Anonymous Developer Proposes $500 Million Project in Atlanta

A mixed-use development in Southwest Atlanta could bring more than $500 million in investment, but the developer’s identity and the exact location are hidden.

The development, known as “Project Nexus,” could rise somewhere south of Interstate 20, straddling the cities of Atlanta and East Point, the Atlanta Business Chronicle reported.

The development would repurpose “an underutilized and distressed property” into more than 1,100 units of mixed-income housing and nearly 170,000 square feet of retail, including restaurants, grocery stores, health care services, child care and financial services, according to a meeting agenda.

The Development Authority of Fulton County is considering granting the mystery developer almost $23 million in tax incentives for the project.

The development site is near Hartsfield-Jackson Atlanta International Airport, a major economic driver for the region, and it’s close to South Fulton County’s expanding logistics and data center industry.

It would bring much-needed investment to a historically overlooked area, said Kwanza Hall, chairman of the development authority, which is also known as Develop Fulton.

Hall indicated that the developer’s identity and the location of the development site would be revealed if the development authority approves the project.

The city of East Point recently made plans for the redevelopment of a former glass bottle manufacturing plant at 3107 Sylvan Road.That 55-acre site could be redeveloped with office, a hotel and residential.

Recent projects in Southwest Atlanta include the acquisition of the historic Friedman’s Shoes building on Mitchell Street by Tech Village founders, who plan to integrate it into their 53-piece portfolio, focusing on revitalizing South Downtown.

Additionally, the Atlanta Beltline is advancing a $270 million mixed-use development in the Bankhead neighborhood, which will include affordable housing and commercial space.