Underground Atlanta's Sale Closer To Reality
Underground Atlanta's transformation into a mixed-use project with more than 345K SF of retail and more than a thousand apartment units is closer to reality.
Invest Atlanta approved the master plan by WRS for its $34.6M vision for Underground's redux. Now the plan goes before the Atlanta City Council for approval, with WRS purchasing the site from the city by the end of the month, according to a report by WABE Atlanta.
According to documents filed with Invest Atlanta, the economic development arm for the city, WRS would make a quarter of the apartments affordable, as well as preserve the historic façades of some of the above-ground buildings. Other aspects include a grocery store and plans for a hotel.
According to a timetable provided in documents, the sale should close by the end of March with construction beginning in October of next year. Total project stabilization is projected for June 2022.