Curbed-Atlanta reports that the major and controversial redevelopment of Atlanta's 40-acre Gulch, an industrial area divided by rail lines and surface parking lots, is primed for a major transformation that one day might include include restaurants and residential. The Castleberry Hill condo complex is adding a Flying Biscuit restaurant to the mix which may spark more progress. At the same time local groups are opposing changes in the neighborhood.
The new restaurant is expected to take vacant retail space at the foot of Castleberry Point Lofts on Centennial Olympic Park Drive, around the corner from the now-demolished Nelson Street Bridge. Meanwhile, the Gulch is tapped for a potential $5 billion overhaul that would transform the swath of parking lots and railroad tracks into the mixed-use Centennial Yards.
The restaurant signing isn’t “technically [part of Centennial Yards], but I think it’s going to impact the area greatly,” CIM Group spokesman Billy Linville told Curbed Atlanta. As for the Gulch’s monumental looming redevelopment, Linville said, “We’re still waiting on the bond validations.” That’s a reference to a court battle between the City of Atlanta and an activist group called Redlight the Gulch, which has cried foul on CIM Group’s plan to use nearly $2 billion in public funds to support the site’s redo.
The Enterprise Zone Bond Funding—colloquially called EZ bonds, which are backed by sales taxes—would amount to some $1.25 billion, according to the city. And a Fulton County Superior Court judge has said city officials acted lawfully when crafting and approving the incentives package—at least the part that pertains to sales tax support.
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