Midtown Alliance completes $46 million sale for new public greenspace
The project for a new greenspace in midtown Atlanta took another step this week.
Midtown Alliance closed its sale for four acres off 14th Street, where it plans to turn the undeveloped property into a public greenspace.
President and CEO Kevin Green confirmed to Channel 2 Action News that the final purchase price was $46 million.
Green said that's about $263 per square foot, which is below midtown's average land sale price of $415 per square foot since 2020.
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Channel 2 Action News first reported in March about plans to develop the property between Peachtree Street and West Peachtree Street near the Arts Center, MARTA station and Colony Square.
There have been 140 new buildings in the last 20 years in just one square mile of midtown.
But there has only been just over an acre of public greenspace.
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The Midtown Alliance and Midtown Improvement District have been looking for years to purchase a property to protect it as open space.
They have also asked the public to give their input. A survey closed on May 15 with about 5,000 responses on what they would like to see.
'We will continue engaging with people. Not only what they will like to see there, we're interested in what would make people want to go back,' Green told Channel 2 on Friday.
Green said the alliance hopes to have a design and cost estimates by the end of the year and start its capitol fundraising campaign early next year.
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