Posted Nov 18, 2019, 2:19 PM
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Join Date: Feb 2005
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CIM Group shops potential retailers for Gulch-transforming Centennial Yards
https://www.bizjournals.com/atlanta/..._news_headline
Quote:
New images show how the potential retail environment could look at Centennial Yards, the 50-acre redevelopment of downtown’s historic Gulch.
Los Angeles developer CIM Group, the group pitching the massive transformation, was at last week’s International Council of Shopping Centers (ICSC) Southeast conference in Atlanta. CIM Group was a featured speaker, had a dealmaking booth and manned a popular doughnut display. The renderings above are from a marketing document handed out at the conference.
"There are roughly 15 million visitors in this particular area with no focus on entertainment or pre- or post-event activities," Crowell said, beyond the major sporting and concert venues. "There's not very much to do in this environment before or after an event. So we hope to create a very activated and pedestrian-focused retail environment ... that offers the opportunity to live, work and play."
Crowell says the plan is to start major infrastructure at the site, including the platform will bring the project up about 40 feet to street level, in the second-quarter of 2020. That infrastructure could take 18 to 24 months to complete, he said.
Meanwhile, CIM Group continues to renovate the former Norfolk Southern buildings that sit on the edge of the Gulch along Ted Turner Drive. Crowell said those buildings would include about 40,000 square feet of retail space, including some sub-grade space for breweries and bars.
A second phase of development would come behind the Norfolk Southern buildings, set to start in second-quarter 2020. In August, CIM Group had filed plans for a six-acre project that could include up to 325 hotel rooms, 386 residential units, almost 200,000 square feet of office space and just over 50,000 square feet of retail space.
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