The city of Atlanta has approved its largest development project since the 1960s.
"After more than 10 hours of debate and deliberation on Monday, the Atlanta City Council approved nearly $1.9 billion in public subsidies for a downtown development that will permanently reshape the city’s skyline," reports Dan Klepal.
The Gulch development, as the planned mega-project is called, will total $5 billion in investment, "[creating] a forest of office towers, residences, hotels and retail space on 40 acres that stretch from the CNN Center to the Richard B. Russell Federal Courthouse."
The victory comes as a major victory for first-year Mayor Keisha Bottoms, who supported the project.
Still:
The project polarized much of the community: Supporters see it as an investment in jobs, affordable housing and economic development, while critics complain the project was rushed through without sufficient public input and will further income inequality and gentrification.
Julian Bene, an opponent of the plan who previously served on the Invest Atlanta board, said Bottoms and project supporters on the city council will be long gone when the cost of the plan hits home.
More details on the subsidies and approvals the approved ordinances put in motion are included in the source article.
FULL STORY: Atlanta City Council approves $1.9 billion subsidy package for Gulch project
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Court Ruling Clears $1.9 Billion in Public Money for Atlanta Mega-Project
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The city of Atlanta approved its largest development project since the 1960s back in November, but still needed the school district to sign off on a funding plan to help for the $1.9 billion in public subsidies that will support the project.
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