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Mayor Keisha Lance Bottoms Urges Atlanta City Council to Support “Once in a Lifetime” Opportunity to Redevelop Gulch

Post Date:08/21/2018 12:43 PM
Mayor’s Office of Communications
55 Trinity Avenue, Suite 2500 • Atlanta, Georgia 30303

 

Keith Whitney, Director
404-330-6612, office
kswhitney@atlantaga.gov

Michael Smith, Press Secretary
404-546-1465, office
470-372-8752, cell
mismith@atlantaga.gov

 

For Immediate Release: August 21, 2018

Mayor Keisha Lance Bottoms Urges Atlanta City Council to Support “Once in a Lifetime” Opportunity to Redevelop Gulch 

ATLANTA—Mayor Keisha Lance Bottoms urged members of the Atlanta City Council to support a “once in a lifetime” opportunity to redevelop The Gulch.  Currently, the area is an economic dead-zone, often described as “a hole in the ground” that creates zero tax revenue. 

The economic impact of this transformative project will ultimately generate tens of millions of dollars a year in tax revenues and create thousands of jobs for residents of Atlanta and the entire metro area. 

Mayor Bottoms reminded Council that the City of Atlanta would not pay a penny to the development partners. Instead, the CIM Group, a global real estate developer, would assume all the financial risk of the estimated 3.5-5-billion-dollar project and would connect its benefits to the entire city.

“The CIM Group has made a commitment to foster economic development not just in The Gulch and not just in the neighborhoods around The Gulch, but in all twelve districts in the City,” said Mayor Bottoms.

The Gulch would be the biggest mixed-use project of its kind in the entire Southeast. The site would encompass roughly thirty football fields, elevated forty-feet to align it seamlessly with the surrounding streets and infrastructure.

The Mayor also stressed to the Council that the deal would address residents’ affordability concerns. Twenty-percent of all housing in The Gulch would be designated as affordable, with a minimum of 200 units.

While Mayor Bottoms has the lead role in the ongoing negotiations with the CIM Group, she told Council members that their cooperation and insight would be critical to the City’s success in the massive undertaking.

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For more information about the City of Atlanta, please visit www.atlantaga.gov or watch City Channel 26. Follow the City of Atlanta on Facebook and Twitter @CityofAtlanta. Follow Mayor Bottoms on Facebook and Twitter @KeishaBottoms


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