UNDERGROUND ATLANTA SOLD: New Mixed Use Development

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About an hour ago, 

Four news outlets reported that Mayor Reed is expected to make an announcement tomorrow that Underground Atlanta has been sold to the Mount Pleasant,  South Carolina Developer WRS, Inc.

The plan is to refresh the subterranean mall with new stores, restaurants, a grocery store and construct new residential buildings above ground.  The total investment has been estimated at $100-250 million. According to the Sapporta Report, the development would be upscale and the Underground would “feel like a residential living room”. Mayor Reed on Sapporta Report: “When you get to Five Points, it should look and feel completely different than it does today.”

It would be great for Atlanta to have a large residential development at Five Points, with a grocery store. This would be the critical mass that Downtown has needed to become a true growing residential neighborhood.  Already, thousands are living in the many lofts from Castleberry Hill to the Fairlie-Poplar District to Georgia State University. And the new Atlanta Streetcar is expected to be expanded down to the Turner Field redevelopment.

See more at: http://saportareport.com/blog/2014/12/city-to-announce-its-selling-underground-for-25-75-million-to-wrs-inc/#sthash.yH1UZBld.dpuf

The following are some images from Google of the Horizon Development being planned in Charleston, SC– by WRS developers:

I will keep you updated with future news of the Underground redevelopment.

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WRS – Charleston Horizon
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WRS – Charleston Horizon
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WRS – Charleston Horizon
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WRS – Charleston Horizon

 

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