Mayor Kasim Reed announced during a Thursday afternoon press conference that the Atlanta Civic Center has been sold and will be transformed into a mixed-use development with 30 percent affordable housing.
Reed said the Atlanta Housing Authority will partner on the project with Weingarten Realty.
“This will be the largest commitment to affordable housing in the heart of the city in more than a decade,” Reed said.
The $31 million transaction will see the Atlanta Housing Authority acting as lead developer on the housing component, while Weingarten will handle retail and office space. The site is likely to have multiple high-rise buildings.
Reed said the current Civic Center, built in 1967, will likely not be preserved but there is discussion about building a smaller entertainment complex on the site.