Development of Downtown Area to Transform Atlanta
ATLANTA–(BUSINESS WIRE)–CIM Group, a community-focused real estate and infrastructure owner,
operator, and lender, today announced that the vast undeveloped area in
downtown Atlanta known as the Gulch now has a new name: Centennial Yards.
The development of Centennial Yards will feature up to 12 million square
feet across a mix of offices, retail, apartments and hotels that will
rebuild and reconnect 40 acres of an entire city center that has been in
distress and underutilized for decades.
“Now is a prudent time for us to launch the branding of Centennial
Yards. We wanted a name that was authentic, and one that would make
clear where the project was located, while also honoring the history of
the site,” said Devon McCorkle, First Vice President, CIM Group.
The term “Centennial” creates a clear geographical reference to the
project’s location along Centennial Olympic Park Drive. Moreover, with
over 100 years of rail and industrial history at the site, the term
“Yards” is authentic and pays homage to the rail history of the area.
The Gulch was home to an expansive railroad junction that helped shape
the city. However for decades, the Gulch has been a vast, unattractive
mass of parking in the heart of downtown, while the city has grown and
improved around it.
CIM brings its broad experience in owning, developing, repositioning and
operating properties to enhance communities across North America to the
development of Centennial Yards, one of the most complex and
transformative city center developments in the Southeast. The project
will create 12 to 15 new city blocks in downtown for a more dynamic,
vibrant, and connected Atlanta. A new grid will be established with
green-space, open to pedestrians and transit users. Centennial Yards
will be the only project in Atlanta that spans and connects two MARTA
stations.
“CIM is committed to Atlanta for the long term, and we look forward to
being an active member of the community. We want Centennial Yards to be
an example of Atlanta’s leadership, growth, quality of life, and vision
for the future,” said Shannon Crowell, Vice President, CIM Group.
For more information about Centennial Yards please visit: www.centennialyards.com.
ABOUT CIM GROUP
CIM is a community-focused real estate and infrastructure owner,
operator and lender. Since 1994, CIM has led more than $60 billion of
projects in metropolitan communities across the Americas on behalf of
its own account and for its partners and co-investors. CIM’s broad
in-house expertise includes decades of research, acquisition, credit
analysis, development, finance, leasing and property management
experience in real assets located in and serving densely-populated
communities, net-lease assets and other associated credit strategies.
Using its disciplined approach and extensive in-house expertise, CIM
seeks to create value in projects, which ultimately enhances
communities. For more information, visit www.cimgroup.com.
Contacts
Media Contact:
Bill Mendel
Mendel Communications
[email protected]
(212)
397-1030
