing
Atlanta officials seek help in filling former 44-acre park with housing
Gun Club Park could be turned into a sprawling development with detached single-family homes, townhomes and small apartment buildings.
Gun Club Park could be turned into a sprawling development with detached single-family homes, townhomes and small apartment buildings. Read MoreBizjournals.com Feed (2022-04-02 21:43:57)
Gun Club Park could be turned into a sprawling development with detached single-family homes, townhomes and small apartment buildings.
Forsyth County megaproject passes ‘pivotal’ development hurdle
Forsyth County megaproject passes ‘pivotal’ development hurdle
Forsyth County megaproject passes ‘pivotal’ development hurdle
Josh Green
Mon, 01/13/2025 – 14:38
With National Hockey League royalty on hand for support, a massive Forsyth County proposal that aims to lure professional hockey back to metro Atlanta has notched another pre-development victory, though significant logistical hurdles remain.
The Forsyth County Commission on Thursday voted to approve a zoning overlay that’s required to bring 100-acre, mixed-use megaproject The Gathering at South Forsyth to fruition. NHL Hall of Famer Bobby Orr was on hand as a “special guest” to show support for the proposal, which would include an NHL-ready, multipurpose arena as an anchor component, per its supporters.
The Gathering’s developer, Vernon Krause, a car dealership mogul and head of Krause Sports and Entertainment, called the commissioners’ zoning approval a “pivotal decision” and another “major step in realizing our visionary and transformative mixed-use project” in a statement following the vote.
Krause said his team remains committed to bringing an NHL expansion franchise to metro Atlanta as the marquee attraction of the ambitious new district, which is expected to cost in excess of $3 billion, with $1 billion of that funding the cornerstone arena that would also stage concerts and events. NHL insiders dropped hints on social media following last week’s vote that helped feed the flames of a rumored expansion in the northern suburbs, with Orr somehow involved.
How the 100-acre project would be positioned where Ronald Reagan Boulevard meets Union Hill Road along Ga. Highway 400.The Gathering at South Forsyth; designs, Nelson
NHL Hall of Famer Bobby Orr (third from left) joined development spearhead Vernon Krause (second from right) in support of The Gathering project at last week’s Forsyth County Commission meeting. Courtesy of The Gathering at South Forsyth
In any case, the blessing from county government marks another win for The Gathering.
In November, Forsyth County residents voted strongly in favor of a referendum that allows county leaders to create a Tax Allocation District to pay for the county’s $225 million portion of the district. That vote two months ago also green-lighted The Gathering’s leadership to start finalizing project details “so we can demonstrate [it] is truly shovel-ready and has full community support,” Krause said at the time.
The proposal for one of Georgia’s fastest-growing and most affluent counties first started coming to light in spring 2023 with promises of potentially luring an NHL franchise back to the Peach State, while building nearly 2,000 new homes and a whopping 1.6 million square feet of buildings devoted to retail, office, and hotel uses.
Forsyth County leadership approved plans last year for providing up to $225 million in future property taxes to help make The Gathering a reality—but only if the new district secures an NHL franchise. (The development team had asked the county for $390 million in incentives.)
The NHL’s reported unwillingness to expand could be a roadblock, however.
The league’s commissioner, Gary Bettman, told the Toronto Star in September no expansion plans beyond the NHL’s current 32 teams are on the horizon, despite well-documented interest in metro Atlanta (in South Forsyth and Alpharetta) and in Houston.
The Gathering at South Forsyth; designs, SCI Architects
The Gathering’s supporters say the TAD is projected to repay the county its $225 million contribution in 12 to 15 years. After that, the estimated $40 million in property tax revenue generated by The Gathering would be channeled to county coffers and Forsyth County Schools, according to Krause and company.
For a refresher on what The Gathering at South Forsyth could ultimately entail, according to the latest project renderings, swing up to the gallery above.
…
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• Forsyth County news, discussion (Urbanize Atlanta)
How the 100-acre project would be positioned where Ronald Reagan Boulevard meets Union Hill Road along Ga. Highway 400.The Gathering at South Forsyth; designs, Nelson
A main street and retail corridor in the multi-billion-dollar proposal. The Gathering at South Forsyth; designs, Nelson
The Gathering at South Forsyth; designs, Nelson
Closer look at a planned Gathering greenspace that would act as a centralized social hub. The Gathering at South Forsyth; designs, Nelson
Where the Gathering at South Forsyth arena and other buildings would be located next to Ga. Highway 400. The Gathering at South Forsyth; designs, Nelson
The Gathering at South Forsyth; designs, Nelson
The Gathering at South Forsyth; designs, Nelson
The Gathering at South Forsyth; designs, SCI Architects
The Gathering at South Forsyth; designs, SCI Architects
The Gathering at South Forsyth; designs, SCI Architects
The Gathering at South Forsyth; designs, SCI Architects
NHL Hall of Famer Bobby Orr (third from left) joined development spearhead Vernon Krause (second from right) in support of The Gathering project at last week’s Forsyth County Commission meeting. Courtesy of The Gathering at South Forsyth
Forsyth County megaproject passes ‘pivotal’ development hurdle
Josh Green
Mon, 01/13/2025 – 14:38
With National Hockey League royalty on hand for support, a massive Forsyth County proposal that aims to lure professional hockey back to metro Atlanta has notched another pre-development victory, though significant logistical hurdles remain.
The Forsyth County Commission on Thursday voted to approve a zoning overlay that’s required to bring 100-acre, mixed-use megaproject The Gathering at South Forsyth to fruition. NHL Hall of Famer Bobby Orr was on hand as a “special guest” to show support for the proposal, which would include an NHL-ready, multipurpose arena as an anchor component, per its supporters.
The Gathering’s developer, Vernon Krause, a car dealership mogul and head of Krause Sports and Entertainment, called the commissioners’ zoning approval a “pivotal decision” and another “major step in realizing our visionary and transformative mixed-use project” in a statement following the vote.
Krause said his team remains committed to bringing an NHL expansion franchise to metro Atlanta as the marquee attraction of the ambitious new district, which is expected to cost in excess of $3 billion, with $1 billion of that funding the cornerstone arena that would also stage concerts and events. NHL insiders dropped hints on social media following last week’s vote that helped feed the flames of a rumored expansion in the northern suburbs, with Orr somehow involved.
How the 100-acre project would be positioned where Ronald Reagan Boulevard meets Union Hill Road along Ga. Highway 400.The Gathering at South Forsyth; designs, Nelson
NHL Hall of Famer Bobby Orr (third from left) joined development spearhead Vernon Krause (second from right) in support of The Gathering project at last week’s Forsyth County Commission meeting. Courtesy of The Gathering at South Forsyth
In any case, the blessing from county government marks another win for The Gathering.
In November, Forsyth County residents voted strongly in favor of a referendum that allows county leaders to create a Tax Allocation District to pay for the county’s $225 million portion of the district. That vote two months ago also green-lighted The Gathering’s leadership to start finalizing project details “so we can demonstrate [it] is truly shovel-ready and has full community support,” Krause said at the time.
The proposal for one of Georgia’s fastest-growing and most affluent counties first started coming to light in spring 2023 with promises of potentially luring an NHL franchise back to the Peach State, while building nearly 2,000 new homes and a whopping 1.6 million square feet of buildings devoted to retail, office, and hotel uses.
Forsyth County leadership approved plans last year for providing up to $225 million in future property taxes to help make The Gathering a reality—but only if the new district secures an NHL franchise. (The development team had asked the county for $390 million in incentives.)
The NHL’s reported unwillingness to expand could be a roadblock, however.
The league’s commissioner, Gary Bettman, told the Toronto Star in September no expansion plans beyond the NHL’s current 32 teams are on the horizon, despite well-documented interest in metro Atlanta (in South Forsyth and Alpharetta) and in Houston.
The Gathering at South Forsyth; designs, SCI Architects
The Gathering’s supporters say the TAD is projected to repay the county its $225 million contribution in 12 to 15 years. After that, the estimated $40 million in property tax revenue generated by The Gathering would be channeled to county coffers and Forsyth County Schools, according to Krause and company.
For a refresher on what The Gathering at South Forsyth could ultimately entail, according to the latest project renderings, swing up to the gallery above.
…
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How the 100-acre project would be positioned where Ronald Reagan Boulevard meets Union Hill Road along Ga. Highway 400.The Gathering at South Forsyth; designs, Nelson
A main street and retail corridor in the multi-billion-dollar proposal. The Gathering at South Forsyth; designs, Nelson
The Gathering at South Forsyth; designs, Nelson
Closer look at a planned Gathering greenspace that would act as a centralized social hub. The Gathering at South Forsyth; designs, Nelson
Where the Gathering at South Forsyth arena and other buildings would be located next to Ga. Highway 400. The Gathering at South Forsyth; designs, Nelson
The Gathering at South Forsyth; designs, Nelson
The Gathering at South Forsyth; designs, Nelson
The Gathering at South Forsyth; designs, SCI Architects
The Gathering at South Forsyth; designs, SCI Architects
The Gathering at South Forsyth; designs, SCI Architects
The Gathering at South Forsyth; designs, SCI Architects
NHL Hall of Famer Bobby Orr (third from left) joined development spearhead Vernon Krause (second from right) in support of The Gathering project at last week’s Forsyth County Commission meeting. Courtesy of The Gathering at South Forsyth
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NHL legend supports The Gathering at South Forsyth as it edges closer to groundbreaking, per leadership
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Forsyth County megaproject passes ‘pivotal’ development hurdle
Josh Green
Mon, 01/13/2025 – 14:38
With National Hockey League royalty on hand for support, a massive Forsyth County proposal that aims to lure professional hockey back to metro Atlanta has notched another pre-development victory, though significant logistical hurdles remain.
The Forsyth County Commission on Thursday voted to approve a zoning overlay that’s required to bring 100-acre, mixed-use megaproject The Gathering at South Forsyth to fruition. NHL Hall of Famer Bobby Orr was on hand as a “special guest” to show support for the proposal, which would include an NHL-ready, multipurpose arena as an anchor component, per its supporters.
The Gathering’s developer, Vernon Krause, a car dealership mogul and head of Krause Sports and Entertainment, called the commissioners’ zoning approval a “pivotal decision” and another “major step in realizing our visionary and transformative mixed-use project” in a statement following the vote.
Krause said his team remains committed to bringing an NHL expansion franchise to metro Atlanta as the marquee attraction of the ambitious new district, which is expected to cost in excess of $3 billion, with $1 billion of that funding the cornerstone arena that would also stage concerts and events. NHL insiders dropped hints on social media following last week’s vote that helped feed the flames of a rumored expansion in the northern suburbs, with Orr somehow involved.
How the 100-acre project would be positioned where Ronald Reagan Boulevard meets Union Hill Road along Ga. Highway 400.The Gathering at South Forsyth; designs, Nelson
NHL Hall of Famer Bobby Orr (third from left) joined development spearhead Vernon Krause (second from right) in support of The Gathering project at last week’s Forsyth County Commission meeting. Courtesy of The Gathering at South Forsyth
In any case, the blessing from county government marks another win for The Gathering.
In November, Forsyth County residents voted strongly in favor of a referendum that allows county leaders to create a Tax Allocation District to pay for the county’s $225 million portion of the district. That vote two months ago also green-lighted The Gathering’s leadership to start finalizing project details “so we can demonstrate [it] is truly shovel-ready and has full community support,” Krause said at the time.
The proposal for one of Georgia’s fastest-growing and most affluent counties first started coming to light in spring 2023 with promises of potentially luring an NHL franchise back to the Peach State, while building nearly 2,000 new homes and a whopping 1.6 million square feet of buildings devoted to retail, office, and hotel uses.
Forsyth County leadership approved plans last year for providing up to $225 million in future property taxes to help make The Gathering a reality—but only if the new district secures an NHL franchise. (The development team had asked the county for $390 million in incentives.)
The NHL’s reported unwillingness to expand could be a roadblock, however.
The league’s commissioner, Gary Bettman, told the Toronto Star in September no expansion plans beyond the NHL’s current 32 teams are on the horizon, despite well-documented interest in metro Atlanta (in South Forsyth and Alpharetta) and in Houston.
The Gathering at South Forsyth; designs, SCI Architects
The Gathering’s supporters say the TAD is projected to repay the county its $225 million contribution in 12 to 15 years. After that, the estimated $40 million in property tax revenue generated by The Gathering would be channeled to county coffers and Forsyth County Schools, according to Krause and company.
For a refresher on what The Gathering at South Forsyth could ultimately entail, according to the latest project renderings, swing up to the gallery above.
…
Follow us on social media:
Twitter / Facebook/and now: Instagram
• Forsyth County news, discussion (Urbanize Atlanta)
Tags
Union Hill Road at Ronald Reagan Boulevard
The Gathering at South Forsyth
NHL
Hockey
Professional Hockey
Cumming
South Forsyth
Forsyth County
Stafford Sports
Vernon Krause
Carl Hirsch
The Battery Atlanta
Nelson Architects
Kimley-Horn
Kimley-Horn & Associates
SCI Architects
Stone Planning
Dovin Ficken
Greenberg Traurig
Arizona State University
Sun Devil Athletics
JLL
Novus Innovation Corridor
Atlanta Regional Commission
Alexander Babbage
Atlanta Surveys
Surveys
Cumming City Center
NOFO Brewing
Referendum
Forsyth County Referendum
Bobby Orr
Images
How the 100-acre project would be positioned where Ronald Reagan Boulevard meets Union Hill Road along Ga. Highway 400.The Gathering at South Forsyth; designs, Nelson
A main street and retail corridor in the multi-billion-dollar proposal. The Gathering at South Forsyth; designs, Nelson
The Gathering at South Forsyth; designs, Nelson
Closer look at a planned Gathering greenspace that would act as a centralized social hub. The Gathering at South Forsyth; designs, Nelson
Where the Gathering at South Forsyth arena and other buildings would be located next to Ga. Highway 400. The Gathering at South Forsyth; designs, Nelson
The Gathering at South Forsyth; designs, Nelson
The Gathering at South Forsyth; designs, Nelson
The Gathering at South Forsyth; designs, SCI Architects
The Gathering at South Forsyth; designs, SCI Architects
The Gathering at South Forsyth; designs, SCI Architects
The Gathering at South Forsyth; designs, SCI Architects
NHL Hall of Famer Bobby Orr (third from left) joined development spearhead Vernon Krause (second from right) in support of The Gathering project at last week’s Forsyth County Commission meeting. Courtesy of The Gathering at South Forsyth
Subtitle
NHL legend supports The Gathering at South Forsyth as it edges closer to groundbreaking, per leadership
Neighborhood
Forsyth County
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Amazon VP talks data center investment in Georgia: ‘A lot of opportunities for growth’
Amazon VP talks data center investment in Georgia: ‘A lot of opportunities for growth’
Amazon Web Services is not the only major tech company or data center developer eyeing the state, but the Seattle-based company now has a foothold in the state.
Amazon Web Services is not the only major tech company or data center developer eyeing the state, but the Seattle-based company now has a foothold in the state. Read MoreBizjournals.com Feed (2019-09-06 17:16:48)
Amazon Web Services is not the only major tech company or data center developer eyeing the state, but the Seattle-based company now has a foothold in the state.