Bonds For Booze: Atlanta Brewery Could Get Revenue Bond For Beer Garden
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A local brewery is looking to get some industrial revenue bonds along with its suds.
New Realm Brewing Co. is seeking approval from Atlanta's economic development arm for $10M in industrial development revenue bonds for a brewery and restaurant/beer garden in the Old Fourth Ward to help finance the construction and equipment for the brewery.
The project, named American Beerworks, will see New Realm transform 820 Ralph McGill Blvd. into a 17,300 SF brewery with 8,700 SF of restaurant, bar and event space as well as a 4K SF rooftop patio, according to documents filed with Invest Atlanta.
The $15M project is expected to create 60 new jobs earning an average of $26,500/year, and could have a total economic impact of more than $21M, according to Invest Atlanta.
The organization is scheduled to vote on the bond resolution Thursday.
New Realm is the brainchild of Mitch Steele, the former brewmaster for California-based Stone Brewing Co. The facility will be located next to the popular restaurant Two Urban Licks.