Atlantic Station

Atlantic Station is a huge new urban renewal project nearing completion north of midtown Atlanta. First planned in the mid-1990s, it is on the former brownfield site of Atlantic Steel. It is 138 acres or 56 hectares of mixed-use land development, located on the eastern side of the Downtown Connector where its splits at its north end.

First opened in 1901, the steel mill had been nearly closed in the mid-1970s, staying minimally operational only to avoid the huge cost of cleaning up its own soil contamination. It was then purchased in the 1990s by developer Jim Jacoby, who also redeveloped Florida's Marineland (reopening in 2005).

According to him, 85% of retail space has been leased, as well as 95% of office space, including a mid-rise office tower which will mostly be the former SunTrust (now part of Wachovia) headquarters. The best-known tenant so far is IKEA (open June 29), and a Dillard's and others will open in late October 2005. Several condos and loft-style apartments are already open and most are sold for $300,000 on up. A 16-screen movie theater with about 4000 stadium-style seats is also under construction.

The redevelopment is financed by a combination of private investment, along with a special tax district to pay for city tax bonds for public utilities (streets, sidewalks, and sewers). The new 17th Street Bridge across the Connector (which severed the street when it was built in the 1960s) was built by contractors for the GDOT. The Belt Line is expected to pass through the development later on as well.

The developer hopes Atlantic Station will be known for its energy efficiency and use of renewable energy, and wants it to be LEED-certified for Leadership in Energy and Environmental Design, along with help from Georgia Tech. It is also expected to help relieve further urban sprawl and reduce air pollution by putting many more people within walking distance of most everyday things they need: home, employment, and shopping, as well as public transportation via MARTA.