UrbanizeAtlNewsBot

UrbanizeAtlNewsBot

Centennial Yards switches gears, plans to build third new hotel Josh Green Mon, 10/07/2024 - 13:32 Another section of the massive, multi-billion-dollar Centennial Yards development is gearing up to move forward downtown, but not as previously planned.

As officials confirm to Urbanize Atlanta, Centennial Yards Company is putting plans together for a third new hotel at the former Gulch site, adding to a pipeline in the former Gulch that includes two hotels under construction now, with thousands of more hotel rooms planned in coming years.

The latest hotel’s 88 Elliott St. site is a long, slender piece of land situated between active rail lines and the historic Castleberry Hill neighborhood.

It’s an empty parcel today, across the street from the former Elliott Street Pub and Atlanta Fire Station No. 1, near the western section of the pedestrians-only Steele Bridge.

Centennial Yards officials initially submitted the project to the city as a multifamily residential building standing a maximum of about five stories, crowned with rooftop decks.

But developers are now seeking a Special Use Permit to build a 127-room hotel on the parcel with an unspecified amount of retail space at street level.

“The commitment to affordable housing within the district remains a priority,” despite the switch in planned uses, Centennial Yards reps wrote via email.

Scope of the site in question, with Mercedes-Benz Stadium depicted at top left. City of Atlanta Department of City Planning

How the previous residential proposal would have met Elliott Street as part of Centennial Yards. [Note: This does not reflect designs for the proposed hotel.] Rendering by Praxis3

Project leaders say no timeline for hotel construction will be available until the SUP and Site Approval Process are completed with city authorities. No renderings or other images for the hotel are available either, per officials.

Just north of the planned hotel site, Centennial Yards’ first ground-up new residential tower, the 304-unit The Mitchell, topped out in August.

Across the street, vertical construction continues on The Mitchell’s sibling project, the 292-key Anthem hotel, with its curving base levels having rounded into shape.

East of those new towers, Centennial Yards Company has also broken ground on an 8-acre, mixed-use entertainment hub anchored by a Cosm entertainment dome with a mid-rise hotel and fan plaza at the center. Those buildings are scheduled to be finished in time for eight FIFA World Cup matches set to be played in Atlanta, beginning in June 2026.

Current plans for Centennial Yards call for more than 2,600 residential units to eventually be built, with 20 percent of those reserved as affordable housing.

Elsewhere will be almost 3,000 hotel rooms in projects ranging from boutique to full-service, alongside more than 900,000 square feet of entertainment and retail space, according to a recent update.

The 88 Elliott St. parcel in relation to the pedestrian Steele Bridge and other Centennial Yards development sites. Google Maps

East facade of the previous residential proposal on site, overlooking the former Gulch and active rail. [Note: This does not reflect designs for the proposed hotel.] Rendering by Praxis3

D.A. Davidson’s Development Finance Group announced last month it had closed $575 million of bonds to fuel Centennial Yards’ 50-acre remake of the former Gulch in coming years. The financial services firm described the downtown megaproject as one of the largest public-private partnerships in the U.S. right now.

Centennial Yards’ infrastructure designs call for creating a dozen city blocks downtown, with a police mini precinct, a new fire station, and public greenspaces tucked among them. It’s expected to cost in the ballpark of $5 billion overall.

Centennial Yards is considered a partnership between the Atlanta Development Authority, the City of Atlanta, and Los Angeles-based developer CIM Group, among other stakeholders.

In an August reader poll asking which of downtown’s major projects will be most impactful and beneficial for the city, Centennial Yards captured 40 percent of more than 1,300 public votes, winning by a significant margin.

The 88 Elliott Street property in question in June, across from the former Elliott Street Pub and Atlanta Fire Station No. 1. Google Maps

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