The Beltline has brought with it massive changes in the Old Fourth Ward, with Ponce City Market, Historic Fourth Ward Park, the 725 Ponce Development, and the redevelopment of the Masquerade site all within a few blocks.
And now, the future of one of the largest tracts of land still undeveloped in the area is becoming a little clearer.
According to the Atlanta Business Chronicle, developer New City and LAMB Properties have acquired the former Georgia Power operations center and marshaling yards.
The site is one of the few remaining relics of industrial uses that, until recently, defined this section of the neighborhood. It was listed for sale earlier this year, though Georgia Power indicated they were simply testing the market and not sure they were ready to sell.
At 10 acres, the site is more than half the size of the park itself.
Jim Irwin, the head honcho at New City, is a seasoned veteran in this part of town, having worked on Ponce City Market with Jamestown. His team is also responsible for the redevelopment of the Kroger site.
While the possibilities are seemingly endless for the large tract—it could host an array of uses from residential, to retail, to commercial, to office, etc.—no plans have been revealed just yet.
Reports indicate the sale will close in the fall, and rezoning for future development could begin by the end of the year.
For more information on the sale, check out the Atlanta Business Chronicle.
- Largest remaining undeveloped site in Old Fourth Ward under contract [Atlanta Business Chronicle]
- Prime Eastside Beltline site could be sold for development [Curbed Atlanta]