A $5 billion redevelopment project in Atlanta, named Centennial Yards, will receive substantial public support.
"The city of Atlanta can issue bonds backed by future sales tax dollars to help support an up to $5 billion redevelopment of downtown Atlanta’s Gulch," reports J. Scott Trubey.
A July 3 ruling by Fulton County Superior Court Chief Judge Robert McBurney clears the way for the "developer CIM Group to begin development of a mini-city in a 40-acre dead zone of parking lots and weedy rail beds between Mercedes-Benz Stadium and the Five Points MARTA station," according to Trubey.
The ruling allows the city of Atlanta to issue bonds, "to be repaid by future sales tax revenue generated on the Gulch site." The bonds will be used to "fund vital infrastructure and development of the project," which will be renamed as Centennial Yards.
The decision is controversial in Atlanta, where project opponents say that revenue projections for the development don't prove that sales tax revenue will be enough to cover the costs of the bonds. The Atlanta City Council voted in November to provide $1.9 billion in public money to support the project.
$1.9 Billion Public Financing Plan for Atlanta Mega-Project Headed to Appeal
The sage over The Gulch development project—soon to be renamed Centennial Yards—will continue after project opponents filed an appeal of a June court decision upholding public financing for the project.
$1 Billion Redevelopment Planned for a Former Mall in Cutler Bay, Florida
Mall not making money like it used to? How would a $1 billion redevelopment sound?
Latest Plans for Atlanta's 'The Gulch' Megaproject Focuses on the Public Realm
The latest round of plans and designs released for The Gulch by developer Centennial Yards Company plots increased walkability and urban design choices that respond to the existing built environment.
National Parks Layoffs Will Cause Communities to Lose Billions
Thousands of essential park workers were laid off this week, just before the busy spring break season.
Retro-silient?: America’s First “Eco-burb,” The Woodlands Turns 50
A master-planned community north of Houston offers lessons on green infrastructure and resilient design, but falls short of its founder’s lofty affordability and walkability goals.
Delivering for America Plan Will Downgrade Mail Service in at Least 49.5 Percent of Zip Codes
Republican and Democrat lawmakers criticize the plan for its disproportionate negative impact on rural communities.
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Balancing Bombs and Butterflies: How the National Guard Protects a Rare Species
The National Guard at Fort Indiantown Gap uses GIS technology and land management strategies to balance military training with conservation efforts, ensuring the survival of the rare eastern regal fritillary butterfly.
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