An Aerotropolis for Atlanta
"By fall, Phase 1 - light industrial and parking construction - is expected to be under way. Jacoby Development Inc., the developer that turned an old steel mill into Atlantic Station - a live-work-play mini-city in Midtown - is the developer for the $1.5 billion project. Aerotropolis Atlanta is zoned for office space, hotels, retail, restaurants, a light industrial business park and a 4,000-space airport parking facility. Buildout is expected to take 10 years.
Finding tenants is the real challenge in a recession that has seen many developers abandon construction plans as businesses continue to shrink their workforces and demands for space. Proposals have been floated for the old General Motors plant in Doraville, and plans are being drawn for the redevelopment of Fort Gillem and Fort McPherson once those Army bases close in 2011. But few major projects are moving forward right now."
Thanks to Otis White