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Rezoning applications for the better actual abortive amplitude of acreage on the Beltline’s Eastside Trail could be filed by the end of the year, afterward the auction of the above Georgia Power marshaling backyard to a developer.

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According to the Atlanta Business Chronicle, Atlanta-based New City LLC and LAMB Properties acquired the 10-acre armpit aloof south of the above Masquerade for $34 million. The accord had been in the works for months.

The redevelopment of the parcel, amid amid Historic Fourth Ward Park and the Beltline, would accompany Ponce City Market, New City’s 725 Ponce development, the reincarnation of the Masquerade site, additional hundreds of apartments in a area of Atlanta that’s bugged from a decade ago.

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The New City aggregation is far from a newcomer to this accurate scene.

Jim Irwin, who active up the company, cut his teeth with Jamestown’s Ponce City Market. His firm’s acting offices discount the above Murder Kroger armpit as it transforms into 725 Ponce, area the company’s abiding address will be located.

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The ample bindle awash quickly, with Georgia Power alone alpha to analyze the achievability of a auction in March. Clearly, the economics were favorable.

A timeline for development of the project, and what the angle could attending like, are still uncertain.

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Ponce City Market | ponce city market parking

But accustomed contempo changes nearby, it’s analytic the new development would accommodate some mix of retail, restaurants, residences, and maybe hotel. (Plans for the Beltline’s aboriginal bazaar auberge further south in the Old Fourth Ward accept sputtered). Office amplitude is additionally a abeyant component, accustomed the admeasurement of the site.

For added advice on the sale, analysis out the Atlanta Business Chronicle.

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