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CBD Hub Faces $100M Makeover

ATLANTA-Three developers collaborateon ground-breaking plans for about 1,000 loft-style apartments and an undetermined amount of retail in south central Downtown.

By Alex Finkelstein | Updated on November 29, 2006

ATLANTA-Five Points, a thriving south central Downtown commercial hub in the 1940s and 1950s, is expected to be reborn over the next few years. Three name developers are collaborating on the development.

The plans call for about 1,000 loft-style apartments and an undetermined amount of new retail space near Marta’s Five Points station, the largest in its citywide rail network at 55 Peachtree St. SW. The redeveloped area will tentatively be called the Railroad District as a symbol of the first business corridor and hotel row in Atlanta’s history.

The developers, all locally based, are the Morsberger Group, headed by Emory Morsberger; Wood Partners, a national condominium and apartment developer; and Miller Gallman Developers. Principals at the three companies couldn’t be reached by GlobeSt.com’s deadline to learn the estimated cost of the joint venture project. However, Metro Atlanta construction sources and civic group representatives tell GlobeSt.com the price tag will be at least $100 million “when everything is counted.”

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