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The uncertain fate of the Boisfeuillet Jones Atlanta Civic Center may finally have an ending.
Atlanta officials confirmed this week that the city is in talks to sell the aging civic center to the Atlanta Housing Authority for $31M, according to the Atlanta Journal-Constitution. The sales price would include the theater and the surrounding land.
In turn, the AHA, in a joint venture with Texas-based Weingarten Realty, would redevelop the civic center into a mixed-use project that would include residential, retail and office. The agreement with the city would mean the AHA would set aside 30% of the residential units as affordable, Atlanta Housing Authority CEO Catherine Buell told the paper.
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A panelist at Bisnow's Atlanta Affordable Housing event earlier this week, Buell did not make any comment regarding the potential deal. The sale could happen by November, according to the AJC.
This is not Weingarten's first go at redeveloping the Atlanta Civic Center. The developer had negotiated to buy the complex from the city for $30M, a deal in which Weingarten would raze the facility and develop a $300M mixed-use project that included apartments, offices, retail and a park. Those negotiations ended without a sale last year.
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