Latest news with #CentennialYards
Yahoo
3 days ago
- General
- Yahoo
Vine City residents protest planned Georgia Power substation in Westside neighborhood
Community members met with Georgia Power about plans to build a substation in their Vine City neighborhood. This week, protestors rallied outside the proposed substation site at Foundry and Magnolia streets in Northwest Atlanta. 'When they say get back, we say fight back!' the protestors chanted. 'Shame, shame, shame!' 'Money over people should never be what you want. Profit over people,' said one protester. There is another substation, a school, homes, and businesses. Georgia Powers said the substation would boost power to the entire power grid and provide reliability and efficiency for the area's growing energy demands, like the new Centennial Yards project in downtown. TRENDING STORIES: On-ramp to I-85 from the Buford Spring connector shut down for bridge cracks Threat of strong, severe storms Friday night through Saturday morning Body of missing 17-year-old boater found in Lake Allatoona But protestors said that because the substation will be built in a predominantly Black neighborhood, they believe the project is a form of environmental injustice. 'We, being a disadvantaged, underprivileged neighborhood, they feel they can come in and set up a power station and there wouldn't be any outcry from the community, but that's not the case,' resident Steven Muhammad told Channel 2's Audrey Washington. 'What do you say to folks who say this is a form of environmental injustice?' Washington asked Georgia Power Regional Director Misty Fernandez. 'We would never compromise public health or safety, and we are confident these facilities do not create a health risk for the community,' Fernandez said. Georgia Power expects to break ground on the project this month. Washington asked with all the opposition why the utility company needs to build in Vine City. 'The investment that Georgia Power is making in this substation and transmission line in this neighborhood will benefit all of the downtown area and the westside of Atlanta,' Regional Director of Georgia Power Misty Fernandez said.
Yahoo
19-05-2025
- Business
- Yahoo
Freeze on property taxes: Atlanta's $10M initiative to prevent senior displacement
The Brief Atlanta's Anti-Displacement Tax Relief Fund offers long-term property tax relief to eligible senior homeowners to prevent displacement due to rising property values. The program is privately financed, freezing property tax rates for seniors at current levels and covering future increases for up to 20 years. Seniors must act quickly to apply by the deadline of May 31, 2025, with eligibility criteria including age, residency, income limits, and homeownership status. ATLANTA - With just two weeks left before a crucial deadline, advocates and city leaders in Atlanta are calling on senior homeowners to act quickly to avoid being priced out of their homes. What we know Wayne Martin, former vice president at Morehouse School of Medicine and a candidate for Atlanta City Council District 11, held an emergency news conference Sunday at the intersection of Beecher Street and Cascade Avenue in Southwest Atlanta to promote the city's Anti-Displacement Tax Relief Fund. He was joined by senior residents and community supporters who have benefited from the program. "We are here today because the stakes could not be higher," Martin said. "With just two weeks left before the deadline, I want every senior homeowner in Atlanta to hear this message clearly: Help is available, but you must act now." The citywide program, administered by Invest Atlanta and backed by a $10 million commitment from the Centennial Yards Housing Trust Fund, provides long-term relief by covering property tax increases above a set base level for eligible senior homeowners. The initiative aims to prevent displacement caused by gentrification and rising property values. Dig deeper To qualify, residents must be 60 or older, have lived in Atlanta since 2015, maintain an active homestead exemption, meet income limits, and own their home free of liens or other encumbrances. The program freezes property tax rates at current levels and covers future increases for up to 20 years. "This program ensures that those increases don't affect [seniors]," Martin said. "It'll effectively freeze their current rate in time, and any overages will be paid by this private fund." Martin emphasized that the relief fund is privately financed and not dependent on city tax revenues. He credited the developers of Centennial Yards for making the contribution as part of a community benefits agreement tied to the major downtown redevelopment project. What they're saying Local seniors who have already enrolled in the program spoke at the event, sharing how the tax relief helps them stay in their homes amid rising costs. "I applied because the taxes were going up, up, and away," said Diane Trimble, a resident of Oakland City for 40 years. "I'm on a fixed income, and I wanted to make sure I could stay in my house." Linda Brantley, a Beecher Hills resident who also applied for the program, said the relief provides peace of mind. "It makes me feel awesome knowing that I wouldn't have to pay [increased] taxes," she said. "I get a chance to save and do other things." What's next Martin stressed the urgency of the situation, urging eligible residents to apply immediately and encouraging the broader community to help spread the word. "Our seniors have paid their dues. They built our communities, raised families, and kept the culture of Atlanta alive," Martin said. "They deserve to age in place with dignity." The deadline to apply for the Anti-Displacement Tax Relief Fund is Friday, May 30, 2025. What they're saying For more information or to apply, visit Seniors may also seek help through community partners, including Meals on Wheels Atlanta, Rebuilding Together Atlanta, and The Nehemiah Project. The Source The details in this article come from a press conference held by Wayne Martin attended by FOX 5.
Yahoo
16-05-2025
- Entertainment
- Yahoo
Centennial Yards reaches milestone in $5 billion Gulch redevelopment
The days of 'The Gulch' seem to be numbered. For years, the 50-acre plot of land that sits between Mercedes-Benz Stadium and State Farm Arena was true to its name: a sunken space home to pavement and rail lines but little else. 'This is a big day for us, but a lot more to come,' Brian McGowan, president of the Centennial Yards company, said. Thursday, Centennial Yards held a 'steel rising' ceremony to celebrate the first steel going into the building of the Cosm. 'It's super exciting because it's our first big tenant,' McGowan said. The Cosm is a three-story, 70,000 square foot immersive entertainment center. The facility includes a massive dome that gives patrons a front row seat at the largest sporting events, with a screen that has similarities to Las Vegas's 'Sphere.' The Atlanta location will be the third ever Cosm behind Dallas and Los Angeles. TRENDING STORIES: DeKalb County pastor involved in $2.5 million legal battle over deal to sell church Looking to buy a new home? Not in this neighborhood. The new trend hitting metro Atlanta Missing kayaker disappears near Lake Lanier Jeb Terry said they picked Atlanta because of the location, and they hope to open up before the World Cup arrives in town next year. 'I'd argue there's not another site like this in the world with the proximity of buildings around here,' Terry said. 'At the end of the day, you look at this on a global scale, the world's attention is here. You got the World Cup coming, Super Bowls coming, college championships.' The Centennial Yards project calls for more than $5 billion to revitalize the 50-acre site. The end plan calls for a multi-use district, anchored by a 5,000+ seat entertainment facility. Earlier this week, the company behind the redevelopment announced that Live Nation would lease the facility. 'If you've been in Atlanta as long as I have, which is all my life, you know what the Gulch is. It's a big hole in the ground that, you know, is a series of parking lots, et cetera,' Andrea Worthy, Economic development director for the city of Smyrna, said. Worthy said projects like these can have a 'halo effect' for the regions surrounding the development. She said a similar benefit happened after the Braves built The Battery in Cobb County. However, these projects take a lot of work. 'There are many moving parts, many partners involved. You've got to get the city involved in those types of things. It's a really complicated process,' Worthy said. The hope for developers is that soon the Gulch will be transformed into an entertainment and economic hub for downtown. 'So when those planes are flying over for big global events, it's not gonna be a giant parking lot with cars in it. It's gonna be this vibrant, mixed-use retail district where people can come and experience Atlanta, who we are, and our culture,' McGowan said.
Yahoo
14-05-2025
- Business
- Yahoo
Centennial Yards Selects Live Nation to Operate Downtown Atlanta's Newest Iconic Entertainment Venue
Live Music Venue Set to Anchor Downtown's Rising Entertainment District ATLANTA, May 14, 2025--(BUSINESS WIRE)--Centennial Yards Company announced today that it has executed a long-term lease with Live Nation, the world's leading live entertainment company, to bring a new live music and entertainment venue to the heart of Downtown Atlanta. The state-of-the-art Live Nation venue will anchor Centennial Yards' under-construction sports and entertainment district adjacent to the Atlanta Hawks' State Farm Arena and Mercedes-Benz Stadium, home to the Atlanta Falcons and Atlanta United. This partnership marks a new milestone in the continued development of Centennial Yards, the 50-acre, $5B+ mixed-use project set to transform a long-underutilized section of the city into a vibrant, walkable district blending sports, culture, community, and commerce. Centennial Yards Company serves as the master developer and consists of a partnership between an affiliate of CIM Group and a group led by Tony Ressler. "Centennial Yards is poised to be the epicenter of sports and entertainment for the southeastern United States where people of all ages can enjoy concerts, sporting events, bars, restaurants, and retail stores—all in one vibrant mixed-use district," said Brian McGowan, President of Centennial Yards Company. "Partnering with Live Nation brings us one step closer to creating a thriving hub where unforgettable experiences happen. This new Centennial Yards entertainment venue is exactly what our region needs and adds a key element to what has already been a catalyst for the revitalization of Downtown Atlanta." Joining the entertainment ecosystem in Downtown Atlanta, the new 5,300-seat capacity venue will complement the existing venue landscape including Tabernacle, Fox Theater and Buckhead Theater as well as sports facilities Mercedes-Benz Stadium, which can host up to 75,000 fans, and State Farm Arena, which accommodates 17,000 attendees. The venue is set to showcase a range of performances across genres, from national headliners to global touring acts and local artists. Designed with unwavering focus on the fan, it will offer exceptional sound quality, clear sightlines, and a range of customizable options—including premium experiences and elevated food and beverage offerings. "Atlanta has long been a cornerstone of American music and live entertainment, and we're thrilled to help write its next chapter downtown with this new venue at Centennial Yards," said Jordan Zachary, President of Global Venues at Live Nation. "This venue fills a key gap in the local entertainment landscape and we believe it will further strengthen the city's position as a cultural and economic powerhouse. We're proud to partner with the Centennial Yards, CIM Group and the Hawks organizations to deliver a destination that draws fans from across the region and contributes to the growth of Atlanta's vibrant music scene." "We are thrilled to welcome Live Nation to Centennial Yards as we continue shaping a district that reflects the energy and spirit of Atlanta," said Shaul Kuba, Co-Founder and Principal, CIM Group. "Bringing this world-class venue to life is a major step forward that brings people together through transformative experiences—not just for the development, but for the city itself. It reflects our commitment to building something bold, inclusive, and unforgettable for Downtown Atlanta." "As owners rooted in Atlanta, we are committed to shaping a Downtown that is dynamic, inclusive, and vibrant," said Tony Ressler, Principal Owner of the Atlanta Hawks. "Live Nation's new music venue builds on our vision for Centennial Yards as a destination where residents, visitors, and fans alike come together to experience the best of Atlanta." Development at Centennial Yards is well underway. Live Nation will join Cosm, a 70,000-square-foot, three-level immersive entertainment venue; Hotel Phoenix, a 292-key hotel; and The Mitchell, a 304-unit apartment tower, which are anticipated to open later this year. Centennial Yards' 50-acre master plan will feature over 8 million square feet for residential, retail, hotel, and entertainment uses. Centennial Yards South is already open, offering Centennial Lofts for students and young professionals. Wild Leap Brewery hosts sporting events with beer and handcrafted cocktails. Before ticketed events, the Tailgating Experience on Steele Bridge provides food trucks, live music, face painting, and fan activities. Overall, Centennial Yards is transforming Downtown Atlanta through community-focused development and vibrant spaces. ABOUT CENTENNIAL YARDS Centennial Yards is a $5 billion transformational mixed-use development in Atlanta, the Southeast's biggest and most influential market. As one of the largest and most ambitious city-center developments in the country, Centennial Yards is expected to revitalize 50 acres of underutilized land in the heart of Downtown Atlanta to connect surrounding communities and create several new city blocks at the junction of the rail lines where the city was founded. Once complete, Centennial Yards is expected to offer 8 million square feet of world-class new commercial and residential space comprised of 4 million square feet of dynamic retail, entertainment, modern office, and hotel, and 4 million square feet of new residential, as well as a vibrant public realm that will provide outdoor gathering spaces to all Atlantans and visitors of Centennial Yards. Anchored by major Downtown attractions, including Mercedes-Benz Stadium and State Farm Arena, one of the Southeast's largest Sports Entertainment Districts will feature restaurants, bars, a live music venue and other hospitality destinations. With multiple MARTA stations linking the campus with the rest of the city, and in close proximity to the Atlanta Beltline, Centennial Yards is expected to bring increased connectivity, walkability, and 24/7 living to the heart of Atlanta. Centennial Yards Company serves as the master developer of Centennial Yards and consists of a partnership between an affiliate of CIM Group and a group led by Tony Ressler. For more information visit About Live Nation Entertainment Live Nation Entertainment (NYSE: LYV) is the world's leading live entertainment company comprised of global market leaders: Ticketmaster, Live Nation Concerts, and Live Nation Sponsorship. For additional information, visit ABOUT CIM GROUP CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. Since 1994, CIM has sought to create value in projects and positively impact the lives of people in communities across the Americas by delivering more than $60 billion of essential real estate and infrastructure projects. CIM's diverse team of experts applies its broad knowledge and disciplined approach through hands-on management of real assets from due diligence to operations through disposition. CIM strives to make a meaningful difference in the world by executing key environmental, social and governance (ESG) initiatives and enhancing each community in which it invests. For more information, visit View source version on Contacts Media Contact: The Koki Group PR (Centennial Yards)Vijay Lalwani, Michelle Ayalacy@ Live NationStephanie Corzettstephaniecorzett@
Business Wire
14-05-2025
- Business
- Business Wire
Centennial Yards Selects Live Nation to Operate Downtown Atlanta's Newest Iconic Entertainment Venue
ATLANTA--(BUSINESS WIRE)--Centennial Yards Company announced today that it has executed a long-term lease with Live Nation, the world's leading live entertainment company, to bring a new live music and entertainment venue to the heart of Downtown Atlanta. The state-of-the-art Live Nation venue will anchor Centennial Yards ' under-construction sports and entertainment district adjacent to the Atlanta Hawks' State Farm Arena and Mercedes-Benz Stadium, home to the Atlanta Falcons and Atlanta United. This partnership marks a new milestone in the continued development of Centennial Yards, the 50-acre, $5B+ mixed-use project set to transform a long-underutilized section of the city into a vibrant, walkable district blending sports, culture, community, and commerce. Centennial Yards Company serves as the master developer and consists of a partnership between an affiliate of CIM Group and a group led by Tony Ressler. "Centennial Yards is poised to be the epicenter of sports and entertainment for the southeastern United States where people of all ages can enjoy concerts, sporting events, bars, restaurants, and retail stores—all in one vibrant mixed-use district," said Brian McGowan, President of Centennial Yards Company. "Partnering with Live Nation brings us one step closer to creating a thriving hub where unforgettable experiences happen. This new Centennial Yards entertainment venue is exactly what our region needs and adds a key element to what has already been a catalyst for the revitalization of Downtown Atlanta." Joining the entertainment ecosystem in Downtown Atlanta, the new 5,300-seat capacity venue will complement the existing venue landscape including Tabernacle, Fox Theater and Buckhead Theater as well as sports facilities Mercedes-Benz Stadium, which can host up to 75,000 fans, and State Farm Arena, which accommodates 17,000 attendees. The venue is set to showcase a range of performances across genres, from national headliners to global touring acts and local artists. Designed with unwavering focus on the fan, it will offer exceptional sound quality, clear sightlines, and a range of customizable options—including premium experiences and elevated food and beverage offerings. 'Atlanta has long been a cornerstone of American music and live entertainment, and we're thrilled to help write its next chapter downtown with this new venue at Centennial Yards,' said Jordan Zachary, President of Global Venues at Live Nation. 'This venue fills a key gap in the local entertainment landscape and we believe it will further strengthen the city's position as a cultural and economic powerhouse. We're proud to partner with the Centennial Yards, CIM Group and the Hawks organizations to deliver a destination that draws fans from across the region and contributes to the growth of Atlanta's vibrant music scene.' "We are thrilled to welcome Live Nation to Centennial Yards as we continue shaping a district that reflects the energy and spirit of Atlanta," said Shaul Kuba, Co-Founder and Principal, CIM Group. "Bringing this world-class venue to life is a major step forward that brings people together through transformative experiences—not just for the development, but for the city itself. It reflects our commitment to building something bold, inclusive, and unforgettable for Downtown Atlanta." "As owners rooted in Atlanta, we are committed to shaping a Downtown that is dynamic, inclusive, and vibrant," said Tony Ressler, Principal Owner of the Atlanta Hawks. "Live Nation's new music venue builds on our vision for Centennial Yards as a destination where residents, visitors, and fans alike come together to experience the best of Atlanta." Development at Centennial Yards is well underway. Live Nation will join Cosm, a 70,000-square-foot, three-level immersive entertainment venue; Hotel Phoenix, a 292-key hotel; and The Mitchell, a 304-unit apartment tower, which are anticipated to open later this year. Centennial Yards' 50-acre master plan will feature over 8 million square feet for residential, retail, hotel, and entertainment uses. Centennial Yards South is already open, offering Centennial Lofts for students and young professionals. Wild Leap Brewery hosts sporting events with beer and handcrafted cocktails. Before ticketed events, the Tailgating Experience on Steele Bridge provides food trucks, live music, face painting, and fan activities. Overall, Centennial Yards is transforming Downtown Atlanta through community-focused development and vibrant spaces. ABOUT CENTENNIAL YARDS Centennial Yards is a $5 billion transformational mixed-use development in Atlanta, the Southeast's biggest and most influential market. As one of the largest and most ambitious city-center developments in the country, Centennial Yards is expected to revitalize 50 acres of underutilized land in the heart of Downtown Atlanta to connect surrounding communities and create several new city blocks at the junction of the rail lines where the city was founded. Once complete, Centennial Yards is expected to offer 8 million square feet of world-class new commercial and residential space comprised of 4 million square feet of dynamic retail, entertainment, modern office, and hotel, and 4 million square feet of new residential, as well as a vibrant public realm that will provide outdoor gathering spaces to all Atlantans and visitors of Centennial Yards. Anchored by major Downtown attractions, including Mercedes-Benz Stadium and State Farm Arena, one of the Southeast's largest Sports Entertainment Districts will feature restaurants, bars, a live music venue and other hospitality destinations. With multiple MARTA stations linking the campus with the rest of the city, and in close proximity to the Atlanta Beltline, Centennial Yards is expected to bring increased connectivity, walkability, and 24/7 living to the heart of Atlanta. Centennial Yards Company serves as the master developer of Centennial Yards and consists of a partnership between an affiliate of CIM Group and a group led by Tony Ressler. For more information visit ABOUT CIM GROUP CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. Since 1994, CIM has sought to create value in projects and positively impact the lives of people in communities across the Americas by delivering more than $60 billion of essential real estate and infrastructure projects. CIM's diverse team of experts applies its broad knowledge and disciplined approach through hands-on management of real assets from due diligence to operations through disposition. CIM strives to make a meaningful difference in the world by executing key environmental, social and governance (ESG) initiatives and enhancing each community in which it invests. For more information, visit
