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City Expected to Give Jacoby Group Up to $75 Mil for Atlantic Station Infrastructure

ATLANTA-State and federal funds totaling at least $130 million will pay for a six-lane bridge and interchange for the 138-acre, $2 billion private-public mixed-use venture at Interstates 75 and 85, the site of a former Atlantic Steel Co. mill.

By Alex Finkelstein | Updated on September 24, 2001

ATLANTA-Six years in the planning stage, the 138-acre, $2 billion mixed-use Atlantic Station gets its first funding commitment next week when city council is expected to unanimously approve a $75 million infrastructure funding package for the 138-acre, $2 billion enterprise at Interstates 75 and 85, the site of a former Atlantic Steel Co. mill.

Another $130 million will come from state and federal funds to pay for a new interchange and a six-lane bridge across the Downtown Connector at 17th Street in Midtown. Construction is expected to start by spring.

The entire project will take at least 10 years to complete. The joint undertaking by Atlanta-based Jacoby Development Co. and AIG Global Real Estate Investment Corp. of New York. is one of the most ambitious in the country.

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