ATLANTA – A new project in the Old Fourth Ward could radically change the Atlanta skyline.
The multimillion-dollar deal will add 10 acres of shops, offices, and apartments to the area. But some people who live there worry another project could price them out of their homes.
Developer Jim Irvin told 11Alive he met with people in the neighborhoods surrounding the project more than 50 times before they finalized their plans.
In between the art and innovation of the BeltLine and the history and culture of the Old Fourth Ward, sits a parking lot.
PHOTOS | New BeltLine project renderings at Ole Fourth Ward
"It has really been this fortress of surface parking between the BeltLine and Historic Old Fourth Ward Park," Irvin said.
But the 10.2 acres of land near Ponce City Market and the Old Fourth Ward will still have a more distinct name - 760 Ralph McGill. The area will be home to cutting-edge architecture, green spaces, fly-over bridges, and residential housing.
Irwin said when Georgia Power decided to sell the huge piece of property, he was the first in line.
“It’s arguably one of the most important pieces of property in the entire city,” he said.
But with millions of dollars in development, Irwin said they will also keep part of it affordable. A new Atlanta zoning law requires any apartments built in the area include 10 to 15 percent affordable housing – meaning someone who makes less than $40,000 a year could afford to live there.
“We are prepared to deliver on those affordable housing requirements as part of our zoning,” Irwin said.
He said he doesn’t want to push anyone out or change the look of the community there with this project.
“What I didn’t want to do was just build a huge glass structure that you would find in Midtown or Buckhead that didn’t really fit within the context of the community.
Drawings of the planned development show 800,000 square feet of retail space, 700 apartments and a boutique hotel which he hopes will have people all over the country talking.
“We as a city for so long have compared ourselves to other cities,” Irwin said. “I really wish we could be like Chicago in this way, or New York, or San Francisco and compare ourselves to other cities. And with this project, I really want other cities to emulate us.”
They plan to move quickly with this project. Irwin said the latest they’ll break ground is March of 2019. And while it is next to the BeltLine, this is an entirely different project that he said is 100 percent privately funded.
