The foundation plans to pay for the venture with revenue bonds approved by the Atlanta Development authority, according to a foundation press release. The park will comprise office, retail and residential components.

Not yet two years old, Yamacraw, the state's telecom R&D group, will get its own leased five-story, 210,000 building in the park by late 2002 when the project is scheduled for completion. The group has been sharing space with Georgia Institute of Technology's research arm, the Advanced Technology Development Corp. Adjacent to Yamacraw's home will be a 12-story, 465,000-sf building which will be the new home of ATDC and incubator companies.

Yamacraw was formed as a major technology initiative under Gov. Roy Barnes. The group focuses on three broadband and telecom technology areas--optical networks, broadband access devices and chips. Its mission, over a seven-year period, is to create 2,000 jobs in technology design-engineering and raise the standard of education for technology work force entrants.