The redevelopment of Underground Atlanta promises to play a key role in a transformation underway downtown, and the project’s developer, WRS, is teasing plans for the next phase of the complex’s revival.
“Block One,” the roughly 2-acre site enveloped by Peachtree Street, Alabama Street, Central Avenue, and Wall Street, is slated to see increased density, new residences, retail, and hotel space during its “transit-oriented” overhaul.
Leaders of the multiphase venture are sounding as confident as ever.
JLL recently joined the project, tasked with bringing development partners on board for Block One’s vertical construction, which will likely yield an apartment tower, a hotel tower, retail and (maybe) office space, and “limited parking,” according to JLL.
The group expects the finished product to attract international attention because of its primo location and access to transportation options.
“Being adjacent to the Five Points MARTA Station makes for the most compelling TOD (Transit Oriented Development) project in the City of Atlanta. Nowhere else can you travel North, South, East or West on MARTA,” said JLL’s Mark Lindenbaum, according to a press release.
Elsewhere intown, JLL has helped out with Georgia Power’s 760 Ralph McGill Boulevard sale to New City Properties and Sotherly Hotels’s 693 Peachtree sale to JPX Works for the lilli Midtown project, among other deals.
“Downtown Atlanta has seen unprecedented investment over the past several years, positioning the neighborhood to continue its evolution into one of the most dynamic in the city,” said Scott Cullen, another JLL rep.
Project spokespeople did not respond to an email asking if JLL had secured any tenants for Underground as of late. We’ll update with any new information that comes.
In the meantime, below are renderings for another in-development Underground section—Block 3—released earlier this year.
This story has been updated to clarify that WRS has not announced any new tenants as of late, although some are expected to be debuted in coming months, as well as to clarify that JLL is not the property manager, but rather a broker and tasked with finding development partners for Block One.