Latest news with #MidtownAlliance
Yahoo
23-05-2025
- Business
- Yahoo
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. [DOWNLOAD: Free WSB-TV News app for alerts as news breaks] 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. TRENDING STORIES: Walton County teen graduates after beating rare, aggressive cancer Memorial Day weather: Chance of scattered rain, storms this weekend Mercedes-Benz to move North American corporate headquarters to Sandy Springs 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. [SIGN UP: WSB-TV Daily Headlines Newsletter]
Yahoo
19-03-2025
- Business
- Yahoo
Group to transform this vacant property into public green space in the heart of midtown
One of the largest undeveloped properties in midtown Atlanta won't be another skyscraper. Instead it will be an attraction. Midtown Alliance just unveiled plans to create a signature public space in the heart of Atlanta on 14th Street. It won't be a traditional park like Piedmont Park half a mile away. But it will have green space and much more. 'Staggering that it's never been developed. This is the largest undeveloped site in midtown,' said Kevin Green, Midtown Alliance president and CEO. 'It just sat here as midtown grew up around all it.' [DOWNLOAD: Free WSB-TV News app for alerts as news breaks] 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 green space. 'What would make you walk into this site and say wow,' Green said. Green can't say yet what the sale price will be, but they'll close in May on buying this site, paid for through local businesses as part of the Midtown Improvement District. They have been looking for years to purchase a property to protect it as open space. 'And we always had our eye on this site, but it was always under contract, always something planned. Ultimately when that fell through, real estate market cooled, we saw it as an opportunity,' Green said. TRENDING STORIES: Georgia Tech student realizes his classmate is the doctor who delivered him Study: GA city among top 15 most challenging cities for allergies Social Security Administration to require in-person identity checks The property sits between Peachtree Street and West Peachtree Street near the Arts Center, MARTA station and Colony Square. The idea is not a traditional park, but more urbanized and more amenities. 'This is going to serve a different function than Piedmont Park. This is in a dense, urban area. There's about 45,000 people in a 7-mile walk of this site,' Green said. 'We really view this as what would it take to make this one of the best free things to do in Atlanta.' Once the sale is final, Midtown Alliance will start taking public input on what should go at the site. Then they will begin a fundraising campaign with work likely taking a couple of years to complete. [SIGN UP: WSB-TV Daily Headlines Newsletter]
