At long last, Georgia Power is getting serious about selling (or at least possibly selling) the company’s buzzkill 10 acres of mostly surface lots beside lovely, functional Historic Fourth Ward Park.
Marketers have opened the bidding process and launched a website for what’s currently being used as a Georgia Power operations center and marshaling yard—but happens to be one of the largest tracts not fully developed along the entire Beltline.
As such, the commercial real estate firm handling the possible sale, JLL, expects interest in the site to pour in from not just local and regional developers but national groups as well.
All bids are due by May 24. No minimum bid amount was specified.
The Georgia Power land even has a SoDoSoPa-esque name now—Eastline at Fourth—and a snazzy new logo:
Currently zoned for industrial use, the 10.2-acre piece sits just west of Two Urban Licks on Ralph McGill Boulevard—surrounded by seas of molten real estate—with the Eastside Trail snaking between both properties.
Georgia Power officials announced last month they would explore selling the keystone property. A press release today stipulates the company is still merely gauging interest from developers.
But the release also says JLL “will oversee the marketing, developer selection, and sales process for the property,” which gives the impression that Georgia Power isn’t all that adverse to letting it go.
JLL officials say the site would support a mix of hotel rooms, retail, offices, and residences.
“The fundamentals of the property suggest a dense, mixed-use project,” said JLL’s Mark Lindenbaum, “given its Atlanta Beltline adjacency, Historic Fourth Ward Park frontage, multiple surface street connections, and a potential future light rail station.”