It appears Ponce City Market has its first tenant — and it's a helluva start. The AJC reports that Athenahealth, a major health care software firm, is in final talks with the redevelopers of the Ponce de Leon Avenue landmark formerly known as City Hall East. According to the paper's sources, the firm has signed a letter of intent to lease significant space in the mixed-use development and would bring 100 jobs (with plans for hundreds more) along with it in a move from Alpharetta (take that, 'burbs). It's not the most glamorous news, for sure, but it would be a big first get for the 2.1-million square-foot mega-complex being developed by Jamestown Properties.
The job total could eventually swell beyond 500, reportedly, and the projected average salary is a solidly white-collar $65K. An official announcement on the agreement is expected in the coming days, the AJC said. The Atlanta Business Chronicle, also citing an anonymous source, puts the eventual jobs tally at 700.
Jamestown bought the former City Hall East — originally a Sears complex — for $27 million in July 2011. You heard it here first that they've nixed original plans to include for-own condos, but the ginormous complex is still slated to include "extraordinarily high-quality rental units," retail space, office space and restaurants. No other possible tenants have been announced. Perched directly along the Beltline, the big ol' brick building is supposed to be fully renovated and open sometime next spring. Apartment rental offices are scheduled to be up and running within the next few months.
— By Curbed Atlanta contributor Tyler Estep